8367L

• Delightful and prominent location within the heart of Milcombe, Oxfordshire, close to Banbury.
• Characterful Lounge Bar (circa 40) accommodating a large feature open fireplace and bar servery.
• Restaurant (circa 60) with wood flooring, bar servery and quality furnishings.
• Snug Area (circa 20) with flagstone floors.
• Patio Area with seating for 40 and 2 car parks for 30.
• 4 Lovely En-Suite Letting Bedrooms.
• Well-presented 2 Bedroom Living Accommodation.
• Advised turnover for y/e 07/19 is £497,637 (incl. vat) with a trade split of 35% wet, 50% food & 15% letting.
• Renewable Star Inns lease with a rent of £36k.

Location

This charming and unopposed leasehold Village Inn & Restaurant with En-Suite Letting Bedrooms has a pleasant location within the heart of Milcombe, Oxfordshire.

Milcombe is a desirable village and civil parish situated about 5 miles southwest of Banbury, Oxfordshire.

The village has a population of approximately 700 people and benefits from a village hall and local stores along with the popular Rye Hill Golf Club.

Located on the edge of the Cotswolds, Milcombe is an ideal base to visit the University City of Oxford (15 miles), the market town of Banbury (5miles) and the Cotswold towns of Stow On The Wold, Moreton In Marsh and Chipping Norton (all within 12 miles).

This lovely business is well supported by the villagers and is a central part of community life along with being a favourite locally.

THE PROPERTY

This substantial Inn is an attractive and impressive 2-storey property of local stone construction under a pitched, tiled roof occupying a superb and prominent village position.

The Lounge Bar (circa 40) is a traditional room full of character with a delightful feature open fireplace, bar servery, beamed ceiling and flagstone floors complemented by its quality furnishings.

The Restaurant (circa 60 covers) is an excellent size room ideal for parties. This room is mainly used as the restaurant with solid wood flooring, bar servery, beams and wood panelling.

The Snug Area (circa 20) with flagstone floors, feature fireplace and wooden furnishings.

The Ground Floor Cellar benefits from coolers, python system and direct access to both the kitchen and bar area. The cellar has recently been refurbished and offers the ‘Heineken Smart Dispense System’.

Ladies and Gents W.C.’s.

There is a Commercial Catering Kitchen with stainless steel appliances and work surfaces (appliances not tested) with a separate wash up and preparation areas.

OWNERS ACCOMMODATION

The owner’s accommodation is situated on the Ground Floor and briefly comprises: 2 Double Bedrooms, Lounge, Fully Fitted Kitchen and Private Courtyard Area.

LETTING ACCOMMODATION

Situated on the 1st floor of the property there are Four En-Suite Letting Bedrooms (Double, Twin & 2 Family Rooms) all being offered in splendid condition and achieving rates in the region of £75-£100 per room per night.

EXTERNAL

To the front of the property is a Pleasant Patio Terrace Area offering seating for approx. 30 customers.

Opposite the business are two car parks offering parking for 30 cars in total.

To the rear is a private courtyard with storage facilities.

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:

7 days per week 11am - Midnight

Current opening hours are:

Mon – Sat Midday – 3pm, 6pm – 11pm

Sunday Midday – 5pm

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 5 years remaining of a Star Inns full repairing and insuring, renewable agreement. We are advised that the business is free of tie for wine, spirits and soft drinks. We are informed that the rent is currently £36k with the next rent review due in 2025. 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 circa £3,320 payable per annum.

THE BUSINESS

The current owners purchased the business in 2011 and are offering the property in excellent condition throughout as well as being a profitable and well- established business.

This award-winning thriving business has an excellent local reputation along with a lovely cosy feel and new owners will benefit from a profitable concern and an excellent ‘quality of life’.

We are advised the turnover for year ending 07/19 is £497,637 with a trade split of 50% food, 35% wet and 15% letting.

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: Feb 2020