This centrally located Freehold or ‘Free of Tie’ Leasehold Inn is positioned on Parsons Bank, in the heart of Llanfair Caereinion.
Llanfair Caereinion is a quaint town in Powys.
The town sits on the River Banwy (Einon), around 8 miles west of Welshpool.
According to the 2011 census, the town has a population of 1,810 residents.
The town is built upon the site of an old Roman Fort.
Llanfair is most famous for being a terminus of the Welshpool and Llanfair Light Railway.
Llanfair Caereinion is in the heart of the old Montgomeryshire’s Bonwy Valley and is home to both Llanfair Carnival and Llanfair Show.
The town has a variety of amenities including shops, school etc.
This traditional freehold/’free of tie’ Inn with Restaurant is built of stone construction, under a pitched, tiled roof, occupying an excellent prominent position in the heart of this quaint town.
The Lounge Bar (circa 40) is a traditional bar area offering wood flooring, wood panelling, beamed ceilings, pool table, darts throw, TV’s and projector screen. This area is home to 3 Dominos Teams, Football Team, Darts Team and a Monthly Quiz.
The Public Bar (circa 20) is full of character benefitting from quarry tiled floors, lovely open fireplace, beams, bar servery and wood panelling.
The Restaurant (circa 30) is located to the rear of the building and offers a pleasant dining experience away from the main bar areas. The room offers carpeted flooring, wood panelling, quality furnishings and a carvery servery unit.
Ladies and Gents W.C.’s.
There is a Commercial Catering Kitchen with stainless steel appliances and work surfaces (appliances not tested).
There is a Ground Floor Cellar with python and cooler systems.
Located on the 1st Floor and briefly comprising: Two Double Bedrooms, Single Bedroom, Lounge, Kitchen-Diner and Bathroom.
To the rear of the property is a Lovely Enclosed Lawned Beer Garden offering seating for approx. 50 customers and ideal for outdoor events.
To the front of the building is a Covered Patio Area with BBQ and Log Burner (circa 30).
The business also offers a Large Car Park for 25 cars.
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 – Thursday 11am – 11pm
Fri – Sat 11am – Midnight
Current opening hours are:
Mon – Thursday Midday – 11pm
Fri – Sat Midday – Midnight
Sunday 11am – 10.30am
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.
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 £16,000.
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 months 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 LPG and all other mains services and is heated by oil central heating. (no services seen or tested). Business rates are advised as currently being £5,500 payable.
The current owner has been trading the business for 25 years and offers a solid drinking trade with a superb opportunity to introduce further catering options.
This offers new operators the chance to put their own stamp on the food and continue to benefit from the excellent wet trade.
We are advised turnover for y/e 03/19 is £243,239 (inc VAT) with a trade split of 95% wet and 5% dry with a recon net profit of £45,000 (£29,000 after paying the rent on the lease option).
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: Oct 2019