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Attractive And Traditional Character 16h Century Village Inn

Bodmin, Cornwall, England

  • Leasehold Price: £95,000
  • Annual Turnover: £380,303
Seller Reference: 4770
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Business Description
 
 
 
 
 
 
 
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Seller Reference: 4770
Request Details
Business Description
THE PROPERTY
The Cornish Arms is a substantial and deceptively spacious character Cornish village inn. With origins reputedly dating back to the 16th century, the Cornish Arms is presented to a high standard throughout having been the subject of a comprehensive programme of improvement by our clients over the last 2 years. The inn is renowned for its ambience, retaining much of the original charm and character within a spacious trading environment. This quality high turnover destination village inn and restaurant is highly regarded and briefly comprises: - Main Bar (50+), Lower Bar (15), Snug Bar (12), Coffee Room (12), Breakfast/Dining Room (20), Commercial Catering Kitchen with back up and Ancillary Facilities, 7 quality Ensuite Letting Bedrooms and 2 Double Bedroom Owners Accommodation with Sitting Room and 2 Bathrooms. Externally, the inn has a lawned Beer Garden and Patio Seating Area to the front, offering al fresco seating for 90+ customers, additional Courtyard Seating Area and Smoking Shelter to the rear for 14+, numerous useful Outbuildings and Store Rooms and a Customer Car Park for around 30 vehicles. The Cornish Arms is undoubtedly a very special place in which to live and work, and a viewing is recommended to fully appreciate all that this impressive multi-faceted business has to offer and the further potential that it provides.

SITUATION
The Cornish Arms occupies a prominent and visible trading position in the centre of the popular and accessible Cornish village of Pendoggett, designated an Area of Outstanding Natural Beauty. The North Cornish coastline is around 2.5 miles away at Port Isaac, a historic fishing port famed for its picturesque fisherman's cottages and narrow streets. The village itself has been the stage for various film and television series, most notable being Doc Martin. It is also famous for being the home to the successful shanty singing group The Fisherman's Friends as well as the home of popular chef Nathan Outlaw where he has two establishments holding 3 Michelin Stars. Within a few miles are the beautiful sandy beaches of Polzeath, Daymer Bay and Rock with an abundance of water sport activities, and dramatic coastal walks. Wadebridge is around 6 miles away and is a popular, vibrant and busy town, recently voted one of the top places to live in the UK, by The Sunday Times. Tintagel with its castle and legends of King Arthur and Merlin is also around 6 miles away.

INTERNAL DETAILS
Main customer entrance door to the front leading from the car park into Entrance Vestibule with doors into Lower Bar an attractive character filled room with original slate flooring, beamed ceilings, feature open fireplace, part wood panelled walls, wall mounted menu boards, range of free standing wooden tables, chairs and upholstered window seating for around 15 customers. Through into Snug Bar again an attractive character room with original slate flooring, exposed ceiling timbers, part wood panelled walls, feature seating area with upholstered settle seating, free standing tables and chairs for around 12 customers. Reception Area with timber topped reception desk and Servery. Rear Servery Area with Altro flooring, upright glass fronted wine cooler, wall shelving, glass washer, bean to cup coffee machine, ice machine, stainless steel sink unit, base and wall mounted cupboards. Coffee Room another attractive character room with original slate flooring, exposed ceiling timbers, part wood panelled walls, feature fireplace (disused), range of free-standing wooden tables and chairs for 12 customers. Main Bar Area a spacious character room with flagstone effect concrete flooring, heavily beamed ceilings, part wood panelled walls, wall mounted large screen colour television, feature woodburning stove, darts oche area, extensive range of freestanding wooden tables, chairs, stools, sofas and upholstered settle seating comfortably for 50 customers plus adequate standing room. Bar Servery timber fronted and topped, fitted with associated back bar fittings, optics and display shelving with Altro flooring, triple glass fronted bottle fridge, double glass fronted bottle fridge and EPOS touch screen cash register. Ladies and Gents WC's. Office. Rear Lobby/Waitress Station with worksurfaces, undercounter fridge and door to rear. Breakfast/Dining Room with exposed ceiling timbers, freestanding wooden tables and upholstered wooden chairs comfortably seating 20 customers. Commercial Catering Kitchen with Altro flooring, stainless steel clad walls, fully equipped to a high standard to include a comprehensive range of commercial catering equipment to include:- 6 burner gas range, extractor system with stainless steel canopy over, twin floor standing deep fat fryer, single floor standing deep fat fryer, Rationale combi oven, extensive range of stainless steel work benches with shelving below, stainless steel warming cabinet with serving gantry, further lit serving gantry, saladette, 2 commercial microwave ovens, stainless steel wall shelving, twin bowl stainless steel sink unit, commercial dishwasher and undercounter fridge. Dry Goods Store with 3 chest freezers, 2 upright fridges and racked shelving. Fridge/Freezer store with Altro flooring, upright fridge, upright freezer, stainless steel handbasin, Belfast sink and door to rear. Covered Area with double upright fridge.

Please note: The fittings, equipment and services listed have not been tested by the agents, although we are informed that all items are in working order.

LETTING ACCOMMODATION
The business currently offers 7 individual quality ensuite letting bedrooms on the first floor, each equipped with remote controlled televisions, hairdryers, alarm clock radios with iPod dock and hospitality trays. The bedrooms are all well proportioned and briefly comprise: - Bedroom 1 a large family room (sleeps 4) with Ensuite Shower Room. Bedroom 2 a double room with Ensuite Shower Room. Bedroom 3 a large family room (sleeps 4) with Ensuite Shower Room. Bedroom 4 a triple room with Ensuite Shower Room. Bedroom 5 a double/twin room with Ensuite Shower Room. Bedroom 6 a double room with Ensuite Bathroom with shower over bath. Bedroom 7 a double room with Ensuite Shower Room. House Keeper's Store. Customer WC.

