A CHARMING EXAMPLE OF A BRITISH VILLAGE INN WITH STRONG COMMUNITY SUPPORT

Price:

Leasehold - £32,950

Seller Ref:

S4815L

Location:

East Yorkshire

Business Type:

Pubs

See Other:

Public houses for sale in East Yorkshire
Pubs for sale in East Yorkshire

Description:

THE BUSINESS:

Turn over in excess of £156,000 inc vat split 70% Wet 30% Dry £32,000 net profits. BIG RENT REDUCTION FROM THE END OF MARCH 2012 A welcoming bar area with 3 open fires spread around the multi roomed interior (seating 50).In addition a further room with open fire and feature fireplace (seating 24). A well equipped catering kitchen & central bar servery 3/4 bed roomed living accommodation A car parking area to the back of the pub with several outbuildings used for storage, a barn, ready to convert into two holiday lets and a large beer garden. Held on a 10 year renewable protected lease from 2007 LOCATION (YO25 4RG) Situated in the village of Kilham, which has a population of approximately 1,000. Easily reached by the A614, the A166 and the B1249, Kilham is an affluent area with a mix of residential properties. The Old Star Inn stands opposite All Saints Church, a Norman church, which is well known for its annual flower festival that attracts many visitors. Surrounded by a dozen other villages within a 5 mile radius, and the market town of Driffield just 6 miles away, there are many potential customers to be reached. Driffield is known as the Capital of the Wolds due to its location between Bridlington, Beverley and York. Scarborough is 17 miles drive away. PROPERTY DESCRIPTION A double fronted whitewashed property with decorative shutters to the windows, hanging baskets and window troughs. Access via the side of the adjoining cottage to a car park and part flagged and part grassed beer garden. Several outbuildings to the rear are used for storage, one as a laundry room, one with a walk in chiller for catering purposes and there is a bottle store. Also to the rear of the property is an adjoining barn that had planning permission for two holiday lets, this permission has now expired but a new owner should be able to reapply. The present owners have still got the original plans. On the inside there are three areas (50+) surrounding the central bar all with a mix of wooded flooring and carpet. There is a lot of exposed brick and stonework, wood panelling and ceiling beams. The separate room ( 24) to the rear could be used during busy times, as a separate restaurant or as a separate function area for small private parties, this area has a large feature fireplace and quirky stone and render walls. We are advised that there is a further space behind this room, at present unused. In the Ground floor cellar, where the present owners take pride in keeping their range of cask beers. The catering kitchen is of a useful size and well equipped. OWNERS ACCOMMODATION Consisting of 2 floors. To the first floor there is a newly installed kitchen and living area and a further two double bedrooms. There is a house bathroom that has a presently unused sauna cabin. To the second floor there are two further double rooms. EXTERNALS A double fronted property with white washed brick work and ornate shutters. Car parking available, out buildings for development and large beer garden part flagged and grassed. PREMISES LICENSES We are advised that the business currently opens at limited times. Mon 6pm-12, Tues -Thurs 5pm-12, Fri 4pm-12, Sat 12-1am and Sun 12-11pm. Therefore there is an opportunity to expand the business with longer opening times throughout the day. The Premises license provides for openings from 11am till 1.am Mon-Sat and 11am-11pm on a Sun. A personal license will be required and our training associates can assist with this for you along with other licensed retail training inc BII courses. TENURE We are instructed by our private clients to offer by way of a lease assignment of a fully protected and renewable at no further cost, 10 year Enterprise Inns agreement from 2007. The current rent is £24,000 pa. Further to s rent review, from the 27th March 2012 the rent is being reduced to £15,000pa. Generous barrelage discounts are offered. In addition until September 2012 the Inn benefits from small business rate relief. SERVICES We are advised that the pub benefits from mains electric, water and gas. THE BUSINESS Our clients have owned the business for approx 4 years and have run it according to their choice of lifestyle. They have developed a healthy trade to meet their requirements and have a good local customer base. The opportunity to develop a good restaurant trade is there for the taking. With several outbuildings and space to the rear, the potential to increase profits can be easily achieved. We are advised that the current landlords are willing to fund the conversion of the barn at present if the new owners require. We are advised that sales are £156,000 inc vat split 70% Wet to 30% Dry and a Net profit of £32,000 is shown. Our clients are putting the business on the market due to a life style change. AN EASY LIFESTYLE WITHIN A MOST PLEASANT EAST RIDING VILLAGE AT AN ACCEPTABLE INGOING COST Our FINANCE ASSOCIATES will be pleased to advise and assist in the purchase of this outstanding business. The Property was viewed by Shirley Ibbotson who will be delighted to discuss the opportunity with you 7 days a week on 07880 507517. Viewings appointments can be made via one of GA-SELECT Business Managers on 01530 41 41 40 who can also refer you to experienced solicitors, accountants, and other trade experts.