8551F

• Moored on the river Trent at the town wharf sitting in the shadows of the historic castle walls in the centre of the bustling Nottinghamshire market town of Newark.
• Sun Deck (circa 24+ plus standing/max 60 occ) with River, Castle, Wharf and Bridge views.
• Main Bar/Below Deck (circa 70+ plus standing - max 110 occupancy) with a feature central ships telegraph.
• Nautical bric-a-brac and original features.
• Small but well-equipped commercial catering kitchen with 5* EHO rating.
• Spacious colourful riverside garden area (circa 200+) with wooden benches and bridge and castle views.
• Advised annual turnover of circa £497,788 (incl.VAT) to year end 30th September 2022. Achieved on a trade split of circa 80% Wet sales & 20% Food sales and excellent reconstituted net profits.
• Advised sales for year-end September 2023 expected to be in-excess of £500,000 (incl. VAT).

Location

This landmark licensed barge business is located in the centre of the historic Nottinghamshire town of Newark that is one of the main stops on the East Coast Main Line Railway route. Moored at the town wharf on the river Trent the business sits in the shadows of the historic castle walls. The River Trent runs directly through the town & it is a very popular area with visitors and tourists all year round with many visitor attractions that include Newark Castle & Newark air museum. Nearby points of interest include Southwell (7 miles) with its famous Minster and racecourse, the City of Lincoln (15 miles) with its historic Castle & Cathedral, the Vale of Belvoir (12 miles) and the popular City of Nottingham is only 17 miles away. The motorway networks are excellent and the A1 and A46 both close by.

THE PROPERTY

THE BARGE

This converted barge/inn was formerly a Spillers grain barge plying its trade between Hull and Gainsborough. It was converted into a public house in 1980 and still to this day is an established part of the town’s pub and restaurant scene. We are advised that in 2020 the vessel was put in a dry dock in Hull to be surveyed following which £65,000 of repairs were carried out. There is an itemised invoice of these works available. We are also advised that a new roof was added in 2023.

A main entrance to the front provides access to all the trading areas. These consist of:

Sun Deck (circa 24+ plus standing – max 60 occupancy) is a light and bright room with a warm and welcoming atmosphere. The room has loose tables, leather upholstered chairs and scatter cushion covered upholstered perimeter bench seating. Fully carpeted and with a painted wooden ceiling there are opening windows that provide beautiful views of the river Trent, Newark Castle and Trent Bridge. Nautical themed bric-a-brac adorns the walls and there is a darts throw to one end. An attractive staircase leads downstairs to:

Main Bar – Below Deck (circa 70+ plus standing – max 110 occupancy) is an inviting room with a warm and vibrant atmosphere throughout. Loose tables, leather upholstered chairs, wooden bench pews, upholstered perimeter bench seating and high stools all sit on areas of oak and carpeted flooring. Nautical themed bric-a-brac and cask ale pump clips adorn the walls and there is a feature ‘Ships Telegraph’ positioned in the centre. To the ‘stern end’ which was formerly the bedroom in days gone by is a captain’s style table with great views of the whole bar area and original features of the barge on show. There is a well-presented bar server of wood construction with 4 cask ales on offer, a coffee station and ornamental Flemish oven.

There is a small but well-equipped commercial Catering Kitchen with stainless steel appliances and surfaces (equipment not tested) and 5* EHO rating. Separate fridge/freezer and storage areas.

Sun deck level Beer Cellar with python system, pumps and remote and additional storage space.

Ladies and Gents WC’s.

CCTV & Wi-Fi throughout.

OWNERS ACCOMMODATION

There is no owner’s accommodation with this business. It is a lock up.

EXTERNAL

To the side of the Barge is a spacious grassed and patio al fresco garden area (circa 200+) with wooden picnic benches and colourful baskets troughs and planters. Sitting directly in line with the historic castle to one side and the flowing river Trent to the other makes this an ideal place to sit, eat or drink and watch the world go by! Also to the front is a council owned pay and display car park with competitive pricing throughout the day and evening with circa 50+ lined parking spaces.

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 midnight

Sun 12noon to midnight

Current opening hours are:

Sun/Mon/Tues/Thurs 10am to 9pm

Weds/Fri/Sat 10am to midnight

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 boat and business are being offered for sale to also include goodwill, fixtures and fittings and the benefit of the council mooring lease (although we have not had sight of the title deeds/lease agreements). We are informed that an annual rent of circa £15,000 is payable to Newark and Sherwood District Council which relates to the underlease for the mooring. In addition, we are informed that the external grassed and patio Garden Area at the side of the Barge (see External section above) is on a rolling assignable lease with Newark and Sherwood District Council commanding an annual rent payment of circa £2,000 (although we have not had sight of this agreement).

We are advised that mains services are connected (no services tested) and the business uses electricity throughout for cooking and heating purposes. Business rates payable are advised as currently being circa £4,000 per annum.

THE BUSINESS

The current owners have run this iconic business since 1980 initially as brewery tenants and then purchasing the Barge outright in 2010. Over the past 43 years they have provided an offer of quality food and drinks in fabulous comfortable surroundings all served to a loyal, repeat and desirable clientele. After many years within the industry our vendor clients are now looking to retire from the business in order to take life at a more leisurely pace. The business is currently operated by one of the owners assisted by a manager and circa 10-part time/casual members of staff. This well-known highly popular and profitable business sits at the centre of the local community in the town and has received excellent reviews on Trip Advisor and Google. The business not only plays host to a weekly quiz night, weekly Poker evening and a competitive darts team but also provides a highly popular stone baked pizza offer, regular happy hours, cocktails and occasional live entertainment. It is also a popular venue for hosting wedding reception parties.

We are advised that accounts to year end 30th September 2022 show an annual turnover of £497,788 (incl. vat) achieved on a trade split of circa 80% wet sales and 20% food sales. We calculate reconstituted net profits (assuming the business will be run by hands-on owner operators) after adding back managers wages, and one-off/personal costs to be in excess of £90,000. We are advised that sales for year-end September 2023 are expected to be in-excess of £500,000 (incl. VAT).

New owners could continue to operate the business using the same highly successful formula or may wish to take the business to the next level. In our opinion this could be achieved by introducing a new food menu/offer complimented by ideas from their business plan.

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 or sales@guysimmonds.co.uk

Details Updated: September 2023