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DESIRABLE AND STYLISH 17TH CENTURY RESTAURANT WITH 100+ DINING COVERS & 13 EN-SUITE LETTING ROOMS LOCATED IN THE AFFLUENT VILLAGE OF EMPINGHAM IN THE BEAUTIFUL COUNTY OF RUTLAND

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  • Unopposed Gastro inn located between Stamford and Oakham and only a 10-minute stroll from the magnificent shores of Rutland Water
  • Main Bar (circa 24+) with attractive oak floor and exposed stone built fireplace with welcoming log fire
  • Lounge/Dining (35 covers) with opened through stone built Inglenook fireplace and inset log burner
  • Dining Room (36 covers) with mosaic wall coverings
  • Tartan Room (14 covers) suitable for private dining
  • Self-contained conference room (circa 20+) with presentation and meeting facilities
  • 13 highly attractive family friendly and individually styled en-suite letting rooms
  • One bedroom managers flat/owners' accommodation (able to increase)
  • Hard standing Patio drinking area to the front : Lawned garden with 'Summer House' shop to the side of the property - both with rolling Rutland countryside views
  • Advised turnover circa £840,000 (incl. VAT) to end February 2016
  • Trade - 57% Food : 31% Wet : 12% Accommodation
  • Partially tied renewable lease with target and volume related discounts
A FANTASTIC OPPORTUNITY TO ACQUIRE A THRIVING PROFITABLE ESTABLISHED BUSINESS IN AN IDYLLIC VILLAGE LOCATION

ASKING PRICE £185,000 LEASEHOLD TO INCLUDE FIXTURES AND FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This thriving business is located in the idyllic village of Empingham sitting in the heart of the stunning county of Rutland, the smallest county in the UK. Empingham sits directly on the A606 between the historic towns of Stamford (5 miles) and Oakham (6 miles). It is one of the larger villages in Rutland and has within a Primary School, a Church and a village shop/facilities. Local points of interest include the highly popular tourist attraction of Rutland Water famed for its water sports and Nature Reserve, the Elizabethan Burghley House where the horse trials are held and stately homes to include Rockingham and Belvoir Castles and Belton and Boughton House. The property is situated within easy access of the transport networks with the A1, A47 and A15 nearby providing easy access to nearby Peterborough (19miles) and Corby (20 miles).

THE PROPERTY

This popular 17th century former courthouse is of stone construction and sits under a pitched, tiled roof. The property occupies an excellent prominent corner position on the main road running through the village. Entrances to the front and rear of the property provide access to all the trading areas. These consist of:

Bar area (circa 24 plus standing) is a cosy well presented room with a solid oak and quarry tiled floor. The room has loose tables, chairs, wooden window benches and a comfy leather settee sitting in front of an exposed stone built open fireplace. There is a well-stocked bar server of wood construction offering 2 cask ales and a wall mounted HDTV.

The main Dining area is open plan and consists of:

Lounge area (circa 35 covers) is a spacious area full of character and rustic charm. Loose tables, chairs, wooden bench pews and perimeter seating are all set around a fabulous central stone built Inglenook fireplace with a built in log burner. The room is mostly carpeted with areas of exposed stone walling and quirky attractive pictures adorn the walls. There is also a bar server of wood construction offering 4 cask ales with a solid oak floor surround.

Dining Room (circa 36 covers) is a stylish room with an assortment of loose shabby chic tables and leather dining chairs all sitting on a laminate wood floor. The room has a small fireplace with built in log burner and can be laid out as desired to suit the occasion (circa 24 to 36 covers).

Tartan Room (circa 14 covers) is a lovely room that leads off from the Dining Room and has a warm and relaxed atmosphere. The room has loose tables and leather dining chairs sitting on a lovely Tartan carpet. It can be used as either part of the Restaurant experience or for small Private Dining parties.

Ladies, Gents W.C.'s

The property also has a Self-Contained Conference room (circa 20+ delegates depending on layout) with presentation and meeting facilities.

There is a fully equipped Commercial Catering Kitchen with stainless steel appliances and surfaces (appliances not tested) and Dessert/Prep and wash up areas leading off. There is also a below ground floor cellar and additional storage.

OWNERS ACCOMMODATION

The owner's accommodation currently comprises of a manager's flat, however, this is by personal choice and is able to be extended by adapting and utilising one of the en-suite letting rooms.

LETTING ACCOMMODATION

Situated on the 1st floor of the property and in a stand-alone stone built accommodation block are 13 individually styled en-suite letting rooms. These consist of 4 Twin, 5 Double and 4 Family rooms however are mostly adaptable to accommodate resident party sized as required. All rooms have tea/coffee making facilities and HDTV's.

EXTERNAL

To the front of the property is a fabulous hard standing area with wooden garden furniture (circa 100+) set amidst colourful baskets, troughs and planters and providing rolling Rutland countryside views. To the side of the property is a lawned garden area with wooden picnic benches (circa 60) and a brick built 'Summer House' shop selling refreshments and ice creams in the warmer weather. Also to the rear is the patron's lined car park providing space for circa 40+ cars and several outbuildings currently used for storage.

TRADING HOURS

We are advised that the business trades with the benefit of the Premises Licence (not seen) which permits the sale of alcohol during the hours of:

Mon- Sun 11am to midnight

Current opening hours are:

Mon - Fri 7am to 10.30pm

Saturday 7am to 11pm

Sunday 7am to 8pm (Early opening for tea/coffee only)

NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the APLH Qualification in readiness for their intended operation of the Public House.

GENERAL REMARKS

The business is offered for sale as a lease assignment with approximately 5 years remaining of the original Unique (Enterprise Inns owned) full repairing and insuring, renewable agreement. We are advised that the inn is free of tie for wines, spirits, minerals and machines (if desired) and attracts volume and target related discounts. We are informed that the attractive rent is currently £70,000 per annum not to be reviewed until 2021. We are advised that at the end of the term, the Lease (not seen by Guy Simmonds) should be renewable with no further premium - subject to the provision of the Landlord & Tenant Act 1954. We are advised that the inn benefits from mains services (no services seen or tested) with LPG used for cooking and heating. Business rates payable are advised as currently being circa £35,000 per annum.

THE BUSINESS

The current owners purchased the leasehold in 2015 and have continued to trade this thriving established business offering fresh, seasonal and local sourced produce to a loyal, repeat and desirable clientele. Due to personal reasons our vendor clients are reluctantly selling the business on. It is currently operated by the owner assisted by a duty manager, 6 Full time and circa 14-part time/casual members of staff. We are advised that accounts declare takings of circa £840,000 inclusive of VAT to the end of February 2016 - 57% Food, 31% wet & 12% Accommodation sales. This business would suit experienced operators who have previous catering experience or have worked in a similar environment.

This fabulous property can be viewed in full at: www.whitehorserutland.co.uk

Accounting information will be made available to interested parties after viewing.

This business was viewed by Richard Fletcher who would be delighted to discuss further details and can be contacted on 07527 718400.

Viewing appointments must be made by contacting Guy Simmonds on 01332-865112.

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