Award-winning country pub for sale

Two Lincolnshire lessees who have reversed the fortunes of their pub, have decided to sell up.

James and Jo Cartwright at the Tally Ho Inn, Aswarby, bought the 15-year leasehold in 2004 and in two years, the outlet has gone from making a loss to making £80,000 a year profit.

The award-winning country inn and restaurant was featured in Egon Ronay's 2006 guide and James said the decision to go smoke-free has boosted trade.

"It's not rocket science. Controlling our costs, buying locally and marketing the pub has brought more trade,"​ said James.

"Banning smoking has been our biggest and most profitable change. When the Government decided to bring in the ban, we decided to go for it. We changed from a pub with food to a restaurant with a bar. You can make more profit from food."​

He said that customer service had also boosted profits.

"If I had a tenner for every person who came in and said they stopped coming because they didn't like the last licensee, I wouldn't need to work,"​ he joked.

Trade is split 56% food, 13% accommodation, 31% wet, and the premises features six en-suite letting rooms, a 40-cover restaurant, and a bar area. The letting rooms are located in a separate stable, dairy and barn.

Cartwright bought the lease for £190,000 back in 2004 and a recent valuation by Guy Simmonds has valued the lease at £250,000. The rent is £17,000 a year and the next review is due in 2007.

"We were surprised to learn how much the lease was worth and we thought we'd see if anyone was interesting in buying it. I will miss it, but surely it's better to end on a high,"​ said James.

The Cartwrights will now concentrate on their consultancy business. Aswarby Estates owns the freehold and agent Guy Simmonds is marketing the pub.