Public Houses for sale in Tintagel

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Leasehold Freehouse/Restaurant & Inn Located In Tintagel

Tintagel, Cornwall, England

  • Leasehold Price: £99,950
  • Annual Turnover: £421,271
Seller Reference: 2337
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Business Description
 
 
 
 
 
 
 
 
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Seller Reference: 2337
Request Details
Business Description
Veritas Business Sales are delighted to offer for sale this stunning Public House/Restaurant & Inn which is located in Tintagel. The property has been a major feature in village for many years and has been in the careful hands of the current owners for the past three years. The business is now being offered for sale so that our clients can enjoy a well deserved retirement. Since ownership they have kept the property in good order and continually invested in new equipment along with fixtures and 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 Cornishman Inn is operated under management with the help of 3 full time and 5 part time members of staff and has an annual turnover of £421,271. Approximately 42% of turnover comes from wet sales where you have 3 separate bar areas and offer an extensive range of ales, wines, spirits, cocktails and soft drinks. Room income is 31% of turnover where you have 11 en-suite guest bedrooms equipped with central heating, colour TV’s and tea & coffee making facilities. Food sales equate to 25% of income where they serve a varied menu to include home made specials which are all freshly prepared to order on site using only the finest locally sourced produce. The remaining 2% derives from machine income. The business benefits from an enormous influx of tourists during the season yet remains busy with the locals off-season. Externally there's a large mature beer garden with children’s play area and shepherd’s hut. The Cornishman Inn would thrive on a husband & wife team or food based operators to enhance the food sales. The business already enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade from visiting tourists. This is a superb opportunity to purchase a business that has already benefited from significant investment which is a great base to build upon and as such early viewing is highly recommended as this gem is not to be missed.

Tenure:
Leasehold
Is accommodation included?:
Yes
Number of bedrooms:
3
Location Details:
The Cornishman Inn is located in the village of Tintagel set high on the rugged North Cornwall coast. Tintagel has dramatic sea views all within walking distance. This is a spectacular place, steeped in myths, mystery and beautiful coastal path walks. The village and nearby Tintagel Castle are associated with the legends surrounding King Arthur and The Knights of The Round Table. The Cornishman Inn is an ideal place to be based for exploring the surrounding area.
Leasehold Term:
Original term: 20 years Term remaining: 17 years Rent: £55,000 pa Reviewed: 5 yearly Business rates: £16,711
Listed by:
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