Ref 8227 leasehold
well presented and highly popular ‘free of tie’ inn with 80 dining covers located in the heart of the populous historic and bustling lincolnshire market town of bourne
• Traditional family inn & restaurant sitting in prime location in the centre of the bustling Lincolnshire market town of Bourne.
• Large open plan Lounge/Restaurant trading area (circa 80 covers) with comfy furniture, well presented surroundings & furnished to an exceptionally high standard.
• Fully equipped Commercial Catering Kitchen.
• Ground floor Beer Cellar.
• CCTV throughout.
• Delightful slabbed Al Fresco Patio Area with wooden picnic benches ; Patron’s Car Park.
• Advised turnover circa £276,000 (incl. VAT) for year ending 30th September 2018 – trading on reduced opening hours.
• Trade 67% Food sales : 33% Wet sales.
• An attractive totally ‘Free of tie’ privately owned renewable lease.
This delightful business is located in the heart of the bustling historic Lincolnshire market town of Bourne situated on the western edge of the Lincolnshire Fens. Nearby points of interest include the colourful and historic town of Spalding, the county of Rutland (the smallest county in the UK) with its popular tourist magnet attraction of Rutland Water and the Elizabethan Burghley House where the famous horse trials are held. The famous Grimsthorpe castle & estate are also close by. There is a market every Thursday & Saturday & many craft & antique shops within the town which is also home to Bourne Corn exchange - a popular venue for local events. With a current population of over 15,000 this will grow in the near future with new housing/townships currently being built on the edge of the town. The nearby road networks are excellent with the A1, A15, A16 and A17 all within easy reach.
This landmark inn is of partially rendered brick construction and sits under a pitched, tiled roof. The property occupies an imposing prominent position overlooking the town centre.
A flagstone entrance porch to the rear and a small porch area to the front of the property both provide access to the open plan trading area. This consists of:
Large Open Plan Family Lounge/Restaurant (circa 80 covers plus standing) is a substantial room with a lovely warm and welcoming relaxed atmosphere. The room is fully carpeted and is furnished to an exceptional standard with a spacious raised area to the side. Loose assorted tables and assorted dining chairs are complimented by a relaxed waiting area with leather tub chairs and a comfy leather settee. There is a well-presented bar server of wood construction and an attractive ceramic tiled perimeter, a rotating cask ale hand pull and a continental coffee preparation station to one end. The room also has an awp and 2 x hdtv’s.
Ladies, Gents & Disabled W.C.’s.
There is a fully equipped Commercial Catering Kitchen Area with stainless steel appliances and surfaces (appliances not tested). There is also a ground floor beer cellar providing additional storage. There is a separate storage room currently used for dry goods, fridge/freezer storage and a walk-in cold room. There is also a large office area.
There is no owner’s accommodation at this business & the property is a lock up.
To the rear of the building is a slabbed al fresco Patio Area with wooden picnic benches (circa 40+) with small picket fence and colourful flower baskets, tubs & troughs. Also to the rear of the property is the Patron’s Car Park with spaces for circa 16 cars.
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- Sun 10am to 2.30am
Current opening hours are:
Mon - Fri 10am to 3pm
Mon – Fri 6pm to 11pm
Saturday 10am to 11pm
Sunday 12noon to 6pm
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.
The business is offered for sale as a lease assignment with approximately 5 years remaining of the privately owned, full repairing and insuring, renewable agreement. We are advised that the inn is totally ‘free of tie’ on all products. We are informed that the rent is currently £42,000 per annum to be reviewed in 2019. We are 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). Business rates payable are advised as currently being circa £12,240 per annum.
The current owner purchased the business in 2009 and has since established a highly popular thriving business with a solid trading foundation. The
business attracts not only a loyal, & desirable clientele but also attracts repeat bookings for the many meetings, functions & events that are held here all year round. The business is currently operated by our Vendor’s Manager assisted by circa 10 part time members of staff. Our vendor client is now looking to sell the business on in order to be able to concentrate on other business interests. The current business focus is on food however, in our opinion, it provides opportunity to be taken to the next level. This could be achieved by the introduction of a quiz night, food themed event evenings or even a comedy/music night all of which have been proven highly popular in the past. It would also be an opportunity to extend the currently reduced opening hours. We are advised that accounts declare takings of circa £276,000 inclusive of VAT for year ending 30th September 2018. This was achieved on reduced trading hours and with a trade split of 67% Food sales & 33% Wet sales. In our opinion this business would suit an owner operator/couple who have previously worked in a similar hospitality environment.
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.
Viewing appointments must be made by contacting Guy Simmonds.
Details prepared June 2019
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.
If size stated =1m2, this is because no measurements are available at this time.
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.