Within a few minutes walk of newly developed luxury waterfront properties
Advised annual turnover of £98,244 with good gross profit margins
High amount of repeat and passing trade
Situated in the bustling city of Plymouth
Early viewing highly recommended
Licenced to operate till 2:00am
Scope for further development
Genuine reason for sale
Meridian Business Sales are delighted to offer to the market this popular public house which has been established since the 1850’s and in the careful hands of our client since 2008. Our clients are reluctantly offering the business to the market due to a desire to move abroad.
Since our client(s) took ownership of the business they have invested time and money in the business and premises to the point where it is in full walk in condition.
Our client has continually developed and improved the business, introducing new lines and income streams which has enhanced the business massively and in particular shows in the year on year increase in turnover and profitability.
Our clients inform us that the annual turnover currently runs at £126,598 with a gross profit of £38,737 with is derived from the sale of a selection of beers, wines and spirits in addition to a hot and cold food menu which has recently been introduced meaning that there is huge scope for growth in this part.
The business enjoys a strong reputation within the local community and as such has a high level of regular and repeat trade.
There are currently two new major developments undergoing construction in the area, due for completion by July 2017, which will benefit the business massively.
This is a superb opportunity to purchase an established business, which is a great base to build upon and as such early viewing is highly recommended as businesses of this calibre rarely stay on the market for long.
This superb public house is located on a corner position in a densely populated residential area of Plymouth, less than a minute from one of the main through roads in the city. The naval town of Plymouth lies between the River Plym to the east and the River Tamar to the west, both rivers flow into the natural harbour of Plymouth Sound. It is well known as the gateway to Cornwall and is just off the main A38, being just 45 minutes from the M5 motorway. Plymouth has it’s own airport with both internal and foreign flights. The main train station offers easy access to the entire country with London being reached in approx 3 hours. Plymouth has the advantage of being on the coast having it’s own harbours and quays such as the historic Barbican and Hoe, and the golden sandy beaches of Devon and Cornwall being within easy reach. North of the city lies Dartmoor with it’s rugged beauty and breathtaking landscapes.
Leasehold Original length: 23 years Remaining: 21 years Review: 5 years Rent: £25,000pa Business rate: £0.00
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