Excellent proven Sales of £693,889 inc vat split 30% Wet to 70% Dry returning an outstanding £354,000 GP (60%) earn yourself £1 million over life of lease.
Genuine retirement opportunity ideal for working family to make a recession proof living
Carvery Restaurant (86c), Dining Lounge, bar, snug (78+) & professional kitchens De-Lux Self contained guest accom
Inspiring curb appeal frontage (30+) rear garden (120+) & C/P (40)
Same owners 18 years ideal for families great schools
Exceptional modernised 4 Double bed owners accommodation
LOCATION (LE16 8HZ) www.thewheelandcompass.co.uk
The parish of Weston by Welland is located at the upper reaches of the Welland Valley close to the Langtons a very posh residential area to the south of Leicester 4 miles north east of the up market historic market town of Market Harborough. Originally it was part of a Roman Settlement with evidence of dwellings predating this by several centuries. Mentioned in the Domesday Book various people are claimed to have owned land around Weston inc Countess Judith, niece of William the Conqueror. The village church of St Mary the Virgin was built in Early English style and attracts visitors from far and wide. Agriculture plays an important part in the village with local old money farming families and a growing population of commuters working in nearby commercial towns and cities. Local places of interest include, Foxton Locks, Rutland Water, Uppingham with its world renowned private school, Oakham castle and Rockingham with its motor speedway. The village gives easy access to the M1, A1 and A14 enabling ease of travel from anywhere in the country. The pub is located to the heart of the Welland Valley and the village, passing down from the ancient village church and village green the pub is to be found to the right on Valley Road. Throughout the year there is plenty going on with events and galas in the nearby villages such as Medbourne, Hallaton and Ashley. The locale is ideal for walking, rambling, fishing, golfing, cycling and horse riding or just a quite time enjoying all that is good about England and its Shire Villages especially the Local Hunt in all its tradition and glory. The river Welland flows ¼ mile away but we can confirm that the property sits on a rise well above the flood plain.
PROPERTY DESCRIPTION
What the customers say I started to come here for all our family meals, my sisters are fussy eaters but they enjoy the pubs food (being vegetarians) and we always had a great time, the pub was very hospitable even though we always came in a large group. I drink here a lot with my mates as well as go for meals out. The food is priced very well for the quality and they have a big choice of meals. I especially enjoy their baguettes (theyre massive!) or coming for a late breakfast after everywhere has stopped doing full English after 12. The atmosphere is very friendly, and I like how the restaurant is separate to the bar so you can either go in for a drink or for a meal and not feel out of place. You get a mixture of families and regular drinkers. They have a nice beer garden as well (with a climbing frame and swings for the kids) Its really nice to sit out on a nice day. I love it, cant recommend this place enough.
The pub sits on ¾ acre and is most imposing by any standard with a mix of local stone and brick construction under pitched roofs set over 3 floors. To the ground floor is the trading areas inc CARVERY cum Restaurant, with part carpeting and part hard surface to the carvery apron with dark stained wooden furnishings, DINING ANNEX (40c) of a more traditional pub feel and probably the oldest part of the property, LOUNGE (20), low beams, settles and half panelled fixed seating to this area, then the POACHERS BAR (18) a popular area, very snuggy with traditional furnishings inc fixed seating. CENTRAL BAR SERVERY with a full range of REAL ALE WICKETS (mentioned within the Good Pub Guide, Good Beer Guide, Good Food Guide) with the BEER CELLAR to the rear which has a double racking system for the ales and is fully chilled and roll in. CATERING KITCHEN regularly serves on average 1300 covers per week and has a full range of up to date S/S professional equipment inc extraction, walk in fridge and freezer, and prep areas. The WASH ROOM facilities are well above standard. The business also benefits greatly from a fully integrated system linked direct to the main computer.
GUEST ACCOMMODATION
The accommodation is ideal for couples looking for an escape to the country. It comprises of a large double bedroom with en-suite, containing w.c., sink and shower. A large lounge with uninterrupted views across the Welland Valley on two sides. You will find a fully equipped kitchenette including washer/dryer, built in oven and hob, fridge freezer, dishwasher and sink. Also included are a table and chairs for dining. The lounge contains ample seating, television, dvd and music system, and is centrally heated.
OWNERS ACCOMMODATION
The period owners accommodation is well above the average and reflects the personal standards and investment by our clients in their personal comfort. This comprises of 4 double bedrooms, living room, family bathroom with corner bath & shower and breakfast kitchen.
EXTERNALS
Car parking (40+) to the front and side and also to the front a most delightful fenced patio (30+) with flower tubs and modern tubular furniture. The main outdoor garden is secure for families (120) with play equipment and timber picnic sets having outstanding views down the valley over rich farmlands with farmed animals and wild birds, foxes, rabbits, pheasants, and other game animals.
PREMISES LICENSES
We are advised that the business has a Premises licence that allows opening of 11am through 11pm Monday to Saturday (10.30pm Sunday) Actual trading hours run 12noon till 11pm Monday to Saturday then 12noon till 10.30pm Sunday. A Personal License will be required and our training associates can assist with this for you.
TENURE
We are instructed to offer the property and business as a 10 Year FREE of TIE lease with a tenants break clause meaning that after the 1st 5 year period notice can be given by the tenant without compensation or penalty. The lease will be assignable by agreement with the freeholder. Rent will be £75,000 p.a. + VAT at the prevailing rate paid monthly in advance with a review at year 5 to coincide with the break clause. There will also be Insurances rent which is presently £2,500 p.a. paid Quarterly. Tenants will only be responsible for internal repairs therefore NOT FR. Our client will reserve the right of an annual internal inspection. The lease will be contracted out of the Landlord and tenant act 1954.
SERVICES
We are advised that the pub benefits from water, Mains sewer & electric connected and cooking & heating by LPG and C/H by oil. Business rates payable of £21,078.65 p.a. (payable over 10 months).
THE BUSINESS
The business has been owned by our clients for 18 years since 1994 and they have enjoyed a smashing life style and robust income from their efforts bringing up their family within a most idyllic locale. They are now getting into retirement mode having already stepped back from the plate handing over the day to day running to their daughters. Sales are proven Y/E 31/July/2010 run to £639,889 inc vat split 60% Dry to 40% Wet. Overall GP shows 60% i.e. £354,000 for the year. After payment of a rent there will be a balance of £279,000 to pay for all other overheads which should result in a profit line to the lease operator of £75,000 to £90,000. The previous year showed a GP of £420,000 which with the same rent would have resulted in a balance of £345,000 to pay all expenses leaving a Net Disposable Profit available to the lessee of well in excess of £100,000. Over the 10 year period of the lease there is the opportunity to earn in excess of £1,000,000 (£1 million) having lived free out of the business.
A GREAT PLACE TO LIVE AND WORK ENJOYING THE BEST OF ENGLISH COUNTRY LIFE AND AN EXCEPTIONALLY REWARDING BUISNESS FOR WHAT IS A LOW INGOING AS OUR CLIENT IS MORE INTERESTED IN THE PEOPLE THAN A LARGE PREMIUM UP FRONT
Accounts information will be made available to interested parties after viewing.
Our finance associates will be pleased to advise and assist in the purchase of this outstanding business.
The Property was viewed by Graham Allman who will be delighted to discuss the opportunity with you 7 days a week on 07765 251 208.
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.