This recently extended Riverside Village Inn with Letting Bedrooms is beautifully positioned alongside the River Parrett in the Somerset village of Combwich.
Combwich is a village in the parish of Otterhampton within the Sedgmoor district of Somerset between Bridgwater and the Steart Peninsula. The village lies on the Combwich Reach as the River Parrett flows to the sea.
This thriving village is served by a shop/post office, primary school and a church along with this excellent business.
Hinkley Point is within 5 miles and is the largest building project in Europe employing 5,000 people a day and will potentially continue for at least 10 years……this offers huge income streams within the letting accommodation.
This recently extended and unique Freehold/Free of Tie Riverside Village Inn with Letting Bedrooms is built of local stone construction, under a tiled roof, occupying a pleasant position within the village.
The Lounge Bar (circa 30) is a traditional room that benefits from carpeted flooring, log burning fireplace, beamed ceilings, bar servery area and exposed stone walls.
The Restaurant (circa 40) has a cosy feel and offers carpeted flooring, beamed ceilings, log burning fireplace, wood panelling and a carvery serving unit.
Ladies and Gents W.C.’s.
There is an equipped Commercial Catering Kitchen with stainless steel appliances and work surfaces (appliances not tested) along with a separate wash up area.
There is a Ground Floor Cellar with python and cooler systems.
The Owners Accommodation is flexible depending on the operators personal circumstances. On the 1st Floor of the main building is a 2 Bed Apartment.
Also, the freeholder would be willing to rent his 4 Bed Detached Bungalow on separate negotiation which is a 5 minute walk away.
Located in the Courtyard and set on two floors are 10 Double En-Suite Letting Bedrooms which were created and opened in July 2018. On the 1st Floor of the main building are a further 3 Letting Rooms (1 Double, 1 Double with Kitchenette & 1 Double with Kitchen and Lounge).
To the front of the property is a Patio Area for 20 customers along with a Smoking Shelter. To the rear is a Courtyard Area with potential seating for 40 customers.
Also to the front is a Car Park for 15 cars.
We are advised that the business trades with the benefit of the Premises Licence (not seen) which permits the sale of alcohol during the hours of:
Mon – Thursday 11am – Midnight
Fri – Sat 11am – 2am
Sunday Midday – 11pm
Current opening hours are:
Mon – Thursday 5pm – Midnight
Fri – Sat Midday – Midnight
Sunday Midday – 11pm
NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the APLH Qualification in readiness for their intended operation of the Public House.
The business is offered for sale as a freehold (although we have not had sight of the title deeds) or as a new highly favourable 10 year Private FRI Lease Agreement as follows:
1. The asking premium will be £49,950.
2. The initial rent will be £60,000.
3. The annual rent is simply RPI linked to inflation every 3 years, hence no market rent reviews.
4. Rent payable monthly in advance.
5. Deposit equivalent of 3 month’s rent.
6. Lease assignable after initial 2 year period.
7. Free of all brewery and supply ties.
8. Each party responsible for own legal fees relating to the transaction.
9. We are advised that our vendor client would be agreeable to insert an ‘Option to Purchase’ clause within the lease agreement, to enable the lessee to subsequently purchase the freehold element at a price to be mutually agreed.
We are advised that at the end of the term, the Lease (not seen by Guy Simmonds) should be renewable with no further premium – subject to the provision of the Landlord & Tenant Act 1954. We are advised that the inn benefits from all mains services and is heated by gas central heating. (no services seen or tested). Business rates are advised as currently being free of charge.
The current owners purchased the property in 2006 and have recently significantly extended the property to add a large number of letting bedrooms.
Due to its proximity to the largest building project in Europe, this business offers huge scope to increase trade in all areas and new owner operators will inevitably reap the rewards.
We are advised turnover for y/e 07/19 is £322,800 (inc VAT) with a trade split of 50% wet, 15% dry & 35% letting.
This business was viewed by Marc Blackford who would be delighted to discuss further details and can be contacted on 07812 753014.
Viewing appointments must be made by contacting Guy Simmonds on 01332 865112.
Details Prepared: August 2019