Pattinson.co.uk - Tel: 0191 239 3252

hotel in DH8 Two Storey Detached Premises Boutique Hotel / Restaurant & Bar Edmundbyers, Freehold & Business For Sale in AONB , DH8 9NL 6 x Immaculately Furnished Bedrooms Beautiful Pub in a Rural Village Location £349,950 Starting Bid Well Presented Owners Accommodation

Pattinson.co.uk - Tel: 0191 239 3252 Summary - Property Type: Hotel - Parking: Allocated Price: £349,950

Description FOR SALE BY AUCTION: auction to be held at 5pm on 25th March 2020 at Kingston Park Rugby Club. Terms and conditions apply.

We are pleased to offer for sale by auction this popular pub currently trading as the Punch Bowl Inn. The pub is a substantial detached property, traditionally constructed in stone and brick under pitched slate covered roofing. The subject property has 4* accommodation comprising of 6 letting bedrooms, all with en-suite, a well appointed 26 cover restaurant, a comfortable lounge bar seating 46, a large beer garden ( 60 ), and a well equipped catering kitchen.

Location The Punch Bowl Inn sits on the roadside almost in the centre of the beautiful village of Edmundbyers, close to Derwent Reservoir and surrounded by open countryside. The sought-after village is used by commuters to the larger conurbations of Hexham, Gateshead, Newcastle and Consett. The pub overlooks a village green in a quiet idyllic setting. The subject property is 21 miles west of Newcastle Upon Tyne and 20 miles west of Durham.

Rateable Value The adopted rateable value is £22,400 as of 1st April 2017. Public House and premises; however, interested parties should confirm the current position with the Local Authority.

Sourced from VOA.

Business Details Our vendor operates the pub with help from a full-time chef and manager, as well as a part-time pool of staff.

Our Vendor's year end is 31st March and the accounts to 2018 show net sales of £345,368 with a GP of 63.64%, wage costs of 35.4% and a net profit of £45,591.

March 2019, shows sales of £347,449 with a GP of 63.46%, wage costs of 46% and a net profit of £20,551.

This drop in profit was largely due to the increase in wage costs, a change in personal circumstances saw the business being operated by only one of the partners which led to a need to increase full and part-time staff.

The projection to the Y/E 2020, predicts sales of £344,093; a GP of 68.24%, wage costs of 41.3% and a net profit of £40,664.

Whilst sales have remained fairly steady, despite the opening of another bar in the Village, the GP has improved with the addition of a new Head Chef, there is still room for much improvement through the reduction of the wage costs. A decrease of 6%, to previous levels ( 2018 ), would see an improvement of approx. £20,000 to the net profit.

Whilst these figures have been extracted from the accounts, etc. for the relevant periods provided to us by our Clients. Prospective purchasers are advised that they must verify the figures for themselves.

The pub trades with various suppliers and the prices per pint are; Carlsberg £3.80, Tetley £3.60, Guinness £4.10, Somersby Cider £4.00, San Miguel £4.10 and a 35ml measure of spirits is £3.00. Main meals range between £9-£13

The overall gross margin currently is around 68% with stock checks made every 2 months to ensure good GP's etc. The food offering is available from blackboard specials, an a la carte menu and operates an eat anywhere policy. The pub has an excellent reputation for good quality fayre and has a Breakfast Award from 'Visit ', as well as a Certificate of Excellence from Trip Advisor. Accommodation GROUND FLOOR:

The Inn is a substantial detached property, traditionally constructed in stone and brick under pitched slate covered roofing. There are entrances from the car parks leading into an open plan LOUNGE BAR (46) with central servery. The pub has been totally refurbished over recent years and is in excellent decorative order throughout, being in a traditional style with a modern twist with character beams, bric-a-brac and wood flooring. To one corner, an archway leads through into a second lounge area with access to the Ladies and Gents toilet facilities.

The entrance vestibule at the front has three doors, one leading into the bar, one leading to the private and letting accommodation and another into the RESTAURANT with feature fireplace that can accommodate around 26, has a Butler's pantry and is extremely tastefully fitted out.

The CATERING KITCHEN is very well equipped with a separate PREP ROOM for washing up and freezer storage.

Part of the property was formerly converted to create a delicatessen/village shop, which is currently now only used for storage.

FIRST FLOOR:

Stairs from the entrance vestibule lead up to the first floor letting accommodation, which comprises 6 en suite letting bedrooms, which have been recently redecorated providing 4* accommodation.

Bedroom 1 is a family room with bath and an over-bath shower.

Bedroom 2 is a double with shower and bath.

Bedroom 3 is a single room with shower.

Bedroom 4 is a twin with bath and shower.

Bedroom 5 is a double with shower

Bedroom 6 is a Twin room with shower.

The letting accommodation has a 4star silver award and the current tariffs are £65 for a single room, Twin £85, £85 for a double room and £110 for a family all rates include breakfast and available via EVIIVO.

(see: www.thisisdurham.com/accommodation/the-punch-bowl-inn).

First Floor Owners Accommodation:

The owner's accommodation is also on this floor and briefly comprises; 2 generous double bedrooms, one of which is used as an office, large lounge / dining area, well-fitted kitchen and very nice bathroom. The flat itself is in excellent decorative order throughout.

CELLAR:

Traditional basement cellar with low head height accessed via a flap behind the bar servery. Deliveries are made via a beer drop in the beer garden to one side of the pub.

EXTERNALLY:

Vehicle Parking is available at the front and rear of the property. There is a large BEER GARDEN, seating for 60, with mature trees and shrubbery overlooking the village green .

SITE AREA:

72.14m² (c0.01 hectare) - 777ft² (0.27acre)

Services All mains services are provided except mains gas. A propane tank supplies the heating system and cooking facilities. A comprehensive alarm and cctv are fitted

Services have not been tested or verified by us. Prospective purchasers must satisfy themselves by personal enquiry or otherwise of the existence, capacity and suitability of the various supplies. EPC Available upon request (rating C).

Tenure Freehold. Title number DU154178.

Additional Information For further information please contact our office direct on 0191 737 1154, or alternatively via e-mail on [email protected]. With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest. Edmundbyers, Consett, County Durham, DH8 9NL Contact your local branch today for more information on this property: Keith Pattinson Silverlink, Wallsend, Tyne and Wear, NE28 9NY, Tel: 0191 737 1154 , www.pattinson.co.uk

These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property.

Pattinson.co.uk - Tel: 0191 239 3252