8431F

• Lovely affluent Lincolnshire village location nestled between the A52 and A16 within easy reach of Spalding, Holbeach and Boston.
• Snug & Bar (circa 20 plus standing) with feature exposed brick-built fireplace and built-in log burner.
• Restaurant (28 covers) a multi-use room with exposed wooden ceiling beams and areas of exposed brickwork.
• Spacious and enclosed al fresco gravel Garden area with wooden picnic benches and shrubbed borders (circa 40+).
• Fully equipped Commercial Catering Kitchen.
• Substantial 4 double bedroom Owners’ accommodation with large private garden.
• Privately leased for the past 12 years on a ‘free of tie’ basis and attracting a rental income of circa £24,000 per annum now being sold freehold with vacant possession.
• Historical advised turnover in the region of circa £216,000 per annum (incl. VAT).
• Historical trade split 70% Food sales : 30% Wet sales.
• May be suitable for Alternative Use – (Subject to Planning Permission).
• This business is currently closed.

Location

This highly attractive inn is located on Siltside in Gosberton Risegate, an affluent sought-after village sitting to the North of Spalding in Lincolnshire. Spalding (5 miles) is a large, picturesque market town set around the River Welland within the South Lincolnshire Fens and is renowned for its glorious sunsets. With excellent schools, an array of shops and the popular and quirky Water Taxi, it is no surprise that the town and the surrounding areas have been listed by The Times as one of the best places in the country to live. The neighbouring village of Gosberton (2 miles) offers a highly respected Primary school, a Co-op store, local shops and a church. Other nearby points of interest include the popular Lincolnshire towns of Boston (15 miles), Bourne (12 miles) and historic Stamford, Rutland Water and the famous cathedral city of Lincoln are all only a short drive away.

THE PROPERTY

This cosy 19th Century inn is of brick construction sitting under a pitched, tiled roof, occupying an excellent and prominent position within the village. Entrance porches to the front and rear provide access to all the trading areas. These consist of:

Snug & Bar (circa 20+ plus standing) is a delightful and cosy area with a warm and welcoming atmosphere. Loose tables and stools are complimented by upholstered perimeter bench seating all set in front of an attractive exposed brick-built fireplace with built-in log burner. The room is fully carpeted and further areas of exposed brickwork and wooden ceiling beams add to the character and ambience. There is also a brick-built bar server with 3 cask ale hand pulls. This leads directly through to:

Restaurant (28 covers) is a lovely multi use room full of character and charm. The room is fully carpeted with loose tables and chairs sitting beneath exposed wooden beams to the ceiling complimented by areas of exposed brickwork. There is also a coffee station to one side. This room is predominantly used for dining however is also used for other events including small private functions and parties which in the past have proven to be highly popular.

Ladies and Gents W.C.’s.

There is a fully equipped Commercial Catering Kitchen with stainless steel appliances and preparation surfaces (appliances not tested). There is a dry goods storage area and a utility room providing additional storage space.

Ground floor beer cellar with delivery access, python and remote.

OWNERS ACCOMMODATION

The spacious owner’s accommodation is situated on the ground & 1st floors and briefly comprises: 4 double bedrooms and bathroom (with areas of exposed brick) to the 1st floor and a good-sized lounge/diner/kitchen with exposed ceiling beams and a brick fireplace with built in log burner on the ground floor. The accommodation has private access and a large grassed and gravel private garden area with storage sheds.

EXTERNAL

To the rear of the property is an enclosed al fresco gravel garden area (circa 40+) with wooden picnic benches and established shrubbery borders. In our opinion this could be extended further across utilising the private garden if desired to create a larger al fresco garden for the customers. To the front is the patron’s Car Park with spaces for circa 10 cars however on street parking is available throughout the village with no restrictions.

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 only:

This business is currently closed (Since April 2022)

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 property and business are being offered for sale freehold (although we have not had sight of the title deeds). We are advised that the inn requires LPG for cooking and heating (no services seen or tested). Business rates payable are advised as currently being circa NIL per annum.

THE BUSINESS

The current owners purchased the freehold property in 2007 and after running it themselves for 3 years then leased it out on a ‘free of tie basis. During the 12-year leased period it was run as an established popular business offering locally sourced home cooked food and drinks to a loyal repeat and desirable clientele. Unfortunately, following the pandemic the current lessees were no longer able to continue operating the business and the freeholder has now made the difficult decision to sell the property on. There are NO employed staff and vacant possession will be granted on completion of the sale/purchase. Up until April 2022 the business sat at the heart of the local community and offered regular quiz nights, poker/card evenings and summer BBQ’s. It also played host to the popular annual village fete. Outstanding reviews on Trip Advisor came as no surprise and advance bookings were plentiful. Guy Simmonds have sold the lease assignment at this property several times in the past 10 years and have been advised that the business turned over up to £216,000 per annum (inc VAT) on a trade split of 70% Food & 30% wet sales. There is however no accounting information available for this business. New owners could simply re-open the property, putting their own stamp on it and trading or even purchase as an investment opportunity and create a free of tie lease moving forwards. The property may also be suitable for alternative use (Subject to Planning Permission). 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

Details prepared May 2022