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HIGHLY DESIRABLE ‘FREE OF TIE’ INN WITH 60 COVER RESTAURANT LOCATED OVERLOOKING THE MAIN SQUARE IN THE HEART OF THE QUAINT OLD EAST NORTHANTS MARKET TOWN OF HIGHAM FERRERS

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  • Located just off the main square in the quaint old Northants market town of Higham Ferrers that sits between Bedford and Kettering close to Rushden and Stanwick lakes.
  • Gin Bar (c20+ plus standing) with wood panelled walls, comfy seating and a vast selection of gins.
  • Sports Lounge (c60+ plus standing) with wall mounted HDTV’s and Sky Sports, eye catching exposed brick wall covering and doors to the ‘new’ rear al fresco patio area.
  • Restaurant (60 covers) Currently unused.
  • Private Dining/Meeting/Multi-use Room (c20 covers).
  • Fully equipped commercial catering kitchen – Currently unused.
  • 3 double bedroom owners’ accommodation.
  • Newly developed and highly attractive rear al fresco patio area with wooden picnic benches to follow (c50+).
  • 100% Wet sales only.
  • Totally Privately owned ‘Free of Tie’ renewable lease with an attractive rent (Only 7.7% Net T/o).
A FANTASTIC OPPORTUNITY TO ACQUIRE A ‘FREE OF TIE’ BUSINESS OFFERING MANY UNTAPPED OPPORTUNITIES


ASKING PRICE £99,950 LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This highly desirable inn is located just off the main square in the quaint old East Northants market town of Higham Ferrers close to the Bedfordshire and Cambridgeshire borders. Higham Ferrers is a lovely floral town with 4 schools, local shops, amenities and facilities and holds a highly popular farmers market every month. The town is still expanding and further housing developments are currently being built in the area. Nearby points of interest include the popular Rushden and Stanwick Lakes, Irchester Country Park and Rockingham Forest. Kettering, Northampton and Bedford are also within easy reach. The local road networks are excellent with the nearby A14, A6 and A1 complimented by many other ‘A’ roads providing access around this simply stunning county.

THE PROPERTY

This popular and modern style 3 storey inn has plenty of history and in times gone by was used as quarters for American officers in WWII and also as a high school for girls. The property is of stone construction and sits under a pitched slate and flat roof. An entrance porch to the front provides access to all the trading areas. These consist of:

Gin Bar (c20+ plus standing) is a delightful room with a warm and welcoming atmosphere. Loose tables, stools, leather armchairs and settees are complimented by high poseur tables and stools all sitting on attractive Karndean and mosaic tiled floor. Wood panelled walls and a central hanging chandelier add to the character and charm and there is also a wall mounted HDTV. A wooden bar server with 3 cask ales on offer sits to the side. Corridor linked to:

Sports Lounge (c60+ plus standing) is to the rear of the property and has an exciting and modern feel. Loose tables, high and low stools and poseurs are complimented by leather upholstered perimeter bench seating. The room has areas of carpet and Karndean floor and to one end is a wood panelled bar server with 2 cask ales on offer. There are 3 large wall-mounted HDTV’s all showing major Sky Sports events and a characterful exposed brick style wall cover adds to the feel of the room. Double doors lead out onto the newly formed spacious rear al fresco patio area.

Ladies, Gents & disabled W.C.’s / CCTV.

Private Dining/Meeting/Multi-use Room (c20 covers) is located on the 1st floor with loose tables and leather upholstered dining chairs all sitting on a fully carpeted floor and able to be laid out as required and to suit the occasion. ,

Restaurant (c60 covers) is also to the 1st floor with a disabled lift making this and the private dining/meeting room fully accessible. Loose tables and chairs are complimented by upholstered perimeter bench seating and all sit on a quality oak style laminate floor. There is a bar server of wooden construction with flash cooler dispense points and Ladies & Gents WC’s. The restaurant area is currently unused and in our opinion provides an excellent opportunity for new owners to re-introduce a quality food offer to the business.

There is a fully equipped Commercial Catering Kitchen with stainless steel appliances and surfaces (appliances not tested) and wash up area leading off. The kitchen is currently unused and provides immense opportunity to be re-instated to the business not only for the restaurant but for the use of private dining also. Below ground floor cellar with python, remote etc and additional storage areas.

OWNERS ACCOMMODATION

The owner’s accommodation has attractive high ceilings throughout and is located on the 2nd floor. This briefly comprises of: 3 double bedrooms, lounge, kitchen and a good-sized bathroom.

EXTERNAL

To the rear of the property is a newly created self-contained blocked paved and flagstone patio area (c50+) with wooden picnic benches. To the side of the property are c10 parking spaces able to be used by patrons during certain hours however free on street parking is readily available to the front and throughout the town.

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 - Thurs 10am to 11pm

Fri / Sat 10am to 1am

Current opening hours are:-

Mon - Closed

Tues - Thurs 12noon/3pm, 5pm/close

Fri/Sat 11.30am to midnight

Sunday 11.30am to 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 lease assignment with approximately 12½ years remaining of the privately-owned full repairing and insuring, renewable agreement. We are advised that the inn is totally ‘free of tie’ on all products and that the highly attractive rent is currently £30,000 per annum (only 7.7% net turnover). This is due to increase to £40,000 per annum in 2021. We are advised that at the end of the term, the current 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 (no services seen or tested) and that business rates payable are advised as currently being circa £5,000 per annum.

THE BUSINESS

The current owners took over the leasehold business in February 2017 and have since created a popular and thriving venue offering quality food (previously) drinks and ales to a loyal, repeat and desirable clientele. Our vendor clients are now looking to sell the business on in order to be able to concentrate on their other business interests. The business is currently operated by one of the owners assisted by 1 full time and circa 6-part time/casual members of staff. Sitting at the heart of the local community the business offers weekly live entertainment, Sky Sports events and plays host to parties, meetings and wakes etc. It also sponsors its own football team and is a popular venue for several local clubs and societies to meet here on a regular basis. New owners could continue to run the business using the same formula or may wish to take the business to the next level. In our opinion this could achieved by taking advantage of extending the opening hours, re-launching a quality food offer in the restaurant and private dining room, promoting the new al fresco patio area and even the introduction of a regular quiz night.

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

This business 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 by contacting Guy Simmonds on 01332-865112.

Details prepared August 2019

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