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Finance And Services:

Sold. The Cat Inn, Egremont. Historic Grade Ii Freehold Public House/b&b (free Of Tie)

LISTING DETAILS
Firms For Sale ID:
34660
Vendor reference:
AC352
Vendor website:
     
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BUSINESS DETAILS
Location:
Primary sector:
Secondary sector:
Commercial property:
Asking price:
£179,500  
Turnover / revenue:
£220,000
Net profit / cashflow:
Undisclosed
Trading hours:
Monday - Friday: 11.00am - 11.00pm Saturday - Sunday: 11.00am - 12.00am Letting accommodation is available all year round.
Number of employees:
2

OTHER DETAILS
Reason for selling:
The business is offered to market due to the vendors ill health. It is ideally placed for continued success moving forward.
Business is relocatable:
No
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
 
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BUSINESS DESCRIPTION
The Cat Inn, Egremont.
Historic Grade II Freehold Public House/B&B (free of tie)
Ref. AC352
Location : Egremont, Cumbria
Asking Price :GBP 179,500
A rare opportunity has arisen to acquire this wellestablished and popular public house with letting accommodation located in the bustling market town of Egremont, Cumbria.
The business was originally established in 1789 and has been in our clients careful ownership since February 2015. The business is only being offered to the market due to our clients unfortunate health problems. The sale comprises the freehold property with estimated market value circaGBP 260,000 and the business within it. The business is leased to a third party generating a passive income ofGBP 26,000 per annum. As an owner managed business an income of circaGBP 70,000 toGBP 80,000 may be generated.
The public house, which offers a wide range of beers, lagers, spirits and soft drinks. Our client also offers 6 letting rooms, which are currently occupied on a short term basis by contractors working at Sellafield, which is only approximately 5 miles away.
The property has been maintained to a very high standard and all the letting rooms are decorated to a very high standard throughout. After our client purchased the property it was completely refurbished. The refurbishment programme finished in February 2016.
We are advised that the government recently announced thatGBP 2.5 billion will be invested in Sellafield Nuclear Station refurbishment, also a new nuclear power station will be built at the same time in the same area. Copeland Council has already started investing in new housing, a shopping centre and other additional services to the community. The project is estimated to last until the end of 2027. Therefore there has been a significant increase in property prices in the area. It is also expected that the local population will grow substantially during that time.

Expansion Potential
The Cat has been part of the fabric of the town since 1789 and has a loyal customer base. This foundation has been built upon by providing room only accommodation over many years to, in the main, contractors working in the area. There are significant opportunities to expand the business, most notably by developing the accommodation side of the business to provide breakfast and evening meals. This could also be introduced to the pub as a whole as it is ideally located on The High Street of Egremont.