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HIGHLY RECOMMENDED ** LEASEHOLD SALE ** SOLE AGENCY ** | ||
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THE
LORD MORPETH PH, 402 OLD FORD ROAD, TOWER HAMLETS, BOW, LONDON, E5 5NR |
Location: Corner sited wet sales led premises with deceptively attractive and comfortable recently refurbished interior public areas. Set on the busy B118 and near to Victoria Park with easy access via Bow Road to central London and the northern access road to the Blackwall Tunnel, premises are surrounded by residential housing and best approached from Bow road (A11) turning off north (Grove Road A1205 opposite Mile End tube) to large central roundabout taking the third exit on to Old Ford Road, the premises are on your right. Trade areas: These premises were completely refurbished and re fitted late 2005 / early 2006 and little investment if any is required to continue and possibly grow the very supportive and mainly local trade, Main side entrance to: Central attractive dark hardwood clad semi circular and fully equipped, easily supervised bar servery fronting partially carpeted and timber floored combined saloon and public bar area. Traditional modern functional trade furnishings enhance the public areas, large screen TVs, dedicated raised area for darts throw, access off main bar areas to recently fully refurbished Gents and Ladies WCs, further access off rear of bar to small partially covered smokers lobby with further access off rear of servery passage to small but functional trade kitchen. Access off rear of servery to basement cellar with chilled beer store and cellar reception. These premises are a 'No food hassle' venue and a food menu is not currently offered. Very supportive local trade, premises have the advantage of five mixed dart teams and two premises sponsored football teams. GFCH throughout. All main services are connected and the premises are fully alarmed. Externally: There are no external customer facilities at these premises, parking is somewhat restricted with local residents permits and metered bays available. Parking is not considered an important aspect of this business, as the base trade is very local. Private Accommodation: Stairs up off rear of servery to: Three Bedrooms, large kitchen, lounge, separate bathroom and WC Trade: We have had sight of the latest accounts to April 2008 whereby the vendor advises the weekly takings (Net of VAT) average £6,500.00. including AWP machine profit of £60.00. net weekly. The wet sales takings show a gross (Net of VAT) profit of 54% producing combined total (Net of VAT) gross profit of £137,553.00 pa. Latest barrelage figures January to June 09 detailed as 280 Brewery barrels (36 Gallon units). Full and latest accounts will be made available to serious enquirers. Tenure: 5 years fully assignable lease remaining on an original Laurel full repairing and fully Insuring Lease, full tie for beers only. Wines spirits and soft drinks / minerals free of all ties. All machine income profit is paid to the Lessee. The landlords are Enterprise Inns, we are advised the current landlords would consider a new nil premium full term lease as an option. Rent:Currently
£31,000.pa. Including insurance (net of VAT), next review due 2014. and
five yearly thereafter Price: All serious offers will be considered via the agency for the unexpired lease to include full trade inventory, plus stock and glassware at completion, additional funding will be required for some advance rent and legal fees. (Finance is available, subject to status). Viewing: Discreet viewing of the public areas during normal hours, arrangement to view the accommodation is strictly by appointment through the agency on 01634 254408
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