8563F

• Located in the market town of Caistor in the heart of the Lincolnshire Wolds, a popular tourist magnet in an area of outstanding natural beauty. Surrounded by unspoilt scenery and within easy reach of Louth, Hull, Lincoln and Horncastle.
• Front Lounge (circa 22+ plus standing) with exposed wooden ceiling beams, coffee preparation station and an attractive bar with 3 cask ales on offer.
• Side Bar (circa 20+ plus standing) with a solid oak floor and an exposed brick fireplace with built in log burner.
• Back Lounge (circa 26+ plus standing) with exposed brickwork and large wall mounted HDTV.
• Fully equipped Commercial catering kitchen with stainless steel appliances/surfaces and 5* EHO.
• Al fresco area (circa 70+ plus standing) with wooden picnic benches, parasols and heaters; Car Park.
• 3 Luxury En-Suite Letting rooms all with kitchenettes etc.
• Advised turnover to 31st March 2023 of circa £645,920 (Incl. VAT) with outstanding net profits.
• Trade split 60% Wet sales; 30% Food sales; 2% Accommodation; 8% Other.

Location

This delightful property is steeped in history and sits close to the quaint and quirky market place in the lovely bustling Lincolnshire town of Caistor. The town sits in an area of outstanding natural beauty, a tourist magnet that is situated on the Viking Way, a popular destination for walkers wishing to explore the beautiful Lincolnshire Wolds. The town itself has 3 schools, local shops, facilities and amenities, a library and 2 churches. Nearby points of interest include Louth, Hull, Horncastle and the historic thriving cathedral city of Lincoln is only a short drive away. The nearby road networks are excellent with the A46, A15, A16, A18 and A180 all within easy reach providing a route in, out and around this stunning area.

THE PROPERTY

This delightful prominent and unopposed inn is of brick construction and sits under a pitched pan tiled roof. Entrances to the front and side of the property provide access to the trading areas. These consist of:

Front Lounge (circa 22+ plus standing) is characterful room with a warm and welcoming atmosphere. Loose tables and chairs are complimented by upholstered perimeter bench seating all sitting on a fully carpeted floor. Exposed wooden beams to the ceiling look down on an ornate fireplace to one end and an attractive carved wooden bar server with 3 cask ales on offer.

Side Bar (circa 20+ plus standing) has loose tables, chairs, high and low stools and wooden bench pews all sitting on an attractive solid oak floor. An exposed brick-built fireplace with built in log burner adds to the character and charm of the room along with a wooden bar server and historic photos of the town that adorn the walls. The room also has a darts throw, Juke box, AWP and 2 x HDTV’s.

Back Lounge (circa 26+ plus standing) has loose tables, chairs and upholstered perimeter bench seating all sitting on a fully carpeted floor. Exposed brickwork to one side compliments the room and there is a large wall mounted HDTV, a large selection of books and a central ceiling fan. Below ground floor temperature-controlled Beer Cellar with 8 cask tilts, python system, pumps and remote etc. There is a fully equipped commercial catering Kitchen area with stainless steel appliances and surfaces (appliances not tested) and 5* EHO rating. There is also a good sized self-contained fridge/freezer and dry goods storage area to the rear.

Ladies and Gents WC’s / CCTV in and out.

OWNERS ACCOMMODATION

There is no owner’s accommodation for this business. This was all converted to create the luxury en-suite letting rooms however, in our opinion 1 of the current letting rooms and the existing small office could be used by new owners as their accommodation if desired.

LETTING ACCOMMODATION

Situated on the 1st floor are 3 luxury En suite letting rooms (adaptable as twins or super king) with kitchenette, WiFi, Tea/Coffee making facilities, safe and flat screen TV’s.

EXTERNAL

To the rear and side of the property is a hard standing/patio al fresco area (circa 70+ plus standing) with wooden picnic benches, parasols and heaters all set amidst colourful troughs and planters. The patron’s car park sits to the rear of the property with space for circa 12 cars however unrestricted parking is readily available throughout the town. There is also is a heated and lit smoking solution to the side of the property.

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 11amt to midnight

Sunday 12noon to midnight

Current opening hours are:

Mon – Thurs 11am to 11pm

Fri / Sat 11am to midnight

Sun 12noon to 10.30pm

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 freehold (although we have not had sight of the title deeds). We are advised that all mains services are connected (no services tested). Business rates payable are advised as being circa £6,445 per annum.

THE BUSINESS

This highly profitable business has been in the hands of the same family for the past 27 years after purchasing it in 1996. The business is the hub of the local community and has an eclectic mix of customers. It operates serving quality ales and drinks and excellent locally sourced home cooked food to a loyal, repeat and desirable clientele. This is complimented by the offering of luxury accommodation in the 3 lovely en suite letting rooms. The business is currently operated by the owners themselves assisted by circa 3 full time and circa 6 part time/casual members of staff. Now, after many successful years in the licensed trade our vendor clients are looking to sell the freehold on in order to be able to take life at a more leisurely pace. Aside from food, drink and accommodation, the business also plays host to darts and dominoes teams and holds the occasional disco or live entertainment evening. We are advised that accounts to 31st March 2023 show a turnover of £645,920 (Incl. VAT) on a trade split of 60% Wet sales, 30% Food sales, 2% Accommodation and 8% other. The business attracts exceptional Net profits alone and we calculate reconstituted Net profits after adding back only depreciation to be in excess of £116,000. New owners could continue to operate the business using the same highly successful formula or may wish take the business further by adding ideas from their business plan.

Accounting information will be made available to interested parties after viewing.

Viewing appointments must be made by contacting Guy Simmonds on 01332-865112 or sales@guysimmonds.co.uk

Details prepared November 2023