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Property Listing Details

Pub/bar for sale

Leicester Road, Loughborough LE11

  • Sold subject to contract

£29,999

Property details

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Last 30 days: 1 page view

Since listed: 160 page views

Description

Business
The Royal Oak has been operated by the current vendors for over 11 years and has established itself within the community and surrounding area.

The Royal Oak is currently 100% wet led and has a loyal following amongst the pool, darts and dominoes sector, playing host to several teams active in leagues across the town as well as two local football teams.

The site sits on the edge of the town and is located just at the top of the real ale circuit which circumnavigates the top end of this area and therefore, presents an opportunity for a new operator to tap into this sector further.

The pub could also present a food offering, opening earlier and introducing a range of staples such as pies and stews as well as traditional pub favourites. The site has the benefit of an outside trading area and car park to the rear which due to the availability of ample parking to the front of the site could easily be utilised further for bbq’s and beer festivals.

The current owner is looking to get a partial tie from the brewery (which is currently fully tied) on wines, spirits and minerals which if someone was going to offer food would be great.

The size of The Royal Oak is deceiving from the front and the internal floor space is set out across two levels with the top end being an ideal location for bands which often play here. The business also has the benefit of BT sports and therefore, also attracts sports fans from various genres to the site.

The Royal Oak is in an ideal location and represents a rare and exciting opportunity for a new operator to take the site to the next level which it clearly has the capacity to do. Coupled with spacious living accommodation and a good sized outside trading opportunity this is a business opportunity that requires serious consideration.

Location
The Royal Oak is situated along Leicester Road at the entrance to the town as you travel in from Leicester City.

Loughborough is a town in the Charnwood borough of Leicestershire, and is the seat of Charnwood Borough Council and home to Loughborough University which is currently in the league of top 10 Universities in the country and has approximately 16,000 students.

The town is close to the Nottinghamshire border and is within a short distance of locations such as Nottingham, the East Midlands Airport and Derby.

Premises
Detached premises with spacious outside trading area and carpark.

Equipment includes: -
All tables and chairs
Shelving
Fixtures and fittings throughout
2 x Fruit machines
Pool table
Wall mounted juke box
2 x Flat screen Tv’s
Outside seating and tables

Fitted kitchen equipment: -
Extractor
Cooker

The living accommodation comprises 2 double bedrooms, plus a loft conversion with en-suite bathroom, separate bathroom, kitchen and living room.

Tenure
We are advised the business is being sold as a Leasehold opportunity.

9 years left on the current lease as of 2017, landlord is Silver Star.

The current rent passing at £27,000 per annum.

The vendor is currently in negotiations to acquire a partial tie with the brewery.

Hours
The opening hours are currently:

Monday to Friday: 4pm to 11pm
Saturday: 12pm to 12am
Sunday: 12pm to 9pm

Staff
The business is being managed by the current vendor with the assistance of 1 part time staff member.

Financial Profile
We are advised the business is currently turning over in the region of £175,000 per annum, with a gross profit of 51%. The site is currently 100% wet led trade.

Business rates are currently £10,000 per annum under the current model.

Map & Nearby

Local Amenities

  • Loughborough 0.7 miles
  • Barrow-upon-Soar 2.5 miles
  • Fairfield Preparatory School 0.1 miles
  • Cobden Primary School & Community Centre 0.2 miles

Local map of the area

Map and Street View Map showing location of property

Local Amenities

  • Loughborough 0.7 miles
  • Barrow-upon-Soar 2.5 miles
  • Fairfield Preparatory School 0.1 miles
  • Cobden Primary School & Community Centre 0.2 miles
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Property descriptions and related information displayed on this page are marketing materials provided by Hilton Smythe Commercial. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Hilton Smythe Commercial for full details and further information.