18th-Century Roadside Pub with Accommodation for Sale in Landmark Dorset Village
Wareham, Dorset
- Status
FOR SALE
- Advert ID
611881
- Reference
94597 / Rightbiz
- Call Agent:
- Leasehold: £60,000
- Rent: £29,640 (£2,470 per month)
- Turnover: Not Applicable
- Profit: Not Applicable
Key Features
- Prime Location
Business Details
DORSET PROMINENT ROADSIDE PUBLIC HOUSE IN POPULAR LANDMARK VILLAGE
18th century character public house
Popular landmark village
Character main bar (36)
Catering kitchen
3/4 bedroom accommodation
Spacious lawned garden & patio
Car park (12)
Gross annual turnover around £500,000
LOCATION:
The Castle Inn is located on the A351 in the picturesque village of Corfe Castle, a popular tourist destination situated at the base of Corfe Castle, an 11th century fortification of the same name which was built by William the Conqueror. The village is located in the Isle of Purbeck district of Dorset and has a population of around 1,400. The village and castle stand over a gap in the Purbeck Hills on the route between Wareham and Swanage. The village lies around 6 miles southeast of Wareham and 4 miles northwest of Swanage.
There are many attractions within the area, with the Swanage Heritage Railway running from Norden through Corfe Castle to the seaside of Swanage. The town of Swanage is a desirable location, famous for its award-winning sandy beaches, and is located at the beginning of the World Heritage Jurassic Coastline. The town of Swanage has a population approaching 10,000.
The Castle Inn occupies a Grade II listed, detached property of Purbeck stone construction with a pitched stone slate roof. The property is briefly described as follows:
PROPERTY:
TRADE AREAS
GROUND FLOOR
Front entrance into MAIN BAR, a single bar that has bare stone walls and exposed ceiling beams. This trading space features two inglenook fireplaces (one not in use), flagstone flooring, tile topped bar servery and polished colonial furnishings to seat 36 customers.
CATERING KITCHEN with vinyl flooring and an extensive range of stainless steel equipment with extraction system. DRY STORE. Refrigerated BEER STORE.
LADIES’ and GENTLEMEN’S TOILETS.
OWNERS ACCOMMODATION
FIRST FLOOR
THREE DOUBLE BEDROOMS (one with an en suite shower room). FAMILY BATHROOM. GALLEY KITCHEN.
SECOND FLOOR
LARGE SITTING ROOM/DINING ROOM.
EXTERNAL
Forecourt SEATING for 30 customers. Tarmacadam CAR PARK for 12 vehicles.
Sheltered REAR PATIO with electric heaters and bench seating for 16 customers. SERVICE YARD with outbuilding comprising UTILITY and DRY STORE. Additional outbuildings utilised for storage. Beyond is a lawned REAR GARDEN with bench seating for over 100 and bespoke, castle shaped children’s climbing apparatus.
BUSINESS:
The Castle Inn has been in the present owners’ hands since December 2006. Since then, they have turned the premises into a popular, wet-led drinking establishment. The business benefits from a strong summer trade thanks to its position within the National Trust village of Corfe Castle. The Castle Inn also has a popular food menu with locally sourced produce and well-liked Sunday lunches.
We have been advised that the annual gross turnover for the business is approximately £500,000. Please note we have not had sight of certified accounts, but understand full profit and loss accounts may be made available to serious parties following a formal viewing.
Our clients are selling the business as the look to retire. We are of the opinion that a new operator could further expand on the food offering at the Castle Inn.
TENURE:
LEASEHOLD £60,000 to include goodwill and fixtures and fittings. Stock at valuation in addition.
The Castle Inn is held on a 20 year full repairing and insuring lease from Punch Taverns which commenced in December 2006. The lease falls within the security provisions of the Landlord & Tenant Act 1954 and is fully assignable. Rent currently stands at £29,640 exclusive of VAT per annum, paid monthly in advance, subject to five yearly rent reviews with annual RPI adjustments. An incoming party will be required to provide a rental deposit to the Landlord in advance. The lease is of partial tie on beers, cider, ale and soft drinks; free-of-tie on wines and spirits.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
LICENCE:
A full Premises Licence is held.
LOCAL AUTHORITY : Dorset Council, County Hall, Colliton Park, Dorchester, DT1 1XJ
Rateable Value : £19,500
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Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
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Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
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The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
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Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
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Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
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Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
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Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
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Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
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