Free Of Tie Public House With Rooms L/h £130,000 Northamptonshire | | Undisclosed Northamptonshire | | NORTHAMPTONSHIRE FREE OF TIE PUBLIC HOUSE WITH LETTING ROOMS Located off the high street in popular market town 100% wet - 3 double letting rooms Excellent local reputation - karaoke nites A/T: £180,000 GP: £117,000 Scope for food sales / extend out to shop next door & put in Sky L/H: £130,000 +SAV REF: 9478NN | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 44458
ADVERT IMPRESSIONS : 25,815 TIME(S) | | | | BUSINESS SECTOR: | Hotels / Pubs / Accom | | TRADE TYPE: | Pubs | | SALE: | Agent Sale | LEASEHOLD: | £130000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | LOCATION
The pub is ideally located just off the main high street of a popular market town in Northamptonshire. Nearby towns include Kettering, Rushden and Wellingborough.
Parking is free of charge on street outside the pub.
Major roads include the A6, A14 and A45, which give excellent access to the nearby counties and beyond via the M1 motorway.
THE BUSINESS
Advent Business Sales is pleased to have been instructed to offer to the market this extremely well established and profitable free of tie public house.
Founded over 20 years ago by the present vendor, the business is only now being reluctantly offered for sale due to his plans to retire and immigrate to Spain.
The pub has a thriving 100% wet trade and achieved excellent net sales of £179,830 in the financial year to August 2008 with a 65% gross profit, net profit was circa £37,000.
The business has expanded since these accounts and is currently achieving average net sales of approximately £220,000 per annum with margins unchanged.
The pub is renowned for its great atmosphere, beers and entertainment and its karaoke nights are infamous locally.
There are three double letting rooms which each command a weekly rent of £75, they are all centrally heated with shared facilities of kitchen, shower room and wc and have a separate access from the pub.
The business has 1 full time staff member and 5 part time, who work on average 16 hours per week each, the vendor works 2 days a week.
We are advised that stock at cost is approximately £5,000.
REF: 9478NN
TRADING HOURS
Mon-Thurs: 12.00 – 11pm
Fri – Sat: 12.00 – 2.00am
Sun: 12.00 – 11pm
EXPANSION POTENTIAL
This is clearly already a successful public house, it does however, offer excellent potential to increase both sales and profits in the short term by:
1. Having a full time working owner to save on the cost of employing staff
2. Put in Sky TV to encourage sports fans
3. Use the basement kitchen to offer food sales
4. Increase the low prices charged
5. Space has been offered in the shop next door, which could increase bar capacity
6. Convert the flat room on the first floor into a roof terrace or beer garden with a smoking area
FINANCIAL INFORMATION
We have been advised by the vendor of the following:
Annual sales: £180,000
Gross Profit: £117,000
Accounts will be made available to interested parties after a viewing has taken place.
Please let us know if you require finance for the purchase of a business.
BUSINESS PREMISES
Entry into lobby with separate site access to the letting rooms into the main bar area which has recently been refurbished and briefly comprises:
Ground Floor
• Attractive bar servery, pool table, 2 x plasma tv’s, cigarette machine, juke box and bandit
• The premises have an added advantage of being air conditioned, having partial double glazing and of being alarmed and with a 7 camera CCTV system
• Private accommodation is accessed via the bar and consists of a large double bedroom, lounge, bathroom with wc and shower over bath. It has gas central heating
• 3 self contained letting rooms which are all doubles and are all centrally heated
TENURE: Leasehold
Original lease: 10 years
Remaining lease: 10 years
Review every: 1 year
Rent: £26,200
We are advised that the annual business rates are currently: £6,750 | | | | | | FOR SALE | | | | | REFERENCE: | 9478NN / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
