Bolton Retail for Sale
An established independent restaurant + bar Impressive open plan trading area with approximately 220 covers External seating providing approximately 130 additional covers Extensive ancillary areas Detached bungalow available by separate negotiation High quality trading offer including recent extensions Planning consent for function room extension Car park with approximately 100 spaces Net turnover for Y/E 31/08/2024 £3,265,986
An impressive, highly regarded family owned restaurant and bar serving classic British food in a smart and stylish setting.
The Cherry Tree Restaurant & Bar is a popular destination venue, well located on the A6 Chorley Road with more than 350,000 living within a 10km radius of the business. The Cherry Tree has been developed and improved by it's current owners, having formally traded as a traditional public house. The business which operates with a full complement of staff currently trades as a venue offering a high quality dining and drinking experience.
The venue is situated in Blackrod, which is within the Metropolitan Borough of Bolton, in a prominent trading position on the A6 Chorley Road, approximately 6 miles from Chorley Town Centre and just over 8 miles from Bolton. Junction 6 of the M61 motorway is located just over 3 miles away at Horwich. The property is conveniently located close to the neighbouring suburbs of Blackrod, Horwich, Adlington and Chorley.
The detached single storey property is of traditional construction with rendered elevation under pitched, tiles and felt roofs. There have been various extensions over the years, the most recent of which was the addition of the garden room, which was added in March 2020 and provided an additional 100 covers.
The property is approached from it's main entrance to a reception area from which there is access to all of the public trading areas.
Lounge Bar with seating for approximately 60 guests with additional attractive feature bar servery and modern furnishings and décor.
The main restaurant is air conditioned and decorated/fitted out to the same high standard as the bar and provides approximately 160 covers in various areas. There is an additional feature bar in the main restaurant area which is used as a service bar. The rear dining area, which was completed more recently, benefits from a retractable roof system and sliding doors so that diners can enjoy the sunshine on brighter days.
The business provides outdoor seating with a further 92 covers on a rear terrace and 42 covers to the front of the property.
The Cherry Tree has a wide range of modern back of house facilities and amenities to support the day to day running of the business including:
Ladies, gents and accessible WCs Commercial catering kitchen including preparation area, still and wash-up areas Cold and dry store facilities Beer cellar with spirits and wine store Administration office Cleaning stores Boiler and plant room
We understand that the site extends to approximately 1.189 acres (0.481 hectares).
The property is approached via access to an extensive lined tarmacadam car park with space for approximately 100 vehicles. There is a further extensive overfill parking area to the rear of the premises.
In addition to the established trade, the business offers an ingoing purchaser the opportunity to increase and further develop trade by taking advantage of a planning consent to purchase and demolish an adjacent bungalow which is owned by our clients. This could provide an excellent opportunity to develop the trade by offering weddings, functions and other events. The extension could generate additional income, providing a further 80 covers with separate access, an additional independent bar, ladies and gents and accessible WCs and food preparation area.
The adjacent bungalow, which is available by separate negotiation, is a well presented, detached single storey property which comprises an entrance hall, sitting room/dining room, fitted kitchen, 3 bedrooms, bathroom and a small enclosed private garden.
The Cherry Tree Bar & Restaurant has an enviable reputation and is situated in an excellent trading location making it a very popular destination venue.
Accounts provided by our clients show that the business generated a net turnover of £3,265,986 for the Y/E 31/08/2024 with a gross profit of £2,207,027 (67.6%).
The business rates are payable to Bolton Council. We understand that the rateable value for the year commencing 1st April 2023 is £33,000.
At the time of our inspection, the property was connected to mains electricity, gas, water and drainage.
We understand that the property has a valid consent for its current use. We have been advised by our clients that the property has the benefit of a planning consent which was passed on 30 October 2023 to demolish the existing owners bungalow and replace this building with a function room/venue including a bar and ancillary areas including ladies, gents and accessible WCs. We would advise interested parties to make their own enquiries with the local panning authority (Bolton Council) in this regard.
We are advised that the the hotel benefits from a premises licence.
We are advised that all of the fixtures, fittings and other items associated with the running of the business will be included in the sale, with the exception of any items that might be leased on finance, details of which can be provided on request. Prospective purchasers should satisfy themselves that that all equipment is in full working order before completion.
The freehold interest in The Cherry Tree Restaurant & Bar is being offered for sale as a going concern bar and restaurant business together with it's parent company GLT Management Limited (04880490) by way of a share sale transaction off an asking price of £1,950,000. Alternatively the Property is available as a going concern leasehold business with an Ingoing Premium of £500,000 at an annual rent of £125,000 per annum for a new 15 year lease.
