SURREY - HIGH TURNOVER REFURBISHED PUB

A rare opportunity to acquire a very well-established and performing business in a prime area of the South East. The property has been fully refurbished and is superbly presented.

The Harrow is situated in the picturesque village of Chaldon, in the Tandridge District of Surrey. Situated on the outskirts of the highly desirable commuter town of Caterham, the village sits high on the North Downs. The area is well known for its walking trails and cycling routes as well as being the home of the Surrey National Golf Club. Caterham houses all necessary amenities including private and state schooling, hospitals and a busy town centre lined with national and independent retailers.

The area is considered to be prime commuter belt due to its ease of access and commutability into Central London. Caterham is easily accessed via the M25 at both junctions 6 and 7 as well as the A22 and M23. Caterham boasts mainline rail services into both South and East Croydon, Dulwich, Peckham Rye, London Bridge and London Victoria.

The Harrow occupies a charming character public house understood to date back to the 16th Century. This two-storey property is of brick and flint construction under a pitched tile roof, and whilst having undergone an extensive refurbishment program, retains much of its original features and charm. Despite its age, the property is not a listed building.

TRADE AREAS
Entrance from front of property via LOBBY directly into MAIN BAR. The bar is superbly presented with a combination of tiled and wood flooring, exposed brickwork, timbers, log burner and part-panelled walls. The bar is serviced by a solid wood servery housing three double drinks fridges, two single drinks fridges, glass washer, EPOS till system and PA system. The bar provides seating for 30, with room for more standing.

Offset are MALE WCs, FEMALE WCs and side ENTRANCE LOBBY to garden.

Leading to the rear of the bar is a RESTAURANT area presented with carpeted flooring, vaulted ceiling and part-panelled walls. This area provides seating for 25-30 and is often used to cater for private dining and buffet space for events.

Centrally located within the property is a fully fitted TRADE KITCHEN equipped with UPVC and stainless steel cladding, non-slip flooring, extractor, 6 burner range cooker, chargrill, two double deep fat fryers, hot pass, under counter fridges, Rational oven and two commercial microwaves. Furthermore there is a WASH-UP AREA with commercial pass-through dishwasher, under counter fridges, microwave, grease trap and storage cupboard. Offset there is a DRY STORE and BOILER ROOM.

The property is serviced by a GROUND FLOOR CELLAR with Heineken Smart Dispense System, cellar cooling and delivery access to the side of the property.

The Harrow houses CELLAR STORAGE in addition, currently unutilised.

OWNERS ACCOMMODATION
Located at first floor level is private owner's accommodation comprising:
- LIVING ROOM with MODERN FITTED KITCHEN area.
- 3 x DOUBLE BEDROOM
- BATHROOM
- ROOF TERRACE

EXTERNAL
To the front and side of the property is tarmacked CAR PARKING for 30 vehicles.

The premises houses an impressive TRADE GARDEN area, recently fitted with covered pergolas and a heated jumbrella. This area provides seating 100-120 customers, enjoys mature wisteria and climbers and is very popular during the summer months. Offset is a BBQ SHACK with chargrill. In addition there is a STORE CUPBOARD.

To the rear of the property is a TRADE YARD with two shed storage units, as well as a GARAGE housing a walk-in chiller, double upright stainless steel freezer and decarboniser. Furthermore there is a GARAGE/WORKSHOP with washing machine and tumble dryer.

Our clients have owned and operated the Harrow for the past 16 years and during this time have taken an under trading locals pub and transformed it into a highly successful food-led business which enjoys strong support and repeat customer from the wider local community.

The business has for many years enjoyed a healthy turnover:
YE 31 March 2017: £673,730
YE 31 March 2018: £690,989
YE 31 March 2019: £739,846
YE 31 March 2020: £722,776

Trade is split approximately 55% to dry sales and 45% to wet sales.

Most recent profit and loss accounts show an adjusted net profit of circa £75,000, which could easily be increased by a new owner by adjusting their accounting processes and personal expenditure. The business is supported by a strong team of staff including three chefs and an assistant manager. Further accounting detail can be made available to serious parties following a formal viewing.

The Harrow would well suit a hands on operator couple, who could continue to drive this already successful business to the next level with an increase in marketing and develop a greater social media presence, which is currently not utilised to its full potential. A transitional handover period between owners can be made available if desired.

LEASEHOLD £120,000 to include fixtures, fittings and goodwill. Stock at valuation in addition.

The Harrow is held on a fully repairing and insuring lease agreement from Star Pubs & Bars for a term of 25 years commencing 17 August 2005. This fully assignable lease falls within the security provisions of Part II Landlord & Tenant Act 1954. Rent currently stands at £74,036.24 plus VAT, subject to annual RPI adjustments and 5 yearly rent reviews, the next due in 2025. An incoming party will be required to lodge a deposit of £16,000 with the Landlord. The lease is of partial tie, tied on draft lager, ales and bottled beer (a £25 per barrel discount is enjoyed), free of tie of wines, spirits and minerals.

No direct approach to be made to the business; please direct all communications through Sidney Phillips.

Viewing strictly by appointment only.

A full Premises Licence is held permitting on and off sales:
Monday to Thursday 10:00-00:00
Friday to Saturday 10:00-01:00
Sunday 12:00-22:30

Mains water, electricity and drainage.
Fuel via LPG.

Rateable Value: £40,200