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CINDERFORD, GLOUCESTERSHIRE

Ref: K4471F

£330,000

Freehold
(Proof of finance or credit line will be required.)

AN UNUSUAL TOWN CENTRE PUBLIC HOUSE WITH A HIGH STREET LOCATION WHICH ENJOYS ALL OF THE ADVANTAGES AND HAS NONE OF THE DRAWBACKS

p(item3.) THIS TOWN CENTRE PUB’S TRADITIONAL FAÇADE HIDES ITS HIDDEN DEPTHS A GOLDEN OPPORTUNITY TO BUILD ON ITS PRESENT SUCCESS OFFERED FOR £330,000 FREEHOLD TO INCLUDE FIXTURES AND FITTINGS, GOODWILL PLUS S.A.V.

  • Sales of £208,799 inc vat on 100% wet, returning a reconstituted net profit of £62,000
  • Open plan venue style layout with comfortable sofa seating in the bar area for 20, and 20 at traditional tables plus considerable standing room. Pool table in its own area
  • Owners spacious living accommodation with 4 bedrooms
  • Own OFF STREET PARKING expandable to allow parking for up to 20 cars
  • Newly built fully enclosed “in town” heated patio area
  • Plenty of scope for business growth along with property development

Location(GL14 2SL)

Having an almost unopposed dominance of the High Street of this Market town the business is uniquely placed to capitalise on its position less than 50m from the “Triangle”, which is the centre of CINDERFORD where all the local shops and business services are based. CINDERFORD is set on the eastern edge of the FOREST OF DEAN in Gloucestershire. Just a few minutes walk from the town will find you in the forest. Cinderford has a population of around 7500. The local Brewery, The Freeminer Brewery, which is named after the ancient right to mine coal in the Forest of Dean, could be a good local source of cask beers, which are at the moment absent from the Lion.

Property Description

The property is of traditional brick construction with rendered finish topped with a traditional slate roof. Rear extension to the pub is brick built and render with flat roof.
Entrance is from the High street into the main open plan bar area which has sofa and coffee table seating adjacent to the bar which has bar seating. Flooring is of stained wood with slate tiling to bar frontage. The bar is of timber and brushed aluminium panels giving it a modern bar appearance and this is echoed by the modern back fittings and counter fonts. A ceiling projector is used on a wall to give an edge to the entertainment and a sound system is incorporated. Towards the back of the “L” shaped room is the pool table which is separated from the main area and has its own monitor. A main spacious passageway leads to the toilets, store rooms and access to the underground cellar, which is a traditional vaulted ceiling and blue brick thrawls for cask ales. The main passage also affords access to the private accommodation and to the enclosed garden patio area. There are three linked rooms presently used as storage but could be converted with little effort into trading space. The external façade of the pub does not give any clues to what lies within

Owners Accommodation

Located on the first floor this extensive flat with four good sized bedrooms also has a large kitchen diner, lounge and bathroom. The present Licensee has not prioritized the development of the private quarters and it offers a blank canvas for a new owner to personalize

Externals.

Access to the rear of the property is via an old coaching style archway which is also the access to a public car park above and behind the Pub. At present four or five cars can be parked but with the removal of an old empty outbuilding approximately 20 cars could be accommodated. With the car park complete and the public car park only 50 meters away the Town centre parking restrictions usually experienced by this type of property are negated. There is a small grassed area at high level which could be accessed through the enclosed Patio area. The Patio is fully enclosed and sheltered and has picnic style bench seating for 40+ standing. It has large umbrellas, patio heater and wall lighting. It is still to be planted and when complete will afford an intimate outside area that enhances the Pub.

Premises Licence

We are advised that the business currently trades approximately 59 hours per week.
The Premises license allows for a 7am opening every day until 0.30am Monday & Tuesday, and until 1.00am on Thursdays, 2.30am on Fridays & Saturdays and until 1.30am on Sundays. Actual trading hours at the moment are from 5.30pm-11.00pm Monday to Thursday, 1.00pm-1.00am Friday,12.00 noon-1.00am Saturday and 12.00 noon till 11.00pm Sunday. There is a requirement on the licence for CCTV (installed) and doormen in attendance when opening after 1.00am. Prospective purchasers are advised to fully acquaint themselves with all conditions of the Premises licence. A personal licence will be required and our training associates can assist with this for you. Present opening patterns leave plenty of scope to expand the market offering of the present operator who has concentrated on the night time economy.

