Sold
Highly Regarded, Free of Tie Pub for Sale
Cambridge, Cambridgeshire
- Asking Price: £70,000 +SAV
-
Turnover:
We are advised the business generated a turnover of circa £142,000 in 2020 (only open for 3 months) and an adjusted net profit of £40,000.
Please quote reference B06172
- Tenure: Leasehold
Please quote reference B06172
Hilton Smythe is delighted to present to the market a free of tie, beautifully presented village pub in a much sought-after area.
The charming business opportunity was purchased by our client in 2019 who after carrying out a complete refurbishment is looking to sell to concentrate on his other business interests.
The business currently offers an equal split between food and wet sales; however, we believe the growing demand for people to eat out will allow any new owner the opportunity to further grow the food side of the business.
Since purchasing the pub, our client has used much of the forced closed period through the Covid pandemic to upgrade both the internal parts of the business as well as attractive beer gardens to the front and rear of the building.
Refurbishment work carried out included -
- New carpets throughout
- Complete re-decoration
- New till system
- CCTV
- New back bar & pot wash area
- New chairs & stools
- New fencing & landscaping to the outside area
- Re-decoration, new kitchen & bathroom to the owner’s accommodation
- Creation of a private garden for the owner
Our clients' experience and hard work is clear to see on arrival, there is a well-stocked bar with cask ales, lagers, fine wines, British gin, and soft drinks.
Outside there are two beer gardens, the walled front garden overlooks the lush village green which hosts the annual ‘Reach Fair’ which takes place on the early May Bank Holiday Monday. The fair attracts over 10,000 people to the area and as a result, this is the pubs busiest day throughout the year! The business generates sales in the region of £6,000 for that day.
Our client is proud of the home cooked menu the pub now offers, sourcing local produce where possible, concentrating on quality food for all the family. Currently the kitchen is only open Friday to Sunday, any new owner may look to extend the opening hours to further increase sales.
The pub comes with the added bonus of having a private dining room located on the first floor, this space can accommodate 20 people and is an ideal space for small celebrations/birthday dinners.
Key Selling Points -
- Unique, village green location
- ‘Turn-key’ opportunity
- Complete refurbishment
- Business website
- 5/5 Google review score
- Active Facebook page with 862 followers
- New 10-year lease in place
- Free of tie
- Potential to turnover £300,000
- Nil business rates payable
- Owners’ accommodation
- Two beer gardens
- Combined internal covers for 54
- External covers for 72 (current covid restrictions. Scope to increase to 100 once restrictions lifted)
Owning/running a pub in this stunning location is one the finest examples of complete lifestyle change. Any new owner(s) would benefit from having some food or hospitality experience.
The Sale of the Business included the following:
Kitchen-
- 1x 6 gas burner cooker
- 1x double deep fat fryer
- 1x gas grill
- 2x industrial microwaves
- 3X Industrial fridges
- 1x new up to regulations extraction system installation cost of about 8k
- 1x walk in fridge
- 1X Dishwasher
- multiple workstations/tables
- crockery and cutlery to service 50 people
- 1x Glass washer
- 1x Epos till system
- 3x fridges
- 1x coffee/tea cups
- 1x coke dispenser
- 2x cellar coolers
- 1 new cooling dispenser
- shelving
- sink
- 14x tables and chairs to fit 34 covers
- Lights
- 3X freezers
- Shelving
The business is run by 1 Full Time staff member and 8 Part Time staff members.
The business operates as followed:
Monday and Tuesday - Closed
Wednesday to Friday - 17:00pm - 21:00pm
Saturday to Sunday - 12:00pm - 21:00pm
Dykes End occupies an enviable trading position on Fair Green in Reach, Cambridge.
The Free house faces the large village green which is surrounded by much sought after traditional residential dwellings.
The pub sits directly to the right of the Church of St. Ethelred and the village hall.
Reach is a small, idyllic village on the edge of the fenland in East Cambridgeshire, located at the north end of Devil's Dyke, 1.5 miles west of Burwell.
The village can be accessed from both the nearby A142 and A14.
The pub benefits from a large free customer car park.
Tenure
We are advised the business is being sold as a Leasehold with 8 years remaining on the orignial 10 year Lease (Under LTA 1954), the rent is £2,083 PCM.
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