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DELIGHTFUL RIVERSIDE COUNTRY INN ON THE STUNNING WEST COAST OF WALES OFFERED EITHER FREEHOLD OR ‘FREE OF TIE’ LEASE CLOSE TO THE CEREDIGION VILLAGE OF PENTREGAT AND THE HARBOUR TOWN OF NEW QUAY – CAMPING/GLAMPING OPPORTUNITIES

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  • Lovely riverside location on the main west coast coastal road offering considerable passing trade.
  • Characterful and Intimate Trading Areas including Lounge Bar (circa 30), Restaurant (circa 32), Dining Room (circa 20) and Function Room/Dining Area (circa 30) all offering character features and quality furnishings.
  • Lovely 4 Bedroom Living Accommodation (possible letting).
  • Huge Riverside Garden with potential for Glamping Pods, Camping etc.
  • Advised turnover for y/e 09/19 is circa £210,000 (incl. VAT) with trade split of 30% wet and 70% food.
  • Desirable ‘Free of Tie’ lease or Freehold.
AN EXCELLENT OPPORTUNITY TO ACQUIRE A NEW FREE OF TIE LEASE OR FREEHOLD IN A LOVELY RIVERSIDE LOCATION


ASKING PRICE £325,000 FREEHOLD OR £29,950 ‘FREE OF TIE’ LEASE TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This wonderfully presented 18th Century Riverside Country Inn & Restaurant with Large Gardens is located on the main A487 road that spans the length of the west coast of Wales from Cardigan to Aberystwyth.

The nearest villages are Rhydlewis and Pentregat and being on the main road offers considerable passing trade especially in the summer months.

The stunning West Coast offers an array of tourist attractions along with some of the most stunning beaches in the UK.

The harbour town of New Quay is a short drive away and is famous for its regular sightings of the local dolphins.

THE PROPERTY

This cosy and characterful 18th Century Freehold Village Inn is of local stone construction, with whitewashed walls, under a pitched, tiled roof, occupying an excellent riverside location.

The Restaurant (circa 32) is a cosy and intimate room that offers carpets, beamed ceilings and a carvery area.

The Lounge Bar (circa 30) is an inviting room at the front of the building with a bar servery, carpeted flooring, beamed ceilings and exposed stone walls.

The Dining Room (circa 20) is to the rear of the building and offers doors to the garden areas along with carpeted flooring and nice furnishings.

The Function Room (circa 30) has its own separate entrance and also offers garden views. This room is ideal for small parties, functions etc.

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 Lower 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: Three Double Bedrooms (2 En-Suite), Single En-Suite Bedroom, Large Lounge with entrance to the lovely Roof Terrace, Fully Fitted Galley Kitchen and Bathroom.

The accommodation is very nice and could be utilised as letting accommodation if required.

EXTERNAL

To the rear and side of the property is a very spacious Lawned Riverside Beer Garden offering seating for approx. 80 customers.

Furthermore, there is land to the rear that offers considerable potential to introduce Glamping Pods, Yurts etc (stpp)……..very popular in the area.

To the front is a Car Park for 20-30 cars.

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:

Sun – Thursday 11am – Midnight

Fri – Sat 11am – 1am

Current opening hours are:

7 days per week Midday – 2.30pm, 6pm – 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 £29,950.

The initial annual rent will be £25,000

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, Septic Tank and all other mains services and uses oil central heating (services not tested).

Business rates payable are advised as being free of charge.

THE BUSINESS

The current owners purchased the business 22 years ago and have enjoyed a wonderful business and lifestyle over the years. Our vendors are looking to retire and are offering this property to market in excellent condition.

The business has a good all year-round trade with a community feel in the winter and more touristy in the summer. New owners will benefit from an established business with potential to introduce longer hours, letting bedrooms and glamping/camping.

We are advised that declared turnover for y/e 09/19 was £210,000 (inc vat) with a trade split of 30% wet and 70% food.

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

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: March 2020

ADDITIONAL IMAGES

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