Sidney Phillips have announced that the Leasehold interest in the Tavistock Pub & Carvery, Bedford, has been brought to the market.
Regional Valuations Manager Zaine Lamont said: “The opportunity to acquire a Free-of-Tie lease in such an affluent location is a rarity in the current market. I am very excited to be instructed on the sale of the Tavistock, due to its incredibly successful turnover and profit margins. This business is truly a turn-key acquisition and in my opinion a new Lessee could see a return on their premium immediately.”
This established pub and carvery offers a relaxed family friendly atmosphere to an upmarket clientele that travel not only from the local area but the surrounding towns and villages too. Our clients have created a business that boasts an annual turnover in the region of £840,000 resulting in a sterling net profit of £216,000, with these numbers forecast to rise for the forthcoming year.
The Tavistock Pub & Carvery occupies a notable property and benefits from housing two sizeable trade spaces, a commercial kitchen, basement cellar and gated customer car park. The property is held on a fully repairing and insuring free-of-tie Lease from a private freeholder for a term of 10 years, with 8 years remaining. Rent stands at £65,000 per annum and the lease is within the provisions of Part ll Landlord & Tenant Act 1954.
Sidney Phillips has been instructed to market the Tavistock off a guide price of £250,000 for the Leasehold interest.
For further information about this business for sale, please contact Sidney Phillips’ Eastern office on 01522 500059 or Click here for more detail.