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SUBSTANTIAL FREEHOLD WATERSIDE INN FOR SALE WITH APPROVED PP SITTING ON A LARGE PLOT ON THE OUTSKIRTS OF THE BUSTLING LINCOLNSHIRE TOWN AND SMALL PORT OF BOSTON

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  • Sat overlooking the Maud Foster Waterway on the northern outskirts of the town on a good-sized substantial plot.
  • Bar (c15+ plus standing) with exposed wooden beams and games facilities.
  • Lounge (c22+ plus standing) with exposed wooden ceiling beams, ornate fireplace and open fire.
  • Restaurant (44 covers) a room with multiple uses.
  • Grassed garden area : Patio area ; Large car park.
  • Ground floor commercial catering kitchen.
  • 3-bedroom owners’ accommodation & roof garden.
  • Advised annual turnover c£80,000 (NO VAT) achieved on 60% Food sales, 40% Wet sales and on limited opening hours (Lifestyle choice).
  • PP granted for property extension/outbuilding conversion to create 11 letting chalets (B/04/0751/CD1)
  • Positive Pre-planning to also convert to 3 x 3-bed houses : Suitable for Alternative use – STPP.
  • A genuine retirement sale.
A FANTASTIC OPPORTUNITY TO PURCHASE A SUBSTANTIAL FREEHOLD INN OFFERING MANY UNTAPPED OPPORTUNITIES AND AVAILABLE FOR THE 1st TIME IN 29 YEARS


ASKING PRICE £325,000 FREEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This substantial inn is located on the outskirts of the popular Lincolnshire East Coast town and small port of Boston with delightful all-round views including the Maud Foster Waterway to the front. With a population of 35,000+ and heavy agricultural links Boston is also a popular destination for the many visitors and tourists that frequent the East Coast all year round. Nearby points of interest include the famous towns of Spalding (famous for its floral displays) 16 miles and Horncastle (famous for its antiques) 19 miles. The thriving market town of Sleaford is only 18 miles away. The nearby road networks are very good and the A52, A16 and A17 all provide access throughout this beautiful county.

THE PROPERTY

The property sits on a large plot and is of brick construction sitting under a pitched tiled roof. Entrance porches to the front and side provide access to the corridor linked trading areas. These consist of:

Bar Area (circa 15+ plus standing) has loose tables and assorted chairs sitting on a carpeted floor beneath exposed wooden beams to the ceiling. There is a wooden bar server with altro trim and 2 cask ales on offer. The room also has a darts throw, wall mounted HDTV, giant Jenga, eye-catching décor in the form of historical photos and several street signs. Corridor leads to:

Lounge area (c22+ covers plus standing) has loose tables and stools all sitting on a fully carpeted floor and complimented by upholstered perimeter bench seating. Exposed wooden ceiling beams look down on an attractive ornate fireplace with open coal fire to the side and there is a wooden bar server with altro trim and 3 cask ales on offer. Leads directly through to:

Restaurant (c44 covers) has loose tables, leather upholstered dining chairs and upholstered perimeter bench seating. The room is multi-use and can be laid out as required and to suit the occasion. There is a central altro dance floor with carpet border and wooden beams to the ceiling. An exposed stone and brick-built fireplace sits opposite double doors that lead out onto a hard-standing patio area.

There is a well-equipped commercial catering kitchen with some stainless-steel appliances and surfaces (equipment not tested). A pot wash and pantry area lead off.

Below Ground floor beer cellar with remote, python and pumps etc.

Ladies & Gents WC’s

OWNERS ACCOMMODATION

The owner’s accommodation is located on the 1st floor and briefly consists of: 3 bedrooms (2double/1 single), lounge, kitchen and bathroom with separate WC. There is also a delightful roof garden with lovely countryside views.

EXTERNAL

To the side of the property are several brick-built outbuildings that are included within the approved planning permission. This permission allows conversion to 11 letting chalets (Ref No: B/04/0751/CD1) with the other part of the approval to extend the kitchen and bar areas of the main building (footings already in place). To the other side of the property is a hard-standing crazy paved patio area with a raised ornamental pond. To the rear of the property is a large grassed and enclosed beer garden area and there are 2 small decked areas to the front and side. The patron’s car park and overflow is to the front and both sides of the property and provides space for c60+ cars.

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 - Sat 11am to 2am

Sun 12noon to 11pm

Current opening hours are:

Mon Closed

Tues - Thurs 5pm to 8.30pm

Fri - Sat 5pm to midnight

Sunday 5pm to 11pm

(Also open to cater for funerals & events when requested)

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 property and business is being offered for sale freehold (although we have not had sight of the title deeds). We are advised that the property benefits from Electric and water supplies (No gas) and that the relevant services are connected (no services tested). Business rates payable are advised as currently being £NIL per annum.

THE BUSINESS

The current owner purchased the freehold of the property in 1990 and over the years ran a successful business supported by a loyal, repeat and desirable clientele. After over 29 years running this particular establishment our vendor client is now looking to retire in order to be able to take life at a more leisurely pace. The business is currently run by the owner assisted by 2 part time/casual members of staff. Currently run as a lifestyle choice the present offer is for the provision of food and events (mainly funerals from the nearby church) however in our opinion this property offers many untapped opportunities. We are advised that the business currently turns over circa £80,000 (NO VAT) per annum achieved on a trade split of 60% Food sales and 40% Wet sales on reduced/limited trading hours. Historically we are advised that the business turned over NET sales of c£180k per annum. In our opinion this property is ready and waiting for something to happen. This could be a refurbishment to re-launch the business as a public house whilst exploring the already granted PP and creating a letting offer as well or, exploring the positive pre-planning permission to convert to 3 x 3-bed houses. In our opinion the extensive frontage also has tremendous scope to convert, extend and/or redevelopment (STPP). Accounting information will be made available to interested parties after viewing. The property was viewed by Richard Fletcher who would be delighted to discuss further details and can be contacted on 07527 718400.

Viewing appointments must be made via Guy Simmonds on 01332 865112.

Details prepared June 2019

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