Key features
- Highly visible & profitable public house with parking, and no product tie
- 3-bedroom owners’ accommodation and further studio apartment
- Bar and snug area running to a total of circa 100m² (1,076ft²)
- Offers are invited in the region of £58,000 for the business, goodwill, fixtures and fittings and assignment of the existing lease
Location
The Wheatsheaf sits on the historic "Bull Ring" at the centre of this town, once the port at the head of Brading Haven. With a picturesque town centre and boasting the Island's oldest building, Brading attracts tourists and locals alike. Sat on the main arterial road between Ryde and the Sandown-Shanklin-Lake conurbation. The Wheatsheaf is highly visible to passing trade and the easy access and extensive car park makes stopping off an easy decision. Local trade has historically been encouraged by pool and darts teams, giving a grounding to the business throughout the year, which obviously benefits from a seasonal boost from the high influx of tourists during the summer season.
Description
The public areas run to circa 100m² (1,076 ft²) comprising public bar and snug area adjacent. This is supported by ladies and gents facilities, storage, cellar, and large garage. On first floor is the 3-bedroom owners’ flat with combined commercial/domestic kitchen and separately accessed studio apartment, which may well suit Bed and Breakfast or staff accommodation. Please see floor plan for further details.
The Business
Profitable business with consistent turnover, and a gross profit of circa 60% of the turnover. The pub is currently open from midday to midnight most days, occasionally staying open later when there is live music etc. Accounts are available to bona fide applicants once a viewing has taken place.
The Lease
The premises is held on a lease with 15 years remaining to run, and a current passing rent of £24,000 per annum.
Premises Licence
Licence number 21/00057/LAPVAM allows for the provision of alcohol from 10:00am until 01:30am Monday to Sunday
Terms
Offers are invited in the region of £58,000 for the business, goodwill, fixtures and fittings and assignment of the existing lease.
Uniform Business Rate
Rateable Value: £5,600
2024/2025: 54.6p without small business relief. Interested parties should make their own enquiries of the Isle of Wight Council to confirm any rate liability or rate concession that may be applicable by telephoning Business Rates on 01983 821000
Viewing
Strictly by appointment with sole agents Gully Howard Commercial Property, Suite 11 Salisbury Gardens, Dudley Road, Ventnor PO38 1EJ. Call Gavin Chambers or Morgan Williams on 01983 301 434. E: gchambers@gullyhoward.com or mwilliams@gullyhoward.com
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