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Bar for sale: The Red Lion Hotel, Market Place, Spalding


Reference: 35574_101505012498

Summary

• Centrally Located and Prominent Listed Historic Hotel• For Sale as a Going Concern• Including all Fixtures, Fittings and Equipment• Strong Accounts Results over Many Years

Description

DESCRIPTION
The Red Lion Hotel has served Spalding for some hundreds of years as one of the most popular and central hostelries in the town. It has been under the same family’s management/ownership for the last 40 years and it is being brought to the market as a result of impending retirement.

Whilst appreciating that present trade is curtailed in view of Covid-19 restrictions, the hotel has, over the years, provided an attractive bar and meeting place with seating in a very central location and when weather permits, additional external seating has been put out in the Market Place.

During the last few years, the dining room facility has been run separately by a third party specialising in Goan Indian cuisine. It immediately adjoins the extensive kitchen which is well fitted and with attendant dry and freezer stores. Further information regarding the dining room facility/arrangement is available upon request.

There is extensive cellarage which is conditioned in the area containing draft ale. This also houses the boilers for the heating system.

The upper floors provide a total of 16 twin or double bedded rooms, all with en-suite shower or bath facilities. In addition, there are other hotel stores and normal facilities.

The Red Lion occupies a prominent and central position in the north east corner of the Market Place right in the centre of Spalding and the sale of the hotel now provides a significant opportunity for an incomer to build on the historical trade which the hotel has enjoyed in normal times.

Spalding lies in the heart of the South Lincolnshire Fens, is renowned as an area for intense horticultural and agricultural businesses and has in the last 50 years, become a national transport hub particularly for the fresh food industry which is very well represented in Spalding.

Road communications are good with easy links to the A1 both to the south via Peterborough, to the west via Stamford or to the north via Grantham and Newark. The A17, which is the main east coast road from Newark to Great Yarmouth is only 8 miles to the north and Spalding is within an hours drive of the Lincolnshire and Norfolk coasts. Rail connections are also available from Spalding to Peterborough and connected to the main East Coast King’s Cross/Edinburgh line.

THE BUSINESS:
The business has been well developed by the present owners and excellent results can be seen from the recent years’ accounts which will be made available in strict confidence to those who are seriously interested in this significant opportunity.


ACCOMMODATION
GROUND FLOOR:

Front entrance leading to:

Bar and Seating Area: 4.72m x 9.1m and 3.57m x 5.85m including bar, servery, wash up and adjacent reception office.
Wood Panelled Restaurant: 9.36m x 5.21m providing approximately spacing for 36 covers.
Rear Fire Door Entrance off
Ground Floor Gent’s WC’s: With full facilities.
Ground Floor Kitchen: 9.77m x 3.11m average – all fully equipped with stores off and fridge area:
3.13m x 2.29m off
Rear Entrance Door/Corridor plus Small Staff Room/Stores and separate WC.

Basement Cellars:
Staircase to Basement Cellars and shoot for beer from Red Lion Street. There are a number of cellars as follows:

1. 7.15m x 4.63m
2. Spirit / Wine Store: 2.72m x 2.91m – racked out.
3. Beer cellar: 4.43m x 3.77m – leading to:
4. 4.58m x 4.35m – leading to:
5. 4.59m x 3.66m with a staircase to front entrance reception.
6. 4.64m x 4.54m (glass and other storage).
7. Boiler Room and Store with two twin gas fired boilers: approximately 4.60m x 4.50m.

FIRST FLOOR:
Main Staircase to Landing with ladies WC facilities off.

Meeting room with large extendable table:
Market Room – Twin bedded room with bath and shower over, wash hand basin and WC.
Bedroom No. 1 – Twin bedded room with bath, shower over, wash hand basin and WC.
Landing:
Bedroom No. 2 – Twin bedded room with shower, wash hand basin and WC.
Bedroom No. 3 – Double bedded room with shower, wash hand basin, WC and air conditioning.
Bedroom No. 4 – Double bedded room with shower, wash hand basin and WC.
Bedroom No. 5 – Double bedded room with shower, wash hand basin, WC and air conditioning.
Bedroom No. 6 – Double bedded room (the Jimmy Hendrix Room) bath with shower over, wash hand basin and WC.
Bedroom No. 7 – Small Double bedded room with shower, wash hand basin, WC and air conditioning.
Linen Room off Landing: L-shaped
Back Staircase.

SECOND FLOOR:
Staircase to Second Floor Landing:

Front Office – L-shaped.
Bedroom No. 21 – Front, Twin bedded room with bath with shower over, wash hand basin, WC.
Bedroom No. 22 – Double bedded room with shower, wash hand basin and WC.
Bedroom No. 23 – Twin bedded room with shower, wash hand basin and WC.
Bedroom No. 24 – Double bedded room with shower, wash hand basin and WC.
Bedroom No. 25 – Twin bedded room with bath and shower over, wash hand basin and WC.

Bedroom No. 26 – Twin bedded room with bath and shower over, wash hand basin and WC.
Bedroom No. 27 – Double bedded room with shower, wash hand basin and WC.
Bedroom No. 28 – Large double bedded room with bath and shower over, wash hand basin, WC and external terrace off providing an attractive sitting out area.

SERVICES
Mains electricity, water, gas and drainage are connected to the Hotel.

OTHER
MAIN EQUIPMENT:
The trade equipment, including fixtures, fittings and furnishings will be included in the sale. There will be certain items excluded and these will be set out with a detailed list to those parties seriously interested after viewing.

WET AND DRY STOCK:
Where appropriate, this will be counted and valued on the day of change over.

TUPE REGULATIONS:
As part of the sale arrangement, it will be necessary for the purchaser to take on existing staff. Full details of these will be provided at the time of viewing.

ACCOUNTS:
Annual accounts will be available for inspection by prior appointment and such information will be provided subject to a Confidentiality Agreement being signed off prior to release.

VAT:
At the present time, no option to tax has been made on the property and therefore as far we are aware, no VAT will be payable over and above the sale price of the freehold property. Should for any reason the vendors elect to waive the exemption to VAT prior to exchange of contracts, then VAT at the prevailing rate (currently 20%) will be payable.

LISTING / CONSERVATION AREA:
The property is Grade 2 Listed and is within the Spalding Conservation Area.

VIEWING
Viewing will be strictly by prior appointment. For additional information prior to viewing, please contact the Commercial Department of R Longstaff and Co on 01775 765536.

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Reference: 35574_101505012498

Contact Agent

Longstaff

5 New Road, Spalding, Lincolnshire, PE11 1BS
Tel: 01775 766766