Financial Details
Asking price: £170,000
Sales revenue: £362,600
Net profit: Undisclosed
Fixtures value: Undisclosed
Stock value: Undisclosed

  • Photograph of this business for sale

Business Description
We are delighted to offer this traditional, well established hostelry for sale. The business has seen considerable investment during the 11 year tenure of the vendors. It is being offered for sale as the owners wish to retire.

This substantial pub, which dates back to Victorian times, has developed an excellent reputation with village locals, tourists and travellers alike.

The pub has a traditional bar, with a pool table and various gaming/vending machines. In addition, there is a main restaurant area with some 44 covers, and a converted barn which can easily accommodate a further 50 covers, either as a separate function room or additional restaurant capacity. 3 real ales are offered along with an extensive range of wines and spirits.
Food is a very important component of this successful business. Two menus are offered, one specialising in Oriental cuisine, the other more traditional pub fayre, including Sunday lunches.

Approximate wet/dry spit is 40%/60%. The Oriental menu accounts for around 60% of food sales, and the reputation locally is excellent.

The large kitchen area is fully equipped to industry standards, with a large inventory of equipment included within the sale.

The pub’s clientele form a strong blend of local trade and tourist trade.

There are a range of pub teams with the pub being especially busy in the summer months where takings of £12, 000 per week is not uncommon. In addition, functions are a growing component of the business, with the separate barn conversion in which to hold them.

The large garden, which has permanent wooden tables is popular in the summer, and the lawn is large enough to accommodate a marquee.

The business has seen considerable investment over the last 5 years, totalling some £120K from the vendor, which has been more than matched by Punch Taverns.

No immediate investment, other than the consideration price therefore will be required by the buyer.
REF: 9503NR


DISCLAIMER: Viewing is essential to fully appreciate this business and strictly by appointment only through the agents. N/B: All Negotiations must be conducted through broker. These details do not constitute part of an offer or contract and properties are offered subject to being sold, let or withdrawn without notice at any time and without liability for any expenses incurred by applicants. All statements and descriptions are made without responsibility or warranty by us, vendors or lessors. Intending purchasers must check for themselves (Misrepresentation Act 1967).
General Information
Employees:The business employs 5 full time staff and 6 part time staff, in addition to the husband and wife management team. During the summer months an additional 5 staff are employed.
Trading hours:Mon – Fri: 12 midday – 3.00pm & 5.00pm – 12 midnight Sat: 12 midday – 2.00am Sun: 12 midday – 12 midnight
Property:Leasehold
Location:This delightful public house is positioned prominently on a main trunk road leading from Norwich, the County city of Norfolk. It is a well known stopping off point for travellers. The business benefits from ample car parking, owners’ accommodation, and there is a large garden area. Just over the road is a fish and chip shop, and there is a bus stop immediately outside the pub.

The pub is located in a prosperous village, near the town of Cromer. The town of North Walsham, an important tourist centre in the Norfolk Broads, lies just 7 miles to the south east. Bus links within the area are good. There are railway stations at Cromer and North Walsham, connecting to Norwich. London Liverpool Street is reached in approximately 90 minutes. There is an International airport just to the north of Norwich.

The business is ideally sited, close to the tourist towns located on the North Norfolk coast, with the Norfolk Broads and Great Yarmouth lying to the east. The County population swells considerably during the summer months, with a mix of holiday makers and weekend residents, mainly from London and the south.
The County is an important tourist destination and has seen considerable investment in the tourist and transport infrastructure over the past decade. The wider hinterland forms a vital agricultural region. Offshore industries and financial services are important contributors to the Norfolk economy
Premises Details:A substantial early Victorian Public House, with bar, restaurant, function room, owners’ accommodation, large garden, ample car parking and ancillary buildings.

Ground Floor
• 44 cover restaurant
• Traditional bar with:
• Pool table
• Large flat screen TV
• Fruit Machine
• Games Machine
• 2 Peanut Vending Machines
• Dart Board
• Ladies and Gents WCs
• Fully accessible disabled WC
• Function room with up to 50 covers
• Cellar with liquor store
First Floor
• Owners’ Accommodation Comprising:
• 3 double bedrooms
• Living Room with CCTV monitoring station
• Office
• Bathroom and W/C
External
• Ample separate car parking
• Delightful beer garden with 11 large tables
• Store with walk in chiller and freezer
• Wash up area
• Laundry with 2 commercial washing machines
• Laundry shed
• Private garden
Expansion potential:1. Licensed hours not fully exploited 2. Website not developed 3. Additional promotion of function room 4. Entertainments license held but not fully exploited 5. Favourable rental terms recently agreed
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