Seafront Public House And Restaurant Price Reduced | | Gosport Hampshire | | Phoenix Business Agents are delighted to place onto the market this large public house which has been established over 100 years. The business has been in the hands of the current owner since 2000 and now wishes to sell due to retirement. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 63727
ADVERT IMPRESSIONS : 14,601 TIME(S) | | | | BUSINESS SECTOR: | Catering | | TRADE TYPE: | Restaurants | | SALE: | Agent Sale | ASKING PRICE: | £495,000 | LEASEHOLD: | £495,000 | ANNUAL RENT: | £63,000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | - Situated in Seafront area of Gosport in Hampshire.
- Prominent location on the sea front with walking distance of Gosport ferry terminal.
- Excellent parking facilities for 20 cars.
- Surrounded by densely well populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Gosport Ferry and harbor all lie close by.
- Area enjoying much growth and re generation.
- A lifestyle area
- Excellent local demographics for this type of area.
Business Details
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £850,000 pa with a high net profit. (See financial summary below).
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for couple or partnership.
- A niche concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides restaurant and public house.
History
Phoenix Business Transfer Agents are delighted to place onto the market this large public house which has been established over 100 years. The business has been in the hands of the current owner since 2000 and now wishes to sell due to retirement.
Services
This very good business opportunity provides public house.
Staffing
The concern employs 9 staff.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
The owner markets the business on local web sites and has a website.
Competition
As far as competition is concerned there is another similar business some 1/4 miles away.
Market
The client base consists of locals and tourist
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Becoming more efficient with staffing levels.
• Working more hands on hours and saving on wages.
• With the introduction of a website and e-commerce.
• With an enhanced website.
Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.
PROPERTY DETAILS
The property is detached over 2 storey’s with private parking and 2 bedroom owners accommodation.
The restaurant has over 60 covers. The customer curved bar area and further seating. There are customer toilets.
To the rear is a store room. There are a toilet and staff facilities and a fully equipped commercial kitchen.
FIRST FLOOR
On the first floor there is 2 bed rooms, kitchen diner, lounge, bathroom with w/c and basin.
EXTERNAL
To the side patio area there is seating for 30 diners and further seating out front.
To the rear is car park for 20 cars.
EQUIPMENT WITH SALE
All fixtures and fittings and equipment are included in the sale price and are valued at £55,000.
FINANCIAL DETAILS
The present annual turnover is £850,000 with a gross profit of 53%. The wages are £167,000. The present value of the stock is £20,000.
The potential turnover of the business within the next 2 years is forecast to reach £950,000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.
TRADING HOURS
Monday to Sunday 11.00am to12.00am
TENURE
The original length of the lease was 20 years with 10 years remaining. The rent is £63,000 pa. . The rates are £17,000.
VIEWINGS
The owners are available for viewings at any time by prior arrangement.
Price: £535,000
Ref: 2163
Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations ,figures and information given on behalf of the seller. | | | | | | FOR SALE | | | | | REFERENCE: | 2163 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
