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Pub/bar for sale

£49,995 (£4,644.69/sq. ft)

Royal Standard Place, Nottingham NG1

Pub/bar for sale 1 sq. m*
Interested in this property? Call +44 1332 494756 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property description

Ref 8237 leasehold

thriving unique and highly desirable ‘free of tie’ bar & restaurant located in the affluent popular and historic castle quarter in the heart of the city of nottingham

• Set in the historic castle quarter of Nottingham only a stone’s throw away from the famous castle, a short stroll from the Old Market Square & surrounded by commercial, office & residential buildings.
• Circular delightful open plan Trading Area (100+
covers plus standing) with snug areas, booth seating, chic furnishings and a cherub hand painted ceiling.
• Slabbed spacious Al Fresco Terrace (circa 80+ covers) to rear : Block paved Al Fresco Patio Area to front (circa 20+ covers).
• Fully equipped Commercial Catering Kitchen with 5* eho rating, walk in chiller and dumb waiter.
• Advised turnover circa £381,591 (incl. VAT) to
31st December 2018.
• Trade split of 60% Wet ; 40% Food sales.
• Offered as a highly desirable and brand new ‘Totally Free of Tie’ privately owned renewable lease.

A fantastic opportunity to acquire A brand new ‘free of tie lease’ in A highly sought-after historic city location


Location


This business is located in the immensely popular Castle Quarter of the famous historic city of Nottingham. The whole area is steeped in heritage and is surrounded by offices, residential buildings and several other fine restaurants and licensed properties and also backs on to an affluent well-regarded area known as The Park. The Castle Quarter has been totally re-developed and is fast becoming a sought-after location for businesses, solicitors, commercial office space, residents and students. The new Nottingham University Law Department building is currently being built next door (opening circa August 2019) which will accommodate up to c100 staff and c500 students. The property sits only a stone’s throw from the historic Nottingham Castle that is currently undergoing a £29.4 million redevelopment investment and is also only a short stroll away from the famous Old Market Square. Nottingham is known as one of the best nights out in the UK with a thriving mass of entertainment venues and attracts theatre goers, sports enthusiasts and tourists all year round. Nottingham sits on the M1 motorway and can be approached from junctions 24,25 or 26. The A52 & A46 are also close by also providing easy access to Leicester and Derby.


The property


This unique circular property is of brick-built construction and the premises comprise of the ground and first floors of a landmark building. This building was originally the Jubilee wing of the former General Hospital that originally opened in 1902 to celebrate Queen Victoria’s Jubilee. The property is immaculate throughout and furnished with quality chic fixtures and fittings and is presented to an exceptionally high standard.

A welcoming staircase entrance to the front (with separate disabled access) and an entrance to the rear of the property provide direct access to the 1st floor trading area. This consists of:

Open Plan Trading Area (circa 100+ covers plus standing) is a fabulous and vibrant well-presented area with a warm and welcoming atmosphere. An assortment of loose tables, chairs, armchairs, settees and even a chaise longue are all complimented by several snug areas and upholstered booth style seating, set elevated around the circular perimeter wall. There is a highly attractive hand painted ‘cherub’ ceiling throughout the trading area that looks down on areas of exposed brickwork and an oak and carpet floor adding to the character and ambience. A well-presented long bar server of oak construction sits against an external wall with 6 cask ales on offer. A wash up and prep area lead off to the rear.

Ground floor Beer Cellar with python system, remote, pumps and 12+ cask tilts.

Staff room / Office / Storage cupboards.

There is a good sized fully equipped Commercial Catering Kitchen with a 5* eho rating and stainless-steel appliances and surfaces (equipment not tested). This area services the first-floor trading area by way of a dumb waiter system. There is also a separate dry goods store and walk in chiller.

Ladies, Gents and disabled wc’s.

Owner’s accommodation
There is no owner’s accommodation for this property and it is a full lock up.


External


To the rear of the property is a delightful spacious Al Fresco Terrace (circa 80+ Covers) set beneath the surrounding highly attractive buildings that forms a large courtyard area. Aluminium bistro tables and chairs are complimented with several attractive surrounding shrubbery pots. There is an elevated block paved Al Fresco Area (circa 20 covers) with loose tables and chairs that overlooks the street to the front of the property.


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 - Sat 10am to 2am
Sunday 11am to 2am

Current opening hours are:
Mon 12noon to 10pm
Tues – Thurs 12noon to 11pm
Fri – Sat 12noon to midnight
Sun 12noon to 6pm

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 business is offered for sale as a new highly favourable 10-year Private Fri Lease Agreement.

1. The asking premium will be £49,995.
2. The initial annual rent will be £36,000
3. The annual rental is simply rpi linked to inflation every 3 years, hence no market rent reviews.
4. Rent payable monthly or quarterly in advance.
5. Lease re-assignable after initial 2-year period.
6. Free of all brewery and supply ties.
7. Each party responsible for own legal costs relating to the transaction.

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 all mains services are connected (no services tested). Business rates payable are advised as being circa £3,346.50 per annum.


The business


The current owners purchased the business in 2017 and have continued to operate with an outstanding reputation as a popular bar & restaurant offering an eclectic variety of fresh quality food, traditional ales and an extensive wine list. The business delivers to a loyal, repeat, desirable and highly professional clientele with a thriving lunchtime trade attracted from the nearby buildings of solicitors, accountants and nhs/hospital staff. The business is currently operated by one of the owner’s assisted by a manager, deputy manager, 3 full time and circa 4-part time/casual members of staff. The business also offers monthly live entertainment (recently introduced) and there are other untapped opportunities. We are advised that accounts declare takings of circa £381,591 (incl. Vat) to 31st December 2018 with a trade split of 60% Wet and 40% Food sales and a combined increasing gp margin in excess of c70%. New owners could continue to operate the business using the same successful formula or may wish to take the business to the next level. In our opinion, this could be achieved by exploring the introduction of a breakfast style offer, themed food events (seafood, tasting, Tapas etc) or taking advantage of extending the opening hours.

This business would only be suitable for an owner/operator/couple who have previous experience in catering and a similar hospitality background.

Accounting information will be made available to interested parties after viewing. This business was viewed by Richard Fletcher who would be delighted to discuss further details and can be contacted on .

Viewing appointments must be made by contacting Guy Simmonds.

Details Prepared April 2019

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.

* Sizes listed are approximations. Please contact the agent to verify actual sizes.

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For more information about this property, please contact
Guy Simmonds, DE73 on +44 1332 494756 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Guy Simmonds, and do not constitute property particulars. Please contact Guy Simmonds for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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