restaurant and hotel - Gerald Eve
FOR SALE FREEHOLD
On behalf of Whitbread PLC
T EN PM L O TIA EL EN EV O T ED P R
WOBBLY WHEEL, BANBURY PUBLIC HOUSE/ RESTAURANT AND HOTEL
PUBLIC HOUSE/ RESTAURANT AND HOTEL WOBBLY WHEEL, WARWICK ROAD, WARMINGTON, NR BANBURY OX17 1JJ • • • • • •
Description The pub restaurant building is part two storey at the front but otherwise mostly single storey with facing stonework elevations under pitched tiled roofs and mainly PVC double glazed windows. The central part of property is housed beneath a mostly flat roof with a connecting metal framed structure constructed around a central lightwell with clear double glazing and pitched corrugated steel roof structure.
FREEHOLD PUBLIC HOUSE/RESTAURANT 14 LETTING BEDROOMS PLANNING CONSENT TO REBUILD 40 ROOMS ATTRACTIVE RURAL LOCATION EASY ACCESS TO M40 ALTERNATIVE USE POTENTIAL
Introduction The property trades as a branded Brewers Fayre pub restaurant. The Premier Inn hotel previously comprised a number of hotel bedrooms at ground floor level within the pub restaurant building, together with two adjoining bedroom blocks. However, in early September 2013 a fire broke out at the hotel severely damaging the two bedroom blocks. As a result, these bedroom blocks have been demolished and cleared leaving on site the pub restaurant, together with the hotel reception and a small number of hotel bedrooms (14) within the main building.
Internal acommodation The pub restaurant offers a front bar area with a mixture of hard and soft furnishings and central bar servery with seating for circa (49). Fixtures and fittings are generally timber with the accommodation offering carpeted/timber floors, part panelled and painted walls and painted ceilings. Low height ceilings and exposed timber beams lend character and a slightly more traditional feel. The restaurant area is of similar specification albeit more brightly decorated and provides circa (126) covers. In addition the accommodation comprises trade kitchen, stores and staff facilities, customer toilets (male/female/disabled) and chilled cellar at ground floor level. There is also a small disused basement cellar.
Location The property is located along the B4100 Warwick Road, approximately five miles north of Banbury and 15 miles south of Warwick and Royal Leamington Spa. The surrounding area is countryside and farmland with a few small villages nearby, including Warmington and Hanwell. Access to the motorway network is available via Junction 11 of the M40 near Banbury with the A423 also accessed nearby. The nearest railway station is in Banbury, with frequent train services operating to London.
The hotel reception is via the side of the building. There remain 14 ensuite letting bedrooms on the ground floor which require a new plant room to be installed prior to being useable again. Prior to the fire there were 24 bedrooms in block B and 16 bedrooms in block C providing a total of 54 letting bedrooms. On the first floor the manager’s flat comprises three bedrooms, kitchen and bathroom. There is an additional bedsit with kitchen and bathroom.
The hotel is also understood to gain significant custom from events at Silverstone, as well as from regional businesses such as Jaguar, based near Warwick.
This drawing is the copyright of Axiom Architects. It is for planning application purposes only & may not be reproduced in whole or in part without permission. Drawings lodged for planning approval may be reproduced by the Planning Authority in accordance with the 'Copyright (Material Open to Public Inspection) (Marking of Copies of Plans and Drawings) Order 1990 and must carry the relevant copyright restriction note.
Rwp
Hotel Block B
Hotel Block C
Rwp
APE ESC IRS STA Rwp
S
GA
57
NK
TA
S
GA
NK
TA
EXG PUMP
11
10
9
8
7
6
5
4
3
2
1
58 Rwp Rwp
53
77 Rwp
78 Bath
96 SPACES TOTAL
44 51
Toilet Bath
Toilet Bath
67
Toilet Bath
Toilet
Bath
68
Toilet
Bath
Toilet Toilet
34 Bath
Toilet
Bath
Toilet
rd
Ya
The Wobbly Wheel Brewers Fayre Restaurant
Bath
86
Toilet
Bath
Toilet
Bath
Hotel Block A
Toilet
Bath
Toilet
Bath
Toilet UA
Staff
WC
26
A
rh
Description
By
Brooklands Yard Southover High Street Lewes East Sussex BN7 1HU
Main Entrance to Hotel & Restaurant 1
31.10.13 Condensor Unit compound and escape stair to Block C indicated
Rev Date
96
19
NORTH
6
Tel. 01273 479269 www.axiomarchitects.co.uk
AXIOM
ARCHITECTS
Client
WHITBREAD GROUP PLC Project
PREMIER INN THE WOBBLY WHEEL BANBURY Drawing
SITE PLAN
7
0
10
20
30 M
© Crown Copyright 2005. All rights reserved. Licence number 100020449
Site layout prior to fire. Blocks B and C now removed /cleared to foundation level.
