The Old George Botley Road Fair Oak Eastleigh Hampshire SO50 7AN

Head Office

Ref: 30816

Guide Price £95,000 Leasehold

Traditional style public house, former coaching inn Successful trade, 100% wet sales Same hands for past 9 years Net sales £347,092 excluding VAT, June 2010 Partial tie only, free on wines, spirits & soft drinks Excellent potential for introduction of food 2 bars and outside trading area Good 3 bedroom owner's accommodation

Location

Situated in the popular, well regarded suburb of Fair Oak, Eastliegh, approximately 5 miles east of Southampton.

Viewing Arrangements

Strictly by appointment only via the Oxford office of DDC Davey Co on 01865 481 478.

The Business Premises

Lounge Bar: A traditional style lounge bar facility with bar servery, feature brick fireplace, fixed upholstered seating and loose tables and chairs, beamed ceiling, opens through to:

Restaurant Area: Situated in the former stables, accommodating around 20 covers.

Public Bar: With bar servery, pool table, loose tables, chairs and bar stools.

Ladies & Gents WCs:

Catering Kitchen: There is a commercial catering kitchen facility.

Beer Cellar: Located at lower ground floor level.

The Owners Accommodation

Occupying the first floor and comprising a lounge, office, 3 bedrooms and bathroom with separate WC.

Outside

There is an enclosed paved seating terrace to the side rear of the premises and there is also a car park for around 13 vehicles.

Head Office

Trading Information

The trading profit and loss accounts for the year ended 30th June 2010 show net sales of £347,092 excluding VAT, from which a gross profit of £158,138 (45%) was achieved. The net profit on the accounts was £45,567, from which an adjusted net profit in excess of £50,000 has been realistically calculated to exclude owner's drawings, depreciation, loan servicing and any other exceptional or non-operationally specific overheads. The business derives its income almost entirely from wet sales alone and possesses excellent further development potential for the introduction of a successful food trade.

Further accounting information will be made available to genuinely interested parties who have viewed the business.

Opening Hours

Monday, Tuesday, Thursday: 12.00 midday - 11.00 pm

Wednesday: 4.00 pm - 11.00 pm

Friday - Saturday: 12.00 midday - 12.00 midnight

Sunday: 12.00 midday - 10.30 pm

Trade Fixtures & Fittings

We are advised that the fixtures and fittings are substantially free of loan, hire purchase and lease agreements.

Staff

Run by our clients with the assistance of 8 part time members of staff.

Licenses

The property has a premises licence granted by the relevant local authority. It is a requirement of the Licensing Act 2003 that properties serving alcohol have a designated premises supervisor, who must be the holder of a personal licence. Prospective purchasers are advised to take appropriate specialist advice. We are advised the premises licence permits the sale of alcohol between the hours of 7.00 am - 1.00 am 7 days per week.

Rates

The rateable value of the premises is approximately £32,400 with the rates payable for 2010/2011 being approximately £13,413.60.

Tenure

We are advised the premises are held on the residue of a 20 year lease with Enterprise Inns, with approximately 12 years unexpired. We are advised the current rent passing is in the order of £37,000 per annum, next due for review in 2012 and the lease carries a beer and cider only tie, rendering the business free of tie in respect of wines, spirits and soft drinks sales.

Price

Offers are sought in the region of £95,000 for the leasehold premises, the goodwill of the business and trade fixtures and fittings. Stock to be purchased separately at valuation.

Note

All room dimensions where given are for guide purposes only. These particulars are also drafted for guide purposes only and cannot be relied upon for their total accuracy. Our clients have provided trading information given.