8322L

POPULAR AND WELL ESTABLISHED ‘FREE OF TIE’ INN AND RESTAURANT LOCATED IN THE IDYLLIC SUFFOLK VILLAGE OF HOLBROOK CLOSE TO THE HISTORICAL TOWN OF IPSWICH

8322L


  • Well-presented inn and restaurant prominently positioned on a main road and recently refurbished to a high standard.
  • Large open plan Bar and Dining Area (circa 46).
  • Separate Restaurant/Function Room (circa 36).
  • Fully equipped commercial kitchen.
  • Spacious 4 bedroom owner’s accommodation.
  • Enclosed family beer garden and patio with decked area. Patrons’ car park for 18 cars.
  • Advised turnover circa £249,375 (incl. VAT) for year ending September 2019.
  • Trade 30% wet, 70% food.
  • Desirable new 15 year ‘Free of Tie’ renewable lease.
AN EXCELLENT OPPORTUNITY TO ACQUIRE THIS THRIVING BUSINESS WITH FURTHER GROWTH POTENTIAL IN A SUPERB LOCATION


ASKING PRICE £79,500 LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This outstanding business is in an enviable location in the sought after and affluent village of Holbrook in rural Suffolk close to the Northern shore of the River Stour on the B1080 approximately 7 miles south of Ipswich. Holbrook is a popular village with a population in excess of 2500 inhabitants. There are several local amenities such as a Co-op, newsagent, hairdressers, doctors and primary school etc. Holbrook is also home to the famous Royal Hospital School which relocated to this site in 1933 after being housed at Greenwich since 1693. The historic county town of Ipswich with its array of shops, supermarkets, cafes, restaurants, leisure facilities and historic buildings is in close proximity being only approximately 7 miles away and the vibrant town of Colchester is only a 30 minute drive away.

THE PROPERTY

Well-appointed and most impressive two storey building of brick construction under a pitched tiled roof and has recently been refurbished throughout to a high standard.

Bar/Dining Area (circa 46) is of a modern style - very spacious and open plan in two sections. The upper section being fully carpeted and is furnished with leather style chairs and nautical themed tables. The lower section has karndean type flooring, feature fireplace with wood burner and is furnished with country style bench seating, wooden tables and matching wicker chairs. There is also an impressive fully equipped wooden bar servery with bottle fridges, spirit display and coffee station etc.

Restaurant/Function Room (circa 36) separate to the bar and is also of a modern style and has a welcoming atmosphere with a feature bay window, waitress station, fully carpeted and furnished with wooden tables and matching wicker chairs. It is ideal for private functions such as more intimate parties and family gatherings.

Ladies and Gents W.C.’s.

Cellar below ground level all in good order and well maintained.

Catering Facilities there is a fully equipped commercial kitchen with stainless steel surfaces, extractor system, 6 burner range cooker, rational oven, bain marie and fryers etc. (equipment not tested), separate prep area with salad bar and walk in fridge also separate washing up and storage area.

OWNERS ACCOMMODATION

Very spacious and located on the first floor and comprises of 4 double bedrooms (one en-suite), lounge, kitchenette, bathroom and office. There is potential to split into two living quarters to possibly include letting accommodation.

EXTERNAL

There is a large enclosed family garden laid to grass with picnic benches. To the front of the property there is a superb patio area which is part decked and furnished with rattan garden furniture. Patrons’ car park for 18 cars with further parking for 5 cars including 2 x disabled and also a double brick built garage.

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 10am to midnight

Sunday Noon to 10.30pm

Current opening hours are:

Mon Closed

Tues 12noon to 4pm

Wed 12noon to 9pm

Thur 12noon to 10pm

Fri/Sat 12noon to 11pm

Sunday 12noon to 9pm

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 15 year lease assignment of the Punch Taverns full repairing and insuring, renewable agreement. We are advised that the inn is free of tie. We are informed that the rent is currently £40,000 per annum to be reviewed in September 2024 (TBC). 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 mains services with LPG gas for cooking and electric for heating (no services seen or tested). Business rates payable are advised as currently being circa £8,900 per annum.

THE BUSINESS

Our vendor clients took over the business in November 2016 during which time it has been totally refurbished to a high standard throughout and now enjoys a well-established and regular trade from the local community and surrounding area. The business has a good reputation for a destination food venue offering a high level of hospitality and constantly getting 5 star reviews on Trip Advisor and also has Certificates of Excellence from Cask Mark and Bragg for real ale. This business also benefits from the many parents and visitors to the famous Royal Hospital School which has over 400 boarding students full-time and is approximately 1 mile away and the large and popular Alton Water Camp Site is only about 2 miles away. It should be noted that there is currently a new housing estate under construction close by.

Due to health reasons our vendor clients have decided to sell the business. The business is currently being run by a full-time manager, full-time chef and two part-time staff.

We are advised that accounts declare takings of circa £249,375 (inc. VAT) for year ending September 2019 however it should be noted that the only accounts that are available are in house management accounts. In our opinion, there is growth potential for new owner operators to build on this well-established business by promoting the Campsite more, extending the opening hours and by utilising the outside facilities to host local events and family days etc.

This business was viewed by Geoff Bryan who would be delighted to discuss further details and can be contacted on 07887 571720.

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

Details prepared October 2019

ADDITIONAL IMAGES

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