OWNER'S ACCOMMODATION
The Cornish Arms benefits from 2 bedroom owners accommodation, on the first floor which briefly comprises:-Sitting Room a well proportioned room, with feature fireplace and part exposed stone walls. Bedroom 1 a good sized double bedroom with built in wardrobes and an Ensuite Bathroom with shower over bath. Bedroom 2 a good-sized double bedroom with hand basin. Bathroom with shower over bath and Separate WC.

EXTERNAL DETAILS
The Cornish Arms occupies an imposing and prominent village centre position and benefits from a Customer Car Park to the front with space for around 30 vehicles. Adjacent to this is an attractive lawned Beer Garden with wooden garden furniture seating around 80 customers and a small Patio Area directly in front of the pub with seating for around 12 customers. To the rear of the property is an enclosed inner Courtyard Seating Area with covered Smoking Shelter providing seating for around 14 customers. Surrounding the courtyard are 4 Separate Store Rooms, as well as a Wood Store, Utility Room with 2 washing machines, commercial tumble dryer, wall shelving and sink unit, Boiler Room with 2 new oil boilers (replaced in November 2017), Bottle Store with racked shelving, and a Beer Cellar temperature controlled on the ground floor with wall shelving and 6 real ale tilts and dray access to the side.

THE BUSINESS
The Cornish Arms is a renowned and successful traditional character village inn. Being well presented throughout, the business benefits from excellent levels of regular, year-round trade, which is boosted by visitors and tourists to the area throughout the year. Set within a unique and impressive character filled property, the business trades as a traditional country village inn offering an extensive home cooked traditional pub food menu, using local produce, where possible. The business enjoys a healthy mix of food and wet trade together with impressive accommodation revenue. The Cornish Arms is still very much at the centre of the local community and the business also benefits from an influx of tourists, holiday makers and walkers year-round, with a significant increase in the numbers to the area during the busy summer months. The Cornish Arms has received a 5 Star Food Hygiene Rating and a Trip Advisor Award for Excellence. The business benefits from its own website www.cornisharmspendoggett.co.uk which provides further background on the business and our clients also use well known online booking portals for the letting accommodation. The business trades from 11.30am until close 7 days a week with food being served between mid-day and 2.30pm and 5.30pm and 8.30pm. The sale of the Cornish Arms represents an excellent opportunity to purchase a well-regarded high turnover village inn with quality letting accommodation, the like of which seldom comes to the market. Additionally, the inn has been extensively refurbished by our clients during the last 2 years at a cost of around £50,000 and is unfortunately offered for sale due to ill health. The Cornish Arms is undoubtedly a very special place to live and work and a formal viewing is essential in order to fully appreciate all that this quality business and property has to offer.

TRADING INFORMATION
Accounts for 31st March 2018 show sales of £380,303 net of VAT with strong reconstituted net profits. Sales for the year ending 31st March 2019 are expected to be in the order of £500,000 including VAT. The current split of trade is 46% wet sales, 33% food sales and 21% bed and breakfast income. Full detailed trading information can be made available to interested parties following a formal viewing appointment.

CURRENT STAFFING
The business is owned by our clients, a husband and wife team, however due to ill health, currently only one of theowners is in involved in the day to day running of the business. 4 full time and 8 part time members of staff are employed, plus additional casual and seasonal staff as trade levels dictate.

POTENTIAL
Our clients advice that there is potential and opportunities to develop all aspects of the business still further and for continued growth in trade levels and to maximise all available income streams and build upon the impressive levels of trade already being achieved.

SERVICES
Mains electricity and water. Private drainage. LPG is used for cooking and oil is used for central heating and hot water.

EPC
C-65.

RATING
The business has a rateable value of £24,250 and the non-domestic rates payable for the year 2019/20 are £7,937.83, after discounts.

PRICE & TENURE
£95,000 for the valuable free of tie leasehold interest as a going concern business and full trade inventory. Wet and dry stocks to be additional at valuation. Vacant possession upon completion.

The business is offered for sale on a fully renewable 10 year fully repairing and insuring lease which commenced in September 2017. The lease is completely free of tie and the current rent is £55,000 per annum. Rent reviews are every 3 years and are RPI linked and rent is payable quarterly in advance. Full details are available upon request.

VIEWINGS
Strictly by appointment with the vendors Sole Selling Agents.Tel:(01392)201262.Email:info@stonesmith.co.uk
You are recommended to contact us before visiting the property even for an informal viewing. We can then confirm whether or not it is still available.

Trading hours:
. The business trades from 11.30am until close 7 days a week
Number of employees:
12
Tenure:
Leasehold
Is accommodation included?:
Yes
Number of bedrooms:
9
Location Details:
The Cornish Arms occupies a prominent and visible trading position in the centre of the popular and accessible Cornish village of Pendoggett, designated an Area of Outstanding Natural Beauty. The North Cornish coastline is around 2.5 miles away at Port Isaac, a historic fishing port famed for its picturesque fisherman’s cottages and narrow streets.
Leasehold Term:
The business is offered for sale on a fully renewable 10 year fully repairing and insuring lease which commenced in September 2017. The lease is completely free of tie and the current rent is £55,000 per annum. Rent reviews are every 3 years
Is this business home based:
Yes
Listed by:
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