The Punch Bowl Inn, a traditional pub and restaurant situated on the Cleethorpes seafront in Lincolnshire, has been brought to the market through Christie & Co, with a freehold asking price of £550k.
The pub comprises a 120-cover bar and restaurant, plus an entertainment area with a pool table on the ground floor. The first floor features a private function room which can cater for 120 guests, and on the second floor is two-bed owner’s accommodation with its own lounge and kitchen.
Due to its prominent position on the Cleethorpes promenade, the business receives high levels of footfall, catering to locals and visitors from further afield who are drawn to the seaside resort, particularly during the summer months.
Cleethorpes is a popular destination, having won a number of national awards over the years including the Seaside Award, which celebrates the best beaches in the UK and the Blue Flag Award, which recognises the best maintained and environmentally friendly beaches.
Having been under the same ownership for over 30 years, the Punch Bowl Inn has hosted many events and weddings and is hugely popular and well known in the area. Current owners, Bernard and Sheila Stafford are now looking to sell the freehold in order to retire.
Matthew Hendry, Business Agent at Christie & Co, is handling the sale and commented, “The Punch Bowl is an attractive and exciting opportunity to continue and build upon the foundations laid by Bernard and Sheila. Its location in Cleethorpes, on the seafront, offers a new owner the chance to enjoy this lifestyle business, with scope grow and make it their own.
“There is plenty of opportunity to increase trade through weddings and events, while continuing to accommodate for the local trade. The business also offers huge potential to increase revenue with the function room, as well as introducing new and refreshing ideas.”