WEST SUSSEX - TOWN CENTRE VICTORIAN PUB
Worthing, West Sussex
Ref: 45046
Leasehold
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Key Features
Precis
A deceptively spacious Victorian pub with ample inside and outside dining space.
Location
The Cricketers is situated in the seaside town of Worthing, in the county of West Sussex. The town lies at the foot of the South Downs, approximately 10 miles west of Brighton and 18 miles east of Chichester. The town boasts a population of in the region of 110,000 residents and is the second largest component of the Brighton/Worthing/Littlehampton conurbation. This busy area houses all major amenities including schools, a hospital and shopping districts. The Cricketers occupies a notable corner position along Broadwater Street West, along a busy shopping parade which houses a number of national outlets including KFC, Domino’s and Starbucks as well as numerous local businesses.
Worthing is situated on the convergence of the A25 and A27 trunk roads which in turn provide access along the south coast between Hastings and Portsmouth as well as access to London via Horsham and Leatherhead. The area is serviced by three train stations (West Worthing, Worthing and East Worthing) with Southeastern and Thameslink services to Portsmouth Harbour, Southampton Central, Brighton, Gatwick Airport and London Victoria. The town is serviced by a comprehensive bus network.
The Cricketers occupies a two-storey Victorian public house of brick construction with tile hung upper elevations, under a pitched tile roof, with extensions to the rear. The property has been well maintained and is presented to a high standard throughout.
Worthing is situated on the convergence of the A25 and A27 trunk roads which in turn provide access along the south coast between Hastings and Portsmouth as well as access to London via Horsham and Leatherhead. The area is serviced by three train stations (West Worthing, Worthing and East Worthing) with Southeastern and Thameslink services to Portsmouth Harbour, Southampton Central, Brighton, Gatwick Airport and London Victoria. The town is serviced by a comprehensive bus network.
The Cricketers occupies a two-storey Victorian public house of brick construction with tile hung upper elevations, under a pitched tile roof, with extensions to the rear. The property has been well maintained and is presented to a high standard throughout.
Property
TRADE AREAS
Entrance from Broadwater Street West directly into MAIN BAR. The bar is traditionally presented with carpeted flooring, part panelled wood walling and a central bar servery. The bar servery houses 3 drinks fridges and a glass washer. The bar also houses a flat screen TV and 2 brick fireplaces and is capable of providing seating for 10-15.
Offset there is a DARTS AREA presented in an in-keeping manner, housing a dart board and flat screen TV and seating for 10. Offset are FEMALE TOILETS.
Leading through the property from the main bar is access to a quaint SNUG AREA providing comfortable seating for 6.
Furthermore, there is a spacious RESTAURANT AREA with gas effect log burner, exposed timbers, exposed brickwork and brick built fireplace. The restaurant is capable of providing seating for 34. Offset are FEMALE TOILETS with baby changing facilities.
Centrally located within the property there is an ENCLOSED TRADE YARD which is currently used for storage, with GENTLEMENS TOILETS offset.
To the rear of the property there is a large KITCHEN AREA equipped with non slip flooring, UPVC clad walling, extractor, under counter fridges, griddle, 6 burner range cooker, double deep fat fryer, deep fat fryer, upright stainless steel double fridge, upright chiller, dishwasher, stainless steel sinks, hot pass. DRY PANTRY offset.
The property is serviced by a BASEMENT CELLAR.
OWNERS ACCOMMODATION
Located at first floor level there is spacious owners accommodation comprising of FOUR DOUBLE BEDROOMS (one of which is EN SUITE), OFFICE, BATHROOM, KITCHEN, LOUNGE.
EXTERNAL
To the front of the property there is a TRADE PATIO AREA with seating for 10.
To the side of the property there is a covered SERVICE YARD housing a chest freezer.
To the rear of the property there is a covered TRADE PATIO AREA which provides seating for 16. This, in turn, provides access to a large LAWNED TRADE GARDEN AREA capable of providing seating for 100-110. This area also encompasses a wood built play frame, brick built barbecue and pizza oven, pergola. PRIVATE PARKING for one vehicle and two shed STORAGE UNITS.
Entrance from Broadwater Street West directly into MAIN BAR. The bar is traditionally presented with carpeted flooring, part panelled wood walling and a central bar servery. The bar servery houses 3 drinks fridges and a glass washer. The bar also houses a flat screen TV and 2 brick fireplaces and is capable of providing seating for 10-15.
