HERTFORDSHIRE - TOWN CENTRE FREE HOUSE & BREWERY
Hertford, Hertfordshire
Ref: 47025
£675,000
Freehold
1 / 6
Key Features
Location
Hertford is the county town of Hertfordshire and houses a large population in the region of 27,000 residents. Being only 20 miles north of central London, and connected to it by two railway lines, Hertford continues to grow as one of the region’s most desirable commuter hotspots and employment hubs. The town, fortified after the Norman conquest, still boasts a medieval layout with many character buildings, particularly along St Andrew Street on which the Old Cross Tavern sits. The town retains an affluent country-town feel yet houses a diverse range of national and local businesses.
The Old Cross Tavern is a prominent and eye catching three-storey property commanding a central position along St Andrew Street. This Grade II listed property is understood to date back to the late 17th Century and is of red brick construction with Flemish bond under a Welsh slate roof. It has been well maintained throughout and retains many character features including exposed timbers and original brickwork.
The Old Cross Tavern is a prominent and eye catching three-storey property commanding a central position along St Andrew Street. This Grade II listed property is understood to date back to the late 17th Century and is of red brick construction with Flemish bond under a Welsh slate roof. It has been well maintained throughout and retains many character features including exposed timbers and original brickwork.
Property
TRADE AREAS
The property comprises: -
- BAR presented with stripped wood flooring, two open brick fireplaces and exposed timbers, creating a warm and welcoming atmosphere. The bar is serviced by a wood built bar servery which houses eight hand pulls, six draft taps, bar washer and upright chiller. The bar provides seating for 26 with room for more standing.
- MICRO BREWERY with mash tuns, fermenting vessel and copper.
- GENTLEMENS TOILETS.
- Two LADIES TOILETS.
- BASEMENT CELLAR with new cellar cooling system and pipes. Electronic barrel winch provides easy servicing from the ground floor.
OWNERS ACCOMMODATION
Located at first and second floor levels there are TWO FLATS currently utilised as one maisonette. The accommodation benefits from its own entrance from the side of the property. Comprising: -
FLAT ONE
- LIVING ROOM
- KITCHEN
- BATHROOM
- DOUBLE BEDROOM
- SINGLE BEDROOM/OFFICE.
FLAT TWO
- KITCHEN
- UTILITY ROOM
- SHOWER AND WC ROOM
- DOUBLE BEDROOM
- LIVING ROOM/DOUBLE BEDROOM
EXTERNAL
To the rear of the property there is a unique enclosed TRADE PATIO which is fully covered and heated. This area provides seating for 20.
The property comprises: -
- BAR presented with stripped wood flooring, two open brick fireplaces and exposed timbers, creating a warm and welcoming atmosphere. The bar is serviced by a wood built bar servery which houses eight hand pulls, six draft taps, bar washer and upright chiller. The bar provides seating for 26 with room for more standing.
- MICRO BREWERY with mash tuns, fermenting vessel and copper.
- GENTLEMENS TOILETS.
- Two LADIES TOILETS.
- BASEMENT CELLAR with new cellar cooling system and pipes. Electronic barrel winch provides easy servicing from the ground floor.
OWNERS ACCOMMODATION
Located at first and second floor levels there are TWO FLATS currently utilised as one maisonette. The accommodation benefits from its own entrance from the side of the property. Comprising: -
FLAT ONE
- LIVING ROOM
- KITCHEN
- BATHROOM
- DOUBLE BEDROOM
- SINGLE BEDROOM/OFFICE.
FLAT TWO
- KITCHEN
- UTILITY ROOM
- SHOWER AND WC ROOM
- DOUBLE BEDROOM
- LIVING ROOM/DOUBLE BEDROOM
EXTERNAL
To the rear of the property there is a unique enclosed TRADE PATIO which is fully covered and heated. This area provides seating for 20.
The Business
The Old Cross Tavern was established in 1999 and has become one of the towns most favored public houses. The business is well known for its ever changing and wide array of cask ales, craft beers and Belgium bottled beers.
The business is well supported by the local community and boasts a loyal local drinking trade, from a wide range of ages. The business is also well supported by local community groups such as the rugby club, football teams and cricket club. The Old Cross Tavern is a multiple winner of CAMRA awards and ever present in the Good Beer Guide since 2000.
The business is focused on great ale and good conversation, with no TV’s, games machines or piped music, boasting the slogan “Pubs The Way They Used To Be”.
Trade profit and loss accounts for the partial trading year ending March 2022 show a net turnover of £216,016, producing a gross net profit of 32% after wages. This in turn generates an adjusted net profit of £55,913. Trade forecasted for the year ending March 2023 show a net turnover of £280,000 generating a forecasted adjusted net profit of £83,115.
The Old Cross Tavern, although a long established and popular business, offers great potential for a new operator to take it to the next level. At present brewing on site is on hold and could be easily reinitiated. Furthermore, a new owner could introduce events such as quiz nights as well as increasing the current marketing budget.
A new owner could well let the two flats above to create an additional rental income.
The business is well supported by the local community and boasts a loyal local drinking trade, from a wide range of ages. The business is also well supported by local community groups such as the rugby club, football teams and cricket club. The Old Cross Tavern is a multiple winner of CAMRA awards and ever present in the Good Beer Guide since 2000.
The business is focused on great ale and good conversation, with no TV’s, games machines or piped music, boasting the slogan “Pubs The Way They Used To Be”.
Trade profit and loss accounts for the partial trading year ending March 2022 show a net turnover of £216,016, producing a gross net profit of 32% after wages. This in turn generates an adjusted net profit of £55,913. Trade forecasted for the year ending March 2023 show a net turnover of £280,000 generating a forecasted adjusted net profit of £83,115.
The Old Cross Tavern, although a long established and popular business, offers great potential for a new operator to take it to the next level. At present brewing on site is on hold and could be easily reinitiated. Furthermore, a new owner could introduce events such as quiz nights as well as increasing the current marketing budget.
A new owner could well let the two flats above to create an additional rental income.
Tenure
FREEHOLD £675,000 to include goodwill, fixtures and fittings. Stock at valuation in addition.
No direct approach to be made to the business; please direct all communications through Sidney Phillips.
Viewing strictly by appointment only.
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.
EPC
Grade II listed.
EPC
Grade II listed.
Services
All mains services are connected.
Local Authority: East Hertfordshire District Council, Wallfields, Pegs Lane, Hertford, SG13 8EQ
Telephone: 01279 655261
Rateable Value: £24,750
Local Authority: East Hertfordshire District Council, Wallfields, Pegs Lane, Hertford, SG13 8EQ
Telephone: 01279 655261
Rateable Value: £24,750
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Robert Cockayne
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