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Popular Public House In Birkenhead For Lease

Birkenhead, Merseyside
Asking Price:
£48,950 Furniture / Fixtures included
Sales Revenue:
£164,427
Cash Flow:
Available on request

Established In the 1950’s
Accounts Year End 31st March 2018
Annual Turnover £164,427
Gross Profit £53,744
Accounts Available After Viewing
4 Bedroom Living Accommodation
Customer Car Park To Rear
Rental Income of £16,640 Per Annum
Low Rent Due to Rental Income
Easy Access to Liverpool City Centre
Situated in Busy Residential Area
Local and Repeat Customers
EPC – D

REF 6216 – Leasehold Public House with Accommodation

Blacks Brokers are pleased to bring to the market this leasehold public house with accommodation located in a popular residential area of Upton, Birkenhead.

INTRODUCTION

The Overchurch been trading on Royden Road since the 1950’s with our client in ownership since 2014. The pub is an integral part of the local community, offering a warm and friendly atmosphere along with live music, family fun events and sports viewing. Our client has built up a superb reputation and a good social media following with regular updates posted.

LOCATION

The pub is positioned in a much sought-after residential area. Upton is a popular village with local school, cricket club and excellent motorways access. The area is close to Liverpool city centre and is within ten minutes of local beaches including Morton, New Brighton and West Kirby. The property has a large, free car park to the rear and public transport links are excellent.

REASON FOR SALE

Our client offers this business for sale due to other business commitments.

LEASE

The building is available on a competitive rent on a Full Repair and insure lease (FRI lease). This is the most common form of commercial property lease. The current lease is five years and began in 2017 at a cost of £450 per week plus VAT. This is offset by the rental income of £16,640 coming from the first floor living accommodation. The beauty salon (see Building Layout & Design) on the ground floor could also be sublet for additional income.

BUILDING LAYOUT AND DESIGN

The Overchurch trades from the ground floor of an impressive, detached property with a good amount of outside space both front and back. The front of the property offers outdoor seating and to the rear is a large car park and dedicated smoking area. The pub is well branded with large signage displayed on the front and side of the building. Inside, the main bar area is presented nicely, with modern décor, multi-burner fire, comfortable seating for around twenty and wooden flooring throughout. The area is furnished with a 50-inch, wall mounted, flat screen television and full-size pool table. There is also a separate lounge area used for televised sports viewing and this is fitted with another 50-inch, wall mounted, flat screen television – this is more traditional in appearance with seating for around thirty. Staff and customer toilets are available and again are presented and finished well. The stock room is positioned to the rear of the bar and there is also a very large beer cellar with barrels connected to the bar. CCTV is fitted throughout.

The business lease also covers the first floor which contains an extensive, self-contained, four-bedroom living accommodation. This comprises of lounge, fitted kitchen, family bathroom and outdoor terrace. The accommodation has a separate entrance to the side of the building. This is currently sub-let by our client bringing £16,640 per annum in rental income.

Finally, the property also houses a beauty salon. This is currently occupied by a family member free of charge. This is situated within the ground floor, it has a separate entrance and was originally an off licence before being converted into a salon. Ideally, the current tenant would like to stay here and negotiate a new sub-lease with the new business owner. The space could also be used as part of the pub – possibly a kitchen dependant on the new owners wishes.

STAFF

The business is currently operating with our client working on a part-time basis along with his partner and two additional members of part-time staff.

FINANCIAL DETAILS

The Overchurch has traded solidly during the last seventy years. The business generates an annual turnover of £200,000 with gross profits of £83,000. Full financial details are available upon viewing. The sub-lease of the accommodation as mentioned above brings an additional £16,640 per annum.
Leased items within the pub include the pool table and juke box with costings of £400 per calendar month plus VAT.

SUMMARY

This leasehold business is long-established and very well-known in this area of Birkenhead. There is plenty of scope to develop the business further with the application of a late licence, more themed nights and the introduction of food sales. This proposition offers a range of opportunities for a new owner, from investment with the intention of sub-lets, or for a new owner-operator looking for a business with accommodation in place. Early viewings are strongly advised.

Property information

Property:

Leasehold

Business Operation

Trading hours:

Mon - Sun: 12:00 – 00:00

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