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Essex

£450,000

Business rates & charges may apply

Guy Simmonds Business Transfers Limited, National Licensed Property
SIZE

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SECTOR

Pub for sale

Description

Ref 8374 FREEHOLD


A HIGHLY IMPRESSIVE CAMRA AWARD WINNING REAL ALE COMMUNITY INN OFFERED FOR SALE EITHER FREEHOLD OR ON A NEW 10 YEAR FREE OF TIE LEASE SITUATED IN THE HISTORIC MARKET TOWN OF COLCHESTER, ESSEX



* Imposing and substantial award winning community inn situated in the prime location of Colchester.
* Traditional Public Bar (circa 30+), relaxing Lounge Bar (circa 30+), versatile Function Room (circa 30).
* Impressive 2 Bedroomed Owner's Accommodation.
* Well-equipped Commercial Catering Kitchen.
* Enclosed Beer Garden and Patron's parking facilities (circa 2 cars).
* Trade split circa 90% wet and 10% food. Undoubted potential for a catering/functions orientated operator.
* Offered on NEW PRIVATE FREE-OF-TIE 10 YEAR LEASE or FREEHOLD OPTION.



A ONCE IN A LIFETIME OPPORTUNITY TO PROCURE A WELL ESTABLISHED BUSINESS AND HOME OFFERING MASSIVE GROWTH POTENTIAL


LOCATION
This outstanding business is located in the centre of the highly desirable and densely populated historic town of Colchester and can be easily reached from the A12. Situated in the heart of the commuter belt and also having excellent road communications providing easy access to the A12, M25, M11, M23, A1(M) and M1 motorways making this superb location an extremely popular commuter area for the major motorways and the major international airports of Heathrow, Gatwick, Stansted and Luton. Colchester is also within close proximity to the Harwich and Parkeston Ferry terminal, bringing an abundance of visitors and tourists from Holland and Denmark all year round. Colchester is also situated close to Braintree, Ipswich, Chelmsford, Felixstowe and Clacton On Sea making this traditional community inn ideally situated to draw trade from the nearby surrounding towns and villages and has an excellent level of passing and repeat trade and is also well serviced by local schools, shops and amenities. A compelling trade opportunity.

THE PROPERTY
Entrances at the both sides leading into the Public Bar and the Lounge Bar.

Public Bar (circa 30+) is a traditional room having a feature return bar servery with a solid polished counter and a matching mirrored back fitting with trade optics and refrigerated bottle coolers (not tested) which is complemented by a good range of polished tables, upholstered chairs, mini stools and upholstered bar stools. Adding to the charm and character of the room is the feature fireplace with an inset log burner, the solid oak floor and the part panelled walls.

Lounge Bar (circa 30+) is a relaxing room having a feature return bar servery with a solid polished counter and a matching mirrored back fitting with shelving which is complemented by an eclectic range of solid polished tables, upholstered chairs, pew style seating and bar chairs. Adding to the charm and character of the room is the feature open fireplace and the part oak floor. Access to the Beer Garden.

Function Room (circa 30) is a versatile room ideal for private parties and wakes etc and is well furnished with solid polished tables and chairs. The room has a vaulted ceiling and a solid oak floor. Sliding doors giving access to a lovely covered seating area.

Catering facilities (situated on the 1st floor) include a well-equipped Commercial Kitchen with stainless steel appliances and preparation surfaces (appliances not tested). There is also a wash-up room. Stock Room/Office.
Lower Ground Floor Cellar with dray drop, pumps, pythons x2, tilt racks and cooler.

Ladies and Gents W.C's

OWNER'S ACCOMMODATION
Situated on the 1st floor, being of a good size and presented in good decorative order briefly comprises: 2 bedrooms, lounge and bathroom.

EXTERNAL
There is an enclosed Beer Garden furnished with timber picnic benches. There is also a covered designated smoking area with barrel racks used for beer festivals and brick built barbeque. There is also an additional covered seating area with tables and chairs (adjacent the Function Room). Patron's parking facilities for circa 2 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:
Monday - Thursday 9.00 am - 11.00 pm
Friday & Saturday - 9.00 am - Midnight
Sunday - 9.00 am - 11.00 pm
The current opening hours are as follows:
Sunday - Thursday - Midday - 11.00pm
Friday & Saturday - Midday - Midnight
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 highly favourable 10 year Private FRI Lease Agreement as follows:
1. The asking premium will be £60,000.
2. The initial annual rent will be £25,000
3. The annual rental 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 month's rent.
6. Lease assignable after initial 2-year period.
7. Free of all brewery and supply ties.
8. Each party responsible for own legal costs relating to the transaction.
9. Satisfactory references will be required on behalf of our vendor client.
10. 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 the inn benefits from all mains services (services not tested). Business rates payable are advised as being £0 per annum.

THE BUSINESS
Our vendor clients operate this highly successful business on a 'hands-off' basis with the assistance of a selection of full time and part time/casual members of staff. Trade is currently derived from circa 90% wet and 10% food sales, thereby providing immense scope for a new hands-on operator partnership with previous experience of running a catering/functions orientated operation to take this business to even greater heights by focussing on a strategic and extensive marketing campaign to further promote the premises.
This is truly an incredible opportunity for either an owner operator to continue to build the business or for a commercial investor to enhance their existing portfolio.
The asking price reflects the current trading foundation, the location and quality of fixtures and fitting, and of course not forgetting that this is an extremely substantial freehold property.
THERE IS NO ACCOUNTING INFORMATION AVAILABLE.

Viewing appointments must be made via Guy Simmonds.
Details Prepared: March 2020

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.

About Guy Simmonds Business Transfers Limited, National Licensed Property

Coppice Farm, Ashby Road Melbourne, DE73 8BJ

Guy Simmonds Business Transfers Limited, National Licensed Property

Guy Simmonds have been established for over 30 years specialising in the sale of quality Freehold and Leasehold Licensed businesses - including pubs, inns, restaurants and hotels.

Guy Simmonds are leading NATIONAL Licensed Property Agents and consequently offer for sale and lease quality lifestyle licensed businesses throughout the whole of England and Wales.

For those of you looking for a change of career and lifestyle, an inn/restaurant can offer an enviable and f

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Notes

These notes are private, only you can see them.

Disclaimer - Property reference 8374. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Guy Simmonds Business Transfers Limited, National Licensed Property. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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