www.geraldeve.com
Scale
Status
Date
1:500 @ A3
Planning
12.09.13
Drawing No.
3477/P3
Drawn Checked
rh Revision
A
© Crown Copyright 2014. Licence No.100020449.
Toilet
Bath
PUBLIC HOUSE/ RESTAURANT AND HOTEL WOBBLY WHEEL, WARWICK ROAD, WARMINGTON, NR BANBURY OX17 1JJ External areas The hotel prior to the fire had 96 car parking spaces on the south eastern side of the site – approximately 34 are currently cordoned off following demolition of the damaged hotel blocks. There was a children’s play area to the rear (currently out of use). At the front of the pub / restaurant is a small area for tables/ chairs. Tenure Freehold – Titles WK346547 and WK442644 2010 Rateable Values There are two assessments Wobbly Wheel Public House and Premises RV £39,000 with effect 1 April 2010 Premier Inn Travel Lodge and Premises RV £58,500 with effect 1 April 2010 These will be subject to appeal following the fire. Energy Performance Asset Rating Copy of full assessment available on request Planning Stratford-on-Avon District Council (01789 260304) The site has potential for continued pub/restaurant/ hotel use either within its reduced scale with 14 letting bedrooms or for the former bedrooms to be re-built. Planning permission was granted on 5 December 2013 to rebuild the two storey hotel destroyed by fire (ref: 13/02400/FUL). Alternatively, the site may lend itself to residential redevelopment subject to planning. Residential (Class C3) could be a supported use on the site as the land is previously developed land and at present the number of identified sites for housing within the District fall short of the required level. Site Area 0.772 ha - 1.908 acres Historic Trading Information 2011
2012
2013
£ 794,887 £ 537,533 £ 196,374 £ 8,781 £ 6,400 £ -22,435
£ 790,047 £ 559,554 £ 221,936 £ 7,659 £ 4,239 £ -25,703
£ 792,477 £ 578,094 £ 219,547 £ 9,695 £ 4,326 £ -35,101
Total Turnover
£ 1,521,540
£ 1,557,732
£1,569,038
Hotel Turnover Pub Turnover
£ 794,887 £ 726,653
£ 790,047 £ 767,662
£792,477 £ 776,561
Accommodation Food Drink Machine Other Discounts
Guide Price Offers sought in excess of £850,000 plus VAT Please contact Chris Ford [email protected] Tel. 020 7333 6366 Mobile 07836 696530
www.geraldeve.com
PUBLIC HOUSE/ RESTAURANT AND HOTEL Wobbly Wheel, Warwick Road, Banbury OX17 1JJ WOBBLY WHEEL, WARWICK ROAD, WARMINGTON, NR BANBURY OX17 1JJ
© Crown Copyright 2014. Licence No.100020449
Aerial photo before fire
Location map
www.geraldeve.com
TERMS AND CONDITIONS Gerald Eve LLP (“Gerald Eve”) is pleased to offer on behalf of Whitbread the freehold premises (“the Property”) referred to within this brochure. The details contained within this document are believed to be correct, but they do not constitute an offer or any part of a contract. All descriptions, details and plans are in general terms only and may be liable to variation or adjustment. Intending purchasers should not rely on them as statements or representation of fact, but must satisfy themselves by carrying out the appropriate searches or otherwise to ascertain the correctness thereof.
