Description

The Cat Inn, Egremont.
Historic Grade II Freehold Public House/B&B (free of tie)
Ref. AC352
Location : Egremont, Cumbria
Asking Price : £219,000
A rare opportunity has arisen to acquire this well-established and popular public house with letting accommodation located in the bustling market town of Egremont, Cumbria.

The business was originally established in 1789 and has been in our client s careful ownership since February 2015. The business is only being offered to the market due to our client s unfortunate health problems. The sale comprises the freehold property with estimated market value circa £200-240,000 and the business within it. The business operates 7 days per week and we are advised generates a turnover in the region of £225,000 per annum, with a gross profit of approximately 60%.

The turnover is derived from the free of tie public house, which offers a wide range of beers, lagers, spirits and soft drinks. Our client also offers 6 letting rooms, which are currently occupied on a short term basis by contractors working at Sellafield, which is only approximately 5 miles away.

The property has been maintained to a very high standard and all the letting rooms are decorated to a very high standard throughout. After our client purchased the property it was completely refurbished. The refurbishment programme finished in February 2016.

We are advised that the government recently announced that £2.5 billion will be invested in Sellafield Nuclear Station refurbishment, also a new nuclear power station will be built at the same time in the same area. Copeland Council has already started investing in new housing, a shopping centre and other additional services to the community. The project is estimated to last until the end of 2027. Therefore there has been a significant increase in property prices in the area. It is also expected that the local population will grow substantially during that time.

Posted Nov 5, 2016

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