Offset there is a DARTS AREA presented in an in-keeping manner, housing a dart board and flat screen TV and seating for 10. Offset are FEMALE TOILETS.
Leading through the property from the main bar is access to a quaint SNUG AREA providing comfortable seating for 6.
Furthermore, there is a spacious RESTAURANT AREA with gas effect log burner, exposed timbers, exposed brickwork and brick built fireplace. The restaurant is capable of providing seating for 34. Offset are FEMALE TOILETS with baby changing facilities.
Centrally located within the property there is an ENCLOSED TRADE YARD which is currently used for storage, with GENTLEMENS TOILETS offset.
To the rear of the property there is a large KITCHEN AREA equipped with non slip flooring, UPVC clad walling, extractor, under counter fridges, griddle, 6 burner range cooker, double deep fat fryer, deep fat fryer, upright stainless steel double fridge, upright chiller, dishwasher, stainless steel sinks, hot pass. DRY PANTRY offset.
The property is serviced by a BASEMENT CELLAR.
OWNERS ACCOMMODATION
Located at first floor level there is spacious owners accommodation comprising of FOUR DOUBLE BEDROOMS (one of which is EN SUITE), OFFICE, BATHROOM, KITCHEN, LOUNGE.
EXTERNAL
To the front of the property there is a TRADE PATIO AREA with seating for 10.
To the side of the property there is a covered SERVICE YARD housing a chest freezer.
To the rear of the property there is a covered TRADE PATIO AREA which provides seating for 16. This, in turn, provides access to a large LAWNED TRADE GARDEN AREA capable of providing seating for 100-110. This area also encompasses a wood built play frame, brick built barbecue and pizza oven, pergola. PRIVATE PARKING for one vehicle and two shed STORAGE UNITS.
The Business
Our clients have owned and operated the Cricketers for the past 22 years and during this time have built up a reputable traditional public house business which is well utilised by the local community. Our clients are seeking to sell their leasehold interest in order to relocate abroad. The business offers a traditional pub fayre menu. The business is very popular in the summer months, being the only pub locally with an outside trade area.
Trade accounts as follows:
Year Ending December 2019: Turnover £454,898, Net Profit £58,910 (tied lease)
Year Ending December 2020: Turnover £203,592, Net Profit £37,150
Year Ending December 2021: Turnover £235,170, Net Profit £47,279
Trade is split approximately 85% to wet sales and 15% to dry sales. Further accounting detail will be made available to serious parties following a formal viewing.
We are of the opinion that the Cricketers would suit a hands-on owner operator who has experience in the kitchen and who could further expand on the food offering.
Trade accounts as follows:
Year Ending December 2019: Turnover £454,898, Net Profit £58,910 (tied lease)
Year Ending December 2020: Turnover £203,592, Net Profit £37,150
Year Ending December 2021: Turnover £235,170, Net Profit £47,279
Trade is split approximately 85% to wet sales and 15% to dry sales. Further accounting detail will be made available to serious parties following a formal viewing.
We are of the opinion that the Cricketers would suit a hands-on owner operator who has experience in the kitchen and who could further expand on the food offering.
Tenure
LEASEHOLD £95,000 to include fixtures, fittings and goodwill. Stock at valuation in addition.
The Cricketers is held on a fully repairing and insuring lease agreement from Heineken for a term of ten years commencing July 2020. This fully assignable lease falls within the security provisions of Landlord & Tenant Act 1954. Rent currently stands at £68,500 per annum, subject to five yearly rent reviews. A rental deposit equivalent to three months’ rent will be required by the Landlord. The lease is free of all trade ties.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
The Cricketers is held on a fully repairing and insuring lease agreement from Heineken for a term of ten years commencing July 2020. This fully assignable lease falls within the security provisions of Landlord & Tenant Act 1954. Rent currently stands at £68,500 per annum, subject to five yearly rent reviews. A rental deposit equivalent to three months’ rent will be required by the Landlord. The lease is free of all trade ties.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
Licence
A full Premises Licence is held.
Services
All mains services are connected.
Rateable value is £54,800.
Local Authority: Worthing Borough Council
Rateable value is £54,800.
Local Authority: Worthing Borough Council
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Robert Cockayne
South East & London