Gerald Eve’s marketing and subsequent sales will be subject to the following: Conditions
Customer Bookings
1. All negotiations will be “subject to contract” and Whitbread’s formal board approval.
11. Trade purchasers will be required to honour any bookings taken prior to sale.
2. This sale will be structured as a property transaction and no warranties will be given within the sale contract.
Brands and Trading Names
3. Whitbread reserves the right to withdraw the Property from the market at any stage without liability to any prospective purchaser, or third party. Financial information 4. Trading information has been supplied to Gerald Eve by Whitbread. Turnover figures are net of VAT. Trading figures are for twelve (12) months ending in February each year. Employees 5. The Transfer of Undertakings (Protection of Employment) 2006 (“TUPE”) will apply if the Property is to be sold for its current licensed/ hotel use. The purchaser will be required to continue the employment of all employees working at the Property being sold and to pay any liability arising from any TUPE related issues. Pensions 6. The purchaser will be required to fulfill any pensions obligations owed to any employees acquired as part of the sale process if the Property is to be sold for its current pub/ restaurant and hotel use. VAT 7. The purchaser shall be liable to Whitbread for any VAT payable in connection with the sale. All prices quoted and offers made shall be deemed to be exclusive of VAT. Trade Inventory, Stock and Supply Contracts 8. If applicable, a Trade Inventory will be prepared in accordance with normal trade practice. Leased or other items not owned by Whitbread will be excluded, as will gaming machines, beer raising equipment, Whitbread signage, computer equipment and cash tills. Certain other items bearing the corporate identity or any brand names will be removed from the premises at completion. 9. If applicable, wet & dry stock, glassware, crockery and cleaning materials and fuel will be sold to the purchaser at valuation on completion.
12. Names and trading style names are excluded from the sale as are all trademarks and domain names associated with them. Licences 13. The Property has a Premises Licence and copies are available on request. For a trade sale the vendor will use its reasonable endeavours to transfer all applicable licences relating to the Property, but shall not be held liable if a licence cannot be transferred. 14. It is a requirement of the Licensing Act 2003 that properties serving alcohol have a designated premises supervisor who must be the holder of a Personal Licence. Prospective purchasers are advised to take specialist advice. Sale Process & Offers 15. The property is being offered for sale by private treaty. A date may be set for the submission of informal tenders, details of which will be advised. 16. For trade sales the sale contract will apportion the sale price between Land & Buildings, Landlord’s Fixtures & Fittings and Trade Furnishings & Effects. The vendor will retain the benefit of any capital allowances. 17. Preference will be given to companies who are able to confirm that they have secured their board approval for the bid being submitted. 18. A 10% non-refundable deposit will be required on exchange of contracts. 19. The purchaser will be required to provide appropriate proof of its ability to fund any acquisition. Please, therefore, submit letters from your banks and any equity partners with your bid. Preference will be given to purchasers who are able to confirm that they have secured adequate funding. Viewing Arrangements 20. In the first instance interested parties are invited to carry out customer visits during trading hours. Prospective purchasers are asked not to approach or discuss details regarding the sale of the Property with the unit manager or staff in any circumstances. More detailed inspections may be made by appointment by contacting Gerald Eve. Viewing days may be held. Searches
10. Contracts for goods and services at the property will not transfer on the completion date and the purchaser will need to make other arrangements in this regard.
22. A copy of the Energy Performance Certificate is available on request.
Conditions under which these particulars are issued All details in these particulars are given in good faith, but Gerald Eve LLP for themselves and the Vendors/Lessors of this property for whom they act give notice that:1. These particulars do not and shall not constitute, in whole or in part, an offer or a contract or part thereof, and Gerald Eve LLP have no authority to make or enter into any such offer or contract. 2. All statements contained in these particulars are made without acceptance of any liability in negligence or otherwise by Gerald Eve LLP, for themselves or for the Vendors/Lessors. 3. None of the statements contained in these particulars is to be relied on as a statement or representation of fact or warranty on any matter whatsoever, and intending purchasers must satisfy themselves by whatever means as to the correctness of any statements made within these particulars. 4. The Vendors/Lessors do not make, give or imply, nor do Gerald Eve LLP or any person in their employment have any authority to make, give or imply, whether in these particulars or otherwise, any representation or warranty whatsoever in relation to the property. This statement does not affect any statutory rights you may have nor does it intend to limit Gerald Eve’s liability which cannot be excluded or limited by law. Particulars issued November 2014.
