VERSATILE, POPULAR FREEHOUSE CURRENTLY RUN AS A BAR/GRILL WITHIN THE CONSISTENTLY TOURIST FILLED LAKE DISTRICT TOWN OF KESWICK ON THE BANKS OF DERWENT WATER.
- Sales on target circa £423,614 split 70% Wet 30% Dry 64.25% GP £118,000 Recon Net Profit
- Barrelage of 240 over previous ten month period from market leading supplier who, recognising the increased potential has offered a preferential investment loan.
- High standard throughout Patio, Lounge bar and foyer (50+) Restaurant (50+)
- Exceedingly popular venue throughout the year, “Honey Pot” venue.
- Strong tourism trade combined with vibrant local community support
- Fully renewable & protected FREE OF TIE 33 year lease–hugely supportive landlord.
LOCATION (CA12 5HH)
Station Street runs through the beautiful Lake District tourist town of Keswick, once over the River Greta head towards the Alhambra Cinema, Derwent Water or Hope Park and you can’t fail to pass by Sienna’s.
Situated prominently amongst popular retail outlets conveniently adjacent to one of Keswick’s municipal car parks. Double fronted, with paved patio to the entrance and Castellated roofline Sienna’s is one not to be ignored.
THIS BUSINESS NEEDS TO BE VIEWED TO FULLY APPRECIATE WHAT IS ON OFFER.
Pastel coloured render decorating a brick/stone construction with distinctive kerbside appeal ,it is emblematic of your “Bar/Grill”. Enter by the front entrance and at once be impressed by the style and quality of the surrounds. Wooden laminate floors throughout.
Through the central entrance door, we find a welcoming ground floor area which currently lends itself very well to the café culture offering during the day (18c), blending into a vibrant sports bar with large wooden topped bar supporting “Highline” beer heads and optic based back bar with refrigeration. 3 large screen TV’s and high seating stools at the bar (10c), opposite is a mezzanine level hosting Pool Table and Darts area and further seating and tables (12c) this area supports traditional bar pursuits and televised sports events.
Continuing towards the rear of the ground floor with staircase leading to the Ladies and Gentleman’s toilets and locked access to the beer cellar.
Carpeted stairs lead from this area to the upstairs restaurant dining environment.
Configured in a U shape the carpeted (50c) restaurant/dining environment is enhanced by the use of blended colours of the furniture and polished table surfaces. It is bisected on one side by four steps leading to staff toilet/shower facilities, dry goods store and CATERING KITCHEN is fully equipped with Stainless Steel units and a fully fitted extraction system.
There is no owners/management accommodation therefore a lock up..
The business benefits from the patio entrance which has seating (12c) and tables for the finer weather or for those who enjoy a drink with their faithful companion. There is an external smoking area.
The business is licensed to trade 10am through until 12:30 during the week and 10am till 01:30 Friday, Saturday and Sunday. Actual opening hours are seasonally in line with this with slight variations according to peak and low trading periods. A Personal License will be required (our associate company can assist in this).
The business is held on an assignable “favoured” Private lease of 33 years from 2004 and has LANDLORD & TENANT ACT PROTECTION therefore FULLY RENEWABLE at no further premium and under no less favourable terms at its end – subject to L&T Act (54) conditions. Rent reviews are held every 7 years. The business is COMPLETELY FREE OF ALL PRODUCT TIES (A freehouse) Rent is £31,000 +vat (reclaimable) by monthly payments. The lease is FRI.
Mains Sewage, Electric, Water and Gas are connected with Central Heating by Gas. Business rates payable are £13,800pa.
We are advised that sales are based on the latest HMCR returns May 2015, to £423,614 inc vat split 70% Wet to 30% Dry.
Gross Profits from the P & L y/e 05/15 show £226,813 - 64.25%. The current owner is located within the business for three days per week, relying on a manager and chefs the remaining times. With further focus on building the business and structure of running the pub, restaurant and café sales with an incumbent owner this business could reach even greater sales and subsequent profits providing a return on capital (ROC) in a little over a year with an enhanced RNP . Current Recon Net Profits run to circa £118,000 ( after adding back one off expenses such as extra wages due to the current operator running the business at arms length (Chef £24k Manager £22k), finance, depreciation etc) with a hands on couple the wages will adjust and extra sales resulting in enhanced RNP this business could achieve a RNP above £150,000. A supplier loan of £30,000 could be made available Subject to Status at .5% over 10 years for further development of the business.
WE ADVISE DISCERNING PURCHASING CLIENTS TO SERIOUSLY CONSIDER THIS BUSINESS AND TAKE A LOOK TO APPRECIATE ITS TRUE POTENTIAL AND MAGNIFICENCE OF ITS EXCEPTIONAL LOCALE
ACCOUNTS INFORMATION WILL BE MADE AVAILABLE TO INTERESTED PARTIES AFTER VIEWING.
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 251208.
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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