SOMERSET - WET-SALES DRIVEN CHARACTER FREE HOUSE
Coleford, Radstock, Somerset
Ref: 94682
Leasehold £35,000
1 / 9
Key Features
Location
The Kings Head stands at the centre of the settlement of Lower Coleford which sits beneath the larger village of Coleford. Lower Coleford contains many fine period properties dating from the time when this was an important industrial mining area at the heart of the Somerset coalfields. Coleford is situated on the Mells River in the Mendip Hills, 5 miles west of Frome. The village and civil parish have a combined population of 2,313 according to the 2011 census.
Properties in the vicinity have been tastefully restored by residents, many of whom commute to the local towns of Frome, Radstock and Shepton Mallet or to the nearby cathedral city of Bath. The A367 is located a short car journey away and connects the town of Shepton Mallet to Bath, passing through the towns of Midsomer Norton and Radstock en route.
The original Kings Head pub burnt down in 1830 and was rebuilt in the same year. The property is of rendered and colourwashed elevations under a pitched slate roof.
The property is briefly described as follows:
Properties in the vicinity have been tastefully restored by residents, many of whom commute to the local towns of Frome, Radstock and Shepton Mallet or to the nearby cathedral city of Bath. The A367 is located a short car journey away and connects the town of Shepton Mallet to Bath, passing through the towns of Midsomer Norton and Radstock en route.
The original Kings Head pub burnt down in 1830 and was rebuilt in the same year. The property is of rendered and colourwashed elevations under a pitched slate roof.
The property is briefly described as follows:
Property
TRADE AREAS
Two front entrances into the two main trading areas which contain many fine original features throughout, with huge slate flagstones, stripped natural woodwork and a feature stone fireplace with inset fuel stove. The furnishings include a variety of natural wood tables, chairs, stools and settles. The BAR SERVERY is a feature, having a stripped wood panel faced bar servery counter with polished top and back bar display feature. The smaller trading room is the GAMES ROOM which contains a pool table as well as a log burning stove.
SIDE HALLWAY with access to the KITCHEN with a range of snack catering equipment.
LADIES' and GENTLEMEN'S CUSTOMER TOILETS.
Refrigerated BEER STORE.
A separate OUTBUILDING contains the SKITTLE ALLEY/FUNCTION ROOM with solid wood floor skittle playing surface.
OWNERS ACCOMMODATION
FIRST FLOOR:
There is internal as well as separate rear access to the owners accommodation which provides a spacious double aspect LOUNGE which was previously a meeting room. Farmhouse style KITCHEN/DINER. Open plan OFFICE. Family BATHROOM. UTILITY ROOM. DOUBLE BEDROOM with EN SUITE SHOWER ROOM. 2 further DOUBLE BEDROOMS.
EXTERNAL
To the front of the property is a lawned BEER GARDEN with stone wall surround and paved flagstone patio, over which there is a 12m canvas marquee. This outside trade area combined can seat 100+. There is a spacious CAR PARK to the front of the property with parking for around 25 vehicles.
WOOD SHED.
Two front entrances into the two main trading areas which contain many fine original features throughout, with huge slate flagstones, stripped natural woodwork and a feature stone fireplace with inset fuel stove. The furnishings include a variety of natural wood tables, chairs, stools and settles. The BAR SERVERY is a feature, having a stripped wood panel faced bar servery counter with polished top and back bar display feature. The smaller trading room is the GAMES ROOM which contains a pool table as well as a log burning stove.
SIDE HALLWAY with access to the KITCHEN with a range of snack catering equipment.
LADIES' and GENTLEMEN'S CUSTOMER TOILETS.
Refrigerated BEER STORE.
A separate OUTBUILDING contains the SKITTLE ALLEY/FUNCTION ROOM with solid wood floor skittle playing surface.
OWNERS ACCOMMODATION
FIRST FLOOR:
There is internal as well as separate rear access to the owners accommodation which provides a spacious double aspect LOUNGE which was previously a meeting room. Farmhouse style KITCHEN/DINER. Open plan OFFICE. Family BATHROOM. UTILITY ROOM. DOUBLE BEDROOM with EN SUITE SHOWER ROOM. 2 further DOUBLE BEDROOMS.
EXTERNAL
To the front of the property is a lawned BEER GARDEN with stone wall surround and paved flagstone patio, over which there is a 12m canvas marquee. This outside trade area combined can seat 100+. There is a spacious CAR PARK to the front of the property with parking for around 25 vehicles.
WOOD SHED.
The Business
The Kings Head has been in the present owners’ hands since November 2018. They have run it as an authentic country village free house: it is a wet-sales driven business, well-known in the region for being an unspoilt public house which concentrates on local ales and ciders. The Kings Head is supported by local residents as well as skittles and cribbage teams. It shows televised BT Sport, offers regular live music evenings and hosts regular bike meetings between the months of May and October.
We have been advised that the profit and loss accounts for the year ended March 2023 show an annual net turnover of £230,465 and it is estimated that the adjusted net profit amounts to almost £45,000. Full accounting information may be made available to serious parties following a formal viewing.
This is a compact business with low staffing overheads and would therefore suit a hands-on couple. There is scope to create a light food offering to complement the already popular drinking trade.
We have been advised that the profit and loss accounts for the year ended March 2023 show an annual net turnover of £230,465 and it is estimated that the adjusted net profit amounts to almost £45,000. Full accounting information may be made available to serious parties following a formal viewing.
This is a compact business with low staffing overheads and would therefore suit a hands-on couple. There is scope to create a light food offering to complement the already popular drinking trade.
Tenure
LEASEHOLD £35,000 to include goodwill and fixtures and fittings. Stock at valuation in addition.
The Kings Head is held on a full repairing and insuring lease agreement from a private individual for a term of nine years, commencing March 2018. The Freeholder has confirmed they would look favourably about adding a five year extension on the lease, with a freeze in rent, subject to the strength of the ingoing lessee. The lease falls within the security provisions of the Landlord & Tenant Act 1954. Rent currently stands at £36,000 per annum, paid monthly in advance, subject to five yearly rent reviews and annual RPI adjustments. An incoming party will be required to provide a rental deposit to the Landlord of £10,000 in advance. The lease is free of all trade ties.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
The Kings Head is held on a full repairing and insuring lease agreement from a private individual for a term of nine years, commencing March 2018. The Freeholder has confirmed they would look favourably about adding a five year extension on the lease, with a freeze in rent, subject to the strength of the ingoing lessee. The lease falls within the security provisions of the Landlord & Tenant Act 1954. Rent currently stands at £36,000 per annum, paid monthly in advance, subject to five yearly rent reviews and annual RPI adjustments. An incoming party will be required to provide a rental deposit to the Landlord of £10,000 in advance. The lease is free of all trade ties.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
Licence
A full Premises Licence is held for the sale of alcohol:
Monday to Saturday: 12:00 to 01:00
Sunday: 12:00 to 23:30
Monday to Saturday: 12:00 to 01:00
Sunday: 12:00 to 23:30
Services
All main services are connected.
Local Authority: Mendip District Council
Rateable Value as at 01 April 2023: £12,700
Local Authority: Mendip District Council
Rateable Value as at 01 April 2023: £12,700
Enquire about this listing
Nathan Stainer
Wessex
Ref: 94682