On behalf of Whitbread PLC
T EN PM L O TIA EL EN EV O T ED P R
WOBBLY WHEEL, BANBURY PUBLIC HOUSE/ RESTAURANT AND HOTEL
PUBLIC HOUSE/ RESTAURANT AND HOTEL WOBBLY WHEEL, WARWICK ROAD, WARMINGTON, NR BANBURY OX17 1JJ • • • • • •
Description The pub restaurant building is part two storey at the front but otherwise mostly single storey with facing stonework elevations under pitched tiled roofs and mainly PVC double glazed windows. The central part of property is housed beneath a mostly flat roof with a connecting metal framed structure constructed around a central lightwell with clear double glazing and pitched corrugated steel roof structure.
FREEHOLD PUBLIC HOUSE/RESTAURANT 14 LETTING BEDROOMS PLANNING CONSENT TO REBUILD 40 ROOMS ATTRACTIVE RURAL LOCATION EASY ACCESS TO M40 ALTERNATIVE USE POTENTIAL
Introduction The property trades as a branded Brewers Fayre pub restaurant. The Premier Inn hotel previously comprised a number of hotel bedrooms at ground floor level within the pub restaurant building, together with two adjoining bedroom blocks. However, in early September 2013 a fire broke out at the hotel severely damaging the two bedroom blocks. As a result, these bedroom blocks have been demolished and cleared leaving on site the pub restaurant, together with the hotel reception and a small number of hotel bedrooms (14) within the main building.
Internal acommodation The pub restaurant offers a front bar area with a mixture of hard and soft furnishings and central bar servery with seating for circa (49). Fixtures and fittings are generally timber with the accommodation offering carpeted/timber floors, part panelled and painted walls and painted ceilings. Low height ceilings and exposed timber beams lend character and a slightly more traditional feel. The restaurant area is of similar specification albeit more brightly decorated and provides circa (126) covers. In addition the accommodation comprises trade kitchen, stores and staff facilities, customer toilets (male/female/disabled) and chilled cellar at ground floor level. There is also a small disused basement cellar.
Location The property is located along the B4100 Warwick Road, approximately five miles north of Banbury and 15 miles south of Warwick and Royal Leamington Spa. The surrounding area is countryside and farmland with a few small villages nearby, including Warmington and Hanwell. Access to the motorway network is available via Junction 11 of the M40 near Banbury with the A423 also accessed nearby. The nearest railway station is in Banbury, with frequent train services operating to London.
The hotel reception is via the side of the building. There remain 14 ensuite letting bedrooms on the ground floor which require a new plant room to be installed prior to being useable again. Prior to the fire there were 24 bedrooms in block B and 16 bedrooms in block C providing a total of 54 letting bedrooms. On the first floor the manager’s flat comprises three bedrooms, kitchen and bathroom. There is an additional bedsit with kitchen and bathroom.
The hotel is also understood to gain significant custom from events at Silverstone, as well as from regional businesses such as Jaguar, based near Warwick.
This drawing is the copyright of Axiom Architects. It is for planning application purposes only & may not be reproduced in whole or in part without permission. Drawings lodged for planning approval may be reproduced by the Planning Authority in accordance with the 'Copyright (Material Open to Public Inspection) (Marking of Copies of Plans and Drawings) Order 1990 and must carry the relevant copyright restriction note.
Rwp
Hotel Block B
Hotel Block C
Rwp
APE ESC IRS STA Rwp
S
GA
57
NK
TA
S
GA
NK
TA
EXG PUMP
11
10
9
8
7
6
5
4
3
2
1
58 Rwp Rwp
53
77 Rwp
78 Bath
96 SPACES TOTAL
44 51
Toilet Bath
Toilet Bath
67
Toilet Bath
Toilet
Bath
68
Toilet
Bath
Toilet Toilet
34 Bath
Toilet
Bath
Toilet
rd
Ya
The Wobbly Wheel Brewers Fayre Restaurant
Bath
86
Toilet
Bath
Toilet
Bath
Hotel Block A
Toilet
Bath
Toilet
Bath
Toilet UA
Staff
WC
26
A
rh
Description
By
Brooklands Yard Southover High Street Lewes East Sussex BN7 1HU
Main Entrance to Hotel & Restaurant 1
31.10.13 Condensor Unit compound and escape stair to Block C indicated
Rev Date
96
19
NORTH
6
Tel. 01273 479269 www.axiomarchitects.co.uk
AXIOM
ARCHITECTS
Client
WHITBREAD GROUP PLC Project
PREMIER INN THE WOBBLY WHEEL BANBURY Drawing
SITE PLAN
7
0
10
20
30 M
© Crown Copyright 2005. All rights reserved. Licence number 100020449
Site layout prior to fire. Blocks B and C now removed /cleared to foundation level.
