8360F

• Lovely location within this desirable village and set in the stunning Exmoor National Park.
• The trading areas are full of character and benefit from flagstone floors, open fireplaces, beams and exposed stone and include a Lounge Bar/Dining Area (circa 45), Dining Room (circa 25) and Public Bar (circa 30).
• 9 Beautiful En-Suite Letting Bedrooms.
• 2 Bedroom Living Accommodation.
• Front Riverside Garden and Rear Enclosed Courtyard offering seating for 70 customers.
• Advised turnover for y/e 02/20 was approx £384,000 (incl. VAT) with trade split of 40% wet, 40% food & 20% letting.
• Desirable Free of Tie Lease or Freehold with an ‘Option to Purchase’ opportunity.

Location

This lovely characterful Freehold/Free of Tie Inn & Restaurant with 9 Letting Bedrooms is delightfully located in the heart of Luxborough, Somerset.

Luxborough is a desirable village and civil parish located 6 miles south of Dunster, lying amongst the Brendon Hills and the Exmoor National Park. It is divided into the hamlets of Churchtown, Kingsbridge and Pooltown, which lie within a mile of each other.

The area is renowned for tourism with the famous Dunster Castle only a short drive away and the many walking routes that cover the Exmoor National Park. The surrounding estates offer some excellent shooting during the season and this successful business has a prime location.

THE PROPERTY

This beautifully presented freehold village inn is of stone construction under a pitched, tiled and thatched roof, occupying an excellent village location within Luxborough.

The Lounge Bar/Dining Area (circa 45) are made up of three intimate rooms that offer cosy dining experiences along with a bar servery, flagstone floors and an open fireplace.

The Public Bar (circa 30) is a traditional room benefitting from flagstone floors, bar servery, log burner, beams and exposed stone.

The Dining Room (circa 25) is a lovely room offering solid wood floors and feature fireplace and is ideal for private dining events.

Ladies and Gents W.C.s.

There is a well-equipped Commercial Catering Kitchen with stainless steel appliances (not tested) and work surfaces along with a separate wash up area.

The Ground Floor Beer Cellar has coolers and a python system.

OWNERS ACCOMMODATION

The owner’s accommodation is situated on the 1st floor and briefly comprises: 2 En-Suite Double Bedrooms and a Lounge (needs work). The property is flexible in regards to accommodation and can be refigured for any owner’s needs.

LETTING ACCOMMODATION

Located on the Ground and 1st Floors are 9 Individual and Beautifully Presented Letting Bedrooms ranging from Standard Double/Twins up to a Royal Oak Suite. The accommodation rates are from £80 up to £140 per night.

EXTERNAL

To the rear of the property is an excellent enclosed Courtyard Garden (circa 50) and to the front is a Riverside Terrace Area (circa 20).

To the side of the business is a Car Park.

TRADING HOURS

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:

7 days per week 11am - Midnight

Current opening hours are:

Monday Closed

Tues – Sunday 11am – 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.

GENERAL REMARKS

The property and business is being offered for sale 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:

The asking premium will be £49,950.

The initial annual rent will be £30,000

The annual rental is simply RPI linked to inflation every 3 years, hence no market rent reviews.

Rent payable monthly in advance.

Deposit equivalent of 3 month’s rent.

Lease assignable after initial 2-year period.

Free of all brewery and supply ties.

Each party responsible for own legal costs relating to the transaction.

Satisfactory references will be required on behalf of our vendor client.

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 and timescale to be mutually agreed, with Guy Simmonds again acting as the agent for our vendor client.

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 LPG and all other mains services and uses oil central heating (services not tested).

Business rates payable are advised as being £9,000 per annum.

THE BUSINESS

The current owner purchased the business in 2014 and has made considerable improvements to the property over the past 6 years and is offering the property in excellent condition.

This highly desirable business is continuing to grow year on year and offers new owner operators the opportunity to acquire a profitable business with an outstanding ‘quality of life’ in an affluent location. Our vendor is happy to either sell the freehold or offer a new lease with an ‘option to purchase’.

We are advised that declared turnover for y/e 02/20 was approx £384,000 (inc VAT) with a trade split of 40% wet, 40% food & 20% letting.

Accounting information will be made available to interested parties after viewing.

Viewing appointments must be made by contacting Guy Simmonds at sales@guysimmonds.co.uk.

Details Prepared: Feb 2020