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Businesses For Sale > Business For Sale in LINCOLNSHIRE, UNITED KINGDOM - UK (UK)

8879DN LINCOLNSHIRE L/H£175000/F/H£450000 PUB/HOTEL/RESTAURANT for sale in LINCOLNSHIRE, UK

LINCOLNSHIRE, UNITED KINGDOM - UK (UK)

Asking Price: Gross: Cash Flow:
Undisclosed Undisclosed Undisclosed

Business Summary:
Advent Business Sales is pleased to offer to the market this extremely well established pub/hotel/restaurant, which has been trading successfully since the mid 1960’s. The current vendor has been in ownership for the last 5 years. The owner is reluctantly selling due to health reasons and has agreed to offer the business as both freehold and leasehold to attract a quick sale. Our client has achieved an enviable position of having all the rooms fully let, Monday to Friday, for at least 8 months of the year. The restaurant, which also doubles as a function room, has seating for 125 people. The pub bar can also accommodate a further 38-40 covers. The pub has a pool team and is the venue for the local football team, in season. Two nights are given over to themes, Thursday is curry and a pint for £5.00. Friday is mixed grill club night, again for £5.00. Traditional Sunday lunch is a further highly successful weekly event. The pub is renowned for its Christmas Day lunch in the restaurant, 60 covers are taken for this only and there is already a 13 month waiting list. Food on offer is traditional fare with fresh vegetables served separately in a waiter service manner. Rooms available are as follows: 3 doubles, 1 twin, 3 singles all en-suite. These are located on the first and second floors, security coded from the remains of the building. Décor, fixtures and fittings are good, kitchen well equipped for purpose. The premises benefit from 9 CCTV camera’s, fire and burglar alarms. Stock at cost is approximately £2,500. The 2 owners staff the business full time together with 3 part time employees. The customer base is both local and passing, the letting rooms to local industry.

 

   
Year Business was Established: 2003
   
Number of Employees: 03PT  
   
Facilities / Terms of Lease: Entrance is off the large car park. Separate entrance for bar, restaurant when used for functions and upstairs bedrooms Off the bar entrance is a lobby with both ladies and gents w/c’s Leading to the main bar, which is on two levels, the first level has a pool table and an easy seated area with a large table at one end. The second level has a long bar with tables placed around Door to the upstairs rooms at the far end of the bar room, there is also a doorway to the restaurant – which is laid out in alcoves to give selectivity and privacy Second bar servery is in one corner with hot plate, gravy server, hot plates under store and bain marie All bars have cold fridges and wine coolers etc To the rear of the main bar and restaurant bar is a wash area with glass washer/sink and fridge To rear of this is a chilled cellar and bottle room Off the restaurant is the kitchen containing of: • Water boiler • 4 microwaves • Fridge’s and freezers • Stainless steel work tops with under shelves • 2 slice toaster • Gas grill • 6 burner top with double oven sink • 3 fryers • 2 ambient cupboards – free standing • Work surface, a dessert fridge with hood and extraction over the cooking area This leads to a back yard with a gate onto the main road First floor comprises of 2 single rooms, managers room and housekeepers room. Also the owners flat which consists of 1 large kitchen, large lounge, 2 double bedrooms and bathroom. Second floor consists of 3 double rooms, one single room and one twin room – all en-suite. External There is, to the rear a garden area and a large car park. There is also a partially completed bungalow which could be a family accommodation for owner, thus freeing up more space in the main building for a further 3 – 4 double rooms with en-suite – thus increasing the turn over. TENURE: Freehold or Leasehold Original lease: 12 - 15 years Remaining lease: TBC Review every: 3 years Rent: £700 per week We are advised that the annual business rates are currently: £1700 - £2000  
   
Potential Growth/Expansion: Expand the existing hours, advertise, expand rooms to let by converting bungalow to owner usage, put on disco on Friday and Saturday nights, business conference, food on Saturday’s (not provided at moment).  
   
Reason for selling: The owner is reluctantly selling due to health reasons  
   
Seller Reference Number: 8879DN
BusinessMart.com Listing Number: 45676
 

 

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For more info contact:

Niti Jashvir

Advent Business Sales
0844 8009092

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