www.geraldeve.com
Scale
Status
Date
1:500 @ A3
Planning
12.09.13
Drawing No.
3477/P3
Drawn Checked
rh Revision
A
© Crown Copyright 2014. Licence No.100020449.
Toilet
Bath
PUBLIC HOUSE/ RESTAURANT AND HOTEL WOBBLY WHEEL, WARWICK ROAD, WARMINGTON, NR BANBURY OX17 1JJ External areas The hotel prior to the fire had 96 car parking spaces on the south eastern side of the site – approximately 34 are currently cordoned off following demolition of the damaged hotel blocks. There was a children’s play area to the rear (currently out of use). At the front of the pub / restaurant is a small area for tables/ chairs. Tenure Freehold – Titles WK346547 and WK442644 2010 Rateable Values There are two assessments Wobbly Wheel Public House and Premises RV £39,000 with effect 1 April 2010 Premier Inn Travel Lodge and Premises RV £58,500 with effect 1 April 2010 These will be subject to appeal following the fire. Energy Performance Asset Rating Copy of full assessment available on request Planning Stratford-on-Avon District Council (01789 260304) The site has potential for continued pub/restaurant/ hotel use either within its reduced scale with 14 letting bedrooms or for the former bedrooms to be re-built. Planning permission was granted on 5 December 2013 to rebuild the two storey hotel destroyed by fire (ref: 13/02400/FUL). Alternatively, the site may lend itself to residential redevelopment subject to planning. Residential (Class C3) could be a supported use on the site as the land is previously developed land and at present the number of identified sites for housing within the District fall short of the required level. Site Area 0.772 ha - 1.908 acres Historic Trading Information 2011
2012
2013
£ 794,887 £ 537,533 £ 196,374 £ 8,781 £ 6,400 £ -22,435
£ 790,047 £ 559,554 £ 221,936 £ 7,659 £ 4,239 £ -25,703
£ 792,477 £ 578,094 £ 219,547 £ 9,695 £ 4,326 £ -35,101
Total Turnover
£ 1,521,540
£ 1,557,732
£1,569,038
Hotel Turnover Pub Turnover
£ 794,887 £ 726,653
£ 790,047 £ 767,662
£792,477 £ 776,561
Accommodation Food Drink Machine Other Discounts
Guide Price Offers sought in excess of £850,000 plus VAT Please contact Chris Ford [email protected] Tel. 020 7333 6366 Mobile 07836 696530
www.geraldeve.com
PUBLIC HOUSE/ RESTAURANT AND HOTEL Wobbly Wheel, Warwick Road, Banbury OX17 1JJ WOBBLY WHEEL, WARWICK ROAD, WARMINGTON, NR BANBURY OX17 1JJ
© Crown Copyright 2014. Licence No.100020449
Aerial photo before fire
Location map
www.geraldeve.com
TERMS AND CONDITIONS Gerald Eve LLP (“Gerald Eve”) is pleased to offer on behalf of Whitbread the freehold premises (“the Property”) referred to within this brochure. The details contained within this document are believed to be correct, but they do not constitute an offer or any part of a contract. All descriptions, details and plans are in general terms only and may be liable to variation or adjustment. Intending purchasers should not rely on them as statements or representation of fact, but must satisfy themselves by carrying out the appropriate searches or otherwise to ascertain the correctness thereof.
