Pub/bar for sale in High Street, Lincolnshire: Nr. Grantham NG33

£34,950 (£8.33/sq. ft)
Pub/bar for sale 390 sq. m*
Interested in this property? Call +44 1332 494756 * or Request Details

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Property description

Ref: 8101 leasehold

Well-established, popular and highly profitable unopposed Inn located in the bustling village of Colsterworth

• A growing cosmopolitan village sitting ½ mile from the A1 between Grantham & Stamford and only a stone’s throw from the beautiful county of Rutland.
• Bar (c30+ plus standing) with air con, games facilities and access to the rear lower al fresco garden area.
• Lounge (c32+ plus standing) with exposed brick-built fireplace and log burner, comfy seating and lovely views of the village church and countryside beyond.
• Restaurant (50+ covers) with exposed stone walling, log fire and an attractive parquet floor.
• Fully equipped commercial kitchen with 5* eho.
• Split level (upper/lower) grassed and slabbed al fresco garden area with covered pergola and established shrubbery borders : Patron’s car park.
• 3-bedroom owners’ accommodation.
• Advised turnover circa £636,224 (incl. VAT) for year ending 31st March 2018 (inc sandwich business).
• Trade 50% Wet sales ; 50% Food sales.
• Genuine retirement sale.


An unmissable opportunity to acquire A thriving established and highly popular business

location


This delightful inn is located in the bustling Lincolnshire commuter village of Colsterworth (home of Sir Isaac Newton) sitting only ½ mile from the main A1. Colsterworth is a growing village with an additional 47 houses with planning approved and building to commence in 2018. The village has a sought after primary school, a local co-op, village amenities and a lovely church. Nearby points of interest include the towns of Grantham & Stamford, the tourist magnet of the county of Rutland and a myriad of local golf courses. Burghley House (where the famous horse trials are held), Belton House and Easton walled Gardens are also close by. The nearby road networks are excellent with the A1, A52 and A15 all within easy reach.


The property


This spacious unopposed inn is of stone construction with a partial upper wooden façade and sits under a pitched, pan tiled roof on the main road running through the village. Two entrances to the front (one with disabled ramp) provide access to all the trading areas. These consist of:
Bar (circa 30+ plus standing) is a good-sized air-conditioned room with loose tables, assorted chairs and a poseur table with high stools all sitting on a solid oak and vinyl tiled floor. The room has a pool table, 2 darts throw’s and an awp with a wall mounted hdtv, big screen and projector, with both Sky TV and BT Sport available. There is also a small bar server of wood construction with a ceramic tiled perimeter and patio doors that lead out onto the lower al fresco patio area. This leads directly through to:
Lounge (circa 32+ plus standing) has a warm and welcoming atmosphere and provides fabulous views of the village church and the countryside beyond. Loose tables and assorted leather upholstered and fabric tub chairs all sit on a fully carpeted floor with an exposed brick-built fireplace with built in log burner to one side. Local historic photos adorn the walls and there is a long bar server of wood construction with ceramic tiled perimeter and 3 cask ales on offer. Leads to:
Restaurant (50+ covers) is a delightful multi-use room with attractive loose tables and chairs all sitting on areas of carpet and parquet flooring. The room has areas of exposed stone-walling and to one end is an exposed stone-built fireplace with open log fire and twinkling fairy lights above. There is also a small bar server of wood construction with coffee service station. Although predominantly used for dining this area is multi-use and able to be laid out as required and to suit the occasion to include functions, private parties and meetings.
Ladies, Gents and Disabled W.C.’s.
There is a fully equipped commercial catering Kitchen with stainless-steel appliances and surfaces (appliances not tested) and 5* eho rating. There is a below ground floor Beer Cellar with python, remote and pumps etc plus additional storage space.

Owner’s accommodation
The owner’s accommodation has private access and is situated on the ground and first floor. This briefly comprises of: 3 bedrooms (2 double/1 single), lounge/kitchen-diner, bathroom and WC.


External


To the rear of the property is an attractive split level upper and lower floodlit al fresco garden area. The lower slabbed garden has assorted rattan and wooden garden furniture (c20+) with a covered pergola, colourful planters and established shrubbery borders. Steps lead to the upper enclosed grassed garden area with wooden picnic benches (c30+). To the front of the property are 2 small slabbed patio areas with wooden picnic benches (c20+), village church views and lovely colourful baskets and planters. The patron’s car park is located to the front and rear and provides spaces for circa 24+ cars.


Trading & licensing


We are advised that the business trades with the
benefit of the Premises Licence (not seen) which
permits the sale of alcohol during the hours of:
Mon- Weds 11am to 11pm
Thurs – Sat 11am to midnight
Sunday 11am to 11.30pm

Current opening hours are:
Sun- Thurs 12noon to 11pm
Fri/Sat 12noon to midnight
nb. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the aplh Qualification in readiness for their intended operation of the Public House.


