8378L

DESIRABLE UNOPPOSED ‘FREE OF TIE’ COUNTRY INN WITH RESTAURANT AND 3 EN-SUITE LETTING ROOMS LOCATED IN THE DELIGHTFUL SOUGHT-AFTER LEICESTERSHIRE VILLAGE OF SPROXTON

8378L


  • An affluent sought-after Leicestershire village that sits close to the Lincolnshire border nestled between the towns of Grantham and Melton Mowbray and with easy access to the A1.
  • Bar area (c12+ plus standing) with darts throw.
  • Lounge/Bar (c24+ plus standing) with log burner set in a carved stone fireplace and 4 rotating local cask ales on offer.
  • Restaurant (c35 covers) with ceramic tiled floor, a substantial wine display and access to the lower level flagstone al fresco area with marquee.
  • 3 highly attractive en-suite Letting Rooms.
  • Fully equipped Commercial Catering Kitchen.
  • 2 double bedroom Owners’ Family Accommodation.
  • Spacious and attractive split level rear al fresco area with marquee and Petanque piste ; Smoking solution ; Patrons car park.
  • Advised turnover circa £138,000 (incl. VAT) to 31st December 2019 trading only on limited hours and achieved on a trade split - 60% Wet sales : 30% Food sales : 10% Accommodation.
  • Privately owned and totally ‘Free of Tie’ renewable lease.
A FANTASTIC OPPORTUNITY TO ACQUIRE A DELIGHTFUL PROPERTY OFFERING FURTHER UNTAPPED OPPORTUNITIES


ASKING PRICE £47,500 LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This desirable, friendly and unopposed inn is nestled in Leicestershire countryside in the lovely village of Sproxton and sits close to the Lincolnshire border. Sproxton has only an inn, a church and village hall, is surrounded by other desirable villages and is highly popular with tourists, ramblers and walkers who regularly frequent the Viking way. Nearby points of interest include the bustling market town of Melton Mowbray (world famous for its pork pies) and the popular town of Grantham. The majestic Vale of Belvoir and its famous castle are also close by and Waltham on the Wolds and the stunning county of Rutland are also within easy reach. The local transport networks are very good with the A1, A46, A52 and A15 all easily accessible.

THE PROPERTY

This traditional 17th century inn sits on a large plot in the heart of the village. The property is of stone construction and sits under a pitched slate roof. Entrance porches to the front and rear provide access to all the trading areas. These consist of:

Bar area (c12+ plus standing) has a warm and welcoming atmosphere with loose tables and chairs all sitting on a chequered quarry tiled floor. The room has a darts throw and bar server of wood construction. Lounge/Bar (c24+ plus standing) is a delightful spacious room with loose tables and chairs complimented by sofa seating and a long scatter cushion covered wooden bench pew. The room has a wood effect Karndean floor and an attractive log burner set in a carver stone fireplace sits to one side. There is also a bar server of wood construction with 4 cask ales on offer.

Restaurant (c35 covers) is a self-contained room to the rear of the property and has a warm and relaxed atmosphere. Loose tables and leather upholstered dining chairs all sit on an attractive ceramic tiled floor and are able to be laid out as required and to suit the occasion. Areas of exposed stonework add to the character and charm and to one end of the room is a large lit glass cabinet showing off a rather splendid display of wines. To the side an entrance leads out onto the lower flagstone al fresco patio area and marquee (not included in sale but open to negotiation) enabling the ability to accommodate larger parties/functions or simply to use as an extension to the dining area in the warmer weather.

Ladies, Gents and disabled W.C.’s

There is a fully equipped Commercial Catering Kitchen with stainless steel appliances and surfaces (appliances not tested) with wash up, dry goods and fridge/freezer storage areas leading off.

Ground floor beer cellar with python, remote etc.

OWNERS ACCOMMODATION

The owner’s accommodation is located on the 1st floor and briefly consists of: 2 double bedrooms, a lounge/diner, kitchen and bathroom.

LETTING ACCOMMODATION

Situated on the 1st floor of the property and with private access are 3 spacious and delightful en-suite letting rooms consisting of 2 doubles and 1 king. All rooms are spotlessly clean and have tea/coffee making facilities and HDTV’s.

EXTERNAL

To the rear of the property is a spacious split level al fresco area (c40+ covers plus standing) with flagstone floor and established borders, pots and shrubs. An assortment of wooden and iron garden furniture is complimented by a large marquee (not included in sale) that sits over the lower section. Also to the rear are a highly popular floodlit petanque piste and the patron’s car park providing space for c30+ 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- Thurs 11am to 11pm

Fri – Sat 11am to midnight

Sunday 12noon to 11pm

Current opening hours are:

Mon 6pm to 11pm

Tues - Thurs 5pm to 11pm

Fri – Sat 12noon to midnight

Sunday 12noon to 8pm

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 2½ years remaining of the privately owned, full 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 £24,500 per annum not to be reviewed until 2023. 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 mains services (no services seen or tested) with LPG used for cooking & heating purposes. Business rates payable are advised as currently being circa £NIL per annum. *Please note a £3,500 refundable security deposit is required as per the heads of terms in the lease.

THE BUSINESS

The current owners purchased the business in 2014 and have since created an environment offering locally sourced home cooked food, a selection of wines, drinks and ales and clean and comfortable accommodation. This is all served to a loyal, repeat and desirable clientele. Currently run by the owners assisted by circa 4 part time members of staff our vendor clients are now reluctantly selling the business in order to be able to take life at a more leisurely pace. Sitting at the heart of the local community the business offers occasional live entertainment, themed food promotions and plays host to 2 petanque teams and popular weekly bike nights in the warmer weather. It is also dog friendly in the bar area. We are advised that accounts ending 31st December 2019 will show a turnover of circa £138,000 (inc VAT) achieved on a trade split of 60% Wet sales, 30% Food sales & 10% Accommodation. Due to ill health this has been achieved on reduced trading hours. New owners could continue to run the business using the same formula or they may wish to take the business to the next level and beyond. In our opinion this could achieved by taking advantage of extending the opening hours, looking to further develop the al fresco dining area with the introducing a new food menu whilst advertising the delightful letting rooms on national letting websites.

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

This business was viewed by Richard Fletcher who would be delighted to discuss further details and can be contacted on 07527 718400.

Viewing appointments must be made by contacting Guy Simmonds on 01332-865112.

Details prepared March 2020

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