Exceptional High standard throughout Informal split level with 45c + cosy bar area
Renowned Beautiful Inn enjoying a much favoured affluent locale close to major International tourist & Sporting “Hot Spots”
Strong tourism trade and local community support - c/p (30) patio & secluded garden
Exceptional private “gold standard” 2 double bedroomed accommodation
Fully renewable & protected Free of Tie lease of 15 years (5.3% Rent to Net Sales)
LOCATION (NN12 6LB)
This Destination Inn is located to the edge of the Roman Market Town of TOWCESTER sitting on Watling Street (A5 London Road) almost opposite the gates to Towcester Race Course. The home of the British Grand Prix Silverstone is approx. 6 miles along with National Trust Gardens, Waterway Museum & Iron Age/ Roman settlements. Currently the population of the town is circa 9500 and due to expand by 2020 to 20,000 with new build executive residential homes attracting affluent families with strong demographics, many commuting & working within the Capital London City. The locale also benefits from connections to the M1, M40 & A43. London Euston is a short 30-minute trip from Milton Keynes (20 mins) with ticket prices from £6 on 180 trains daily.
Constructed in the early 15th century of local stone under a pitched thatched roof adorned with pleasing floral hanging baskets. The property is not listed. This is a truly exceptional property of particular charm & character having been lovingly restored and designed to high professional standards. A cosy bar area to the front to the BAR SERVERY of local stone construction with a polished wood counter top having high bar stools & arm chairs to a low table leading into the main split level dining areas (40c) with low beamed ceiling and a feature inset fireplace of local stone. Furnishings are by way of medium stained dining tables with high back padded chairs set on a carpeted area WC Facilities are to the standard expected within this style of business. CATERING KITCHEN is professionally equipped.
This exceptional owner’s apartment comprises of an “executive” designed 2 double bedrooms, De-Lux fitted kitchen, lounge & exquisite bathroom built into the “A” frame of the building utilising the period features of this unique property with a further benefit of a private roof terrace.
The business benefits from a car park (30) and large grassed secluded garden suited for “al fresco” dining to the rear along with a patio to its front with picnic sets all of which are a delight during warmer periods and act as a “honey pot” for tourists & visitors to the many local historic attractions.
The business is licensed to supply alcohol 11am – 11pm all week except Sunday 12noon till 10.30pm. Actual opening hours are- Closed all day Monday then on 12 noon till 3pm & 6pm till 11pm Tuesday through Saturday with 12noon till 9pm Sunday (food 9pm Tues – Thurs with 9.30pm Fri & Sat) A Personal License will be required (our associate company can assist in this).
The business is held on a private assignable 15-year lease from 2013 Free of All Ties (A Freehouse) at a rent of £29,000 (5.53% rent to net sales). The lease has full protection under the Landlord & Tenant Act (54) therefore fully renewable at no further premium and under no less favourable conditions. Rent is paid monthly by DD with 5 yearly reviews and is not Index Linked.
Mains Electric, Water and LPG Gas are connected with Central Heating by LPG. Sewage is by way of a Septic tank, The Business is exempt of business rates.
The business has been owned by the present operators since 2013 and who wish to venture into pastures new. Average spend for 2 diners is £70 for a 3 course meal Inc. a bottle of wine. Approved Certified Accounts to 31/12/15 show sales £652,225 Inc. vat on a split of 30% Wet to 70% Dry with a GP of £342,666 (63.05%). Disposable RECON NET PROFITS of £118,850 (after personal & one off expenses including operating style i.e. employment of a chef on profit share). This business is currently operated by a single person and would expect a traditional couple to substantially add further to sales (£1m potential) & bottom line (£200,000 potential) furthermore by additional opening hours & extending the times for a food offering. The operational side of the business would support a management couple.
Full accounting information will be made available after official viewing which can be arranged though one of our Business Managers. Payback (Return on Capital) for this business is approx 18 months.
WE ADVISE DISCERNING PURCHASING CLIENTS TO SERIOUSLY CONSIDER THIS BUSINESS AND TAKE A LOOK TO APPRECIATE ITS TRUE POTENTIAL UNLOCKING THE MAGNIFICENCE OF ITS EXCEPTIONAL LOCALE.
ACCOUNTS INFORMATION WILL BE MADE AVAILABLE TO INTERESTED PARTIES AFTER VIEWING.
To secure this business a deposit of £5,000 will give you exclusivity on this business giving you a lock-out agreement with no further viewings or marketing taking place.
Our panel of financial experts are here to help; call for referrals: 01530 414140.
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.
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Sales recorded to 31/12/15 as £652,225 split 30% Wet 70% Dry £342,666GP (63.05%) RNP £147...More Details