8433L

• Sitting on a circa 2-acre plot (not measured) in a conservation area in the Southern part of the Lincolnshire Wolds and in an area of outstanding natural beauty. Only 1 mile from Spilsby, 12 miles from the East coast and surrounded by beautiful rolling countryside and other affluent villages.
• Bar Area (circa 26+) with exposed wooden ceiling beams, exposed brick-built fireplace and log burner.
• Dining Room (circa 44 covers) with modern furnishings, a coffee service station, exposed brick-built fireplace with built in log burner, self-contained servery room with carvery units and concertina doors opening out onto the simply stunning landscaped al fresco garden area.
• The Retreat @ The Inn – A bespoke holiday home development (Opened 2022) with 4 x 2 en-suite bedroom holiday homes : Approved PP for an additional 4 holiday homes (East Lindsey District Council Ref: N/088/01730/18) and space for another 2 (STPP).
• Stunning and enclosed landscaped Al fresco garden area (circa 75+) with a winding gravel and paved pathway around covered pergolas, assorted rattan and wooden garden furniture and a central tiered water feature ; Grassed enclosed garden area with wooden picnic benches and children’s play equipment ; Patron’s car park for circa 40+ cars.
• Fully equipped commercial catering kitchen.
• 5 double bedrooms (1 being en-suite) owner’s accommodation with private access.
• Advised turnover circa £263,340 (Inc. VAT) for 48 weeks only during year ending 5th April 2024 with exceptional profits and a sales split circa: 45% Food sales ; 30% Wet sales ; The Retreat 25%.

Location

This delightful unopposed inn is situated in the lovely village of Hundleby set in the South Lincolnshire Wolds in a conservation area and area of outstanding natural beauty. The village itself has only a pub and a church however the historic market town of Spilsby is only 1 mile away where many local shops, supermarkets, schools and facilities can be found. The inn is highly popular and experiences good levels of repeat trade emanating from not only the holiday home development at the rear but also the surrounding and affluent catchment areas, passing tourist trade, golfers, walkers and ramblers. Nearby points of interest include the popular and well-known East coast holiday resort of Skegness, the port of Boston, the bustling market town of Horncastle, Cadwell Park Racetrack and the popular Lincolnshire Aviation Heritage Centre. The historic Cathedral City of Lincoln is also a short and pleasant drive away. The local road networks are very good with the A16 and A52 complimented by a series of other ‘A’ roads providing routes around this stunning county.

THE PROPERTY

This desirable property dates back to around 1824 and sits on a circa 2-acre plot (not measured). Refurbished to an exceptional standard and bursting with character and charm throughout the property is of fully rendered brick construction and sits beneath a pitched, slate apex roof. Entrances to the front and side provide access to all the trading areas. These consist of:

Bar area (circa 26+ plus standing) is a cosy room with a warm and welcoming atmosphere. Loose tables and assorted chairs are complimented by scatter cushion covered upholstered perimeter bench seating sitting on a fully carpeted floor beneath exposed wooden beams to the ceiling. The room has attractive modern furnishings, wood panelled walls and an exposed brick-built fireplace with built in log burner. There is also a well-presented bar server of wood construction with 3 cask ale hand pulls.

Dining Room (circa 44 covers) leads off from the bar area and is a multi-use room predominantly used for dining but also able to facilitate functions, weddings and parties etc. Loose tables and chairs all sit on an attractive Karndean laminate effect floor and are able to be laid out as required and to suit the occasion. This highly attractive room has sash windows and high ceilings, a coffee service station, dessert fridge and a servery room leading off with carvery units. This area is used for the highly popular Sunday carvery and further commercial catering equipment enables the preparation and presentation of buffet and function/party food. The room also has an exposed brick-built fireplace with built-in log burner and to one end are concertina doors that lead out onto the stunning rear al fresco garden area.

There is a fully equipped commercial Catering Kitchen with stainless steel appliances and surfaces (equipment not tested) with wash up and prep area. Below Ground floor Beer Cellar with python system, pumps, remote and cask tilts.

Ladies and Gents WC’s.

CCTV internal and external.

