8425L

• Located directly off the A1 in the Soke of Peterborough close to the Lincolnshire, Northants and Rutland borders within easy reach of Stamford, Burghley House, and Rutland Water.
• Open Plan Split Bar area (circa 50+ plus standing) with exposed stone walls, multi-fuel burner, air conditioning and 4 HDTV’s.
• Commercial catering kitchen offering untapped opportunities (Currently unused).
• Thriving Convenience Store with computerised till system and Booker link offering National Lotteries, Paypoint and Laundry franchise.
• Mature Al fresco Garden (circa 80+) with picnic benches, shrub borders and smoking solution ; Patron’s car park.
• Owner’s 4 Bed accommodation with private access.
• Advised ‘combined’ turnover circa £647,000 (incl. VAT) for year ending August 2020 / Trade split 90% Shop sales ; 10% Pub (Trading Wet sales only).
• A brand new highly desirable ‘Privately owned’ & ‘totally Free of Tie’ Renewable Lease.

Location

This unopposed public house and convenience store is located in the North-West Cambridgeshire village of Wittering positioned directly off the A1 motorway and close to the Northants, Lincolnshire and Rutland borders. Wittering itself has an Inn, a church, several take aways, barbers, community store and a garage. It has also been home to RAF Wittering for over 100 years. Nearby points of interest include the historic town of Stamford (3 miles), the cathedral City of Peterborough (9 miles), Burghley House (where the famous horse trials are held and the beautiful Rutland Water nature reserve. The bustling town of Corby, Tallington Lakes and Nene Valley Railway are also close by. The local road networks include the A1 that provides access to the North and South of the UK accompanied by A47, A43 and A606 all within easy reach.

THE PROPERTY

This substantial property was built in 1875 initially as a school. It has since been extended and has traded as the village pub for the past 30+ years and the convenience store was created around circa 7 years ago. The property itself is of stone-built construction to the front and brick to the rear and sits beneath a blue slate apex roof on the main road running through the village. Entrances to the front and rear of the property provide access to all the trading areas. These consist of:

Open Plan Split Bar Area (circa 50+ plus standing) has areas of exposed stone walls and a warm and welcoming atmosphere. The trading areas sit either side of an exposed stone-built chimney breast with built in multi-fuel burner. Both have an assortment of loose tables, chairs, stools and wooden perimeter bench pews all sitting on a fully carpeted floor. The room is fully air conditioned with separate heaters and there is an AWP and 4 large wall mounted HDTV’s for all round viewing. To one end of the room is a bar server of wooden construction with computerised till system and altro laminate effect trim.

Ladies and Gents W. C’s / Baby change / CCTV.

There is a commercial catering Kitchen with stainless steel appliances and surfaces (appliances not tested) that is currently unused. In our opinion this offers great opportunity for the introduction of a food offer to the business. Ground Floor Beer Cellar with python, pumps and remote.

CONVENIENCE STORE

Sits adjoining the public house with customer access and disabled ramp to the front of the property. An attractive and modern retail area offers all goods, fresh, frozen, tinned and dry via shelving, 3 sales freezers and a fridge. There is also plenty of storage space and staff WC. This really is a thriving and profitable village store and acts as the central hub and heart of the local community. A computerised till system is supported by a back-office computer with Booker Link and this long-established business enjoys all year-round regular trade. It also offers National Lottery, Health Lottery, Paypoint and a laundry franchise.

OWNERS ACCOMMODATION

The owner’s accommodation is situated on the 1st floor and has private access. This briefly consists of: 4 bedrooms (3 double/1 single), Lounge, kitchen, bathroom and separate WC.

EXTERNAL

To the side of property is an elevated grassed al fresco garden area (circa 80+ covers) that is able to accommodate a marquee. The area has wooden and plastic picnic benches and a covered smoking solution to one side. This lovely sun trap is highly popular in the summer months and mature and established shrubbery borders make it even more of a pleasant place to sit and watch the world go by. The patron’s car park is to the rear of the property and provides spaces for circa 20+ 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: Store

Mon – Sun 7.30am to 8.30pm

Pub

Sun – Thurs 7.30am to midnight

Fri/Sat 7.30am to 00.30am

Current opening hours are:

Store

Mon – Fri 7am to 8.30pm

Sat 8am to 7.30pm

Sunday 9am to 7pm

Pub

Mon – Thurs 4pm to 10pm

Fri 2pm to midnight

Saturday 12noon to midnight

Sunday 12noon to 10pm

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 new highly favourable 10-year Private FRI Lease Agreement. 1. The asking premium will be £49,500.

2. The initial annual rent will be £35,000.

3. The annual rental is simply RPI linked to inflation every 3 years, hence no market rent reviews.

4. Rent payable monthly in advance.

5. Lease re-assignable after initial 3-year period.

6. Free of all brewery and supply ties.

7. Each party responsible for own legal costs relating to the transaction.

8. Deposit equivalent of 3 months’ rent.

9. Satisfactory references will be required on behalf of our vendor client.

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 pub benefits from mains services being connected (services not tested). Business rates payable are advised as being £Nil/Exempt (Both pub and store).

THE BUSINESS

The current owner purchased the freehold property in 1990 and over the past 31+ years has transformed the business to now include the thriving village convenience store and along with the pub that currently offers drinks (only) to a loyal, repeat and desirable clientele. Unfortunately, due to ill health our vendor client is now looking to lease the business on a totally ‘free of tie’ basis in order to be able take life at a more leisurely pace. The pub business currently operates on reduced hours and is operated by the owner assisted by 2 part time/casual members of staff. The convenience store operates with the owner’s partner assisted by 3 past time/casual members of staff. The public house currently plays host to a monthly quiz, weekly bingo and regular music nights. It also shows all major sporting events on both Sky and BT Sports. We are advised that combined accounts declare takings of circa £647,000 (inclusive of VAT) for year ending August 2020. Individually annual turnover is circa £604,280 (Store inc VAT) and £43,200 (Pub inc VAT trading wet sales only). Closed from March 2020 due to Covid. Pub takings 11 months to 01-04-22 are advised at £103,200 (inc VAT – Wet sales only) We calculate combined reconstituted net profits after adding back one-off costs to be in region of £85,000. This business provides great opportunity for a new operator(s) to come in and put their own stamp on it using ideas from their business plan. Whilst the shop is already a thriving business new owners may wish to continue to run that side of the business using the same successful formula whilst concentrating on the untapped opportunities in the other side. In our opinion this could be taken to the next level by extending the currently reduced trading hours and the introduction of a basic but good food offer (to include breakfasts). This business would suit an operator(s) who has worked in a similar environment.

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 must be made by contacting Guy Simmonds on 01332-865112 /

Richard Fletcher on 07865 348375 or by emailing

sales@guysimmonds.co.uk

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

Details prepared April 2022