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THRIVING & UNOPPOSED FREEHOLD INN WITH RESTAURANT, 4 EN-SUITE LETTING ROOMS, 8 CARAVAN HOOK UPS AND PP TO EXTEND LOCATED IN THE AFFLUENT LINCOLNSHIRE VILLAGE OF THORPE ON THE HILL

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  • Sitting on a substantial plot directly between the Lincoln (8 miles) and Newark on Trent (11 miles).
  • Bar (c34+ plus standing) with exposed brickwork, log burner and games facilities.
  • Restaurant (c24 covers) with portable carvery units and doors to the al fresco garden area.
  • 8 Caravan hook ups and shower facilities ; Spacious camping field with purpose built outside bar with dispense facilities able to hold a large event marquee.
  • 4 delightful en-suite letting rooms.
  • Lawn and crazy paved Al Fresco garden area (c40+) : Heated and lit smoking solution with further hard standing area (c35+) : Patrons car park.
  • PP approved in 2019 to extend considerably REF: 18/1615/FUL
  • Fully equipped commercial catering kitchen.
  • 2-bedroom owner’s accommodation with private garden and private access.
  • Advised turnover circa £348,000 (incl. VAT) Wet & Accommodation/Camping and c£150,000 (incl. VAT) Food sales (estimated – Franchised out) for year ending 30th April 2019.
  • Trade split - 52% Wet sales ; 31% Food sales ; 17% Accommodation & Camping.
A FABULOUS OPPORTUNITY TO PURCHASE THIS DELIGHTFUL AND SUBSTANTIAL FREEHOLD INN OFFERING FURTHER UNTAPPED OPPORTUNITIES


ASKING PRICE £550,000 (+VAT IF APPLICABLE) FREEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL EXCLUDING S.A.V.

Location

This delightful inn sits on a substantial plot (not measured) on the outskirts of the Lincolnshire village of Thorpe on the Hill adjacent to the railway crossing. Surrounded by other affluent villages and historical places of interest Thorpe on the Hill itself has a sought-after primary school, a nature reserve and water sports centre, golf club, fishing lake and several tennis courts. It is also a popular meeting point for walkers and ramblers who congregate at the inn in order to walk through Tunman Woods and returning for lunch. Nearby places of interest include the historic market town of Newark on Trent (11 miles) and the stunning cathedral city of Lincoln (8 miles). The nearby road networks are excellent and the A1, A46, A15, A17 and A57 are all easily accessible.

THE PROPERTY

This substantial unopposed inn is of brick construction and sits under a pitched slate roof. Entrances to the front and side provide access to all the trading areas. These consist of:

Bar (circa 34+ plus standing) is an L-shaped room with loose tables and stools complimented by scatter cushion covered upholstered perimeter bench seating sat on a carpeted floor. To one end is an exposed brick-built fireplace with built in log burner and there is a matching brick-built bar server with 3 cask ales on offer. The room also has a pool table, darts throw, juke box, AWP and 2 wall mounted HDTV’s. Leads to:

Restaurant (24 covers) is a conservatory extension to the rear of the property and has loose tables and leather dining chairs all sat on an attractive ceramic tiled floor. To one end are portable carvery units and to the side double doors open out on the al fresco garden areas. This room is multi use and although predominantly used for dining can also accommodate small meetings or parties if required.

*We are advised that Full PP was granted in 2019 for a large side extension to the trading areas. This would enable the creation of an additional 24 dining covers, a new games room and disabled WC. Planning Ref No: 18/1615/FUL

There is a fully equipped Commercial Catering Kitchen with stainless steel appliances and surfaces (appliances not tested) with wash up, prep area and fridge freezer storage areas leading off. The kitchen is currently franchised out and we are advised receives a rental income of c£10,000 per annum. There is also a ground floor beer cellar with pumps, remote and python system.

Ladies and Gents WC’s.

OWNERS ACCOMMODATION

The owner’s accommodation is located on the 1st floor and has private access and a private self-contained lawned garden area. This briefly consists of: 2 double bedrooms, lounge, Kitchen and bathroom.

LETTING ACCOMMODATION

There are 4 popular and well-presented en-suite letting rooms (2 double / 2 twin) all with tea/coffee making facilities, HDTV, toaster and a fridge.

EXTERNAL

To the side of the property is a delightful crazy paved and lawned al fresco area with wooden picnic benches (c40+) and established shrubbery borders. To the other side of the property is a hard-standing area with further wooden picnic benches (c35+), a heated and lit smoking solution, colourful planters and even a large wall mounted HDTV. To the rear of the property is a large camping field with 8 hook ups and shower facilities. There is also an outside bar with draught dispense points and the ability to hold a large marquee to host weddings or similar events all year round. The patron’s lined car park is also to the side of the property with space for c40 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 midnight

Sunday 11am to 11.30pm

Current opening hours are:

Mon - Sun 12noon to close

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 all relevant mains services are connected and the business uses an oil-fired heating system and LPG gas for cooking purposes (no services tested). Business rates payable are advised as being circa £1,580 per annum.

THE BUSINESS

The current owners purchased the freehold property in 2013 after having previously owned it between 1995 and 2006. They have since created a thriving and profitable business offering locally sourced home cooked food, comfortable accommodation and a thoroughly enjoyable camping experience. The business is currently operated by one of the owners assisted by circa 2 full time and c6-part time/casual members of staff. Sitting at the centre of the local community the business plays host to many weddings, charity events, motor bike rally’s and live entertainment. It also accommodates several darts and pool teams. We are advised that accounts to 30th April 2019 show a turnover of circa £348,000 (inc VAT) for Wet sales and Accommodation/Camping. In addition, we ‘estimate’ annual food sales to be in the region of c£150,000 (inc VAT). The catering at this property is franchised out and we are advised the business receives an annual rental income of c£10,000. The trade split equates to circa 52% Wet sales, 31% Food sales and 17% Accommodation & Camping. New owners could continue to operate the business using the same current successful formula or they may wish to take the business to the next level. In our opinion this could be achieved by taking advantage of the approved planning permission, upgrading the caravan park, marketing the letting rooms on national websites (offering packages for weddings, events, fishing clubs or similar) whilst putting their own stamp on the business.

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 October 2019

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