Well Established Public House And Letting Rooms
Great Yarmouth, Norfolk
- Asking Price: £190,000 +SAV
Colonel H generated an advised turnover of circa £73,330 as of the 2018 accounts, with a gross profit of £34,408 and a net profit of £10,816
Our client informs us that they now have full occupancy on the letting rooms generating an income of £16,640 against the £10,814 as per the 2018 accounts.
The freehold of the business is worth in the region of £245,000.
Please quote reference B05383
- Tenure: Freehold
Please quote reference B05383
Hilton Smythe welcomes to the market Colonel H, which has been in our client’s ownership since 2007 and a public house for many decades. Our client is now looking forward to retirement.
The wet lead public house is open 7 days a week is set on the ground floor of this three-storey building is a cash only pub.
The first floor is set out as 4 letting rooms, all with TVs and fridges. There is also a communal kitchen and dining room, a storeroom and two shower room/ WCs on this level along with fire escape access. These rooms are mainly let out via the local authority at £80 per room per week.
The owner’s accommodation is on the top floor and has 3 double bedrooms, a double aspect lounge, kitchen, 4-piece bathroom and is double glazed and central heated.
There is also a cellar which is divided into 4 large areas, 1 of which is the cold cellar for the beer kegs.
Hilton Smythe highly advise early viewing to avoid disappointment.
The business is run and managed by our client, with the help of 2 evening members of staff.
Monday - Sunday: 12:00pm til late
Colonel H is in Great Yarmouth, Norfolk, close to the sea front within a highly populated residential area.
Colonel H is set in a three storey Victorian era corner property with a pub on the ground floor, 4 renting rooms and communal rooms on the first floor and a self-contained 3 double bedroom owners flat on the top floor. There is also a four-room cellar.
The pub has two entrances, one on the corner and a further entrance to the side, there is another entrance that leads to the accommodation.
The bar area has wooden flooring numerous seats at tables and on sofas. TV showing Sky and BT Sport, pool table access to toilets and access to the bar.
The toilets are off a lobby way from the main bar.
The bar itself has taps for 5 beers, storage below, shelving for drinks and glasses a door to the cellar and a door to the kitchen area.
The kitchen has wall units, sink, work surfaces, fridges and access to the courtyard style outside area.
The cellar is divided into 4 rooms, 2 being for storage and one for storage of the beer kegs. The other area has access for the draymen.
The top two floors are accessed via a side door, which also comes off the main bar. The first-floor landing has a door that leads to the owner’s accommodation in the second floor and a door that leads to the letting rooms.
There are 4 letting rooms generating an income of £80 each per week. Each room is double glazed and central heated, has bed, fridge and TV. There are 2 communal shower rooms that serve the 4 letting rooms. Each shower room has a sink and WC. On this floor is a communal kitchen with wall and base units, sink, fridges, cooker and a dining room. There is also a storeroom on this level and access to courtyard via a fire escape door.
There owner’s accommodation has double glazing, central heating and three double bedrooms along with a double aspect living room and a fitted kitchen.
We are advised the business is being sold as a freehold business opportunity.