Business Summary
PROPERTY DESCRIPTION:-
The property dates back to 1640, completely detached and of local brick construction. A blend of history & opportunity which has been developed by our clients over the last 12 years of his ownership in conjunction with Whitbread Pub Partnerships transforming the property into one of the most successful and well balanced pub businesses in the county. Focused around a CENTRAL BAR SERVERY with REAL ALE WICKETS and Bright beer pumps providing an exceptional merchandising platform for wet driven sales the trading areas provide a warm “country tavern style†atmosphere within the BAR AREA – LOUNGE – DINING ROOM (100 + vertical drinkers). The pub is furnished with an assortment of rustic furniture, pews, deep leather chairs and low casual settees providing comfortable relaxed surrounds for most user occasions. Plenty of interesting artefacts, exposed brickworks, low beams and double facing log fire add to the interest and ambiance of the pub. TOILETS are to a high specification. BEER CELLAR is set deep beneath the pub and fully chilled. CATERING KITCHEN is professionally equipped and maintained with full stainless steel benching, extraction with input and walk in refrigeration.
EXTERNALS:-
Set to the side of the property and used as the main entrance there is a patio with a spring water well and picnic benches. To the rear and far side lies “the jewel in the crown†with garden areas, unique pergola water feature, picnic sets, grassed play area all with access directly into the main pub and toilets. Our client regularly uses the space for weddings and parties within a 80 cover marquee. A hard surfaced car park holds around 40 vehicles and suitable for coaches
PREMISES LICENSES:-
Actual opening hours run at 12 noon until 11pm with food served traditional lunch & evening session. Premises license allows for trading 10.30am until 11.30pm. 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 for sale as a leasehold assignment of an exceptional user friendly 20 year lease commencing 2000 from Whitbread Pub Partnerships (now Enterprise Inns), fully protected under the Landlord & Tenant Act and renewable for no further cost for a further 20 years “anon†at no less favourable terms. The business is FREE OF TIE for GUEST ALE-CIDER-WINES-SPIRITS & MINERALS along with 100% retention of net machine income. Current rent is an “easy†£41,000 (8.7% rent to net sales) set without index linking. The favourable terms and conditions of this lease cannot be altered without the permissions of the lessees and why would you want to do that ?
SERVICES:-
We are advised that the pub benefits from mains electric, water, sewage, with heating by Gas. Business rates payable are £14,000
THE BUSINESS:-
Our client has operated the business for a period of 12 years and developed the trade into a robust successful and well balanced licensed business. T/O from account (Dec 2010 and expect 2011 to be similar) run to a £561,583 inc vat pa on a split of 67% Wet ( please bare in mind the FOT condition) to 33% Dry sales with declared gross profits of £231,673 (A new owner could expect to build upon this exceptional trading foundation with a sales opportunity above £ ¾ million well within reach) Our client is placing the business on the market due to the arrival of “family†and wishes to spend more time with them. He has ran the business without his partner and believes that a couple taking it over the projections could be achieved. Personal reasons have affected his capability to trade the business however we can indicate that its history has shown sales of circa £700,000. This is a business capable of returning high profits of above £1,000 per week having paid rent and all business expenses having lived out of the business.
Property Details
Other Business Details
Business Location:
The township of COTGRAVE (still called and retains its pleasant village atmosphere) strategically lies to the South East of the City of Nottingham in the triangle of the busy A46 – A606 – A52 routes across the county with the prestigious villages of RUDDINGTON-PLUMTREE-TOLLERTON-CROPWELL BUTLER – COLTON BASSETT & The VALE of BELVOIR within its catchment and has a residential population of close to 20,000 people. The area has received significant attention and investment over the decade and boasts a country park run as a partnership by Notts CC and The Forestry commission with 60 hectares of new parklands , ponds, wetland, horse gallops & bridleways along with a further 60 hectares given over to agriculture. This has attracted residents moving to the location from Nottingham City, Derby and Leicester due to the massive infrastructure investment along with excellent communications by way of road ways, Nottingham EM Airport and main line connections to the CAPITAL CITY of LONDON from both Nottingham, Newark & Grantham. The options are practically limitless !!
Living Accommodation?
Yes
Located to the first floor and comprises of two double bedrooms with a further bedroom being used as an office, large lounge/dining room, kitchen and family bathroom. Access to the living space is from a secure door to the front of the building and accessed without entering the public area.
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