Public Houses for sale in Padstow

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17th Century Inn & Restaurant With Letting Rooms Located In St Issey

Padstow, Cornwall, England

  • Leasehold Price: £69,500
  • Annual Turnover: £251,028
  • Annual Gross Profit: £140,633
Seller Reference: 2194
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Business Description
 
 
 
 
 
 
 
 
 
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Seller Reference: 2194
Request Details
Business Description
Veritas Business Sales are delighted to offer for sale this well respected Pub & Restaurant with letting rooms which is located in St Issey near of Padstow. The business dates back to the 17th century and has been in the careful hands of our clients for the past 13 years and is reluctantly being offered for sale so that they can enjoy a well deserved retirement.
Since ownership they have continually redeveloped, refurbished and invested in new equipment along with fixtures
& fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. The business is owner operated and requires the help of 2 full time and 3 part time members of staff and has an annual turnover of £251,028 with a gross profit of £140,633 (56%). The Ring O Bells serve quality fine ales with wet sales equating to 55% of the annual turnover, food sales are 35% where they serve good honest home cooked fayre which is freshly prepared to order on site using the finest locally sourced produce. The remaining 10% comes from the tastefully decorated letting rooms that benefit from flat screen TV’s and tea & coffee facilities. We believe that there is further potential to increase trade should you wish as the 4th guest bedroom is currently a store room and not being utilised. The business enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with many visiting tourists. This is a superb opportunity to purchase an established lifestyle business and as such early viewing is highly recommended as this business is not to be missed.
Trading hours:
Lunch Monday – Friday – Midday – 2.30pm Evening Monday – Friday – 6.00pm – 11.00pm Saturday & Sunday – Midday – 11.00pm
Tenure:
Leasehold
Is accommodation included?:
The owners’ accommodation is arranged over the first floor benefitting from. Lounge Bedroom 1 Bedroom 2 Bathroom Kitchenette Landing area  
Location Details:
This successful Pub & Restaurant is located in the stunning village of St Issey which is just 2 miles south of Padstow and 4 miles west of Wadebridge on the A389. Positioned on a corner opposite the parish church the Ring O Bells known locally as ‘The Ringers’ dates back to the 17th century and is one of the oldest inns in the area. In more recent times the pub featured prominently in ITV’s ‘Cornwall with Caroline Quentin’. St Issey is said to be one of the most desirable places to live in the South West.
Leasehold Term:
EI publican Partnership Lease Original term: 30 years Remaining: 13 years Rent: £24,577 pa plus VAT Rates: £10,500 pa Free of tie on spirits, wines, minerals & packaged products.
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