To be fair, is it 20 years at Poole, something like that anyway. He probably does have a few bob, and a guest house( or whatever he owns) in Dorset must be worth a good bit.
Like the bloke or not, I don't think there are many out there who would say 20 years service don't deserve something, if it is that long?.
A good gesture, like you mention would be great. But what he does with it is up to him.. He might want to expand his business, set a family member up in business etc.