FOR SALE FOUR CROSSES, HOLYHEAD ROAD, BICTON, SHREWSBURY, SY3 8EF

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1 FOR SALE FOUR CROSSES, HOLYHEAD ROAD, BICTON, SHREWSBURY, SY3 8EF

2 SUMMARY Successful pub restaurant in prominent roadside location Restaurant(s) 84; bar 36; function suite 120 Turnover (net of VAT) 480,770 with potential to increase. Rare opportunity 645,000 FREEHOLD INTRODUCTION The Four Crosses is a substantial and attractive public house and restaurant having the benefit of spacious bar and areas catering for c. 150 covers together with a dedicated function and wedding suite with a capacity to hold functions for up to 120. In addition to the impressive public areas the Four Crosses also benefits from a spacious and attractive four bedroom owners flat, large car park and trade gardens. The Four Crosses occupies a prominent roadside position in the popular village of Bicton just approximately 3 miles north west of the beautiful town of Shrewsbury in Shropshire. Transport communications are excellent with the main A5 trunk road just half a mile from the pub affording easy access from not only the local population but also those travelling from the Midlands to North Wales. On the doorstep of Bicton is a major new development known as Shrewsbury West, which has just commenced and will eventually create up to 800 new homes and a major new area of employment. Given it s close proximity, the Four Crosses will benefit greatly. During their ownership of the Four Crosses the private owners have let the Inn to an experienced and successful operator. The tenant has agreed to surrender the lease and therefore the pub is offered for sale as a going concern and unencumbered by the current lease. Over the past 10 years the pub has achieved an average turnover of c. 530,000 net of VAT and while turnover for 2016/2017 was 480,000 the current operator is expecting turnover to exceed half a million pounds in the current financial year. We would strongly recommend an early appointment to view. THE PROPERTY A substantial detached period property with accommodation over ground and first floors. The building is of traditional brick construction with rendered elevations and a pitched slate roof. To the rear are a number of contemporary single storey extensions.

3 PUBLIC AREAS An entrance porch and glazed double door to the side of the property lead from the car park to the main public areas. The main bar restaurant area has an attractive slate floor, substantial bar servery and freestanding tables and chairs to accommodate c. 36 covers. A secondary brasserie area has space for a further 54 covers. To the other side of the entrance hall is an overflow/boardroom area often used for Sunday lunches etc which has freestanding tables and chairs to accommodate 30 covers and has trifold doors leading out to the gardens. To the rear of the property is the Isle Suite an attractive room used for weddings and other functions. The suite has a capacity of between 90 and 120 and has a Civil Wedding Licence with a dedicated area for ceremonies. There is a third function suite known as the Little Restaurant which is used for small weddings/private dining. ANCILLARY AREAS Ground floor: Commercial Kitchen with a range of stainless steel professional equipment, work surfaces, storage and extraction system. Staff changing room, laundry room, separate washing up area, storage area with walk in fridge and dry store. OUTSIDE To the side of the pub is a large car park with space for in excess of 50 vehicles. The pub also has a lawned trade garden and patio with trellis and wooden seating. At the rear of the pub are two sheds for additional storage together with a double garage. OWNER S /MANAGERS ACCOMMODATION On the first floor is a spacious and attractive flat having the benefit of 4 bedrooms, one of which has an ensuite. A second bathroom, a lounge/diner, a kitchen/diner and laundry room.

4 PLANNING PERMISSION & LOCAL DEVELOPMENTS We understand from the owners that planning permission has been granted for a substantial extension to provide space for an extra 48 covers. This planning occupies a position where currently there is the patio area. Just started, and close to Bicton, is a major new development, the Shrewsbury West Sustainable Urban Extension (SUE) which will provide up to 800 new homes and a major area of new employment and industry. Given the proximity to the Four Crosses this new development should have a positive impact upon trade. TRADE Management figures supplied by the current operator show 10 years turnover figures with an average turnover of 530,000 per annum. The lowest in that period was 436,329 the highest being 603,197. Whilst 2016/2017 the net figure was 480,730 the figures for the current financial year would suggest that turnover would be in the order of 520,000 in the current financial year. It is important to note that the pub is currently let to the operator/tenant who in turn has management in place to run the pub on their behalf. Given these additional layers of expense an experienced operator taking a hands on approach should return substantial profits given the levels of turnover the Four Crosses is capable of achieving. PRICE 645,000 for the freehold property together with trade fixtures and fittings (subject to inventory). Stock additionally at valuation. FINANCE Colliers International is able to assist prospective purchasers by introducing sources of finance if required. Whilst we do not charge the buyer for this service, we may receive an introductory commission from the lender or broker involved.

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6 TO VIEW All appointments to view MUST be made through the vendor s agents who are acting with sole selling rights. Jonathan Wren jonathan.wren@colliers.com 12 th Floor Eleven Brindleyplace 2 Brunswick Square Birmingham B1 2LP Property Ref: SUBJECT TO CONTRACT Disclaimer Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Colliers International has any authority to make any representation or warranty whatsoever in relation to this property. May 2017 Colliers International is the licensed trading name of Colliers International Property Advisers UK LLP which is a limited liability partnership registered in England and Wales with registered number OC Our registered office is at 50 George Street, London W1U 7GA.