Gerald Eve’s marketing and subsequent sales will be subject to the following: Conditions
Customer Bookings
1. All negotiations will be “subject to contract” and Whitbread’s formal board approval.
11. Trade purchasers will be required to honour any bookings taken prior to sale.
2. This sale will be structured as a property transaction and no warranties will be given within the sale contract.
Brands and Trading Names
3. Whitbread reserves the right to withdraw the Property from the market at any stage without liability to any prospective purchaser, or third party. Financial information 4. Trading information has been supplied to Gerald Eve by Whitbread. Turnover figures are net of VAT. Trading figures are for twelve (12) months ending in February each year. Employees 5. The Transfer of Undertakings (Protection of Employment) 2006 (“TUPE”) will apply if the Property is to be sold for its current licensed/ hotel use. The purchaser will be required to continue the employment of all employees working at the Property being sold and to pay any liability arising from any TUPE related issues. Pensions 6. The purchaser will be required to fulfill any pensions obligations owed to any employees acquired as part of the sale process if the Property is to be sold for its current pub/ restaurant and hotel use. VAT 7. The purchaser shall be liable to Whitbread for any VAT payable in connection with the sale. All prices quoted and offers made shall be deemed to be exclusive of VAT. Trade Inventory, Stock and Supply Contracts 8. If applicable, a Trade Inventory will be prepared in accordance with normal trade practice. Leased or other items not owned by Whitbread will be excluded, as will gaming machines, beer raising equipment, Whitbread signage, computer equipment and cash tills. Certain other items bearing the corporate identity or any brand names will be removed from the premises at completion. 9. If applicable, wet & dry stock, glassware, crockery and cleaning materials and fuel will be sold to the purchaser at valuation on completion.
12. Names and trading style names are excluded from the sale as are all trademarks and domain names associated with them. Licences 13. The Property has a Premises Licence and copies are available on request. For a trade sale the vendor will use its reasonable endeavours to transfer all applicable licences relating to the Property, but shall not be held liable if a licence cannot be transferred. 14. It is a requirement of the Licensing Act 2003 that properties serving alcohol have a designated premises supervisor who must be the holder of a Personal Licence. Prospective purchasers are advised to take specialist advice. Sale Process & Offers 15. The property is being offered for sale by private treaty. A date may be set for the submission of informal tenders, details of which will be advised. 16. For trade sales the sale contract will apportion the sale price between Land & Buildings, Landlord’s Fixtures & Fittings and Trade Furnishings & Effects. The vendor will retain the benefit of any capital allowances. 17. Preference will be given to companies who are able to confirm that they have secured their board approval for the bid being submitted. 18. A 10% non-refundable deposit will be required on exchange of contracts. 19. The purchaser will be required to provide appropriate proof of its ability to fund any acquisition. Please, therefore, submit letters from your banks and any equity partners with your bid. Preference will be given to purchasers who are able to confirm that they have secured adequate funding. Viewing Arrangements 20. In the first instance interested parties are invited to carry out customer visits during trading hours. Prospective purchasers are asked not to approach or discuss details regarding the sale of the Property with the unit manager or staff in any circumstances. More detailed inspections may be made by appointment by contacting Gerald Eve. Viewing days may be held. Searches
10. Contracts for goods and services at the property will not transfer on the completion date and the purchaser will need to make other arrangements in this regard.
22. A copy of the Energy Performance Certificate is available on request.
Conditions under which these particulars are issued All details in these particulars are given in good faith, but Gerald Eve LLP for themselves and the Vendors/Lessors of this property for whom they act give notice that:1. These particulars do not and shall not constitute, in whole or in part, an offer or a contract or part thereof, and Gerald Eve LLP have no authority to make or enter into any such offer or contract. 2. All statements contained in these particulars are made without acceptance of any liability in negligence or otherwise by Gerald Eve LLP, for themselves or for the Vendors/Lessors. 3. None of the statements contained in these particulars is to be relied on as a statement or representation of fact or warranty on any matter whatsoever, and intending purchasers must satisfy themselves by whatever means as to the correctness of any statements made within these particulars. 4. The Vendors/Lessors do not make, give or imply, nor do Gerald Eve LLP or any person in their employment have any authority to make, give or imply, whether in these particulars or otherwise, any representation or warranty whatsoever in relation to the property. This statement does not affect any statutory rights you may have nor does it intend to limit Gerald Eve’s liability which cannot be excluded or limited by law. Particulars issued November 2014.
