£1m turnover pub for sale
A Surrey gastropub with a turnover in excess of £1m has come on to the market. The Percy Arms is located in the village of Chilworth, three miles from Guildford.
The pub is currently a family-orientated business serving an extensive menu of steak, seafood and traditional dishes. The pub has a display counter where different types of steak are cut to order.
The quoted turnover is in the region of £1.02m net of VAT and the trade split is 65:35, in favour of food. The Percy Arms is a detached two-storey property comprising a lounge bar, 62-cover restaurant, 34-cover lower dining room, 40-cover function room and five-bedroom staff accommodation.
Tonya West, of Christie+Co, said: "This sale presents a great opportunity to acquire a high-turnover gastropub in a beautiful country setting within the Surrey Hills."
The current lease from Greene King runs until 2018 and the current annual rent is £85,000. Agent Christie+Co is seeking £475,000 for the leasehold business.
The pub has been placed on the market by Ted Docherty, of the Tailor Made Pub Company, who also owns the Sun Inn in Rake, near Petersfield, and the Inn on the Hill in Haslemere.
The Percy Arms has been owned by the company for four years and is currently operated under management. Docherty said: "We're selling the business to fund company growth. We've got a new concept in mind, but no site lined up at present."
