Key Features
Location
Wine Vaults is a Grade II Listed traditional public house located on the High Street of Kington. It appears to be constructed in the main of stone and brick with rendered and colourwashed elevations, having outbuilding to the rear which has been partially converted to the Arrow Brewery. The public house is reputed to be one of the oldest in the town centre and dates from circa 18th Century. It currently operates as a traditional public house offering wet sales only and being the sole purveyor of Arrow Brewery Beers.
The property holds a prominent location in the town centre fifty yards from the Market Hall, set among a number of retail and residential properties. The popular market town of Kington is surrounded by spectacular countryside to the west of Herefordshire at its border with Powys. It sits on the banks of the River Arrow and is adjacent to Offas Dyke Path, in the shadow of Hergest Ridge. The town is also close to the main A44 trunk route which links West Wales Coast with The Midlands and, despite being a small market town, it serves a much wider rural area being the main commercial centre.
Property
GROUND FLOOR
ENTRANCE LOBBY providing access to the open plan PUBLIC BAR with partially beamed ceiling, stripped wood effect floor, partially wood panelled walls. Two fireplaces. The room is arranged around a central ‘horseshoe’ shaped wood panel fronted bar counter and provides seating for approximately 30 customers. Darts area.
OWNERS ACCOMMODATION
FIRST FLOOR & SECOND FLOOR
PRIVATE ACCOMMODATION (currently rented independently of the public house) providing LOUNGE, KITCHEN, TWO DOUBLE BEDROOMS AND BATHROOM.
EXTERNAL
Gated access to the side of the property leading to rear TRADE GARDEN with direct access from the public bar and having a number of tables and chairs for approximately 40 customers.
Stone constructed former BARN/STABLE, housing LADIES AND GENTLEMEN’S TOILETS and a LARGE STOREROOM. Also home to the Arrow Brewery providing a large area with five barrel capacity plant and coldroom.
The Business
Our clients purchased the business in 2004 and have always operated as a traditional public house offering wet sales only. They have also developed Arrow Brewery and the Wine Vaults is the sole purveyor of their beers. Since 2016 our client has reduced the trading hours of the business as they have started to work towards retirement. At present opening between the hours of 3.00 pm until 11.00 pm Monday to Thursday. 3.00 pm until 01.00 am Friday. 11.00 am until 01.00 am Saturday and noon until midnight Sunday. They currently support two darts teams, a coit and crib team. They also have a beer festival at the property.
Prior to decreasing the trading hours, for the year ending March 2015 our clients accounts provide proof of turnover of £120,000, net of VAT with a healthy level of net profit circa £30,000. However, since reducing the operating hours trade has slightly diminished and to compound this they have also increased their overheads through wages, as are less active in the business.
The financial accounts for the year ending 31st March 2016 show net sales of £94,627, working on a gross profit of some 42%. With adjustments there is a small net profit. It is clear from the auditors accounts (which can be provided) that should new invigorated owners increase trading times and trim staff costs the business can easily achieve previous levels of sales.
Tenure
FREEHOLD £215,000 to include fixtures, fittings and goodwill. Stock at valuation in addition.
No direct approach to be made to the business, with all communications directed through Sidney Phillips.
Viewing strictly by appointment only.
Licence
A Premises Licence is held for the supply of alcohol between the hours of 10.00 until midnight Monday to Thursday, 10.00 am until 01.00 am Friday to Sunday.
Services
All mains services are connected.
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