Well established and extremely popular leasehold pub
Turnover in excess of £3,400pw, excellent potential to increase profits
Locally supported pub, enviable trading position
5 bedroom owner’s accommodation, retirement sale, viewing recommended
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Reference - 44767 Description
The business has been under our client’s careful ownership for over 15 years and has established an enviable reputation. The business is situated in North Shields near to Newcastle. North Shields is a town on the north bank of the River Tyne, in the metropolitan borough of North Tyneside, Tyne and Wear in North East England. Historically part of Northumberland, it is located eight miles North East of Newcastle upon Tyne.
The business boasts an enviable customer base and is not only supported locally, but also by passing trade due to its location in the centre of North Shields. Although the business is trading successfully with an annual turnover in excess of £175,000, there is still huge potential to increase revenue with the introduction of food during the week, or letting the bedrooms. The business does provide a Sunday lunch and serves on average 85 Sunday lunches per week.
The owner’s accommodation is located on the upper floor.
The Bell & Bucket provides a warm and friendly environment to customers in comfortable surroundings and presents buyers with an excellent opportunity to purchase a profitable business. Weekly sales
Currently sales average £3,400 approximately. Accounts
Current records and accounts can be inspected when viewing. Trading hours
The property used to be an old fire station. The property is stone built with a slate roof and stands out in its highly visible trading location Restaurant and bar areas
The Bell & Bucket boasts an impressive wooden bar with traditional wooden tables and cushioned chairs, with 22 covers in the main bar area.
To the front of the property is a mezzanine area with 20 covers. Also located on the ground floor is a fully equipped kitchen and we believe most of the equipment to be in good working order. Residential accommodation
The residential accommodation can be found on the upper floor of the property and comprises of a kitchen, a lounge, a family bathroom and 5 double bedrooms. Tenure
We are advised that the property is held on a 20 year lease which commenced in 2006. The annual rent is £21,000 exclusive. Rent reviews are at 5 yearly intervals. With 9 years remaining on lease
We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification. Summary
The sale of The Bell & Bucket presents an excellent opportunity for a lifestyle business located in the North of England. Only now being offered for sale due to the vendors wish to retire, a viewing is recommended.
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