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DECEIVINGLY SPACIOUS & VERY BUSY FREEHOLD/’FREE OF TIE’ COFFEE SHOP/RESTAURANT/LOUNGE BAR LOCATED IN THE HEART OF TEWKESBURY, A POPULAR MARKET TOWN IN GLOUCESTERSHIRE

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  • Centrally located within the historic riverside town of Tewkesbury, amongst the shops and offices.
  • Ground floor Coffee Shop & Lounge Bar (circa 80) offering an inviting bar servery and wood flooring.
  • First floor Restaurant/Bar/Function Room (circa 60) offering a bar servery, wood floors, beams and log burner fireplace.
  • Front external Seating Area and rear Car Park for 12 cars.
  • Spacious 3 bedroom Living Accommodation.
  • We are advised turnover for y/e 03/19 is £496,206 (inc vat) with a trade split of 50% wet and 50% dry.
  • Freehold or lucrative ‘Free of Tie’ Lease with an ‘Option to Purchase’ and a rent of only £35k per annum.
LOVELY HISTORIC BUILDING HOUSING A UNIQUE AND THRIVING BUSINESS WITHIN THIS POPULAR GLOUCESTERSHIRE MARKET TOWN


ASKING PRICE £399,950 FREEHOLD or £39,950 LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This thriving Freehold/’Free of Tie’ Coffee Shop, Restaurant & Lounge Bar is centrally located on Barton St, Tewkesbury, Gloucestershire.

Tewkesbury is a market town in North Gloucestershire and stands on the confluence of the River Severn and River Avon.

This historic riverside town is a popular destination with its 900 year old Abbey sitting proudly in the town along with the opportunity for some lovely walks, boat trips and visits to the museums and heritage centre.

Tewkesbury has a good range of shops and amenities and the schools are excellent in the area.

The transport links are also very good with the M5 motorway at the edge of the town and Ashchurch train station close by.

THE PROPERTY

This lovely Grade II Listed Freehold/’Free of Tie’ Coffee Shop, Restaurant & Lounge Bar is built of brick construction, under a tiled roof, occupying an excellent prominent position in the heart of this sought after market town.

The Coffee Shop & Lounge Bar (circa 80) is located on the ground floor and benefits from solid wood flooring, large bar servery area and wood panelling complimented by its rustic furnishings.

The Restaurant/Bar/Function Room (circa 60) is located on the first floor and offers solid wood flooring, bar servery, beamed ceilings and a log burning fireplace.

Ladies and Gents W.C.’s.

Located on ground & 1st floor with disabled facilities.

There is an excellent equipped Commercial Catering Kitchen with stainless steel appliances and work surfaces (appliances not tested).

There is a Lower Ground Floor Cellar with python and cooler systems. There is a lower dry store with a dumb waiter lift to the ground floor kitchen & function room. There is also an office and 2 other store rooms.

OWNERS ACCOMMODATION

The Owner’s Accommodation is located on the 1st Floor and consists of three double bedrooms, large lounge, kitchen and bathroom all being offered in good condition.

Full alarm & CCTV system installed (not tested).

EXTERNAL

To the front of the property is a seating area for 12 customers and to the rear is a further possibility to create a courtyard area.

Also, to the rear is a Car Park for 12 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:

Sun – Wednesday 10am – Midnight

Thurs – Sat 10am – 2am

Current opening hours are:

7 days per week 10am – 3pm, 6pm – 11pm

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 freehold (although we have not had sight of the title deeds) or as a new highly favourable 10 year Private FRI Lease Agreement as follows:

1. The asking premium will be £39,950.

2. The initial rent will be £35,000.

3. The annual rent is simply RPI linked to inflation every 3 years, hence no market rent reviews.

4. Rent payable monthly in advance.

5. Deposit equivalent of 3 month’s rent.

6. Lease assignable after initial 2 year period.

7. Free of all brewery and supply ties.

8. Each party responsible for own legal fees relating to the transaction.

9. We are advised that our vendor client would be agreeable to insert an ‘Option to Purchase’ clause within the lease agreement, to enable the lessee to subsequently purchase the freehold element at a price to be mutually agreed.

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 all mains services (including 3 phase power) and is heated by gas central heating. (no services seen or tested). Business rates are advised as currently being £14,400 payable.

THE BUSINESS

The current owners purchased the business in 2011 and after a refurbishment reopened with new branding and a new style which has revitalised the business. This is a thriving and busy business which has been run under management for the past few years and would benefit from longer opening hours and owner operators. The business is presented beautifully and is deceivingly spacious offering multiple uses under one roof.

We are advised turnover for y/e 03/19 is £496,206 (inc vat) with a trade split of 50% wet and 50% dry.

This business was viewed by Marc Blackford who would be delighted to discuss further details and can be contacted on 07812 753014.

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

Details Prepared: June 2019

ADDITIONAL IMAGES

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