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LISSINGTON, LINCS

1st TIME AVAILABLE IN 32 YEARS A UNIQUE QUALITY VILLAGE FREEHOUSE

Ref: G4718L

£49,000

Leasehold FREE OF TIE
(Proof of finance or credit line will be required.)

AWASH WITH CHARM AND CHARACTER DATING BACK TO THE TIMES OF THE SPANISH AMMADA A MOST PLEASING FREEHOUSE AND FAMILY HOME SET IN THE LINCS VILLAGE OF LISSINGTON

A UNIQUE AND RARE OPPORTUNITY OFFERED AT £49,000 NEW FOT LEASE TO INCLUDE FIXTURES AND FITTINGS GOOD WILL + S.A.V. – FREEHOLD OPTION BUILT INTO LEASE

  • Gently trading at clients convenience circa £260,000 pa inc vat 72% Wet – same family owners 32 years
  • English Country Tavern “atmosphere, low original ship beamed Lounge & Dining (40+) – period bar & sep games (36+)
  • Pretty mature gardens (100+) and parking (32)
  • “Gold Standard” blend of history & opportunity
  • Exceptional 4 bed roomed owners accom plus optional 3 bed cottage
  • New private renewable Free of Tie Lease with freehold purchase option

LOCATION (LN3 5AE)

This “benchmark” ancient Inn sits on the B1202 half way between the Popular Horse Racing Market Town of Market Rasen and Wragby, a Wolds Staging and Market Town mentioned in the Domesday Book. The pleasant village of Lissington lies 10 miles North of Medieval Lincoln with its fine “black and white” properties, world renowned Cathedral and University. Recorded as An Ancient Parish it’s Church of St John has Parish Records dating back to the time of Queen Elizabeth 1st in 1562 around the time this property was established as a Coaching Inn on the Lincoln Market Rasen staging route. A settlement has been on this site for many centuries prior to this and its origins are surrounded by myths and misty legends of Saxon Invaders making there way inland to Lincoln from the Humber Estuary. During the English Civil war the region was awash with troops of both persuasion billeting in local hostelries and within the thickets of local woodlands. An area rich in the history of England and a popular sustainable locale to live.

PROPERTY DESCRIPTION

Built originally around 1560 a time when Sir Francis Drake locked swords with the Spanish Armada for the honour of Queen Elizabeth 1st, God and Country (not to mention for his own well being and financial advantage) the property is of washed brick construction under pitched tiled roofs and has been subsequently extended over the centuries. LOUNGE BAR & DINING ROOM (40+) oozes charm and character with low ship beamed ceilings, panelled bow windows, fitted carpeting, fixed and loose seating to assorted polished tables and in the dining area a brick inset fireplace. The two areas can be separated by leaded light folding doors. CENTRAL BAR SERVERY is of reclaimed brick construction with oak supports built into the polished counter top and a bank of REAL ALE WICKETS. A full range of merchandising and trade optics are to the rear. LOCALS BAR & GAMES (36+) is a most pleasing period setting with a large roaring log fire set within a Tudor Brick fireplace. Furnished on a carpeted floor with bar stools, wooden chairs and fixed seating to square bar tables. Views over the gardens are afforded through panelled draped windows. A separate games room with pool table also double as a party room with effect lighting. Double doors lead out to the trade gardens. BEER CELLAR is to ground floor with REAL ALE Stillages and is fully chilled. CATERING KITCHEN is equipped and regularly caters for in excess of 50 to 60 covers. TOILET facilities are provided at several locations in both bar areas.

OWNERS ACCOMMODATION

Our clients have created an exceptional family home over there 32 years of ownership which comprises of 4 double bedrooms, one en-suite, superb lounge, fitted kitchen and modern family bathroom along with office cum study then a private garden.

DETACHED COTTAGE

Available if required, but not conditional with sale of business, is of washed brick construction under pitched tiled roof with bow front windows, comprising of 3 bedrooms, lounge, bathroom and kitchen.

EXTERNALS A mature garden (100+) with access by way of double doors from the games room or with direct access from the side of the property is a “treasure” and a magnet in summer months. Parking is available for 32 vehicles

PREMISES LICENSES

The Premises License allows for the retail of alcohol all week 11 till 11 plus an extra 1 hour for diners. The business does not open Monday am and keeps its kitchen closed until Tuesday , then on opens traditional hours 12 noon till 2.30pm and 6.30pm till 11 pm. This affords plenty of scope to develop the catering business further if so required. A personal license will be required and our training associate can assist with this and other trade related training.

TENURE

We are instructed to offer the property and business for sale as a New Free of Tie Lease of 10 years, FRI, with landlord and tenant act protection and is fully renewable at its end at no further cost. There will be a non assignment period of 2 years. A clause will be included within the lease which will enable the lessee to purchase the freehold during the first 3 year period for a set figure of £499,000. Rent for the three years will be £30,000 discounted in the 1st year to £27,500 pa paid monthly in advance. If the right to purchase the freehold is exercised within 1st two years, £25,000 will be discounted from the freehold price. The Detached Freehold cottage will be made available at £199,000 but is not conditional with sale of business.

SERVICES

We are advised that the business has mains electric, water, septic tank with LPG gas connected.

THE BUSINESS

Our clients have enjoyed a relaxed family life for the past 32 years bringing up their family in a most extraordinary favoured circumstance and are now slowly easing into retirement. Sales over the previous 5 years have averaged £264,535 pa inc vat on a split of 72% Wet to 28% Dry. Barrelage (288 gls) is running at 42 brs Draught, 88 Keg plus composite Wines, Spirits and Minerals.Net profits will be discussed by our clients at official viewings. Bottom line Net Profits for this style of business could show 30% to 35% and we believe that with a new energetic owner sales of £350,000 are within easy reach cascading down to Net Profits in excess of £100,000. Consideration should also be given to the flexibility of the living accommodation, possibly by providing Guest B & B rooms within the main pub or alternatively use the cottage for holiday lettings.

JUST WHAT AN INTERESTING AND UNIQUE OPPORTUNITY THIS IS, A STRONG BUSINESS FOUNDATION WITH UNBRIDLED GROWTH POTENTIAL AND AMIZING FAMILY LIFE STYLE – DO NOT LET IT PASS BY

Accounts information will be made available to interested parties after viewing.

Our finance associates will be pleased to advise and assist in the purchase of this outstanding business.

The Property was viewed by Graham Allman who will be delighted to discuss the opportunity with you 7 days a week on 07765 251 208.

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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