Packhorse

GENERAL INFORMATION

LOCATION

Prominently situated on a main A road close to excellent local facilities and affluent villages. The A34 is 1 mile distant and the villages of Harwell and Steventon lie less than 1 mile away and have local shops and schools. Didcot has excellent shopping facilities and is approx. 3 miles in distance.

TRADE AREAS

Entrance porch through to front bar area with timber servery to 1 wall. Parquet flooring to part and open fireplace. Seating for approx. 30 persons. Rear restaurant with bar servery point providing approx. 48 covers. Double doors to rear leading out to patio area. Additional restaurant/function room with parquet flooring to part providing up to 42 covers. The trading areas are in excellent order. Ancillary Areas: Ladies, Gents and Disabled WC's. Catering kitchen (rated 4 star "Scores on the Doors") with range of appliances and incorporating wash area and drystore. Service yard with storeplace housing freezers and ground floor beer cellar. External: Car parking to front, side and rear for up to 50 vehicles. Lawned garden areas, paved patios to front and rear. Aunt Sally throw and bin store.

PRIVATE ACCOMMODATION

Large and versatile accommodation arranged at first floor and comprising of flat with 1 double bedroom, bathroom, office and kitchen. Separate living room and a further 4 bedrooms (2 x double and 2 x single). N.B. In addition there is a self contained staff room with small living area having en-suite shower room and sleeping space above.

BUSINESS INFORMATION

AGREEMENT DESCRIPTION

LEASE ASSIGNMENT: We are offering the lease on the Packhorse for assignment on behalf of the current lessee. This is a 15 year lease from 15th October 2003 and is subject to 3 yearly rent reviews. Free of tie on wines, spirits and minerals and a 50/50 split on machines. Full repairing and insuring with a passing rental of £65,000 per annum.

COSTS

Lease available for a premium of £149,950 plus SAV.

RENT

£65,000 per annum

VOLUME

ESTIMATING TURNOVER

Accounting information provided to us by the current lessee show a turnover to the year-end 30th November 2009 of £576,839 and an associated gross profit of £318,479 (55%). The net profit was £40,676 and the adjusted net profit (adding back depreciation and finance costs) of £54,047. Copies of accounts can be made available to interested parties upon request following a formal viewing of the premises and cannot be warranted by Greene King.

CURRENT PREMISES LICENCE OPENING HOURS

Sunday - Thursday: 11:00 - 01:00 Friday - Saturday: 11:00 - 02:30

WHAT TO DO NEXT

WHO SHOULD APPLY

The Packhorse requires a food orientated operator, ideally experienced with drive and vision to take this already successful business forward.

VIEWING/INTERVIEW DAY

Informal viewings can be made by either visiting the pub as a customer, or telephoning Sandy and Ritchie direct on 01235 832323. All negotiations over the sale of the lease are between the current lessees and the purchaser and upon an agreement being reached Greene King will require proof of funding together with a completed business plan. Our standard business plan can be found at www.pubpartners.net.

HOW TO APPLY

Once you have viewed the property and identified that it's right for you, the next step is to complete an application form. This can be done online at www.greenekingpubs.co.uk. If you do not have access to the internet, or have already completed an application form, please telephone 01284 714497 to register your interest.