Property Information
Address:
Reading, Berkshire
Price: Property no longer available.
Size: SOA
Primary Category: Businesses For Sale
All Categories:
Businesses For Sale,
Property Ref/Movehut: MH528690
Property Ref/Agent: 13236-pubrestaurant-and-bed-and-amp-breakfast-for-sale
*Please use the agent ref when calling the agent directly.
Property description
Hilton Smythe is delighted to welcome to the market this well-established and popular pub, restaurant and bed & breakfast business, which is ideally located within the village of Knowl Hill, Berkshire.
The business was established by our client in 2013 and is only now being offered to the market due to our client's other business commitments. The business operates 7 days per week and generates a turnover in the region of 449,000 per annum, with a gross profit of approximately 54%, as per the 2016 accounts.
The business offers a variety of alcoholic beverages including, beers, lagers, an extensive wine selection and spirits, as well as soft drinks. The restaurant is very popular serving a variety of homemade Italian cuisine, including pasta dishes, fish dishes, meat dishes and tapas, as well as a large selection of homemade desserts.
The New Inn also has 9 guest bedrooms, all of which were completely refurbished in 2013 to a very high standard. There are 6 x double rooms, 2 x single rooms and a superior double room, all of which are en-suite. The guest rooms generate 40% of the current turnover. There is also some staff accommodation, which could be used as owners' accommodation, should a new buyer desire.
Externally our client has created an office space, which has both heating and electricity at a cost of between 4,000 - 5,000, as well as a 20ft.
The business has a Certificate of Excellence 2013 award from the popular travel website Trip Advisor.
The business has built up an excellent reputation within the area and further afield for the very high quality of the fayre and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.
We feel there is scope to increase the turnover by extending the opening hours. A new owner could also embark on a modest marketing campaign to promote the excellent food and accommodation offered. The business boasts excellent reviews on the popular travel website Trip Advisor and has an excellent and informative website to advertise the business at .
This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this thriving business to the next level; therefore, early discussions with Hilton Smythe must come highly recommended to avoid disappointment.TENUREWe are advised Leasehold:
Original lease length: 15 years
Remaining lease length: 11 years, as of November 2016
Rent: 50,000 per annumHOURSThe business is open:
Monday - 3.00pm - 10.00pm
Tuesday - Thursday: 12.00pm - 11.00pm
Friday - Saturday: 12.00pm - 12.00am
Sunday: 12.00pm - 8.00pmSTAFFThe business is owner run and managed with 8 x staff members and 2 x directors.FINANCIAL PROFILEThe business generates a turnover in the region of 449,000 per annum, with a gross profit of approximately 54%, as per the 2016 accounts.
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