8441L

• Well-positioned property situated in the highly desirable location of Walworth.
• Welcoming and traditional Public Bar (circa 40+), inviting Lounge (circa 25+) and a cosy Snug (circa 12).
• Commercial Catering Kitchen.
• Two good sized enclosed Courtyards (circa 100+).
• Historical advised turnover for YE July 2017 circa £450,000 (incl. VAT).
• Trade split circa 50% wet and 50% food sales. Immense potential for catering/events orientated operators.
• Business is currently closed.
• NEW 10 YEAR PRIVATE FREE OF TIE LEASE.

Location

This superb business can be easily reached from the A3 near Kennington. Situated within the commuter belt being approximately ONLY a few miles from the centre of the capital city of London and also having excellent road communications providing easy access to the M25, M23, M3, M4, M40, M11 and M1 motorways making this superb location an excellent strategic commuter area for the major motorways and the major international airports of Heathrow, Gatwick, Stansted and Luton.

The inn draws an excellent level of local trade from Walworth itself which is further enhanced by its first class reputation for top quality beers and an excellent food offering that attracts trade from a desirable clientele emanating from the nearby surrounding towns and larger catchment areas that culminate in providing a continuous and consistent flow of repeat trade and is also well serviced by local schools, shops and amenities.

An enviable place to reside offering an amazing business opportunity.

THE PROPERTY

Main entrance at the front leading into the Public Bar.

Public Bar (circa 40+) is a lovely traditional room exuding a welcoming ambience having a feature central horseshoe shaped return bar servery with a solid polished counter Adding to the charm and character of the room are the solid oak floor and the part panelled walls. Access to the Lounge Area and the Snug Area.

Lounge Area (circa 25+) is an inviting and relaxing room. There is also a feature open fireplace with a lovely marble surround, a solid oak floor and part panelled walls.

Snug Area (circa 12) offering a cosy atmosphere.

There is also a solid oak floor and part panelled walls.

Catering facilities include a commercial Kitchen (situated on the lower ground floor) with stainless steel appliances and preparation surfaces (appliances not tested). There is also a Prep and Wash-up room.

Lower Ground Floor Cellar with dray drop.

Ladies and Gents W.C.s

EXTERNAL

There is a good sized enclosed Courtyard at the side and an enclosed courtyard at the front.

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:

Monday – Saturday – 11.00am – Midnight

Sunday – Midday – 10.30pm

The current opening hours are as follows:

Business is currently closed.

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 is being offered for sale as a new highly favourable 10 year Private FRI Lease Agreement as follows:

The asking premium will be £100,000.

The initial annual rent will be £65,000

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

Rent payable monthly in advance.

Deposit equivalent of 3 month’s rent.

Lease assignable after initial 2-year period.

Free of all brewery and supply ties.

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

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

We are advised that the inn benefits from all main services and uses gas fired heating (services not tested). Business rates payable are advised as being approximately ONLY £10,700 per annum

THE BUSINESS

Our vendor clients operated this successful business as a ‘husband and wife’ team on a full-time basis with the assistance of 5 full time and 1 part time members of staff.

Trade was derived from circa 50% wet and 50% food sales. This is a good opportunity for a new full time hands-on owner operator partnership with previous experience of running a catering/events orientated operation which will enable them to exploit the food and functions potential that is to be found here.

Advised historic turnover for YE July 2017 was circa £450,000 (incl. VAT). The business closed at the start of the Covid-19 pandemic in-line with regulations and has sadly not reopened.

This delightful inn was an extremely well-established and successful business.

Viewing appointments must be made by contacting either Helen Russell on 07968 376590 or Guy Simmonds on 01332-865112 or by emailing sales@guysimmonds.co.uk

Details prepared November 2022