Tenure

Currently the business is held on a free of tie lease however we are able to offer the property and business totally freehold and with VP (vacant possession).

Services

We are advised that the business has the benefit of having all mains services connected to the building. Business rates payable are a reasonable £1,600 with water rates of £1,300.

The Business

The business is at present run under a lease but is for sale as freehold with vacant possession. The present operator has traded at the Pub for 4 years and has provided trading accounts to Sept 2007 show a turnover of £208,799 inc, vat with a reconstituted net profit of £62,000.and a wet only GP of 57%. The pub has 100% wet trade. The business at the moment enjoys a very healthy 200+ barrels per year, all keg beers. The flourishing real ale market has not been accommodated here and is wide open for development. Presently, little use is made of potential early morning or lunchtime trade in the High Street and this could be a large untapped market. Although there is no catering kitchen at the moment there is considerable room and scope to include one. With future investment it could rise to the next level building on its healthy present wet trade.

A HEALTHY, PROFITABLE BUSINESS WITH UNUSED POTENTIAL FOR FUTURE DEVELOPMENT AND EXPANSION. DO NOT BE PUT OFF BY ITS TRADITIONAL EXTERIOR THERES MORE BEHIND THE DOORS THAN YOU THINK.

Our panel of financial experts are here to help; call for referrals: 01530 414140.

The Property was viewed by Ken Nason who will be delighted to discuss the opportunity with you 7 days a week on 01886 880952.

Viewings appointments can be made via one of GA-SELECT Business Managers on 01530 41 41 40 who can also refer you to experienced solicitors, accountants, and other trade experts.

SOLE SELLING RIGHTS:

Attention: These Sale Particulars are issued by way of the "web" or hard copy on the understanding that all VIEWINGS, CONTRACTS and negotiation in connection with the business or property are conducted through GA SELECT or their agents who are appointed by the vendor under a SOLE SELLING RIGHTS AGREEMENT with total CONFIDENTIALITY. Under no circumstances must you approach the Owner directly without a formal appointment or disclose to other customers, staff or suppliers that the business is for sale. Failure to comply with these terms may make you liable in law to damages.

BUSINESS FINANCE for PURCHASE of a LICENSED PROPERTY: GA SELECT will be pleased to contact our ASSOCIATE COMMERCIAL FINANCE SPECIALIST on your behalf to engineer the necessary finance package for you at preferential rates and for a period of up to 30 years. Our Business managers will make the contact on your behalf and initial opinions will be offered by our associate at no charge. Alternatively talk to GRAHAM ALLMAN for advice who is licensed by the OFT to give such advice; License No 520042.

VIEWING: ALL APPOINTMENTS must be made by GA SELECT by calling 01530 41 41 40. Our business managers will request your purchasing position then confirm the viewing arrangements back to you. Your viewing will be followed up by a call from either a Business Manger or Sales Director. All properties are left on our web site until contracts have completed.

PROPERTY MISDISCRIPTIONS ACT: GA SELECT give notice that for themselves, their associates, vendors or lessees of the property or business that…

1) These particulars are intended as a guidance for the prospective purchaser and do not constitute or form part of any offer or contract.
2) All descriptions which include distances, plans, dimensions, demographics, or opinion on potential trade and profits are along with all other items within these particulars or given verbally by GA SELECT or its associates, are given in good faith as a guide and no responsibility is assume or accepted by GA SELECT. For there accuracy.
3) GA SELECT do not make or give within these particulars or at any other occasion any representation or warranty in relation to the condition or suitability of the property or its fixtures and fittings. Like wise for any misstatement, omission or error. Independent advice is recommended within all issues relating to the purchase and no warranty is offered by GA SELECT for the working condition or legal positions.
4) Prospective purchasers should satisfy themselves on the suitability of the conditions within the Premises Licence and their ability to obtain a Personal License.
5) Intending purchasers should make their own independent enquiries of fact, accounting information, the use of the property, permissions and potential uses and licenses including any other matters affecting the business including items within 2-3-4.
6) Viewings are totally at the clients risk relating to HEALTH & SAFETY LAW or risks within any act related to the business. GA SELECT nor its vendors hold ourselves responsible for any expenses in any circumstances whatsoever incurred by applicants inspecting a business or property which may be sold or withdrawn from sale or for any other reason, to include traveling expenses, survey, valuations, legal fees etc.
7) It must not be assumed that photographs are current or untouched nor that contents within them are included in the sale.

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