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Property Listing Details

Pub/bar for sale

Parsons Bank, Powys: Llanfair Caereinion SY21

£25,000

(£7.67/sq. ft)

Features

  • floor area3,261 sq. ft

Listing view statistics

Last 30 days: 27 page views

Since listed: 51 page views

Description

Ref: 8063 leasehold

Traditional & renowned stone built 19th Century Freehold or Free of Tie Inn set within the quaint town of Llanfair Caereinion, offering considerable scope

• Central location in the heart of this quaint Welsh town.
• Traditional Lounge Bar (circa 40) offering wood floors, beams, pool table, darts throw and T.V’s.
• Characterful Public Bar (circa 20) benefits from quarry tiled floors, lovely, open fireplace, beams and bar servery.
• Restaurant (circa 30) offers carpeted flooring, wood panelling and carvery servery area.
• Pleasant Lawned Beer Garden (circa 50) & Patio Terrace Area (circa 30) with bbq and Log Burner.
• Commercial Catering Kitchen & Car Park for 25 cars
• Spacious 3 Bedroom Living Accommodation.
• We are advised turnover for y/e 03/17 is £240,469 (inc VAT) with a trade split of 95% wet and 5% dry.
• Freehold or Lucrative ‘Free of Tie’ Lease with an option to purchase and a rent of £20k pa.
Freehold/free of tie leasehold inn with huge scope to introduce food

location


This centrally located Freehold or ‘Free of Tie’ Leasehold Inn is positioned on Parsons Bank, in the heart of Llanfair Caereinion.
Llanfair Caereinion is a quaint town in Powys.
The town sits on the River Banwy (Einon), around 8 miles west of Welshpool.
According to the 2011 census, the town has a population of 1,810 residents.
The town is built upon the site of an old Roman Fort.
Llanfair is most famous for being a terminus of the Welshpool and Llanfair Light Railway.
Llanfair Caereinion is in the heart of the old Montgomeryshire’s Bonwy Valley and is home to both Llanfair Carnival and Llanfair Show.
The town has a variety of amenities including shops, school etc.
The property

This traditional freehold/’free of tie’ Inn with Restaurant is built of stone construction, under a pitched, tiled roof, occupying an excellent prominent position in the heart of this quaint town.

The Lounge Bar (circa 40) is a traditional bar area offering wood flooring, wood panelling, beamed ceilings, pool table, darts throw, T.V’s and projector screen. This area is home to 3 Dominos Teams, Football Team, Darts Team and a Monthly Quiz.

The Public Bar (circa 20) is full of character benefitting from quarry tiled floors, lovely open fireplace, beams, bar servery and wood panelling.

The Restaurant (circa 30) is located to the rear of the building and offers a pleasant dining experience away from the main bar areas. The room offers carpeted flooring, wood panelling, quality furnishings and a carvery servery unit.

Ladies and Gents W.C.’s.

There is a Commercial Catering Kitchen with stainless steel appliances and work surfaces (appliances not tested).

There is a Ground Floor Cellar with python and cooler systems.

Owner’s accommodation
Located on the 1st Floor and briefly comprising: Two Double Bedrooms, Single Bedroom, Lounge, Kitchen-Diner and Bathroom.
External

To the rear of the property is a Lovely Enclosed Lawned Beer Garden offering seating for approx. 50 customers and ideal for outdoor events.
To the front of the building is a Covered Patio Area with bbq and Log Burner (circa 30).
The business also offers a Large Car Park for 25 cars.
Trading & licensing

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 – Thursday 11am – 11pm
Fri – Sat 11am – Midnight

Current opening hours are:

Mon – Thursday Midday – 11pm
Fri – Sat Midday – Midnight
Sunday 11am – 10.30am

nb. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the ncplh Qualification in readiness for their intended operation of the Public House.
General remarks

The business is offered for sale as a freehold (although we have not had sight of the title deeds) or as a new highly favourable 10 year Private Fri Lease Agreement as follows:
1. The asking premium will be £25,000.
2. The initial rent will be £20,000.
3. The annual rent is simply rpi linked to inflation every 3 years, hence no market rent reviews.
4. Rent payable monthly in advance.
5. Deposit equivalent of 3 months’ rent.
6. Lease assignable after initial 2 year period.
7. Free of all brewery and supply ties.
8. Each party responsible for own legal fees relating to the transaction.
9. We are advised that our vendor client would be agreeable to insert an ‘Option to Purchase’ clause within the lease agreement, to enable the lessee to subsequently purchase the freehold element at a price to be mutually agreed.
We are advised that at the end of the term, the Lease (not seen by Guy Simmonds) should be renewable with no further premium – subject to the provision of the Landlord & Tenant Act 1954. We are advised that the inn benefits from lpg and all other mains services and is heated by oil central heating (no services seen or tested). Business rates are advised as currently being £5,500 payable.
The business

