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TRADITIONAL AND WELL PRESENTED ‘FREE OF TIE’ INN FOR SALE WITH 3 LETTING ROOMS LOCATED IN THE HEART OF THE POPULOUS BUSTLING DERBYSHIRE TOWN OF LONG EATON

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  • Long Eaton is a populous bustling town centre positioned between Nottingham and Derby near Attenborough Nature reserve and with easy access to the M1 and East Midlands airport.
  • Open Plan Trading area (c55+ plus standing) with attractive comfortable furnishings, 2 x HDTV’s, Projector/Big screen and Games area.
  • 3 self-contained letting rooms with shared facilities.
  • Commercial catering kitchen (currently unused) providing opportunity to introduce a food offer.
  • 1-bedroom owners’ accommodation.
  • Spacious rear al fresco patio area with covered pergola and smoking solution ; Large council owned pay and display car park to the rear.
  • Advised turnover circa £280,000 (incl. VAT) to 31st January 2020 achieved on 100% Wet sales.
  • Privately owned and totally ‘Free of Tie’ renewable lease.
AN EXCELLENT OPPORTUNITY TO ACQUIRE AN ALREADY ESTABLISHED BUSINESS OFFERING FURTHER UNTAPPED OPPORTUNITIES


ASKING PRICE £75,000 LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This traditional inn is located in the heart of the Derbyshire town of Long Eaton and sits on the main road running through the centre. Long Eaton is positioned close to the Nottinghamshire border and the town centre has many shops, schools and facilities with the edge of the town being surrounded by major supermarkets. Nearby points of interest include Attenborough Nature Reserve, Donington Park racetrack and East Midlands airport. The local road networks are excellent and include the nearby M1, A52, A50 and A38 that are within easy reach and provide access to the famous cities of Nottingham, Derby and Leicester.

THE PROPERTY

This well-presented inn sits on a large plot and is of rendered stone block and brick construction sitting under a pitched slate roof. A small entrance porch to the front provides access to the open plan trading area,this consists of:

Open Plan Trading area (c55+ plus standing) is presented in excellent order with comfortable furnishings and a warm and welcoming atmosphere. Loose tables and leather upholstered chairs are complimented by leather upholstered perimeter bench seating, all sitting on an attractive laminate floor. A games room leads off to the side with a pool table, darts throw and projector with large drop-down screen. There is a well-presented bar server of wood construction to service all the trading areas. The room also has 2 x AWP’s, a juke box and CCTV throughout.

Ladies, Gents & Accessible W.C.’s

There is a Commercial Catering Kitchen leading off from the main bar area with minimal equipment and stainless-steel surfaces (no appliances tested). This is currently unused and has not long been created and provides immense opportunity for the introduction of a basic food offer.

There is a partially below ground floor cellar with python, remote, pumps etc and a good sized storage room leading off.

OWNERS ACCOMMODATION

The owner’s accommodation is located on the 1st floor and briefly consists of: 1 double bedroom, lounge, bathroom and large open plan kitchen area.

LETTING ACCOMMODATION

Situated on the first floor of the property and with private access are 3 individual self-contained letting rooms all with shared kitchen and bathroom facilities. These rooms attract an income to the business of c£12,000 per annum.

EXTERNAL

To the rear of the property is a spacious enclosed hard standing al fresco area with wooden outdoor furniture and wooden picnic benches (c60+ plus standing). There is a covered pergola area and purpose-built smoking solution to the side. There is no car park for this business however immediately to the rear of the garden area is a large lined council owned pay and display car park.

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:

Sun- Thurs 10am to midnight

Fri – Sat 10am to 1am

Current opening hours are:

Mon – Sun 10am to 11pm

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 9 years remaining of the privately owned, internal only repairing and insuring, renewable agreement. We are advised that the inn is totally ‘free of tie’ on all products and that the rent is currently £21,600 per annum not to be reviewed until 2022. We are advised that at the end of the term, the current 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 all mains services (no services seen or tested). Business rates payable are advised as currently being circa £7,000 per annum.

THE BUSINESS

The current owners took over the business in January 2019 and have since created a thriving business and environment offering quality drinks, wines, minerals and comfortable accommodation to a loyal, repeat and desirable clientele. The business is currently run by our vendor client assisted by 2 full time members of staff. Our vendor clients are reluctantly selling the business on in order to have time to concentrate on their other business interests. Sitting at the heart of the local community and on the main circuit that runs around the town the business plays host to a pool team (during the season) whilst also providing Sky and BT sports events. It also hosts a monthly live entertainment/DJ evening. We are advised that accounts ending 31st January 2020 show a turnover of c£280,000 (inc VAT) achieved on 100% Wet sales to include the letting accommodation. New owners could continue to run the business using the same successful formula or may wish to take the business to the next level. In our opinion this could achieved by taking advantage of extending the opening hours and looking at the massive opportunity to introduce a food offer.

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 February 2020

ADDITIONAL IMAGES

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