POPULAR COASTAL FREEHOLD PUBLIC HOUSE SITUATED ADJACENT TO THE SEA FRONT IN
Price:
Freehold - £350,000
Location:
Lincolnshire , Sutton On Sea
Business Type:
Food Service Businesses, Pubs
Substantial & attractive premises with striking Sea Views.
External seating with views towards the Beach and Children’s Swimming Pool.
Essentially comprises Lounge Bar (circa 40) and Games Room (circa 20).
Extensive owner’s accommodation includes 4 bedrooms.
Thriving business, under same ownership for 18yrs.
Historical turnover circa £175,000+ (inc.) to Y/E Sept 06.
Trade split 75% wet 25% food.
Of interest to Corporates, Pub Co’s and Private Operators.
COMPETITIVELY PRICED FOR COMMITTED ‘HANDS-ON’ OPERATORS TO EXPLOIT THE OBVIOUS POTENTIAL AND ENJOY A FABULOUS LIFESTYLE.
ASKING PRICE £350,000 FREEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.
THE PROPERTY
The 3 storey property has 4 bedroom living accommodation over two floors with some rooms giving sea views. The Inn is situated just across the road from the main promenade, children’s pool and beach.
The Lounge Bar (circa 40) is a traditional bar with a lovely large prominent bar/servery. The Lounge Bar is to the front of the building with double uPVC sliding doors to the outside seating area. Furnished with upholstered perimeter seating and lightly polished tables it features a large screen TV and Satellite Television.
The Rear Bar / Games Room (circa 20) is of a good size with a pool table and darts area. There is access to the rear parking area.
Ladies and Gents W.C’s – situated between the two main bar areas.
Ground Floor Cellar is accessed from behind is accessed from the main Lounge Bar and is well equipped with Flash coolers.
Fully equipped domestic galley kitchen has wall and base units and stainless steel preparation area. (Appliances not tested).
In addition there is a separate freezer, storage and preparation room.
NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the NCPLH Qualification in readiness for their intended operation of the Public House. Guy Simmonds hold this 1 day NCPLH Course every 2 weeks.
THE BUSINESS
The current owners took over the business in October 1989 as a family concern in this established business. This offers an ideal opportunity for new owner operators to continue with the excellent reputation that the current vendor client has achieved along with having the huge scope to take the food sales to the next level and increase turnover and profit accordingly.
Current sales are circa £175,000+ (inc) with 75% wet trade and 25% food. We calculate the reconstituted net profits (i.e. adding back finance costs, depreciation and other expenses) of a very impressive circa £49,000.
The asking price reflects the location and the current trading foundation. In our opinion the growth of the food trade will considerably increase turnover and gross profit. The inclusion of letting rooms is also a viable option for this high tourist traffic part of the country.
This is an absolutely superb business and lifestyle opportunity with genuine growth potential.
Accounting information will be made available to interested parties after viewing.
Viewing appointments must be made by contacting Guy Simmonds on 01332 865112.
The Lincolnshire Coast is host to two very different seaside experiences, the Fun Coast and the Rural Coast. The Fun Coast, stretching from Skegness to Mablethorpe is home to some of the finest seaside resorts in the UK. The most famous resort must be Skegness one of the UK’s top seaside destinations and famous for the Jolly Fisherman. Mablethorpe is an excellent resort with lots of fun for all the family and Sutton on Sea and Trusthorpe have a quality and charm all of their own.
Between and beyond the popular beaches the haunt of wildlife thrives in the unbroken tranquillity of the Rural Coast. Gibraltar Point, Saltfleetby, Crook Bank, Moggs Eye and more all reward those seeking the natural coastline. It is a haven for nature lovers, birdwatchers, conservationists and romantics. These wild stretches of sand are some of the Lincolnshire’s greatest natural assets.
The business is offered for sale freehold (Title Deeds not seen). We are advised that the inn benefits from all mains services and uses gas central heating (no services seen or tested). Business rates are advised as currently being £2,920 per annum.
OWNERS ACCOMMODATION
Set over 2 floors the extensive owner’s accommodation also features two mezzanine landing areas. The accommodation is currently arranged as; 3 double & 1 single bedroom, Shower Room, Family Bathroom, Kitchenette, Office/Study and large Living Room/Lounge. Rooms to the front of the building feature a sea view including the main Living Room. The office could be utilised as a further single bedroom, whilst the first bedroom would suit a further living room or reception room.
EXTERNAL
Through the uPVC double doors at the front of the property is the external seating area. This is a popular sun spot and is externally lit in the evenings. Disabled access.
The property has off road parking for owner’s and staff to the rear of the building.
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