8300F

• Prominent corner position in the heart of this popular tourist town in Powys.
• Bar, Dining Area & Coffee Shop (circa 30) offering bar servery, solid wood floors and modern décor.
• Restaurant (circa 20) benefits from solid wood floors, modern furnishings and chic décor.
• Spacious Patio Terrace Area (circa 40).
• Commercial Catering Kitchen.
• 8 En-Suite Letting Bedrooms (need completing).
• 3 Bed Living Accommodation (needs completing).
• We are advised turnover for y/e 06/19 is circa £288,000 (inc VAT) with a trade split of 30% wet and 70% dry.
• Freehold or Lucrative ‘Free of Tie’ Lease with an option to purchase.

Location

This delightful stone built Freehold or ‘Free of Tie’ Leasehold Restaurant, Bar and Coffee Shop with potential for 8 Letting Bedrooms is centrally positioned on Temple Chambers within the sought after tourist town of Llandrindod Wells, Powys.

Llandrindod Wells was one of the original Spa Towns in the UK and is still well known for its healthy living and friendly atmosphere. The area is renowned for its walking and cycling trails and offers other local attractions such as water sports on Llandrindod Lake, Leisure Park, Golf Course and a variety of Museums.

The town has a good range of local and national shops, amenities and good schooling.

THE PROPERTY

This Recently Refurbished Freehold/’Free of Tie’ Restaurant, Bar & Coffee Shop is built of stone construction, under a tiled roof, occupying an excellent prominent corner position in the heart of this desirable town.

The Dining Area/Bar/Coffee Shop (circa 30) is a lovely light and airy room that offers modern décor, solid wood flooring and a bar servery area.

The Restaurant (circa 20) is in keeping with the other trading area and benefits from solid wood floors and modern furnishings.

This unique business has a lovely feel and is a multi-purpose business with customers having a choice of dining, coffees or just a drink and a chat.

Ladies and Gents W.C.’s + disabled facilities.

There is a 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 Ground Floor Bottle & Dry Store.

OWNERS ACCOMMODATION

Located on the 3rd Floor and briefly comprises of: Four Large Rooms that when finished will comprise of 3 Double Bedrooms (potential for all to be en-suite) and Large Lounge (potential for kitchenette). This area needs work…..our vendor is flexible with a lessee.

LETTING ACCOMMODATION

On the 1st & 2nd Floors are 8 Large Rooms ideal for En-Suite Letting Bedrooms. The current owner has started these but are not complete and is open to negotiation with a lessee.

EXTERNAL

To the front of the property is a Lovely Patio Terrace Area offering seating for approx. 40 customers.

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:

7 days per week 11am - Midnight

Current opening hours are:

Mon Closed

Tues – Thursday Midday – 2.30pm, 5pm – 9.30pm

Fri – Sat Midday – 10pm

Sunday 3pm – 7pm

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 £19,950.

2. The initial rent will be £27,500.

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 and is heated by gas central heating. (no services seen or tested). Business rates are advised as currently being £3,600 payable.

THE BUSINESS

The current owners purchased the property in July 2017 and after a full ground floor refurbishment and a complete rebranding the business has continued to grow and is a popular addition to the town.

Our vendors have other business commitments and cannot offer the business the time it desires offering new owner operators the opportunity to continue to grow the business. Our vendors are extremely flexible in regards to the options offered and are happy to lease or sell the freehold outright.

We are advised turnover for y/e 06/19 is £288,000 (inc VAT) with a trade split of 30% wet and 70% dry.

Viewing appointments must be made by contacting Guy Simmonds at sales@guysimmonds.co.uk.

Details Prepared: August 2019