8186L

WELL ESTABLISHED AND HIGHLY SUCCESSFUL FREE OF TIE INN AND RESTAURANT WITH LETTING ACCOMMODATION AND MOORINGS FOR SALE IN A TRULY ENVIABLE RIVERSIDE LOCATION NEAR ELY, CAMBRIDGESHIRE

8186L


  • Superb riverside location with private moorings.
  • Welcoming and characterful Lounge Bar (circa 36).
  • Separate Restaurant/Function Room (circa 70) overlooking the river with excellent views.
  • Fully equipped Commercial Kitchen.
  • 3 high quality Letting Bedrooms all en-suite
  • 1 Bedroom Owner’s Accommodation.
  • Large riverside family Garden with Children’s Play Area.
  • 5 private moorings.
  • Large Patron’s Car Park (80-90 cars) including overflow.
  • Advised current turnover circa £482,656 (inc VAT) for y/e November 2018
  • Trade split 30% wet, 40% food, 30% accommodation.
  • Free of Tie renewable lease (11 years remaining).
A RARE OPPORTUNITY TO ACQUIRE THIS POPULAR AND THRIVING BUSINESS IN A HIGHLY DESIRABLE RIVERSIDE LOCATION OFFERING FURTHER GROWTH POTENTIAL WITH AN ENVIABLE LIFESTYLE


ASKING PRICE £75,000 FREE OF TIE LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This well presented and long established inn and restaurant, is in a truly excellent riverside location just off the A10, 2 miles south of the rural Cambridgeshire village of Stretham on the banks of the River Great Ouse. The village of Stretham offers local amenities such as a shop and post office, church, primary school and garage and has a local bus service to both Ely and Cambridge. There are also a number of listed businesses including the Old Pump and Engine. The cathedral city of Ely with its many shops, cafes and historical buildings, famous for its cathedral and hugely popular with tourists is only 5 miles away and the large University City of Cambridge is in close proximity being only 11 miles away.

THE PROPERTY

Is an impressive and eye catching building of brick construction under a pitched tiled roof and has been well maintained to a high standard throughout.

Lounge Bar (Circa 36) has a traditional welcoming atmosphere with wooden floor, wood panelling, two feature fireplaces with open fire, fully equipped wooden bar servery, 3 bottle fridges, back bar display section and a full range of optics etc, stylishly furnished with leather tub chairs and sofas and matching tables and chairs. There is also a dessert display cabinet, coffee station and ice cream freezer.

Restaurant/Function Room (Circa 70) is open plan and has truly amazing views overlooking the river. Carpeted throughout with a wooden dance floor section, air conditioning, wood panelling,and also stylishly furnished with matching tables and chairs. Being separate from the Lounge Bar and leading on to the river bank garden it is an ideal private function venue.

Ladies, Gents and Disabled W/C all in good decorative order.

Cellar located on the ground floor is in good order and well maintained.

Catering Facilities

There is a fully equipped Commercial Kitchen with stainless steel surfaces, extractor system, rational cooking centre, bain marie, cooker and deep fat fryers etc. Also washing up station and prep area. (No appliances tested).

OWNERS ACCOMMODATION

Also located on the first floor comprises one double en-suite bedroom and a lounge.

LETTING ACCOMMODATION

is situated on the first floor and has separate access through the entrance lobby and comprises of two double and one single en-suite bedrooms which have been maintained to a high standard.

EXTERNAL

There is a most impressive riverside garden laid to grass with picnic benches and excellent views over the river, enclosed children’s play area, paved patio area and a decked area with rattan chairs and matching steel table. There are also 5 private moorings and a large patrons’ car park for 80-90 cars including the overflow area.

TRADING HOURS

We are advised that the business trades with the benefit of the Premises Licence (not seen) which permits the sale of alcohol during the hours of:

Mon- Thu 11.00am to midnight

Fri/Sat 11.00am to 02.00am

Sun 11.00am to 11.00pm

Current opening hours are:

Mon-Sun 11.00am to 11.00pm

(open for breakfast) –

Mon-Fri 8.00am

Sat/Sun 9.00am

NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the APLH Qualification in readiness for their intended operation of the Public House.

GENERAL REMARKS

The business is offered for sale as a lease assignment with approximately 11 years remaining of the private full repairing and insuring renewable agreement. We are advised that the Inn is free of tie. We are informed that the rent is currently £48,000 per annum to be reviewed November 2021. We are advised that at the end of the term, the Lease (not seen by Guy Simmonds) should be renewable with no further premium – subject to the provision of the Landlord & Tenant Act 1954.

We are advised that the inn benefits from mains services with flow gas for cooking and heating and connected to a bio tank (no services seen or tested). Business rates payable are advised as currently £16,000 per annum.

THE BUSINESS

Our vendor client took over the business in November 2009 during which time has built up a highly successful and thriving trade not only from the nearby local community and surrounding areas but also from the many visitors and tourists to the area all year round and now enjoy a good regular wet trade and a well established reputation for quality home cooked food. The letting accommodation has become very popular with tourists and also with the many business travellers to the area seeking high standard accommodation at a reasonable price. Due to its superb riverside location it is extremely popular with the boating fraternity and holiday makers, especially during the Summer months. With the added benefit of the versatile facilities it is very popular as a private function venue for wedding receptions and parties and is regularly used by several clubs and associations such as the DeLorean Car Club and Volkswagen Owner’s Club.

The current vendor also enjoys the benefits of hosting events such as festivals and family days which are very successful. The business is currently being run by the owner full-time, 2 part-time waitresses, 1 full-time kitchen assistant, part-time assistant manager and 6 part-time casual staff. Our vendor client has now decided that it is time to move and wishes to sell the business.

We are advised that current takings are circa £482,656 (inc. VAT) for year ending November 2018. There is real growth potential for new owner operators to build on this already successful business by continuing with the well established format and by promoting the excellent facilities (especially outside) for more private hire including the letting rooms and by increasing the number of events and festivals.

Accounting information will be made available to interested parties after viewing.

This business was viewed by Geoff Bryan who would be delighted to discuss further details and can be contacted on 07887 571720.

Viewing appointments must be made by contacting Guy Simmonds on 01332 865112.

Details prepared: December 2018

ADDITIONAL IMAGES

8186L

8186L

8186L

8186L

8186L

8186L

8186L

8186L

8186L