Sculthorpe Mill

Lynn Road, Sculthorpe, Fakenham, Norfolk, NR21 9QG

A CHARMING DESTINATION BUSINESS, GIVING TOURISTS A PERFECT BASE TO EXPLORE THE STUNNING NORTH NORFOLK COASTLINE

Sculthorpe Mill is a charming former working Water Mill, period property surrounded by flowing streams with large landscaped gardens and open fields. These types of business are rarely available, so interest is expected to be high. The pub enjoys a large well-maintained garden and car park with picturesque views over the flowing streams that wrap around the site. Internally there are two trading floors with the main restaurant seating on the first floor and the remainder of seating and bar on the ground floor. Additionally, there are six letting rooms on the second floor. As you might expect, the Pub is full of charm and character, with beams, fireplaces and original flooring and is well presented. The Pub is currently famous locally for excellent home cooked food, especially the Sunday Roast. Clever marketing to capture the imagination of the thriving tourist trade is this area will be required to take the Mill to new heights and this should be a central part of your business plan. Please note the venue currently holds a wedding ceremony licence which may be available to be purchased from the outgoing tenant in a separate transaction RENT STEPS AVAILABLE: MONTHS 1-3 £25,000 MONTHS 4-6 £30,000 MONTHS 7-9 £40,000 MONTHS 10-12 £50,000

Location

Business Information

Annual rent

£50,000

Weekly rent

£962

Entry costs

£48,400

Turnover royalty

n/a

Forecasted Operator Turnover

£519,849

Forecasted Operator Profit (inc machine profit)

£48,291

Forecasted Operator Machine Profit

£0

Average Beer & Cider Discount*

£72

Type of Tie

Full tie: Access to Discounted Wines, Spirits & Minerals Price List

Agreement

Standard Tenancy Agreement A fixed 5 year term agreement

Entry costs approximately £48,400.00, which includes stock, glassware, crockery, cutlery, fuel and cleaning materials, legal, brokers and stocktaking fees, training fees, schedule of condition, working capital and deposit which is 25% of head rent. Fixtures and Fittings are valued at approximately £25,000 and the final valuation will be confirmed on change day. An assisted purchase of F&F may be available with a 25% deposit on change day and weekly re payments to purchase the remaining 75% over an agreed period

Deposit

£12,500

Fixtures & Fittings

£25,000

Legal Admin Fee

£850

Broker Fee

£750

Stocktaking Fee

£150

Working Capital

£8,000

Other Costs

£1,150

Total Entry Costs

£48,400

You will need to estimate the turnover you expect to achieve from the pub, with regard to food and accommodation (if applicable). Barrelage figures are given to assist you with calculations. **Please note trading volumes for year 19/20 are for part year trading and reflect the impact of closure during the Covid 19 pandemic**

Year Beer (Brls) Wine & Spirits (Ltrs) Minerals (Ltrs)
2019/20 89 1,939 4,320
2018/19 108 2,173 5,167
2017/18 92 712 3,840

The trading areas are mainly made of a good sized restaurant area on the first floor and a further three dining areas on the ground floor. There is a good sized bar and reception desk area. The six letting rooms are on the second floor. The Pub caters for approximately sixty five food covers and has ample car parking with about forty spaces.

Trade Bars

Yes

Trade Dining Areas

Yes

Trade Kitchens

Yes

Trade Food Covers

65

Trade Gardens

Yes

Trade Patio Areas

Yes

Trade Rooms to Let

6

Meeting Rooms

No

External Child Play Areas

No

Function Rooms

Yes

Customer Car Park Spaces

40

Current Premises License Opening Hours

Sun - Thu: 10:00 - 00:30
Fri - Sat: 10:00 - 02:00

Private owners accommodation is situated on the first floor and consists of one double bedroom, bathroom, lounge and office

Private Rooms

5

Lounge

Yes

Dining Rooms

0

Double Bedrooms

1

Single Bedrooms

0

Bathrooms

1

Toilets

1

Private Kitchens

0

Offices

1

Bedsits

0

BDM Portrait

I am looking for an experienced operator with knowledge of seasonal trading patterns that are associated with a destination tourist focused business. Sculthorpe Mill is a stunning, former working Water Mill in a picturesque rural location, close to the banks of the River Wensum. If this is the next challenge you have been waiting for please do contact our recruitment team for further information

Sam Wortley,

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