8384L

POPULAR AND THRIVING AWARD WINNING RESTAURANT OFFERED ON A ‘FREE OF TIE’ LEASE, IN AN ENVIABLE LOCATION IN THE RURAL VILLAGE OF FORDHAM, CAMBRIDGESHIRE CLOSE TO ELY AND NEWMARKET

8384L


  • Well established Restaurant in a sought after village location.
  • Welcoming Dining Area with open fire and fully equipped bar servery.
  • Separate Meet and Greet Area.
  • 3 bedroom Owner’s Accommodation with domestic kitchen.
  • Fully equipped Commercial Kitchen.
  • Large enclosed Family Garden.
  • Two section Patron’s Car Park for approximately 20 cars.
  • Advised turnover circa £359,394 (incl. VAT) for year ending March 2019.
  • Trade split 20% wet, 80% food.
  • ‘Free of Tie’ renewable private lease.
A RARE OPPORTUNITY TO ACQUIRE THIS SUCCESSFUL AND THRIVING OUTSTANDING BUISNESS IN A DESIRABLE LOCATION WITH FURTHER GROWTH POTENTIAL


ASKING PRICE £59,500 LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This highly desirable country restaurant can be found in the village of Fordham in the heart of rural Cambridgeshire on the River Snail approximately 4 miles north of Newmarket and 9 miles south of Ely just off the A142. Fordham is a typical Cambridgeshire village and is believed to date back to the Bronze Age and Iron Age with a current population in excess of 2,700. Fordham has a good range of local amenities including several shops, post office, primary school and pre-school and is home to the church of St. Peter and Mary Magdalene. The village also contains a number of listed buildings and has a designated conservation area. The busy and bustling town of Newmarket, with its many shops, cafes and leisure facilities and famous for its race course, is only 4 miles away and the large Cathedral city of Ely with its picturesque river setting is also in close proximity.

THE PROPERTY

Is an attractive eye catching two storey building of brick construction under a pitched slate roof occupying a prominent position and has been well maintained throughout.

Main Dining Area (circa 50) is of a modern style and is in two sections with a truly welcoming atmosphere. There is a feature brick fireplace with open fire, wooden flooring, exposed brickwork, fully equipped burnt wood effect bar servery including bottle fridges, spirit display and coffee station and is stylishly furnished with solid wooden tables and matching chairs. The lower section also has wooden flooring, wine chiller and furnished as the main dining area (ideal for more intimate dining).

Meet and Greet Area (circa 10) is separate to the main dining area with wood effect flooring and wooden tables with matching chairs.

Ladies and Gents W.C. all in good order and well maintained.

Catering Facilities there is a fully equipped commercial kitchen with stainless steel surfaces, extractor, cooker, oven, fryers and grill etc. (appliances not tested), separate prep area incorporating a fully equipped and well maintained cellar section. It should be noted that the two blue seal and buffalo ovens, buffalo fryers and dishwasher area on a lease purchase agreement which commenced 2019 and not included, however the agreement can be transferred to the new owners.

OWNERS ACCOMMODATION

Located on the first floor with separate access and comprises of 3 double bedrooms, lounge, domestic kitchen, bathroom.

EXTERNAL

To the front of the property there is a gravelled patron’s car park for approximately 10 cars and to the rear there is a large enclosed family garden laid to grass with picnic benches, brick built outbuilding and a walk in fridge, also a second patron’s car park for a further 10 cars.

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 11am to 11pm

Sunday 12noon to 10.30pm

Current opening hours are:

Mon/Tues Closed

Wed 6pm to 11pm

Thur-Sun 12noon to 3pm, 6pm to 11pm

Sun Closes at 10.30pm

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 6 years remaining of a private full repairing and insuring, renewable agreement. We are advised that the restaurant is free of tie. We are informed that the rent is currently £26,000 per annum to be reviewed in August 2021. 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 restaurant benefits from mains services (no services seen or tested). Business rates payable are advised as currently being circa £7,800 per annum.

THE BUSINESS

Our vendor clients took over the business 6 years ago and during this time they have built up a very well established and successful trade and have earned a good reputation for a high quality destination dining venue offering local produce including game and fish etc. This establishment not only enjoys a high level of regular repeat trade from the local community and surrounding areas but also attracts trade from Newmarket and Ely and has excellent reviews on Trip Advisor and we are advised has achieved awards such as 2 AA, Rosettes, Trip Advisor Certificate of Excellence and a Michelin two star. With the superb outdoor facilities (including planning permission for a marquee) this establishment is also becoming a popular venue for private hire such as wedding receptions, parties and family gatherings etc. Due to other business commitments our vendor clients have decided to sell.

The business is currently being run by 2 full-time chefs, full-time front of house manager and 7 part-time staff. It should be noted that the owners do not work in the business. We are advised that accounts declare takings of circa ££359,394 (incl. VAT) for year ending March 2019. There is true growth potential for new owners to build on the already successful trade by extending the opening hours and by promoting the private hire facilities.

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

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 at sales@guysimmonds.co.uk.

Details prepared March 2020

ADDITIONAL IMAGES

8384L

8384L

8384L

8384L

8384L