6927L

POPULAR AND THRIVING 'FREE OF TIE' INN & RESTAURANT WITH SEPARATE QUALITY LATE BAR & VENUE LOCATED IN THE HISTORIC BUSTLING LINCOLNSHIRE MARKET TOWN OF BOURNE

6927L

  • Traditional family inn & restaurant with separate late bar & Venue in prime location in the centre of the bustling Lincolnshire market town of Bourne.
  • Large open plan family Lounge/Restaurant (circa 85) well presented & furnished to an exceptionally high standard.
  • Large open plan Late Bar/Venue (175 Capacity) with multi use to include meetings & functions furnished to an excellent high standard with contemporary furnishings.
  • Lovely enclosed paved drinking area with wooden garden furniture at the rear of the property.
  • Advised turnover circa £602,201 (incl. VAT) for year ending October 2012.
  • Trade 38% wet : 62% Food.
  • 'Free of tie' renewable lease with additional income from adjoining property rental.
AN EXCELLENT OPPORTUNITY TO ACQUIRE A THRIVING BUSINESS IN A BUSY HISTORIC MARKET TOWN LOCATION

ASKING PRICE £54,950 LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This outstanding business is located in the middle of the bustling historic Lincolnshire market town of Bourne (twinned with Doudeville, Normandy). Situated on the western edge of the Lincolnshire Fens local attractions include the historic towns of Spalding (12 miles), Stamford with Burghley House & park (11 miles), Grantham (22 miles) & Peterborough (16 miles). The famous Grimsthorpe Castle & Estate are only 4 miles away. There is a market every Thursday & Saturday & many craft & antique shops within the town which is also home to Bourne Corn exchange which is a popular venue for local events. With a current population of over 15,000 this will grow in the near future as new housing/townships are currently being built on the edge of the town.

THE PROPERTY

This wonderful inn & venue is of brick construction, with partial rendering, under a pitched, tiled roof, occupying an excellent prominent corner position in the centre of the shopping area on the main road running through the town.

An entrance porch at the rear with flagstone floor gives access to all trading areas and a small porch area to the front of the property does likewise.

The trading area is open plan with a large Family Lounge/Restaurant (circa 85 plus standing). This substantial room has a lovely warm and relaxing atmosphere & furnished to an exceptional standard. The room is fully carpeted with loose high & low tables, leather covered chairs accompanied by leather tub chairs and settees.

The room also has 2 games machines, 2 flat screen HDTV.s a raised area and partial exposed brickwork.

There is a very well presented bar servery with a continental coffee machine & 3 cask ale hand pulls built of wood construction with a ceramic tiled floor surround.

Situated on the 1st floor is the fully 'air conditioned' Late Bar & Venue (175 capacity). This large open plan room is furnished to an excellent standard with a wonderful contemporary feel. The room is multi use & is used not only as a late night venue but also for private meetings/hire, functions & events. The room has a wooden floor throughout with partial perimeter leather bench seating, loose tables, chairs, settees, tub chairs and footstools sitting beneath exposed original wooden ceiling beams & rafters where wonderful chandeliers hang free. There is a bar of wood construction cleverly covered over with illuminated acrylic creating an amazing stand out feature. This room also has 2 AWP's, 4 HDTV's & a DJ booth. There is a small room at one end with exposed stone walls and fireplace, leather tub chairs and settees overlooking the town centre. A place to sit, relax and watch the world go by.

Ladies, Gents & disabled W.C.'s.

Internal & external CCTV.

There is a fully equipped commercial kitchen area (appliances not tested). There is also ground floor cellar (to service both trading areas) and additional storage.

OWNERS ACCOMMODATION

There is no owner's accommodation.

EXTERNAL

To the rear of the building is a paved patio area with wooden picnic benches enclosed by a small picket fence enhanced by lovely flower baskets, tubs & troughs. There is a storage room for dry goods, fridges & freezers that also has a walk in cold room & also a large office area. Adjacent to the property and included within the lease is a rented out building that currently creates a further rental income of £3,900 net per annum.

Also to the rear of the property is the patron's car park with spaces for circa 16 cars.

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 10am to 2.30am

Current opening hours are:

Inn/Restaurant:

Mon - Sat 10.am to 11.30pm

Sunday 12noon to 11pm

Late Bar & Venue:

Thurs - Sat 8pm to 2.30am

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. Guy Simmonds hold this 1 day APLH Course every month. Please telephone us to reserve your place or browse the training section of this site.

GENERAL REMARKS

The business is offered for sale as a lease assignment with approximately 12 years remaining of the private full repairing and insuring, renewable agreement. We are advised that the inn is totally 'free of tie' on all products. We are informed that the rent is currently £70,200 per annum to be reviewed in 2015. 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). Combined business rates payable are advised as currently being circa £17,603 per annum.

THE BUSINESS

The current owner purchased the business in 2009 and has since established a solid trading foundation throughout, not only with a loyal & desirable clientele but also with repeat bookings for meetings, functions & events all year round. The business is currently operated by the owner assisted by a manager, 4 full & 16 part time members of staff. A twice monthly quiz, regular food themed events and a monthly comedy & music event night (incl. meal) are held and are proven to be very popular. We are advised that accounts declare takings of circa £602,201 (incl. VAT) for year ending October 2012 . New owners could continue to operate the business using the same successful formula or they may wish to take the business to the next level by exploiting the potential in marketing the function & meeting venue further or introducing further food offers & attracting additional trade from the town centre.

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.

ADDITIONAL IMAGES

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