The current owner has been trading the business for 25 years and offers a solid drinking trade with a superb opportunity to introduce further catering options.
This offers new operators the chance to put their own stamp on the food and continue to benefit from the excellent wet trade.
We are advised turnover for y/e 03/17 is £240,469 (inc VAT) with a trade split of 95% wet and 5% dry with a recon net profit of £42,000 (£22,000 after paying the rent on the lease option).
This business was viewed by Marc Blackford who would be delighted to discuss further details.

Details Prepared: March 2018

Note: Size quoted is usually the Total Useful Floor Area taken from the EPC and is for guidance purposes only and no responsibility is assumed by Guy Simmonds for the accuracy.

Viewing: All appointments must be made through Guy Simmonds. Please note that these Sales Particulars are issued on the strict basis that all negotiations, viewings and contacts in connection with this business are conducted through Guy Simmonds who are appointed by the vendor to act under a Sole Selling Rights agreement with total confidentiality. Any breach of these terms may make you liable in law to litigation and damages. Under no circumstances must you approach the owner direct without a formal appointment or disclose to other customers and staff that the Premises are for sale.

Finance for purchasing A licensed property: We are in constant touch with a leading finance broker who specialises in arranging Business Finance for Licensed Properties. Whether you are purchasing a Licensed Property through ourselves, or another agent, we will be pleased to contact on your behalf our specialist who can arrange the necessary Finance Package for you at preferential rates. Please telephone for free and no obligation advice with regards to financing a Business.

Guy Simmonds for themselves and for the vendors or lessors of this property and/or business whose agents they are give notice that:-
(I) These particulars are a general outline for the guidance of intending purchasers (or lessees) and do not constitute an offer or contract, nor any part of an offer or contract.
(II) All descriptions, dimensions, distances, maps/plans, references to condition, trading figures and other items in these particulars are given as a guide and no responsibility is assumed by Guy Simmonds for the accuracy of individual items. Intending purchasers (or lessees) should not rely on them as statements of representations of fact and should satisfy themselves as to the correctness of each item by making independent enquiries.
(III) Intending purchasers (or lessees) should make their own independent enquiries regarding the use of the property, necessary permissions for use and occupations, potential uses and any other matters affecting the property prior to purchase.
(IV) Guy Simmonds do not make or give whether in these particulars, during negotiations or otherwise, any representation or warranty in relation to this property. No responsibility is taken by Guy Simmonds for any error, omission or mis-statement in these particulars. Guy Simmonds do not warrant the accuracy of any accountancy information supplied and purchasers are advised to take independent advice in order to satisfy themselves.
(V) Guy Simmonds are unable to give any warranty as to the working order of any apparatus, equipment, fittings or services associated with the premises and therefore, cannot verify they are in full working order. Purchasers are strongly advised to obtain specialist reports prior to exchange of contracts in order to satisfy themselves.
(VI) All statements and descriptions are made without responsibility or warranty by Guy Simmonds, the vendors or lessees. Neither do Guy Simmonds nor the vendors/lessees hold ourselves responsible for any expenses whatsoever incurred by applicants inspecting Businesses which may be sold or withdrawn, to include travelling, valuation/survey, legal fees etc.
(VII) No person in the employment of Guy Simmonds has any authority to make or give any representation or warranty whatever in relation to this property.
(VIII) It should not be assumed that the contents of any photographs are included in the sale.
(IX) All prices quoted are excluding stock at valuation.

Floorplan

No floorplan available

Contact the agent

Map

Local map of the area

Map and Street View Map showing location of property

Local Amenities

  • " role="presentation" aria-hidden="true"> Ysgol Gynradd Llanfair Caereinion 0.2 miles
  • " role="presentation" aria-hidden="true"> Ysgol Uwchradd Caereinion High School 0.2 miles
  • " role="presentation" aria-hidden="true"> Welshpool 7.8 miles
  • " role="presentation" aria-hidden="true"> Newtown (Powys) 9.4 miles

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Property descriptions and related information displayed on this page are marketing materials provided by Guy Simmonds. 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 Guy Simmonds for full details and further information.