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Substantial Character Moorland Inn For Sale

Yelverton, Devon, England

  • Freehold Price: £725,000  Price Reduced arrow_drop_down
  • Annual Turnover: £246,576
Seller Reference: 4790
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Business Description
 
 
 
 
 
 
 
 
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Seller Reference: 4790
Request Details
Business Description
THE PROPERTY
The Forest Inn is an historic and renowned Dartmoor coaching inn with origins reputedly dating back to the late 1800. Enjoying extensive views over Dartmoor National Park moorland, the property comprises a substantial detached three storey building which has been recently refurbished by our clients, notably to include the installation of a biomass woodchip boiler, at a cost of around £90,000. This iconic moorland destination inn briefly comprises; - Main Bar (15+), Snug Lounge (12), Family/Games Room, Dining Room (31), Commercial Catering Kitchen with Ancillary Facilities, 6 Letting Bedrooms, each with Private Bathroom Facilities and 4 further Ensuite Bedrooms currently used as Staff Rooms. In addition, there are Three separate Apartments within the main property (2 x 1 bedroom and 1 x 2 bedroom). An adjacent former bunk house building houses a Two further Apartments (1 x 2 bedroom and 1 large studio apartment) with separate Workshop Area. The grounds extend to over 5 acres in total and incorporate numerous Outbuildings including Stables and Store Rooms, a Trade Terrace to the rear of the inn (64), Lawned Gardens, Paddock Field and extensive Customer Car Parking for around 40 vehicles.

SITUATION
The Forest Inn is located in the attractive small rural moorland hamlet of Hexworthy, a popular tourist location set in the heart of Dartmoor National Park. The hamlet of Hexworthy is accessed by an unclassified lane, approximately 1 mile from the B3357 road which links Princetown (6 miles) and Ashburton (9 miles). Located in a secluded and elevated position, overlooking the Dart Valley and with extensive views, the Forest Inn lies close to the Hexworthy Bridge beauty spot whilst Venford Reservoir, another popular beauty spot, lies approximately 1 ½ miles to the East with both attracting large numbers of visitors. The Forest Inn is mentioned in Crossing's Guide to Dartmoor, a definitive text used by walkers and Dartmoor enthusiasts, first published in 1910. This publication still has a great popularity and serves to boost levels of trade at The Forest Inn. The business has been recognised and renowned between Dartmoor enthusiast, for providing public house and accommodation facilities in an underdeveloped and unspoilt part of the moor and consequently is a popular place to visit many of the famous features and attractions close by, being surrounded by picturesque moorland scenery and wildlife. INTERNAL DETAILS
Customer entrance doors to the front and rear lead to Main Bar Area an attractive trade area with parke flooring, wall mounted menu board, part wood panelled walls, range of free standing wooden tables and upholstered chairs comfortably seating 15 customers plus adequate standing room. Substantial oak topped waved edge Bar Servery fitted with a range of back bar fittings, extensive display shelving, optics, stainless steel sink unit, two double glass fronted bottle fridges, cash register and glass washer. Beer Cellar temperature controlled on the ground floor with ice machine. Snug Lounge Area with carpeted flooring, attractive feature stone fireplace with inset wood burning stove, part wood panelled walls, range of comfy sofas, armchairs and freestanding tables and chairs comfortably seating 12 customers. Family/Games Room with carpeted flooring, exposed stone fireplace, part wood panelled walls, pool table area, darts oche area, mobile carvery unit, range of freestanding tables and upholstered chairs for 8 customers. Main Dining Room an attractive character room with carpeted flooring, part wood panelled walls, wall mounted menu boards, waitress station area and a range of freestanding tables and upholstered chairs comfortably seating 31 customers. Ladies & Gents WC's. Commercial Catering Kitchen with tiled flooring, part stainless steel and part wipe clean clad walls, extractor system with stainless steel canopy over, six burner gas range, chargrill, twin floor standing deep fat fryer, stainless steel work benches with shelving below, two turbo fan commercial ovens, lit serving gantry, four microwave ovens, chest freezer, ice cream freezer, upright fridge, undercounter fridge, wall shelving and hand basin. Washup Area with tiled flooring, stainless steel work benches with shelving below, hot water still, stainless steel wall shelving, part wipe clean clad walls, commercial pass through dishwasher and stainless steel deep bowl sink unit. Fridge Store with double commercial upright freezer, chest freezer, stainless steel deep bowl sink unit, three upright fridges. Dry Store. Office on the first floor. House Keepers Store Room on the first floor.

LETTING ACCOMMODATION
The business currently offers six letting bedrooms, on the first floor which benefit from remote controlled colour televisions, WIFI, hair dryers and tea and coffee making facilities. Bedrooms briefly comprise: - Bedroom 1 a twin/double zip and link room with Ensuite Bathroom with shower over bath. Bedroom 2 a double room with Ensuite Bathroom with shower over bath. Bedroom 3 a double room with Private Bathroom along the corridor. Bedroom 4 a twin/double zip and link room with Ensuite Bathroom with shower over bath. Bedroom 5 a double room with Ensuite Shower Room. Bedroom 6 a double room with Ensuite Bathroom with shower over bath.

