Turn well in excess of £ ½ Million inc vat with a GP of 59% (£277,000) 60% Wet and resulting high bottom line profits after living out of business
Open plan bar lounge providing 70 covers with an elevated area, pool room and many original canal property style features and atmospherics
A waterside conservatory with views of the canal, boats and wild life.
A good size catering kitchen with prep and storage areas
Well presented and comfortable owners accommodation
A large car park to the side of the building that leads to an extensive outdoor seating area on the edge of the canal (75)
LOCATION (LA5 9EA)
The charming village of Carnforth sits on the border between Lancashire and Cumbria. Its surrounded by picturesque AONB (Area of Outstanding Natural Beauty) countryside and is close to the sweeping sands and breathtaking cliff paths of Morecambe Bay. Once an essential waterway for local industries, now a magnet for leisure use, the Lancaster Canal, which runs through Carnforth on its way to the coast, is now a wildlife haven and a paradise for walkers, cyclists and pleasure cruisers. A number of circular walks attract an abundance of tourist, such as the gentle path from Carnforth to Bolton-le-Sands along the towpath and returning through wildflower-rich lanes. There is an occasional waterbus service along the canal from Carnforth to Tewitfield Locks, a series of eight disused locks which once took boats up 75 feet. From here, its a pleasant, relaxed stroll back into Carnforth. Working up a thirst, many walkers enjoy worked up a thirst, a glass of beer or cup of tea at this charming hostelry, overlooking the canal. The locale has a full range of self catering camping and caravan sites along with B&B accommodation You might even want to stay the night, with Carnforth's wide range of camping & caravan sites, self catering and bed & breakfast accommodation. Perhaps therell be a copy of Sir Noel Cowards play Still Life, which inspired the famous film Brief Encounter; filmed at Carnforth Station which itself attracts many thousands of visitors. The Red Brick University of Lancaster is close by and though the business does not rely upon a student base, many of the parents visiting the Uni close this as a favoured watering hole being straight off the A6 & M6.
What our customers say....
Lovely, homely atmosphere. Food very good, starter so large could only just manage our main course and too full for the delicious looking desserts. Not to worry it means we will return. Perfect view over the canal and watching barge life. Also will remember to take bread for the hungry ducks and swans next time.
PROPERTY DESCRIPTION
A detached stone built public house that has retained many original features from the Watermans cottage that stood on this site for many years. The main entrance to the pub is on the canal side via a porch way beyond the conservatory. Inside, a long bar servery is ideally placed and easy to run. At one end of the pub is an elevated seating area with feature fireplace and a flat screen TV. At the other end is a pool room, again with a feature fireplace. A bright and airy conservatory looks over the canal and provides a lovely setting for a relaxed drink with friends. The interior of the pub is a mix of exposed stone work, render and wood panelling, and to the floors there is carpet, slate and wood in separate areas. There is a high, beamed, apex roof that dominates the elevated seating section. With 65/70 covers inside the building and 75 covers in the extensive outdoor section, this traditional hostelry provides a lovely drinking and dining experience. CATERING FACILITIES as well presented and to a professional finish. CLOAKROOM facilities are of a good standard. BEER CELLAR is fully chilled.
OWNERS ACCOMMODATION
Consisting of 1 bedroom, a kitchen, a bathroom and a living room. The accommodation is well kept. There is the potential for a 2nd bedroom.
EXTERNALS
A stone built property with slate roof and a conservatory attached to the rear on the bank of the canal. Outside canal seating (75) is ideal for admiring the graceful swans and cheeky ducks as they bob along on their way. Waterfowl, wild birds and the odd student going for a dip on a balmy summers day are amongst the other variety of birds and animals that thrive on the banks of this luscious canal. What a place to live and work.
PREMISES LICENSES
We are advised that the business currently opens 7 days a week from 11am through to close, however the licensing hours allow for opening from 7am to midnight which would enable a new owner to capitalise on the Fishermans market with breakfasts and early morning imbibing prior to a hard days fishing !!!
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 leasehold sale. The property landlords are Punch Taverns and the business is held on a 10 year fully protected and renewable (at no further cost) part tied lease. Rent passing y/e 2011 was £58,455 pa
SERVICES
We are advised that the pub benefits from mains gas, electric and water. Rates payable are advised as £11,707 p.a.
THE BUSINESS
Our clients have owned the business since the year 2004, and have developed a very healthy trade. The business currently runs on a 60/40 split in favour of Wet, there is therefore plenty of scope to take the food trade further. Sales for y/e 2011 show £567,498 inc vat with a GP of £59% i.e. £277,000 from which to pay rent and all trade expenses which results in a RNP ( reconstituted Net Profit after adding back personal and one off expenses) of £77,000 for the year having lived free out of the business. We believe that there is further opportunity to develop food sales further possibly up to a 50/50 split.
AN AMAZING OPPORTUNITY TO LIVE AND WORK WITHIN AN OUTSTANDING AFFLUENT LOCALE WITH SO MUCH ON YOUR DOOR STEP OH AND DID I ADD, MAKE AN EXCEPTIONAL LIVING AT THE SAME TIME.
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.