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Exceptional High Turnover Character Free of Tie Village Inn

Okehampton, Devon, England

  • Leasehold Price: £89,950  Price Reduced arrow_drop_down
  • Annual Turnover: £394,776
Seller Reference: 4786
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Business Description
 
 
 
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Seller Reference: 4786
Request Details
Business Description
THE PROPERTY
The New Inn is an extremely well presented substantial and deceptively spacious character Grade II Listed thatched village freehouse which occupies a prominent landmark trading position. This impressive detached thatched character FREE OF TIE leasehold property is located adjacent to the A3072 main road and is a popular village freehouse and destination public house. This well appointed and well regarded free of tie village inn retains many attractive character features and comes fully equipped with an extensive inventory of quality fixtures and fittings. The business briefly comprises:- character Main Bar (50+), Restaurant and Dining Room (30), impressive and extremely well equipped Commercial Catering Kitchen with extensive backup and ancillary facilities, a well presented and spacious family sized Owners Accommodation offering 3 Bedrooms, Sitting Room, Kitchen/Dining Room with a fully fitted kitchen and integrated appliances and a Shower Room. Externally, the property is set in approximately 2.5 acres of grounds which incorporates a large Paddock Field, Customer Car Parking to the rear for 30 plus vehicles. Further Parking on the opposite side of the road, lawned Trade Gardens (48), and a smaller Paddock Field along with various useful outbuildings and stores. An internal inspection is strongly recommended in order to fully appreciate all that this deceptively spacious and superior FREE OF TIE pub has to offer.

SITUATION
The New Inn occupies a prominent and landmark trading position adjacent to the A3072 midway between Hatherleigh and North Tawton. The New Inn is the only pub in the village of Sampford Courtenay, which is a delightful and unspoilt Devon village which is conveniently located approximately 5 miles from the nearby town of Okehampton which offers an excellent range of shops and services including Waitrose Supermarket and from Okehampton there is direct access to the A30 dual carriageway to the Cathedral and University City of Exeter with its M5 motorway connections, a mainline rail link to London and international air connections. Dartmoor National Park is also within 5 miles offering many opportunities for riding, walking and outdoor pursuits. There is also comparatively easy access to the North and South Devon coasts with their attractive beaches and delightful coastal scenery.

INTERNAL DETAILS
Customer entance doors to both the front and the rear. Rear entrance leading from car park and beer garden into Glazed Entrance Vestibule with carpeted flooring, settle seating and Disabled WC with baby changing facilities off. Door into Main Bar an attractive character trading area with many original features including heavily beamed ceilings, exposed wall timbers, 2 original open fireplaces, one with woodburner, part quarry tiled and part carpeted flooring, range of free standing wooden tables, chairs, bar stools, settles, window seating and comfy sofas beside the fireplace providing seating for around 50 customers plus adequate standing room. The trade areas are serviced by a substantial timber fronted and topped return Bar Servery fitted associated back bar fittings, display shelving and optics with Altro flooring, EPOS touch screen cash register with printer link to kitchen, double glass fronted bottle fridge, single glass fronted bottle fridge, coffee machine, coffee grinder, glasswasher, stainless steel sink unit and 4 real ale barrel tilts with cooling jackets. Restaurant & Dining Area two interlinked rooms with carpeted flooring, feature fireplace with inset woodburning stove, wall mounted menu boards, part exposed ceiling timbers, range of free standing wooden tables and chairs comfortably seating 30 customers. Ladies & Gents WCs. Commercial Catering Kitchen with panelled walls and Altro flooring and being equipped to an extremely high standard with a comprehensive range of commercial catering equipment to include:- extractor system with canopy over and gas interlock, 6-burner range, flat topped griddle, twin floor standing deep fat fryer, stainless steel wall shelving, single deep bowl stainless steel sink unit, stainless steel hand basin, saladette, 3-door under counter commercial fridge unit, Lincat grill. warming cabinet with inset bain-marie, under counter fridge, 2-door under counter commercial fridge unit, 4 commercial microwave ovens, 2 under counter freezers, stainless steel racked shelving, stainless steel deep bowl sink unit, commercial dishwasher, stainless steel workbenches with shelving below. Dry Store with panelled walls and Altro flooring, 2 upright commerecila fridges, upright commercial freezer. Beer Cellar temperature controlled on the ground floor with Belfast sink. Utility Room with washing machine, tumble dryer, fridge freezer, ice machine, upright freezer and racked shelving.

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.

