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Popular Pub with Great Owner's Accommodation

Undisclosed, Somerset
Leasehold Price:
£179,950
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
218923
Reference
2964-C I / Rightbiz

Details

Business
Hilton Smythe is delighted to welcome to the market this well-established and very popular public house, in a prime trading location in Somerset.

The business was originally established in 1900 and has been in our client’s careful ownership since 2000. Only now is the business being offered to the market due to our client’s unfortunate health problems. The business operates 7 days per week and according to 2016 accounts the business generated a turnover in the region of £426,500, with a good gross profit.

Our client offers a good selection of fine ales, lagers and wines, as well as an extensive range of spirits and fortified wines. The property boasts a large lounge area with a bespoke bar incorporating 20 points of dispense and a massive array of spirits and optics, illuminated with spotlights. To the first floor is the owners’ accommodation with three double bedrooms, a large lounge, a kitchen and a bathroom. To the rear of the property is a detached building, which has been converted into a cocktail bar.

The business has built up an enviable reputation within the area for the high quality of the goods and service offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

We feel there is scope to increase the turnover by embarking on a modest marketing campaign to highlight the goods and services offered. A new owner could also launch a website to promote the business. There is also scope to introduce food sales and to re-open the cocktail bar as a late night venue, with the relevant permissions.

This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this already busy and thriving business to the next level; therefore early viewing must come highly recommended.

Location
This public house occupies substantial two storey premises, ideally located within Somerset. The business is surrounded by a mix of commercial and residential properties, from which the business derives much trade. The public house is located just off the main shopping centre, therefore benefiting from a very high volume of footfall and passing trade. The business further benefits from good car parking facilities within the area.

The area of the business is served by the public transport system, with bus stops being within easy walking distance of the property. The nearest railway station is approximately 13 miles away. The area is also well served by the A-roads, with the property being within easy driving distance of two A-roads, which link to the national A-road and motorway networks.

Premises
Substantial stone built two storey premises in an ideal trading location , briefly comprising:

Ground floor:

A welcoming good sized bar.
Many period features.
Beamed ceilings.
Windows to front creating a light and airy feel.
Bespoke bar with 20 points of dispense and a large array of optics and spirits, illuminated by spotlights, glass fronted bottle chillers and timber flooring.
2 x separate snug areas with carpeted flooring, comfortable seating, wood cladding to dado height, central feature fireplace with wood burning stove, wall mounted TVs and a fruit machine.

Ladies and gents WCs.

Small kitchen area with stainless steel sink and drainer and under cupboards, separate hand wash basin, range of wall and base units, microwave oven and dishwasher.

First floor:

Good size landing currently being used as an office with desk, chair and CCTV monitoring equipment.

Owners accommodation with:

3 x double bedrooms.
Kitchen with a range of wall and base units, stainless steel sink and drainer, stainless steel gas hob with brand new oven beneath, wall mounted boiler and window to rear.
Lounge, which is inviting and comfortable with feature fireplace, picture rail and duel aspect windows.
Bathroom with tiled walls and three piece suite.

External with.

Large garden to rear with a pagoda style smoking shelter. The garden is arranged on different levels with individual smoking shelters, well stocked borders, an array of plants in tubs and pots and a lean too display area, currently showing our client’s collection of Italian scooters.

Cocktail bar with:

Bespoke bar with marble top effect worktop, feature pendant lighting and a restaurant/seating area with a wall mounted TV and separate projector TV. Above this bar and accessed by a spiral staircase is a large room, currently used for storage, but with potential to be converted into guest accommodation.

Next to the cocktail bar is a pool room with windows to the front, a brand new pool table and a large wall mounted TV.

The property also has a good size cellar with doors opening to the garden.

Tenure
We are advised Leasehold:

Original lease length: 10 years
Remaining lease length: 6 years.
Rent: £60,000 per annum

We have been advised that the lease is renewable for either 10 or 25 years.

Hours
The business operates:

Monday – Thursday: 11.30am – 12.00am
Friday – Saturday: 11.30am – 1.30am
Sunday: 11.30am – 12.00am

Staff
The business is owner run and managed with 1 x full time and 6 x part time staff members.

Financial Profile
According to 2016 accounts the business generated a turnover in the region of £426,500, with a good gross profit.



£179,950
Listing Details
Leasehold Price: £179,950
Tenure: Leasehold
Sector: Pubs
Financials
Annual Turnover: £426,566
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