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SOLICITORS INSTRUCTED - SUBSTANTIAL GRADE II LISTED FREEHOLD HOTEL WITH 30 COVER RESTAURANT, 8 LETTING BEDROOMS AND PP FOR 2 SEMI-DETACHED HOUSES LOCATED IN THE BUSTLING LINCOLNSHIRE TOWN OF HOLBEACH

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  • South Lincolnshire Fenland market town sitting between Spalding and Kings Lynn close to A16 & A17 and with easy access to Wisbech and Boston.
  • Main Lounge/Bar (c44+ plus standing) with exposed wall and ceiling beams, 2 Inglenook fireplaces and areas of exposed brickwork.
  • Restaurant (c30+ covers) with exposed wooden ceiling beams, wood panelled walls and a solid oak floor.
  • 8 Letting bedrooms to the first and second floor.
  • Spacious 2-bedroom owners flat.
  • Grassed garden with lit smoking solution ; Car park.
  • Advised turnover for year ending January 2018 was circa £343,714 (incl. VAT) achieved on a trade split of 81% wet sales, 17% dry sales and 2% accommodation.
  • Planning permission ‘GRANTED’ for 2 Semi-Detached houses to be newly built on part of the adjacent patron’s car park (PP Reference – H09-0445-16).
  • This property could possibly be suitable for AU (STPP).
A RARE OPPORTUNITY TO PURCHASE THIS CHARACTERFUL GRADE II LISTED FREEHOLD HOTEL AVAILABLE FOR THE FIRST TIME IN OVER 19 YEARS.

ASKING PRICE £265,000 FREEHOLD TO INCLUDE FIXTURES & FITTINGS, EXCLUDING S.A.V.

Location

This substantial hotel sits on a good-sized plot in the centre of the Lincolnshire town of Holbeach only 8 miles from the vibrant and colourful town of Spalding. Holbeach has 2 primary schools, local high street shops & amenities and 2 supermarkets that service the local community. Nearby points of interest include Wisbech (14 miles), Boston (15 miles), Market Deeping (19 miles) and Kings Lynn is a pleasant 20 miles away. The nearby road networks are excellent and the A17 and A16 are set amidst a series of other ‘A’ roads providing easy access throughout this beautiful county.

THE PROPERTY

This traditional 3-storey Grade II listed hotel is of rendered brick construction, sitting under a pitched tiled roof. This deceptively large property stands on the main road running through the town and has a small entrance porch to the front that provides access to the main trading areas. These consist of:

Main Lounge/Bar (circa 44+ plus standing) is a long traditional room full of rustic charm and character and a warm and welcoming atmosphere. The room has loose tables, chairs and wooden bench pews all sitting on a fully carpeted floor. Exposed wooden beams to both the ceiling and walls are complimented by areas of exposed brickwork and 2 brick-built Inglenook fireplaces sit at either end of the room. There is a central bar server of brick construction with 3 cask hand pulls on offer to service the whole of the trading area. The room also has 2 wall mounted HDTV’s, AWP, SWP, Juke box and a darts throw.

Restaurant (circa 30+ covers) is a self-contained multi-use room to the rear of the property. The room has loose tables and chairs able to be laid out to suit the occasion all sitting on a rug covered solid oak floor and complimented by exposed wooden beams to the ceiling and wood panelled walls. Predominantly used for breakfast and dining this room can also be used for small private meetings or private dining if required.

There is a good sized well equipped commercial Catering Kitchen with stainless steel appliances and surfaces (equipment not tested) and dry goods and fridge/freezer storage areas.

Below ground floor Beer Cellar with python system, pumps, remote etc & further storage areas.

Ladies & Gents WC’s.

OWNERS ACCOMMODATION

The owner’s accommodation is located on the 2nd floor and briefly consists of: 2 double bedrooms, Lounge-Diner, Kitchenette and bathroom.

LETTING ACCOMMODATION

Situated on the 1st and 2nd floor of the property and with private access are 8 letting rooms (4 en-suite / 4 shared facilities). These consist of 4 single rooms and 4 twin rooms and are very popular with local contractors.

EXTERNAL

To the side of the property is a grassed beer garden with wooden picnic benches (circa 40+) and a lit and covered smoking solution. Also to the side is the patron’s car park with spaces for circa 15 cars.

We can confirm that PP has been GRANTED for 2 semi-detached houses to be newly built on part of the patron’s car park (PP Ref: H09-0445-16) that runs until July 2019. If this option were taken up it would still leave a small parking area for the hotel.

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 - Weds 11am to 11pm

Thursday 11am to 12.15am

Fri/Sat 11am to 01.15am

Sunday 12noon to 10.30pm

Current opening hours are:

Sun – Thurs 11am to 11pm

Fri – Sat 11am to 1am.

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 property and business is being offered for sale freehold (although we have not had sight of the title deeds). We are advised all mains services are connected (no services tested). Business rates payable are advised as being circa £8,441 per annum.

THE BUSINESS

The current owner purchased the property in 1998 and over the past c19 years has created an established business offering quality food, drinks and accommodation to a loyal, repeat and desirable clientele. Our vendor client is now looking to sell the freehold on in order to be able take life at a more leisurely pace. The business is currently operated by the owner’s manageress assisted by 4 full time and 1-part time/casual members of staff. The business sits at the centre of the local community and offers popular Sunday lunches, occasional live entertainment & quiz nights. We are advised that accounts declare takings of circa £343,714 (incl.VAT) to end January 2018 achieved on a trade split of 81% Wet, 17% Food & 2% accommodation sales. 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. In our opinion this could be achieved by exploring the opportunity to introduce a website for the business, market the rooms on national websites (e.g.: booking.com), introduce teams and further entertainment or even introduce early evening food offers. There is also the opportunity to build the 2 semi-detached houses (PP Ref: H09-0445-16) adjacent to the business whilst investigating the option for AU (STPP) on the hotel.

Accounting information will be made available to interested parties after viewing. The property 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 via Guy Simmonds on 01332 865112.

Details prepared February 2018

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