PRIVATE ACCOMMODATION
Situated on the first floor is the generous and well proportioned owners private accommodation which briefly comprises:- Sitting Room a good sized room with fireplace. Kitchen/Dining Room fitted with a range of base and wall mounted kitchen units with complementary worksurfaces, inset sink, built in electric hob and oven. Bedroom 1 a good sized double bedroom with aspect to the side and rear. Bedroom 2. a good sized double bedroom with aspect to the side which could be converted into 2 single bedrooms. Bedroom 3 a single room with aspect to the front. Shower Room with large shower cubicle, WC and hand basin.

EXTERNAL DETAILS
The pub occupies a plot of approximately 2.5 acres which incorporates an Enclosed Courtyard Area with open fronted thatched store shelter housing walk-in fridge, 2 chest freezers and an upright commercial fridge. Storage Barn/Workshop. Bottle Store. To the rear the property provides a tarmacadam Car Park for 30 plus vehicles with adjacent large fenced Customer Beer Garden being laid to lawn with al fresco seating for 48 customers. To the opposite side of the car park is a Small Paddock Field with potential for additional parking, subject to the appropriate consents. A footbridge over the stream to the side of the beer garden leads to a Further Paddock Field of around 1 acre. A car park to the south side of the A3072 is by way of a separate agreement and provides additional customer parking space for around 15 vehicles.

THE BUSINESS
The New Inn is an extremely popular FREE OF TIE destination and village pub restaurant which is extremely well presented throughout and offers extensive character trade areas. The New Inn is renowned for its high quality freshly prepared home made menu using the best available local ingredients from local suppliers. This attention to detail has ensured that the business enjoys excellent levels of regular repeat trade and an excellent local following not only from the village but also from the surrounding towns and villages, together with a seasonal boost during the peak summer months. The business benefits from a 5 Star Food Hygiene rating and the inn also has its own website which provides further background information on the business. This is an extremely well-presented business which benefits from impressive levels of year-round trade and which has been in the current ownership for 8 years. The sale of The New Inn represents an exceptional opportunity to purchase a well regarded and well supported FREE OF TIE food led country pub and restaurant with impressive owner's accommodation in a sought-after part of the South West. The New Inn is undoubtedly a very special place in which to live and work and a viewing is essential in order to fully appreciate all that this high specification freehouse has to offer.

TRADING INFORMATION
Accounts for the year ending 31 March 2019 show sales of £394,776 excluding VAT with a trade split of approximately 70% food sales and 30% bar sales. Full detailed trading information can be made available to interested parties following a formal viewing appointment.

OPENING HOURS
The New Inn trades from midday until 3:00pm and 6:00pm until 11:00pm Monday to Friday and from midday until midnight on Saturday, and from midday until 10:00pm on Sundays.

CURRENT STAFFING
The pub is run by a husband and wife team with 3 full-time and 6 part-time members of staff.

POTENTIAL
Our clients advise us that there is potential develop the trade still further and build on the impressive trade levels that are already being achieved, with particular opportunities to introduce an all day food service, for which demand exists.

EPC
Listed building and therefore exempt.

RATING
For up to date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office website

SERVICES
All mains services, with the exception of mains gas, are connected to the subject property. LPG is used for cooking and heating.

PRICE & TENURE
£89,950 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 New Inn is held on the remainder of a 15 year FREE OF TIE Heavitree Brewery Plc lease which commenced in May 2009 with a current rent of £30,000 per annum plus VAT. Rent reviews are every 3 years. We are advised that the lease is fully renewable at the end of the current term. Full details available upon request.

VIEWINGS
Strictly by appointment with the vendors Sole Selling Agents.Tel: . Email:
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.

FINANCE
An early discussion about finance can often save time and disappointment. If you would like independent specialist advice on funding this property or any other purchase, we recommend you contact us for a list of our approved brokers.
Number of employees:
9
Tenure:
Leasehold
Is accommodation included?:
Yes
Number of bedrooms:
3
Location Details:
The New Inn occupies a prominent and landmark trading position adjacent to the A3072 midway between Hatherleigh and North Tawton. The New Inn is the only pub in the village of Sampford Courtenay, which is a delightful and unspoilt Devon village which is conveniently located approximately 5 miles from the nearby town of Okehampton which offers an excellent range of shops and services including Waitrose Supermarket and from Okehampton there is direct access to the A30
Leasehold Term:
The New Inn is held on the remainder of a 15 year FREE OF TIE Heavitree Brewery Plc lease which commenced in May 2009 with a current rent of £30,000 per annum plus VAT. Rent reviews are every 3 years.
Listed by:
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