• HISTORIC WET LED PUBLIC HOUSE
Price:
Leasehold - £79,950
Location:
Cornwall, Hayle
• LARGE BAR, DINING AND ENTERTAINMENT AREAS
• SUBJECT TO RECENT COMPREHENSIVE REFURBISHMENT
• EXTENSIVE OWNERS AND STAFF ACCOMMODATION
• SEVERAL STORES, TRADE GARDEN, AND LARGE CAR PARK
• ROLLING RENEWABLE LEASE
• CONSISTENT SALES AND PROFITABILITY
• INTERNAL VIEWING HIGHLY RECOMMENDED
PROPERTY / BUSINESS
The Copperhouse Inn is a substantial terraced two-storey property dating back to the 1791, with later extensions to the rear. The property is broad fronted and comprises a large principal bar, leading to a games area and outside terrace, with a smaller bar/seating area off. To the rear of the property is a well equipped commercial kitchen, leading to a store, which has a separate access to the rear; which could be useful at functions etc.
Accessed via the principal bar is the extensive owners’ accommodation which leads onto a private terrace, which can also provide separate access to the rear. Also, in addition is the 3-bedroom further owners/staff accommodation which is accessed via the rear courtyard.
To the rear of the property is a large car park and lawned trade garden.
The business is held by way of a 3-year rolling Trust Inns Lease within The Landlord and Tenant Act 1954 (meaning the Lease is automatically renewable at the end of the period) on an internal repairing and insuring basis, at a current passing rental of £38,500 per annum. We understand The Copperhouse Inn has traded for over 200 years and has been in our clients’ tenure for the past 4 years (who are now selling for personal reasons). The business trades all year and we are advised has licensed hours from 8.00 a.m. to 1.00 a.m. from Monday through to Sunday. (The current opening hours are from 11.00 a.m. to 12.30 p.m.).
The business is principally wet lead, with approximately 95% wet, however, given the outside space and the well equipped commercial kitchen, it is considered there is capacity to increase the food trade.
We are advised the trading profit and loss account for the year ended May 2010 showed net sales of £419,515, producing a gross profit of 48.4% and an adjusted net profit of £38,541 (after deducting normal overheads plus wages of £63,278). Further accounting information will be made available subsequent to a viewing appointment in the normal manner.
The Copperhouse Inn is situated on Fore Street in Hayle, which is a thriving and popular town with two defining areas, namely Copperhouse and Foundry, both of which denote the town’s rich engineering past. Today, Hayle has a thriving business community as well as a seasonal influx from neighbouring campsites; being adjacent to a number of beaches that sweep around from the St Ives Bay through the Hayle estuary and up to Godrevy lighthouse.
We understand at the time of writing that work has commenced on a mixed-use commercial scheme for the historic Hayle Harbour, which when it is finished will bring much prosperity and prominence to the town.
Hayle has all the usual amenities, including primary and secondary education, niche and multiple retailers and a mainline railway station.
3-year rolling Trust Inns Lease within the Landlord & Tenant Act 1954 on an internal repairing and insuring basis, at a current passing rental of £38,500.
North Yorkshire
£ 750,000
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