Restaurants for sale in Tyne and Wear

View the "Well-Established Pub For Sale with Restaurant in Houghton-le-Spring" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

 I am delighted with the service – I’ve sold my business and highly recommend Daltons to other business sellers 

Marianne Ross (April 2014)
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Leasehold Price: £85,000 Turnover: £312,000 Gross Profit: £187,000
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Business Description
BUSINESS
Hilton Smythe is delighted to welcome to the market this well-established and popular public house and restaurant business, set within Old Penshaw Village, Tyne & Wear.

The business was originally established in 1875 and has been in our clients careful ownership since 2011. Only now is the business being offered to the open market due to our clients other business interests. The business operates 7 days per week and generates a turnover in the region of £312,000 per annum, with a gross profit of approximately 60%.

Our clients offer a wide variety of beverages including beer, wine, spirits, soft drinks, tea, coffee and hot chocolate, as well as a varied food menu. The business has built up a fantastic reputation within the area, as well as further afield, for the high quality of the service and fayre offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

The public house currently has a 70/30 wet/dry split and the property has been finished to a high standard and is very well equipped to suit the trade, which includes a full commercial kitchen. The business boasts excellent reviews on the popular website Trip Advisor.

We feel there is scope to increase turnover by holding a modest marketing campaign, as there is currently no advertising being undertaken, especially for the function side of the business. A new owner could also launch a website to promote the business and the services offered.

This is an excellent opportunity for a new owner to take this already thriving and popular public house to the next level; therefore early viewing must come highly recommended to avoid disappointment.

LOCATION
The Grey Horse Inn occupies substantial two-storey premises, ideally located with the quaint village of Old Penshaw, Tyne & Wear.

The business occupies a prime trading position and is surrounded by mainly residential properties, from which the business derives much of its trade. The business benefits from free car parking facilities to the front and side of the property, as well as a car park to the rear. The property is located next door to the village church, from which the business attracts a lot of bookings.

The village of Old Penshaw is an area of the metropolitan City of Sunderland in Tyne & Wear. The village is well-known locally for the Penshaw Monument, a prominent landmark built in 1844 atop Penshaw Hill, which is a half scale replica of the Temple of Hephaestus in Athens.  

The village is served by the public transport system, with bus stops within easy walking distance of the property. The nearest railway station is approximately 6 miles away in Chester-le-Street. The area is also well served by the A-roads, with the A183 being within easy driving distance of the property, which links to the national A-road and motorway networks. Durham is approximately 11 miles away and Sunderland is 5½ miles away.

PREMISES
Prominent two-storey premises, in an ideal trading location, briefly comprising:

Ground floor:

Main bar area comprising:

Main bar with 11 points of dispense, optics displays, bottle refrigerators, shelving for glasses and electronic cash register.

Bar stools.

Tables and chairs.

Separate dining area to rear with approximately 46 covers.

Games area with dart board.

Ladies and gents WCs.

Access to cellar which is fully pumped and piped.

Fully fitted commercial kitchen, split into two areas.

First floor owners accommodation with:

3 x double bedrooms.

Living room.

Kitchen.

Bathroom.

Newly installed central heating.

External with:

Rear courtyard with seating and a heater.

2 x outhouses for storage/utility.

Picnic benches to front.

Well signed.

TENURE
We are advised Leasehold:

Original lease length: 10 years

Remaining lease length: 10 years

Rent: To be advised

HOURS
The business is open:  

Monday - Sunday:  12.00pm - 3.00pm and 5.00pm - Late.

STAFF
The business is owner run and managed with 8 x part time staff members.

FINANCIAL PROFILE
The business generates a turnover in the region of £312,000 per annum, with a gross profit of approximately 60%.



Tenure: Leasehold

Listed by: Hilton Smythe
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