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The Crow's Nest

Mablethorpe, Lincolnshire

£250,000 +SAV

Ref: B04161

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Description

Hilton Smythe are pleased to welcome to the market The Crow’s Nest in Sutton-On-Sea.

The property has undergone major refurbishment throughout in 2016 and now presents itself as the must go to traditional wet led venue within the town and surrounding areas.

Now serving a range of real ales the site continues to go from strength to strength reinventing itself with a warm welcome and a traditional serving of beers, wines and spirits and also hosting an extensive range of popular gins.

The site is currently run under management for the owners who are now seeking retirement. The site presents a rare and exciting opportunity for either an established operator looking for an additional site or for an individual looking to take a recently refurbished and growing business and putting their own spin on things continuing to take the site on an upwards trajectory.

The main trading area has been finished to a very high standard adopting an adult only entrance policy along with dogs. This has proved extremely popular within the area and suits the pubs traditional layout and ale focused serving. The business benefits from having an outside service area and utilises the wide pavement to the side incorporating 5 Bistro tables and chairs, which is used in the summer.

The site also has the enormous benefit of a spacious 3 bedroom first floor apartment with the added benefit of a separate entrance providing the new owner the option to let the accommodation out subject to the necessary local planning consents.

The Crow’s Nest is a golden opportunity not to be missed, a well thought through business model with plenty of room for further growth in a hugely popular and sought-after seaside location.

Tenure

Freehold/Leasehold

We are advised the business is being sold as a Freehold opportunity with a guide price of £250,000.

Leasehold Option is £29,950 for the business. Rent £16,000 per annum.

We understand that the new owners will qualify for 100% Discretionary Rate Relief.

Hours

The opening hours are currently 12.00am to 10.00pm seven days a week.

Staff

The business is currently run under management with assistance of 3 x part time staff.

Financial Profile

We are advised the business is currently turning over in the region of £114,000 per annum on an upwards trajectory trading limited hours with the site currently 100% wet led.

The rateable value of the site is £7,900 with business rates currently payable at £2,792 per annum, new owners have the potential to obtain 100% discretionary rate relief.

Location

The Crow’s Nest is located towards the end of the main high street in Sutton-On-Sea. The business is also a small walk away from the beach.

The site is easy accessible by all modes of transport and on foot with ample parking surrounding the property in the centre of Sutton.

Premises

Semi-detached premises located towards the end of the High Street in Sutton-On-Sea.

The site has been completely and extensively refurbished throughout.

The premises include;

The main trading area with a bar, ground floor WC’s, rear office, store and cellar.

Tables and chairs, shelving, coffee machine and storage binnacles.

Rear access out to a side entrance along with access to the handsomely finished first floor apartment which consists of kitchen/diner, lounge and three bedrooms with an outside patio area. This also includes a brand new beautifully appointed bathroom with tiled bath and walk in shower.

The business is being offered with the equipment necessary for it to function in its current format.

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