BEDFORDSHIRE - THRIVING TOWN CENTRE PUB BY STATION
Luton, Bedfordshire
Ref: 45958
Leasehold
1 / 8
Key Features
Precis
A prominent and well-know public house situated in a high footfall thorough fare between the station and the shopping centre.
Location
The George II is located in the large Bedfordshire town of Luton. The town lies approximately 29 miles north of London and boasts a sizable population in the region of 215,000. Luton was for many years famous for hat making and also as the home of the Vauxhall Motor factory and more recently, the University of Bedfordshire. Luton is home to the one of the country’s busiest airport, London Luton Airport.
The town is easily accessed by the M1 junctions 10 and 11, which in turn provides fast access to the Midlands and the North, as well as London via the M25. Mainline railway services are available from Luton and Luton Airport Parkway with direct services into London Kings Cross, Blackfriars and London Bridge.
The George II occupies a prominent and eye-catching corner public house. The property is Grade II listed and is understood to date back to the 1870’s. The property is situated on Bute Street, the major thoroughfare between the station and the nearby Mall Shopping Centre. Furthermore the property will be situated a mere to 250m from Luton Town FC’s new 23,000 seater stadium.
The town is easily accessed by the M1 junctions 10 and 11, which in turn provides fast access to the Midlands and the North, as well as London via the M25. Mainline railway services are available from Luton and Luton Airport Parkway with direct services into London Kings Cross, Blackfriars and London Bridge.
The George II occupies a prominent and eye-catching corner public house. The property is Grade II listed and is understood to date back to the 1870’s. The property is situated on Bute Street, the major thoroughfare between the station and the nearby Mall Shopping Centre. Furthermore the property will be situated a mere to 250m from Luton Town FC’s new 23,000 seater stadium.
Property
TRADE AREAS
Entrance from pedestrianized Bute Street directly into open plan BAR and DINING AREA. This trade space has recently undergone a recent full refurbishment and is presented to a modern and high standard throughout, incorporating part panelled walling, strip wood flooring and central bar servery housing three triple drinks fridges, coffee machine and glass washer. The bar houses a pool table, flat screen TV, juke box, and two darts areas with scoreboards. The bar provides seating for 42 with space for 7 bar seats and room for plenty more standing.
Offset are Gentleman’s and Ladies toilets.
Leading through the property is access to the COMMERCIAL TRADE KITCHEN, which is extensively equipped with a range of commercial facilities including chargrill.
The property is serviced by a basement CELLAR, divided into three rooms, comprising two chilled barrel stores, and a bottle store. Delivery drop from front of property.
OWNERS ACCOMMODATION
At first and second floor level there is the first of two flats, comprising two DOUBLE BEDROOMS, LIVING ROOM, KITCHEN, WC.
Located at second floor level there is a second flat which comprises, DOUBLE BEDROOM, SINGLE BEDROOM, LIVING ROOM, KITCHEN.
Separate access to rear of property.
LETTING ACCOMMODATION
FIVE LETTING BEDROOMS with shared bathroom facilities.
Separate access to rear of property.
EXTERNAL
To the front of the property along Bute Street there is a FRONT TRADE PATIO AREA with seating for 12.
To the rear of the property there is a TRADE PATIO with smoking solution.
REAR YARD.
Entrance from pedestrianized Bute Street directly into open plan BAR and DINING AREA. This trade space has recently undergone a recent full refurbishment and is presented to a modern and high standard throughout, incorporating part panelled walling, strip wood flooring and central bar servery housing three triple drinks fridges, coffee machine and glass washer. The bar houses a pool table, flat screen TV, juke box, and two darts areas with scoreboards. The bar provides seating for 42 with space for 7 bar seats and room for plenty more standing.
Offset are Gentleman’s and Ladies toilets.
Leading through the property is access to the COMMERCIAL TRADE KITCHEN, which is extensively equipped with a range of commercial facilities including chargrill.
The property is serviced by a basement CELLAR, divided into three rooms, comprising two chilled barrel stores, and a bottle store. Delivery drop from front of property.
OWNERS ACCOMMODATION
At first and second floor level there is the first of two flats, comprising two DOUBLE BEDROOMS, LIVING ROOM, KITCHEN, WC.
Located at second floor level there is a second flat which comprises, DOUBLE BEDROOM, SINGLE BEDROOM, LIVING ROOM, KITCHEN.
Separate access to rear of property.
LETTING ACCOMMODATION
FIVE LETTING BEDROOMS with shared bathroom facilities.
Separate access to rear of property.
EXTERNAL
To the front of the property along Bute Street there is a FRONT TRADE PATIO AREA with seating for 12.
To the rear of the property there is a TRADE PATIO with smoking solution.
REAR YARD.
The Business
Our clients have owned and operated the George II for the past 12 years. During this time have taken a under-trading boozer and converted it into a popular wet led venue which is well known for its darts, live music and food. The business has three darts teams which frequent on a regular basis.
It is our understanding that gross turnover prior to covid stood in the region of £15,000 per week. We understand that current trade sits in the region of £10,000 gross per week which is increasing as we move further away from the pandemic. Further trading details can be made available to serious parties following a formal viewing.
We are of the opinion that the George II would suit a hands on owner/operator who could continue to drive this thriving and busy business forward and increase sales revenues with an enhanced marketing campaign focussed at food offering. Furthermore a new operator could increase turnover by letting the five letting bedrooms and the two flats.
It is our understanding that gross turnover prior to covid stood in the region of £15,000 per week. We understand that current trade sits in the region of £10,000 gross per week which is increasing as we move further away from the pandemic. Further trading details can be made available to serious parties following a formal viewing.
We are of the opinion that the George II would suit a hands on owner/operator who could continue to drive this thriving and busy business forward and increase sales revenues with an enhanced marketing campaign focussed at food offering. Furthermore a new operator could increase turnover by letting the five letting bedrooms and the two flats.
Tenure
LEASEHOLD £98,000 to include fixtures, fittings and goodwill. Stock at valuation in addition.
The George II is held on a fully repairing and insuring lease agreement from Greene King for a term of ten years commencing 18 September 2018. The lease falls within the security provisions of the Landlord & Tenant Act 1954 and is fully assignable. Rent currently stands at £35,000 per annum paid monthly in advance, subject to five yearly rent reviews, and annual RPI adjustments. An incoming party with be required to provide a rental deposit to the Landlord of £7,000 in advance. The lease is of partial tie, tied on draught and bottled beers, and ciders free-of-tie on wines, spirits, minerals.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
The George II is held on a fully repairing and insuring lease agreement from Greene King for a term of ten years commencing 18 September 2018. The lease falls within the security provisions of the Landlord & Tenant Act 1954 and is fully assignable. Rent currently stands at £35,000 per annum paid monthly in advance, subject to five yearly rent reviews, and annual RPI adjustments. An incoming party with be required to provide a rental deposit to the Landlord of £7,000 in advance. The lease is of partial tie, tied on draught and bottled beers, and ciders free-of-tie on wines, spirits, minerals.
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 permitting the maximum opening hours of:
Monday to Thursday 07:00-01:30
Friday & Saturday 07:00-02:00
Sundays 07:00-23:30
Monday to Thursday 07:00-01:30
Friday & Saturday 07:00-02:00
Sundays 07:00-23:30
Services
All mains services are connected.
Rateable Value: £13,800
Local Authority : Luton Borough Council
Rateable Value: £13,800
Local Authority : Luton Borough Council
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Robert Cockayne
South East & London
