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CONTEMPORARY MODERN AND HIGHLY DESIRABLE PRIVATELY OWNED UNOPPOSED ‘FREE OF TIE’ RURAL INN LOCATED IN THE PICTURESQUE LINCOLNSHIRE WOLDS VILLAGE OF WEST ASHBY

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  • Picturesque rural Lincolnshire Wolds village sat close to Horncastle, Louth and the historic tourist magnet Cathedral city of Lincoln.
  • Restaurant (circa 40 covers) with beamed ceiling, solid oak floor, Tiffany chandeliers and rolling countryside views.
  • Stylish Bar (circa 20+ covers) with oak floor, attractive brick-built bar server & 3 cask ales on offer.
  • Lounge/Bar (circa 22+) with solid oak floor, Comfy furniture, Tiffany chandeliers, open log fire and games area.
  • Fully equipped commercial Kitchen with 5* EHO rating.
  • Large 3 Bedroom Owners accommodation.
  • Patio Al Fresco Garden (circa 32+) with stunning rolling Lincolnshire countryside views.
  • Advised turnover circa £206,548 (incl.VAT) year end April 2021 (Partial opening); Advised turnover for 7 months only (inc take-away) to 31st October 2021 was £174,342 (incl. VAT).
  • Trade split approx. 70% Food ; 30% wet sales.
  • Privately owned and ‘totally free of tie’ renewable lease.
AN ESTABLISHED WELL-PRESENTED FOOD LED INN LOCATED IN AN IDYLLIC LINCOLNSHIRE WOLDS VILLAGE


ASKING PRICE £59,995 LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

The business is located in the sought-after picturesque Lincolnshire Wolds village of West Ashby sitting directly on the main A153 between the historic market town of Horncastle (1 mile) and Louth (12 miles). The village of West Ashby has a church and a village hall however is surrounded by caravan parks, rambler and dog walking routes and the newly created Wolds Wildlife Park (www.woldswildlife.co.uk) is only a stone’s throw away. Cadwell Park racetrack is also close by and the historic tourist magnet city of Lincoln with its famous Cathedral and Castle is only a short drive away. The main motorway link is the M180 to the North leading into the M1 motorway with the A46, A16 and a series of other ‘A’ roads close by.

THE PROPERTY

This two-storey village inn is of brick construction sitting under a pitched, tiled and slate roof and is positioned directly on the main road running through the village.

The trading areas are immaculate throughout and furnished in a modern and contemporary style to an exceptionally high standard. An entrance porch to the side provides access to all the trading areas. These consist of:

Restaurant (circa 40 covers) is a delightful self-contained room leading off from the bar and with a warm and relaxed atmosphere. The room has loose tables and leather upholstered dining chairs all sitting on a solid oak floor. Exposed painted wooden ceiling beams and hanging Tiffany chandeliers add to the character of the room and to one end are delightful rolling countryside views of the Lincolnshire Wolds and surrounding areas. Leads to: Bar Area (circa 20+ plus standing) is a lovely bright room with a warm and welcoming atmosphere. Loose tables, tub chairs and leather armchairs are set amongst original wooden barrels with high poseur stools all sitting on a solid oak floor. There is a very well-presented and attractive central Bar Server of brick construction with 3 cask hand pulls and a coffee station to service all the trading areas. There is also a wall mounted HDTV sat in the corner. Lounge / Bar (circa 22+ plus standing) is a multi-use L-shaped area with loose tables, assorted wooden, leather upholstered dining and tub chairs complimented by a leather Chesterfield armchair and settee all sitting on a solid oak floor. There is a roaring open log fire to one end, Tiffany chandeliers and a wall mounted HDTV. There is also an area able to be used for private dining. To the other end is a games area with 2 darts throws, pool table and even the village library.

There is a large fully equipped commercial Catering Kitchen with 5* EHO rating and stainless-steel appliances and surfaces (appliances not tested). There is a separate dessert and prep area, Dry goods store and a walk-in fridge & walk in freezer.

Ground floor Beer Cellar with Heineken Smart dispense, python, pumps and remote etc.

Ladies & Gents WC.

OWNERS ACCOMMODATION

The owner’s accommodation is also of a high standard with oak flooring throughout. This briefly consists of: 3 Bedrooms, Lounge, bathroom & utility. There is also a good-sized private garden and shed to the rear with further stunning views of the Lincolnshire Wolds.

EXTERNAL

To the rear of the property is a slabbed al fresco patio area with wooden garden furniture (circa 32 covers) and stunning rolling countryside views. To the side of the property is a small area sectioned off with bistro furniture (circa 10 covers) with colourful planters, wooden barrels and views of the village church and surrounding countryside. Also to the rear/side is the patron’s large gravelled car park, with parking for circa 30 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 - Sun 11am to midnight

Opening hours are currently:

Mon – Tues Closed

Weds - Thurs 5pm to 10pm

Fri – Sat 12noon to 10pm

Sunday 12noon to 6pm

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 4 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.’ We are informed that the rent is currently circa £18,500 per annum to be reviewed by RPI only in 2022. We are also 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 Calor for cooking and heating and all other mains services including fibre optic broadband connected directly to the premises (no services seen or tested). Business rates payable are advised as currently being circa £NIL per annum.

THE BUSINESS

The current owners purchased the business in January 2016 and have since created a popular thriving business offering quality locally sourced home cooked food complimented by a selection of excellent cask ales, wines and drinks. The business attracts not only locals but also a loyal, repeat and desirable clientele is attracted from the surrounding affluent villages. The business is currently operated by our vendor clients assisted by circa 1 full time and circa 5 part time/casual members of staff. This rural food led business sits at the heart of the local community and plays host to steak nights and themed food events whilst also providing occasional live entertainment. Many local clubs and societies (including the popular local shoots) meet here on a regular basis making this a highly popular central meeting point and focus. We are advised that accounts declare takings of circa £206,548 inclusive of VAT for year ending April 2021. This was achieved with reduced opening due to lockdown and on a trade split of 70% Food sales and 30% Wet sales. Since re-opening post pandemic, we are advised turnover for the 7 months to 31st October 2021 (also reduced opening) was circa £174,342 (inc VAT) with around half of that trading on takeaway only. 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 and beyond. In our opinion this could be achieved by taking advantage of extending the opening hours, investing in the al fresco garden to create an even more impressive outdoor dining experience or introducing pool and darts teams etc to the business. This business would suit an operator(s) who have experience of working in a similar food led environment.

Further information: www.thewestashbyarms.com

Limited 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 07865 348375.

Viewing appointments can be made by emailing Guy Simmonds at sales@guysimmonds.co.uk or by contacting Richard Fletcher on 07865 348375.

All personal viewings undertaken must adhere to the evolving Covid-19 Government Guidelines.

Details prepared January 2022.

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