7957L

SUPERBLY APPOINTED HIGHLY PROFITABLE INN WITH LETTING ROOMS LOCATED WITHIN A PICTURESQUE VILLAGE ON THE OUTSKIRTS OF THE LAKE DISTRICT IN CUMBRIA

7957L

  • Attractive village location close to large population areas within the South Lakeland District, in close proximity of the Lake District National Park.
  • Well-presented Bar/Lounge areas (circa 100) carpeted throughout with feature stone fireplaces.
  • 5 En-Suite Letting Rooms.
  • Potential to add 2 additional letting rooms (STPP).
  • Attractive Beer Garden (circa 100) with impressive range of children’s play equipment.
  • Potential to introduce caravan/camping facilities (STPP).
  • Owners flat with 3 Double Bedrooms.
  • Advised turnover approaching £900,000 (inc VAT) y/e June 2016, declaring in excess of £475,000 gross profits, culminating in substantial recon net profit.
  • Trade split approx. 43% wet / 46% Food / 11% Accom.
  • Partially tied Lease Agreement.
  • Confidential sale - for further information please contact Lee Davy on 07496 849424.
A TRULY SUPERB PROFITABLE BUSINESS IN A SOUGHT AFTER LOCATION

ASKING PRICE £325,000 LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

The business is located in the South Lakeland District on the outskirts of The Lake District. Located in a village location, close to a large town and within easy reach of the M6. The lakes of Windermere and Coniston are easily accessible. The Lake District is a designated UNESCO World Heritage Site and is a popular holiday destination located entirely within the county of Cumbria. The National Park benefits from 23 million day visits per annum. Windermere Lake steamers are Cumbria’s most popular charging tourist attraction with around 1.35 million paying customers each year.

THE PROPERTY

The property is well presented throughout and furnished to a high standard.

The main trading areas are well laid out and presented to a high standard. Accessed from the front and rear, comprising Bar and Lounge areas that are connected. The area is served by a central bar servery and benefits from carpeted and wooden flooring throughout. It is extremely welcoming and full of character with log burners.

The tables and chairs currently extend to 100 covers and are well positioned throughout the bar and lounge. Seating is provided by free standing chairs and tables.

The bar servery runs between the bar and lounge areas and has a good view of the seating areas.

Separate Gents and Ladies toilets are accessed from the main bar area.

To the rear of the bar is the Commercial Kitchen with stainless steel preparation area, and an extensive range of appliances (appliances not tested).

OWNERS ACCOMMODATION

Self-contained flat comprising 3 Double Bedrooms. Kitchen, Lounge and Bathroom/WC. Next to the Owner’s Accommodation are 2 en-suite bedrooms, with potential to let after upgrade.

On the 3rd Floor is an Office, a Store Room & Staff Room/4th Bedroom.

LETTING ACCOMMODATION

The business benefits from 5 En-Suite Letting Bedrooms, with TV, hairdryers and tea/coffee making facilities. The Letting Rooms comprise 2 x Double, 2 x Family (double and 2x single) and 1 x Family (double and 1 single).

EXTERNAL

There is a large enclosed beer garden to the rear that offers a range of children’s play equipment. There is wooden seating for circa 100.

There is a large car park accommodating circa 50 cars to the side of the property.

There is potential to charge for car park spaces to the Railway Station (STPP).

The business benefits from additional land that has potential for Caravan/Camping facilities to be introduced (STPP).

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 to Sun 11am to 1am

Current opening hours are:

Mon to Fri 12 noon to 11.00pm

Saturday 11.30am to 12.30am

Sunday 11.00am to 11.00pm

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 4 years remaining of the Enterprise Inns full repairing and insuring, renewable agreement. We are advised that the inn is free of tie for wines, spirits, soft drinks and one real ale pump. We are informed that the rent is currently £65,000 per annum. 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 public house benefits from all mains services with calor gas and oil fired central heating (no services seen or tested). Business rates payable are advised as currently being circa £24,000 per annum.

THE BUSINESS

The current owners purchased the business in 2006 and have built on the excellent reputation it had as a quality venue offering high quality food and drinks in superb surroundings.

We are advised that turnover for the trading period to June 2016 is approaching £900,000 (inc VAT), declaring in excess of £475,000 gross profits, culminating in substantial reconstituted net profit. The trade split is approximately 43% wet, 46% Food and 11% accommodation.

The business is currently thriving and extremely profitable, and new owner operators may wish to continue in this highly successful format. However we feel that there is clearly further scope to expand the letting accommodation (STPP) and explore the caravan and camping potential. Also, depending upon new operators’ individual circumstances, they may wish to reduce wage costs (if required) thus further increasing the existing substantial net profits.

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

This business was viewed by Lee Davy who would be delighted to discuss further details and can be contacted on 07496 849424 Viewing appointments must be made by contacting Guy Simmonds on 01332 865112.