General remarks


The business is offered for sale as a lease assignment with approximately 5 years remaining of the Punch Taverns (now Star Bars owned) full repairing and insuring, renewable agreement. We are advised that the inn is free of tie on wines, spirits and minerals and attracts healthy ‘off invoice’ discounts. We are informed that the rent is currently circa £49,750 per annum to be reviewed in 2023. We are also advised that at the end of the term, the Lease (not seen by Guy Simmonds) should be renewable with no further premium – subject to the provision of the Landlord & Tenant Act 1954. We are advised that the inn benefits from mains services (no services seen or tested) however also uses Calor gas but only for cooking purposes. Business rates payable are advised as currently being circa £15,770per annum


The business


The current owners purchased the business in August 2007 and have since established a popular thriving business serving quality home cooked food and a selection of ales and drinks to a loyal, repeat and desirable clientele. The business is currently run by our vendor clients assisted by 1 full and c14-part time/casual members of staff. Our vendor clients are now looking to retire from the industry in order to be able to take life at a more leisurely pace. The business sits at the centre of the local community and offers a weekly quiz and occasional live entertainment whilst also playing host to several clubs and societies and supporting in house crib and darts teams. There is also an established and highly popular thriving local sandwich business that offers food, drinks and snacks delivered to the surrounding area. We are advised that accounts declare takings of circa £636,224 (to include the sandwich business) inclusive of VAT for year ending 31st March 2018. This has been achieved on a trade split of 50% wet and 50% Food sales. New owners could continue to operate the business using the same successful formula or they may wish to take the business to the next level.
In our opinion, this could be achieved by the introduction of further in-house teams and expanding the sandwich business even further afield.
There is scope for further potential business development such as provision of letting rooms, (STPP), there is a general shortage in the area despite a great demand for such facilities.
Accounting information will be made available to interested parties after viewing.
This business was viewed by Richard Fletcher who would be delighted to discuss further details

Details prepared June 2018

Note: Size quoted is usually the Total Useful Floor Area taken from the EPC and is for guidance purposes only and no responsibility is assumed by Guy Simmonds for the accuracy.

Viewing: All appointments must be made through Guy Simmonds. Please note that these Sales Particulars are issued on the strict basis that all negotiations, viewings and contacts in connection with this business are conducted through Guy Simmonds who are appointed by the vendor to act under a Sole Selling Rights agreement with total confidentiality. Any breach of these terms may make you liable in law to litigation and damages. Under no circumstances must you approach the owner direct without a formal appointment or disclose to other customers and staff that the Premises are for sale.

Finance for purchasing A licensed property: We are in constant touch with a leading finance broker who specialises in arranging Business Finance for Licensed Properties. Whether you are purchasing a Licensed Property through ourselves, or another agent, we will be pleased to contact on your behalf our specialist who can arrange the necessary Finance Package for you at preferential rates. Please telephone for free and no obligation advice with regards to financing a Business.

Guy Simmonds for themselves and for the vendors or lessors of this property and/or business whose agents they are give notice that:-
(I) These particulars are a general outline for the guidance of intending purchasers (or lessees) and do not constitute an offer or contract, nor any part of an offer or contract.
(II) All descriptions, dimensions, distances, maps/plans, references to condition, trading figures and other items in these particulars are given as a guide and no responsibility is assumed by Guy Simmonds for the accuracy of individual items. Intending purchasers (or lessees) should not rely on them as statements of representations of fact and should satisfy themselves as to the correctness of each item by making independent enquiries.
(III) Intending purchasers (or lessees) should make their own independent enquiries regarding the use of the property, necessary permissions for use and occupations, potential uses and any other matters affecting the property prior to purchase.
(IV) Guy Simmonds do not make or give whether in these particulars, during negotiations or otherwise, any representation or warranty in relation to this property. No responsibility is taken by Guy Simmonds for any error, omission or mis-statement in these particulars. Guy Simmonds do not warrant the accuracy of any accountancy information supplied and purchasers are advised to take independent advice in order to satisfy themselves.
(V) Guy Simmonds are unable to give any warranty as to the working order of any apparatus, equipment, fittings or services associated with the premises and therefore, cannot verify they are in full working order. Purchasers are strongly advised to obtain specialist reports prior to exchange of contracts in order to satisfy themselves.
(VI) All statements and descriptions are made without responsibility or warranty by Guy Simmonds, the vendors or lessees. Neither do Guy Simmonds nor the vendors/lessees hold ourselves responsible for any expenses whatsoever incurred by applicants inspecting Businesses which may be sold or withdrawn, to include travelling, valuation/survey, legal fees etc.
(VII) No person in the employment of Guy Simmonds has any authority to make or give any representation or warranty whatever in relation to this property.
(VIII) It should not be assumed that the contents of any photographs are included in the sale.
(IX) All prices quoted are excluding stock at valuation.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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Guy Simmonds, DE73 on +44 1332 494756 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Guy Simmonds, and do not constitute property particulars. Please contact Guy Simmonds for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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