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DESIRABLE FREEHOLD RIVERSIDE HOTEL WITH 9 EN-SUITE LETTING ROOMS, 46 COVER RESTAURANT AND BAR FOR SALE LOCATED IN THE QUAINT LINCOLNSHIRE VILLAGE OF SURFLEET NEAR SPALDING

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  • A substantial riverside hotel set in the South Holland Lincolnshire village of Surfleet close to the main A16 and only 5 miles from the colourful, populous and bustling market town of Spalding.
  • Bar Area (c30+ plus standing) recently refurbished with comfy furniture, a roaring log burner set in a feature brick-built fireplace and 2 cask ales on offer.
  • Restaurant (46+ covers) with delightful riverside views, mobile carvery unit and air conditioning.
  • 9 En-suite Letting Rooms with approved PP in place to create an additional room: REF: H17-0071-18.
  • Fully equipped Commercial Catering Kitchen.
  • Spacious and attractive riverside Al Fresco Garden Area (c75+) with spacious decking, delightful surrounding scenery, wooden picnic benches and 3 river moorings ; Patron’s Car Park ; Smoking solution.
  • Owners Accommodation.
  • Advised turnover circa £315,600 (incl. VAT) for year ending 30th September 2019 achieved on 45% Food sales ; 30% Accommodation sales ; 25% Wet sales – Excellent reconstituted net profits.
A RARE OPPORTUNITY TO PURCHASE THIS DELIGHTFUL FREEHOLD HOTEL AVAILABLE FOR THE FIRST TIME IN OVER 14 YEARS


ASKING PRICE £485,000 FREEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL EXCLUDING S.A.V.

Location

This substantial property sits on a good-sized plot on the main road running through the quaint South Holland village of Surfleet in Lincolnshire. The village has a church and village hall, Post Office, Primary School and golf course and is surrounded by other lovely Lincolnshire villages and delightful rolling countryside. It is also a local haunt for the many fishermen that use the adjacent river all year round. Nearby points of interest include the populous bustling and colourful market town of Spalding which is less than 5 miles away. Spalding is renowned for its acres of sky and glorious sunsets and with excellent schools, an array of shops and the popular and quirky Water Taxi, it comes as no surprise that the town and its surrounding areas has been listed by The Times as one of the best places in the country to live. The nearby road networks are excellent and the A15, A16 & A17 are all close by.

THE PROPERTY

This substantial riverside hotel is of brick construction and sits under a pitched slate roof. An entrance porch to the front of the property provides access to all the trading areas. These consist of:

Bar Area (circa 30+ plus standing) is a delightful recently refurbished area that has a warm and welcoming atmosphere. Loose tables and leather upholstered chairs are complimented by leather settees and high poseur tables and stools all sitting on an attractive laminate floor. To one end of the room is a roaring log burner set in a feature exposed brick fireplace and there are also 2 popular and well-used darts throws. To the other end is a small section with solid oak floor and an AWP and SWP. There is also a return bar server of wood construction with 2 cask ales on offer.

Restaurant (46+ covers) is split level and set with fabulous views of the adjacent river. The room has loose tables and chairs sitting on areas of solid oak and karndean floor and is able to be laid out as required and to suit the occasion. To one end of the room is a mobile carvery unit mostly used to provide the highly popular Sunday lunch and there is a wooden bar server with coffee preparation station. To the side wall are double doors that open out into the air-conditioned/heated riverside conservatory that enables use for private parties or meetings. The conservatory area itself has exposed brickwork and double doors that provide access to the fabulous al fresco Garden Area.

There is a fully equipped Commercial Catering Kitchen with stainless steel appliances and surfaces (appliances not tested). A wash up area, dry goods store, fridge/freezer storage area and laundry lead off. There is also a walk-in chiller.

Below ground floor beer cellar with pumps, remote and python system providing additional storage space.

Current PP approved to extend the property on the ground floor to create a games room area or additional owner’s accommodation or a further letting room. PP Reference No: H17-0071-18.

Ladies, Gents and disabled WC’s / CCTV.

OWNERS ACCOMMODATION

The owner’s accommodation currently consists of only a room with a shower however could be extended by reconfiguration of the letting rooms or use of the approved planning permission.

LETTING ACCOMMODATION

Situated on the 1st floor are 9 En-suite Letting Rooms (5 double, 3 twin & 1 single). All rooms have tea/coffee making facilities, HDTV and WIFI.

EXTERNAL

To the side of the property is a delightful and spacious riverside al fresco Garden Area (c75+) with areas of decking and gravel and wooden picnic benches with Caribbean thatch parasols. This split-level area leads down to 3 moorings on the river that prove highly popular for the fishermen and passing boat trade. Also to the side of the property is a small smoking solution and to the rear is the Patron’s lined Car Park with space for c14 cars however parking is readily available throughout the village.

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 - Thurs 11am to midnight

Fri / Sat 11am to 2am

Sunday 12noon to midnight

Current opening hours are:

Mon - Fri 12noon/2.30pm, 5.30pm/close

Sat / Sun 12noon/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 (no services tested). Business rates payable are advised as being circa £8,872 per annum to include relevant reliefs.

THE BUSINESS

The current owner purchased the freehold property in 2005 and has since created a business offering fresh, seasonal and local sourced produce, comfortable accommodation and a selection of ales and drinks to a loyal, repeat and desirable clientele. The business is currently operated by the owner assisted by circa 2 full time and circa 4-part time/casual members of staff. After many years in the industry our vendor client is now looking to sell the freehold property on in order to be able to concentrate on other business interests. The business sits directly at the heart of the local community and offers a popular Sunday lunch, hosts all the licensed events at the village hall and also supports 4 successful darts teams. We are advised that accounts to 30th September 2019 show a turnover of circa £315,600 (inc VAT) achieved on a split of 45% Food sales ; 30% Accommodation sales and 25% Wet sales. New owners could continue to operate the business using the same 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 extending the opening hours, the introduction of packages for golfers and fishermen or looking at the opportunity to implement the approved planning permission.

For further information on this property please see: www.riversidehotelsurfleet.com

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

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

Details prepared October 2019

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