Traditional British restaurant in Horncastle

Horncastle, Lincoln
REF: R07024

Asking Price:
£50,000
Annual Turnover:
£196,638
Annual Net Profit:
TBC
Featured
REF: R07024

Overview

Tenure:
Leasehold
Established:
2005
  • Alcohol licence
  • 100 covers
  • 5-star hygiene rating
  • 2-bed apartment
  • Renovated premises, presented impeccably
  • Character features throughout property
  • Huge scope for growth

The business for sale is a restaurant with bar, comprising traditional with contemporary and serving a varied menu with a focus towards 'hearty wholesome British cuisine' with a modern twist.

Located in the affluent area of Horncastle, Lincolnshire, the premises also accommodates a private function room, a balcony with river view and a high quality two bed apartment – all of which has been renovated to an exceptional standard.

The business has obtained an excellent reputation, and this has been proven by the vast amount of positive feedback on reviewing platforms such as Trip Advisor. The eatery is now for sale on a leasehold basis.

The premises have been renovated to an impeccable standard, featuring brick walls, wooden beams and an open fireplace, complemented by Albion style furnishings and décor. Through the entrance, there is a large bar and waiting area which leads into the spacious restaurant.

The main dining area seats 52 customers, the function room holds up to 36 guests and the balcony, which overlooks the River Bain, a further 12. There is also a large commercial kitchen on this floor and a private function room. Upstairs there are 2 apartments: a self-contained 2 bed and 1 bed, respectively. The 2 bedroom apartment has a kitchen/lounge/diner and family bathroom, renovated to a very high standard. The 1 bed apartment is currently utilised and converted into a storage area comprised of a wine/stock room and storage/laundry area. All equipment including the coffee machine and all fixtures and fittings are contained within the sale, except personal items.

A transitional period is available, if needed.

This is a superb opportunity for a new buyer to purchase a well-established and reputable restaurant in a highly sought-after area of Lincolnshire. Appealing to a buyer in the hospitality industry, or possibly an entrepreneur with similar expertise. There is an opportunity to take on an established local brand with the potential for development.

Increased marketing through the website and social media would also boost exposure to its menu and events and enable the business to grow its customer base through online promotion. Furthermore, updating the website to include an automatic table booking system would also be beneficial for customers.

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  • Market town location
  • Affluent area
  • High footfall
  • Residential area
  • Minimal competition
  • Proximity to other businesses
Rent
£22,800
Rates
TBC
Lease Term
Rolling lease
Lease Expiry
###
Square Footage
TBC
Accommodation Included
TBC
Premises Licence
TBC
Property Value
TBC
Planning
TBC
EPC
C 51-75

Annual Turnover
XXXX
Annual Net Profit
XXXX
Stock at Valuation
XXXX
Accounts
XXXX
Trading Entity
XXXX
Current Ownership
XXXX
Management Structure
XXXX
Number of Employees
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