STAFF BEDROOMS

STAFF BEDROOMS
Also on the first floor are 4 Further Double Ensuite Bedrooms currently utilised as live in staff rooms, but which could be reinstated as letting bedrooms.

OWNERS/STAFF ACCOMMODATION
There are three individual apartments within the main property which can be used as owner's/manager's accommodation or for letting purposes, subject to any necessary consents. Apartment 1 on the ground floor with open plan Sitting Room and Kitchen, Double Bedroom and Ensuite Shower Room. Apartment 2 on the second floor with Sitting Room, Kitchen, Double Bedroom and Bathroom. Apartment 3 on the second floor with Sitting Room, Double Bedroom, Twin Bedroom, Kitchen and Bathroom.

BUNK HOUSE APARTMENTS
A stone built former bunk house has been converted to create two self-contained letting apartments and a workshop. Ground Floor Apartment with spacious and generously proportioned open plan Bed/Sitting Room with Kitchen Area and a Shower Room. Workshop. First Floor Apartment with Sitting Room, Kitchen, Two Double Bedrooms and Bathroom. These two apartments are currently let out on assured short short hold tenancy agreements and produce and income of £11,400 per annum.

EXTERNAL DETAILS
The grounds extend to over 5 acres, which are predominately Paddock and Field Areas. The grounds incorporate a Trade Terrace Area immediately to the rear of the property with al fresco seating for 64 customers. Basement Storage. Various Storage Sheds and Pump House. The property benefits from Customer Car Parking Areas to the front and side for around 40 vehicles. There is a Raised Lawned Garden Area to the rear, a purpose-built Biomass Boiler Room, Stables and a partially demolished barn.

THE BUSINESS
The Forest Inn is a delightful, character and renowned Dartmoor coaching inn providing freshly prepared food, quality ales and wines, within a refurbished character building. This quality Dartmoor Inn is well presented having been the subject of a programme of decoration and refurbishment by the current owners. Enjoying an established reputation and strong levels of trade with excellent levels of regular repeat business and a local following, which is boosted by year round visitors to the area and a destination trade from the surrounding villages and towns. The Forest Inn has its own darts team and is home to a popular Sunday carvery and the business has always been extremely popular with pony trekking groups, walkers and ramblers. The inn has an established reputation for its letting accommodation, which has been growing by making use of various accommodation booking portals. The business also benefits from a Five Star Food Hygiene Rating and has its own website which provides further background information. The business also benefits from prominent signage along the B3357, which is one of the main arterial routes across the moor. This is a unique business opportunity which undoubtedly offers tremendous potential to develop all aspects of the trade still further and build on the current levels of trade. The sale of The Forest Inn represents an excellent opportunity to purchase a substantial destination moorland inn with letting bedrooms and undoubtedly offers opportunities to reconfigure the accommodation to provide additional letting bedrooms, for which demand exists. A formal viewing is essential in order to appreciate all that this unique business and substantial property has to offer.

TRADING INFORMATION
Accounts for the year ending 30th June 2019 show sales of £246,576 excluding VAT. Our clients advise that there is potential to develop all aspects of the trade still further, particularly by focused hands on owner operators maximising all available income streams and building upon the levels of trade already established. Full detailed trading information can be made available to interested parties following a formal viewing appointment.

OPENING HOURS
The Forest Inn trades from 11.30am until 3pm and from 6pm until 11pm Monday to Friday, 11am until 3pm and 6pm until 11pm Saturday, and from mid-day until 3.30pm and 6pm until 11pm Sunday. These hours are reduced from November until Easter, when the business is closed all day on both Mondays and Tuesdays. The business is also closed for three weeks in January.

CURRENT STAFFING
The business is currently run with a full management team in place with 3 full time and 3 part time members of staff being employed.

EPC
D-86

SERVICES
Mains electricity, private spring water supply, private drainage. Biomass wood chip boiler provides all central heating and hot water. LPG is used for cooking.

PRICE & TENURE
£725,000 for the valuable freehold interest as a going concern business and full trade inventory. Wet and dry stocks to be additional at valuation. Vacant possession upon completion.

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.

Trading hours:
The Forest Inn trades from 11.30am until 3pm and from 6pm until 11pm Monday to Friday, 11am until 3p
Number of employees:
6
Tenure:
Freehold
Location Details:
The Forest Inn is located in the attractive small rural moorland hamlet of Hexworthy, a popular tourist location set in the heart of Dartmoor National Park. The hamlet of Hexworthy is accessed by an unclassified lane, approximately 1 mile from the B3357 road which links Princetown (6 miles) and Ashburton (9 miles). Located in a secluded and elevated position, overlooking the Dart Valley and with extensive views, the Forest Inn lies close to the Hexworthy Bridge.
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