A country pub and restaurant with five-star Trip Advisor reviews and sales of £320,000 a year is up for sale in Northumberland.
The Tankerville Arms in Eglingham, near Alnwick, has been in the Rook Matthews Sayer client’s ownership for around 15 years, during which it has built up an excellent reputation with many long standing and repeat customers.
The owners are now retiring, giving the chance for a couple or business partnership to operate the business and boost the current profit margins.
The business sits in a sandstone two storey Grade II listed building with pitched slate roof, and there is also a single storey sandstone extension.
The property, which also has a beer garden, sits on the main road running through Eglingham, a rural village seven miles from Alnwick and 10 miles from Wooler which has featured in the Sunday Times’ 50 best places to live in the UK list.
There is a 76-cover restaurant and bar, three four-Star letting rooms and the property has undergone a full refurbishment to a very high standard in recent years, which has aided the 95% occupancy rate during the months of April to October and five star Trip Advisor rating from more than 145 customers.
The business is run by the current owners with a full time manager and chef in place and there are various members of part time staff depending on the time of year.
Rent is £28,000 a year and the leasehold is £75,000.
There is a private car park to the front of the property with a beer garden to the rear with seating provided.
Accounts shown to the agents show a turnover of £320,914 for 2014 which is split £56,357 from the rooms, £130,847 from food and £133,710 from liquor. The projected gross profit is 65% but this will need to be confirmed.
The ground floor has a bar and lounge area with around 30 covers and a mixture of wooden and stone-flagged flooring, open blacken beams, log fire and plush seating.
Drinks are purchased from Majestic wines and Heineken as the bar is free of any tie.
Under the single storey extension is the main restaurant with around 46 covers, with high open-beamed ceilings, exposed stone walls and wooden flooring.
The catering kitchen and wash area is at the rear of the building and there is also a storage area and w/c facilities. The cellar area with all equipment needed to run the bar is also located on the ground floor.
The three letting rooms are on the first floor, including a cosy king size room with private separate bathroom, a large suite with a super king size bed, bathroom and a walk-in shower and a super king size bed room with en-suite bathroom.
Agents Rook Matthews Sayer added: “This is a genuine retirement sale and would be an ideal opportunity for a couple or partnership.”