Cosy bar and restaurant in converted stone barn for sale in Ulverston Cumbria
Ulverston, Cumbria
- Status
FOR SALE
- Advert ID
644271
- Reference
96097 / Rightbiz
- Call Agent:
- Leasehold: £95,000 (Stock at valuation)
- Rent: £53,277 (£4,440 per month)
- Turnover: £755,995 (£14,538 per week)
- Profit: £130,000 (18% Profit margin)
Business Details
SOUTH LAKELAND – COSY BAR AND RESTAURANT IN CONVERTED STONE BARN
Edge of Lake District National Park
Prime A road position
Bar (60). Restaurant (70)
Function room (18)
Two bedroom owners’ accommodation
Net sales: £755,995
SELLER REF 96097
The Old Farmhouse is located on Priory Road/A4087 in the South Lakeland market town of Ulverston. The town lies on the Furness Peninsula, a few miles south of the Lake District National Park and northwest of Morcambe Bay. The area has many independent shops, traditional markets, cobbled streets and cultural hotspots, in addition to rolling farmland, coastal villages and the prominent Sir John Barrow Monument at the top of Hoad Hill.
Ulverston lies on the A590 which links the M6 to Barrow-in-Furness and gives access to the Lake District National Park and West Cumbria.
The Property
The Old Farmhouse is a stone built, lock-up property with a single brick extension to the side and a two storey owners’ flat. The property is approximately 422 sqm.
The Old Farmhouse is an established bar and restaurant with a strong customer base, known for its extensive food menu, televised sports events and sizeable trade yard. It sees a high demand for private functions and events from local businesses; there is nothing comparable in the Ulverston locality.
Net sales for the year ended 31 March 2024 are £755,995 with an adjusted net profit in excess of £130,000. Dry sales account for 60% of sales.
In our opinion, this opportunity would suit a ‘hands-on’ single or multiple operator who wishes to build upon our clients’ success over the past eight years.
LEASEHOLD £95,000 to include goodwill, fixtures and fittings.
The property is held on a full repairing and insuring lease from Star Pubs & Bars Limited for a term of ten years, commencing 03 August 2022. The lease falls within the security provisions of the Landlord & Tenant Act 1954 and is fully assignable. Rent is £53,277 per annum plus VAT with periodic rent reviews every fifth anniversary of the start date, and annual RPI rent increases.
An incoming party will be required to provide a rental deposit to the Landlord of £13,319.25 in advance plus personal guarantors. The lease is of partial tie on draught beers and bottles beers only.
No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.
Contact Agent
Energy Performance Certificate (EPC)
Listing Statistics
Advert Statistics Graph
Contact the seller for more details, or book a viewing
Stay Safe
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.
Stay Safe
Do not share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
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.
Stay Safe
Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
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.
Stay Safe
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.
Stay Safe
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.'.
Stay Safe
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.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
Contact seller
Stay Safe
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.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
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.
Stay Safe
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.
Stay Safe
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.
Stay Safe
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.
Stay Safe
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.'.
Stay Safe
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.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
Get Solicitor
