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Well Established Pub In Northumberland For Lease

Morpeth, Northumberland
Asking Price:
£37,500
Sales Revenue:
£134,765
Cash Flow:
Available on request

Business
Hilton Smythe is delighted to offer to the market The Cross Keys, a delightful and thriving public house, which was established in 1832 and has been in our client`s ownership since 2000. Only now is the business offered to the market due to personal circumstances.

The Cross Keys is open 7 days a week, on limited hours, and generates a turnover of approximately £135,000 per annum. Currently the business derives 40% of the income from wet sales with our client offering a wide range of real ales, fine wines and spirits, as well as weekend lunch food.

We feel there is scope to increase the turnover by extending the range of food availability, as well as promoting the business further by establishing a website.

The pub has a loyal customer base from local villagers and farmers and has a large amount of repeat trade. The property is well maintained and fitted to a high standard.

The pub boasts a spacious bar area and fully equipped commercial kitchen, as well as 2 bedroom owners` accommodation. There is also a one bedroom self-contained cottage with lounge, bathroom and kitchen that is included in the sale.

We would highly recommend early viewing of this profitable concern to full appreciate the property and business.

Location
The Cross Keys is ideally situated in a prominent trading position within the village of Thropton, Northumberland. Thropton is a small affluent village in the Coquet River valley, making it a desirable place in which to live. The village is just a short drive away from the Northumberland National Park, making it an ideal base for walkers and tourists.

The premises benefit from ample private parking and are surrounded by picturesque countryside, as well as being on a busy tourist route, therefore enjoying much passing trade. The premises boast easy access to the A-road network, including the A697 and the A1. Thropton is approximately 30 minutes drive away from the county town of Morpeth and the North East coastal beaches.

The market town of Alnwick with its famous castle is 14 miles away, while Rothbury is 1.5 miles away.

Premises
Very attractive stone built detached property, briefly comprising:
Ground floor:
Main front entrance leading to traditional snug with beamed ceiling, fireplace and timber bench style seating.

Lounge bar area with fully carpeted flooring, timber panelled walls, bench style perimeter seating, fireplace, bar/servery with electronic cash register, under counter double door bottle display chiller, glass washer, sink unit, hand wash basin and access from behind bar to beer cellar.

Rear conservatory/restaurant laid out for 24 covers.

Fully fitted commercial kitchen with 6 ring double oven, deep fat fryer, microwave oven, 2 x filter extraction canopies, hotplate, upright freezer, refrigerator/freezer, 3 x stainless steel preparation tables and stainless steel shelving.

Large games room with pool table and dart board.

Ladies and gents WCs.

1st floor owners` private accommodation, briefly comprising Lounge, 2 x bedrooms one of which is en-suite, bathroom and WC.

External:
Small 2 storey detached cottage with lounge, kitchen, bathroom and a double bedroom to the first floor.
Large 3-tier beer garden with barbecue, small log store and 1,000 litre oil tank to side and a good size car park to front.

Tenure
We are advised Leasehold.
Original lease length: 20 years.
Remaining lease length: 5 years.
Review every: 5 years.
Rent: £25,000 per annum.

Hours
The business is open:
Monday – Friday: 3.30pm – 11.00pm
Saturday: 11.00am – 11.00pm
Sunday: 11.00am – 10.30pm

Staff
The business is owner run with 2 x part-time staff members

Financial Profile
The business generates a turnover in the region of £135,000 per annum with a gross profit of 40%

Property information

Property:

Leasehold

Contact Information

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    We will pass a copy of your enquiry information, along with the name of the business you enquired on to finance specialists Rangewell. They will contact you in due course about financing your business purchase.

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