Ref: 7957 leasehold
Superbly appointed highly profitable inn with letting rooms located within the picturesque village of oxenholme on the outskirts of the lake district national park in cumbria
Attractive location within the picturesque village of Oxenholme, close to Kendal and the Lake District National Park.
Well-presented Bar/Lounge areas (circa 100) carpeted throughout with feature stone fireplaces.
5 En-Suite Letting Rooms.
Potential to add 2 additional letting rooms (STPP).
Attractive Beer Garden (circa 100) with impressive range of children's play equipment.
Potential to introduce caravan/camping facilities (STPP).
Owners flat with 3 Double Bedrooms.
Advised turnover y/e June 2017 in excess of £850,000 (inc VAT), declaring in excess of £470,000 gross profits, culminating in substantial recon net profit.
Trade split approx. 43% wet / 46% Food / 11% Accom.
Partially tied Lease Agreement with the option of becoming 'Free of Tie' subject to negotiation of terms.
A truly superb profitable business in A sought after location
The business is located in the South Lakeland District on the outskirts of The Lake District in the picturesque village of Oxenholme, close to Kendal and within easy reach of the M6. Oxenholme is best known for Oxenholme Lake District railway station on the West Coast Main Line. The lakes of Windermere and Coniston are easily accessible. The Lake District is a designated unesco World Heritage Site and is a popular holiday destination located entirely within the county of Cumbria. The National Park benefits from 23 million day visits per annum. Windermere Lake steamers are Cumbria's most popular charging tourist attraction with around 1.35 million paying customers each year.
The property is well presented throughout and furnished to a high standard.
The main trading areas are well laid out and presented to a high standard. Accessed from the front and rear, comprising Bar and Lounge areas that are connected. The area is served by a central bar servery and benefits from carpeted and wooden flooring throughout. It is extremely welcoming and full of character with log burners.
The tables and chairs currently extend to 100 covers and are well positioned throughout the bar and lounge. Seating is provided by free standing chairs and tables.
The bar servery runs between the bar and lounge areas and has a good view of the seating areas.
Separate Gents and Ladies toilets are accessed from the main bar area.
To the rear of the bar is the Commercial Kitchen with stainless steel preparation area, and an extensive range of appliances (appliances not tested).
Self-contained flat comprising 3 Double Bedrooms. Kitchen, Lounge and Bathroom/WC. Next to the Owner's Accommodation are 2 en-suite bedrooms, with potential to let after upgrade.
On the 3rd Floor is an Office, a Store Room & Staff Room/4th Bedroom.
The business benefits from 5 En-Suite Letting Bedrooms, with TV, hairdryers and tea/coffee making facilities. The Letting Rooms comprise 2 x Double, 2 x Family (double and 2x single) and 1 x Family (double and 1 single).
There is a large enclosed beer garden to the rear that offers a range of children's play equipment. There is wooden seating for circa 100.
There is a large car park accommodating circa 50 cars to the side of the property.
There is potential to charge for car park spaces to the Railway Station (STPP).
The business benefits from additional land that has potential for Caravan/Camping facilities to be introduced (STPP).
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:
Mon to Sun 11am to 1am
Current opening hours are:
Mon to Fri 12 noon to 11.00pm
Saturday 11.30am to 12.30am
Sunday 11.00am to 11.00pm
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.
The business is offered for sale as a lease assignment with approximately 3 years remaining of the Enterprise Inns full repairing and insuring, renewable agreement.
We are advised that Enterprise Inns have expressed a willingness to offer a Free of Tie Lease subject to negotiation of Terms.
We are advised that the inn is free of tie for wines, spirits, soft drinks and one real ale pump. We are informed that the rent is currently £65,000 per
annum. 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 public house benefits from all mains services with calor gas and oil fired central heating (no services seen or tested). Business rates payable are advised as currently being circa £24,000 per annum.
The current owners purchased the business in 2006 and have built on the excellent reputation it had as a quality venue offering high quality food and drinks in superb surroundings.
We are advised that turnover for the trading period to June 2017 is in excess of £850,000 (inc VAT), declaring in excess of £470,000 gross profits, culminating in substantial reconstituted net profit. The trade split is approximately 43% wet, 46% Food and 11% accommodation.
The business is currently thriving and extremely profitable, and new owner operators may wish to continue in this highly successful format. However we feel that there is clearly further scope to expand the letting accommodation (STPP) and explore the caravan and camping potential. Also, depending upon new operators' individual circumstances, they may wish to reduce wage costs (if required) thus further increasing the existing substantial net profits.
Accounting information will be made available to interested parties after viewing.
This business was viewed by Lee Davy who would be delighted to discuss further details.
Viewing appointments must be made by contacting Guy Simmonds.
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.
If size stated =1m2, this is because no measurements are available at this time.
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.