Ref 8300 Leasehold
centrally located and recently refurbished freehold or ‘free of tie’ lease restaurant, bar and coffee shop for sale superbly positioned within the tourist town of llandrindod wells, powys
• Prominent corner position in the heart of this popular tourist town in Powys.
• Bar, Dining Area & Coffee Shop (circa 30) offering bar servery, solid wood floors and modern décor.
• Restaurant (circa 20) benefits from solid wood floors, modern furnishings and chic décor.
• Spacious Patio Terrace Area (circa 40).
• Commercial Catering Kitchen.
• 8 En-Suite Letting Bedrooms (need completing).
• 3 Bed Living Accommodation (needs completing).
• We are advised turnover for y/e 06/19 is circa £288,000 (inc VAT) with a trade split of 30% wet and 70% dry.
• Freehold or Lucrative ‘Free of Tie’ Lease with an option to purchase.
Modern and chic restaurant, bar and coffee shop
This delightful stone built Freehold or ‘Free of Tie’ Leasehold Restaurant, Bar and Coffee Shop with potential for 8 Letting Bedrooms is centrally positioned on Temple Chambers within the sought after tourist town of Llandrindod Wells, Powys.
Llandrindod Wells was one of the original Spa Towns in the UK and is still well known for its healthy living and friendly atmosphere. The area is renowned for its walking and cycling trails and offers other local attractions such as water sports on Llandrindod Lake, Leisure Park, Golf Course and a variety of Museums.
The town has a good range of local and national shops, amenities and good schooling.
This Recently Refurbished Freehold/’Free of Tie’ Restaurant, Bar & Coffee Shop is built of stone construction, under a tiled roof, occupying an excellent prominent corner position in the heart of this desirable town.
The Dining Area/Bar/Coffee Shop (circa 30) is a lovely light and airy room that offers modern décor, solid wood flooring and a bar servery area.
The Restaurant (circa 20) is in keeping with the other trading area and benefits from solid wood floors and modern furnishings.
This unique business has a lovely feel and is a multi-purpose business with customers having a choice of dining, coffees or just a drink and a chat.
Ladies and Gents W.C.’s + disabled facilities.
There is a Commercial Catering Kitchen with stainless steel appliances and work surfaces (appliances not tested).
There is a Lower Ground Floor Cellar with python and cooler systems. There is a Ground Floor Bottle & Dry Store.
On the 1st & 2nd Floors are 8 Large Rooms ideal for En-Suite Letting Bedrooms. The current owner has started these but are not complete and is open to negotiation with a lessee.
Located on the 3rd Floor and briefly comprises of: Four Large Rooms that when finished will comprise of 3 Double Bedrooms (potential for all to be en-suite) and Large Lounge (potential for kitchenette). This area needs work…..our vendor is flexible with a lessee.
To the front of the property is a Lovely Patio Terrace Area offering seating for approx. 40 customers.
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:
7 days per week 11am - Midnight
Current opening hours are:
Tues – Thursday Midday – 2.30pm
5pm – 9.30pm
Fri – Sat Midday – 10pm
Sunday 3pm – 7pm
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 freehold (although we have not had sight of the title deeds) or as a new highly favourable 10 year Private Fri Lease Agreement as follows:
1. The asking premium will be £29,950.
2. The initial rent will be £27,500.
3. The annual rent is simply rpi linked to inflation every 3 years, hence no market rent reviews.
4. Rent payable monthly in advance.
5. Deposit equivalent of 3 month’s rent.
6. Lease assignable after initial 2 year period.
7. Free of all brewery and supply ties.
8. Each party responsible for own legal fees relating to the transaction.
9. We are advised that our vendor client would be agreeable to insert an ‘Option to Purchase’ clause within the lease agreement, to enable the lessee to subsequently purchase the freehold element at a price to be mutually agreed.
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 all mains services and is heated by gas central heating. (no services seen or tested). Business rates are advised as currently being £3,600 payable.
The current owners purchased the property in July 2017 and after a full ground floor refurbishment and a complete rebranding the business has continued to grow and is a popular addition to the town.
Our vendors have other business commitments and cannot offer the business the time it desires offering new owner operators the opportunity to continue to grow the business. Our vendors are extremely flexible in regards to the options offered and are happy to lease or sell the freehold outright.
We are advised turnover for y/e 06/19 is £288,000 (inc VAT) with a trade split of 30% wet and 70% dry.
This business was viewed by Marc Blackford who would be delighted to discuss further details.
Viewing appointments must be made by contacting Guy Simmonds.
Details Prepared: August 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.