OWNERS ACCOMMODATION

The owner’s accommodation is located on the ground and 1st floors and has private access. This briefly consists of: 5 double bedrooms (1 being en-suite), Lounge, 2 shower rooms and bathroom with laundry. There is a private garage and 2 brick built storage areas.

LETTING ACCOMMODATION

THE RETREAT @ THE INN

To the rear of the al fresco garden and children’s garden/play area is a bespoke Holiday Home Development (opened 2022) with 4 x 2 ensuite bedroom holiday homes with decked areas and 2 are dog friendly with enclosed grassed garden areas. There is approved planning permission in place (Ref: N/088/01730/18) for an additional 4 holiday homes (Bases already in place with 3 able to hold 3-bedroom holiday homes). There is also space within the boundary for another 2 homes as well (STPP).

EXTERNAL

To the rear of the property is a stunning designed and landscaped al fresco garden area (circa 75+ plus standing) with festoon and solar lighting and covered pergola areas. These are all set around a winding gravel and slabbed pathway with a central tiered water feature, garden ornaments and statues, colourful pots/planters and established shrubbery borders. Assorted rattan and wooden garden furniture are located in snug style areas throughout giving the feel of privacy whilst at the same time creating a fabulous environment to spend time with family or friends. Beyond the garden is an enclosed grassed garden area with wooden picnic benches, children’s wooden play equipment and even a sand pit. The patron’s spacious gravel car park is to the side of the property and has space for circa 40+ 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:

Sun – Thurs 11am to 11pm

Fri/Sat 11am to midnight

Current opening hours are

Mon/Tues/Weds Closed

Thurs/Fri 4pm to 11pm

Sat 12 noon to 11pm

Sunday 12 noon to 6pm

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) or as a new 3-year non-renewable, partial repair Tenancy Agreement as follows:

1. No ingoing premium however the trade fixtures and fittings will be required to be purchased by the ingoing tenant at valuation carried out by a professional chattels valuer.

2. The initial annual rent will be £25,000 (with buildings insurance in addition).

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

4. Rent payable monthly in advance.

5. Deposit equivalent of 3 month’s rent.

6. Free of all brewery and supply ties.

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

8. Satisfactory references, a DBS certificate and a business plan will be required on behalf of our vendor client.

9. An ‘Option to Purchase’ clause would be included within the tenancy agreement, to enable the tenant to subsequently purchase the freehold element at full asking price (less the consideration made initially for the fixtures and fittings) and at any time during the agreement with Guy Simmonds again acting as the agent for our vendor client.

We are advised that at the end of the term, the Tenancy Agreement (not seen by Guy Simmonds) will not be renewable and is therefore contracted out of the Landlord & Tenant Act 1954.

We are advised that all available mains services are connected (no services tested). Business rates payable are advised as being TBC per annum – currently under revaluation and awaiting outcome.

THE BUSINESS

The current owners purchased the freehold property in 2007 and over the past 17+ years have created a desirable profitable business offering home-made traditional pub food, a selection of drinks & comfortable holiday home accommodation provided to a loyal, repeat and desirable clientele. The business is currently operated by the owners’ assisted by circa 2 part time/casual members of staff. After many years within the industry our vendor clients are now looking to retire in order to be able to take life at a more leisurely pace. The business sits at the heart of the local community and not only attracts holidaymakers, regulars and the customers visiting for the popular Sunday carvery but also caters for wedding receptions, funerals, christenings, functions and parties. We are advised that accounts declare a turnover of circa £263,340 (incl. vat) to yr end April 2024 achieved on a trade split of 45% Food ; 30% Wet ; 25% The Retreat with trade still in growth YOY. New owners could continue to operate the business using the same successful formula or they may wish to take the business to the next level. In our opinion this could be achieved by extending the opening hours and the introduction of the additional 4 or 6 (STPP) holiday homes.

Further info: www.thehundlebyinn.co.uk and www.theretreatattheinn.co.uk

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 Richard Fletcher on 07865 348375 or Guy Simmonds on 01332-865112 or by emailing sales@guysimmonds.co.uk

Details prepared May 2024