Popular Hotel And Restaurant In Southampton Hampshire | | Southampton Hampshire | | Public House/Restaurant/Hotel, T/O: £900,000 GP: 55% 23 en-suite letting rooms Function facilities Large car park Scope to develop further | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 67901
ADVERT IMPRESSIONS : 11,859 TIME(S) | | | | BUSINESS SECTOR: | Hotels / Pubs / Accom | | TRADE TYPE: | Hotels | | SALE: | Agent Sale | LEASEHOLD: | £1200000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Location
This popular bar, restaurant and hotel is situated in a prominent main road location near Southampton, Hampshire. The business has a riverside location and benefits from much passing trade. There is a bus stop directly outside the pub and ample car parking to the side. The area has become popular with tourists after being heavily used in the filming of the TV series Howards' Way. The business has good transport links and the the A-road network and M27 motorway are close by.
Business History
Preferred Commercial is delighted to offer for sale this popular bar, restaurant and hotel, which offers 23 en-suite letting rooms, which was established in 1921 and which has been in our client's careful hands since 1994. The business generates a turnover in the region of £900,000 per annum with a gross profit of 55%. The business is food led on a 60/40% split and is exceptionally busy in the mornings with breakfast meetings. Our client has contracts in place for accommodation with several local businesses. The business regularly hosts live bands and other entertainment as well as offering private function facilities. The premises are well-presented and maintained throughout and boast a large bar and two restaurant areas. There is scope to increase turnover by promoting the restaurant and private function facilities further. The whole site is on a 30 year renewable lease with Enterprise Inns, with rent payable only on the pub side of the business. Our clients have built the hotel and letting rooms themselves, which does not attract any rent during the period of the lease. It should also be noted that there is additional land extending to approximately 2 acres to the rear and side of the property, which is potentially available by separate negotiation. This would allow for further expansion of the business, subject to necessary planning consent. This represents a unique opportunity to acquire a thriving hotel in such an ideal location. Early discussions with Preferred Commercial are highly recommended.
Financial Details
T/O: £900,000 approx.
GP: 55%
Opening Hours
Hotel
All year round
Bar/Restaurant
Mon - Thurs: 7.00am - 11.00pm
Fri - Sat: 7.00am - 12.00am
Sun: 7.00am - 10.30pm
Accommodation Details
Substantial public house and hotel, tastefully extended to offer 23 en-suite letting rooms and restaurant facilities. Briefly comprising:
Ground Floor
• Reception area with desk, seating and tables
• Very large bar area with bar servery offering 9 points of dispense, 6 bottle chillers, electronic cash registers, pool table and a range of tables and chairs
• Conservatory area with tables and chairs
• Well-equipped commercial kitchen with 8-burner hob and ovens, fryers, griddles, grills, refrigerators and freezers
• 15 x double or twin letting rooms with TV, tea & coffee making facilities and en-suite shower, WC and wash basin
• 2 x single letting rooms with TV, tea & coffee making facilities and en-suite shower, WC and wash basin
• Spacious purpose built function room fitted to suit trade to cater for wedding receptions, parties etc.
First Floor
• 6 x double or twin letting rooms with TV, tea & coffee making facilities and en-suite shower, WC and wash basin
• Manager's accommodation with double bedroom, bathroom and kitchen
Lower Ground Floor
• Large beer cellar fitted to suit trade with bottle store and access from car park
External
• Large car park to side and rear for approximately 58 vehicles
• Field to side and rear available by separate negotiation
Tenure
Leasehold
Original length: 30 years
Remaining: 14 years
Review: every 5 years
Rent: £45,000 per annum | | | | | | FOR SALE | | | | | REFERENCE: | 2721 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
