8394L

SUBSTANTIAL BEAUTIFUL THATCHED VILLAGE PUB, INN & RESTAURANT WITH LETTING ROOMS BEING OFFERED AS A FREE OF TIE LEASE IN YARCOMBE, IN THE BLACKDOWN HILLS IN DEVON

8394L


  • Beautiful inn located in the stunning Blackdown Hills in Devon.
  • Nice trade area (26) with Snug (12).
  • Restaurant area (30) with Commercial catering kitchen.
  • Large first floor function room (100)
  • Large beer garden
  • Owner's Accommodation is one bedroom flat with separate kitchen and bathroom
  • Letting Accommodation - 3 individual letting rooms (2 en-suite).
  • Desirable Free of Tie Lease at nil premium but interested parties will need minimum of £20k ‘cash’ (to cover rent, deposit, cash flow etc).
  • Superb opportunity to acquire lease at nil premium and ‘make it your own business’.
A STUNNING OPPORTUNITY TO ACQUIRE A FREE OF TIE LEASE ON THIS BEAUTIFUL PROPERTY AND BUSINESS


NIL PREMIUM
APPLICANTS/INTERESTED PARTIES SHOULD SEND US A BRIEF BACKGROUND/CV AND THESE DETAILS WILL BE FORWARDED TO THE FREEHOLDER/LANDLORD FOR THEM TO DEAL DIRECT WITH YOU

Location

This substantial Inn is located in the village of Yarcombe, in an area of outstanding natural beauty. The property benefits from stunning views to the rear and a history dating back to the 10th century.

This pub is conveniently located just minutes of the A303 in the beautiful Blackdown Hills in Devon.

THE PROPERTY

This attractive Grade II listed property has internal areas which are full of character with flag stone floors and wood panelled walls.

Includes a nice trade area (26) and a Snug (12).

There is a Restaurant area for circa 30.

There is a commercial kitchen (appliances not tested) and cellar.

It also has a large upstairs function room (room for 100).

OWNERS ACCOMMODATION

The owner's accommodation consists of a one bedroom flat with separate kitchen and bathroom.

LETTING ACCOMMODATION

The letting accommodation consists of 3 individual letting rooms (2 en-suite).

We are advised that the upstairs Function Room (room for 100) has lapsed planning permission to turn into 4 letting rooms. It would be relatively easy to reinstate the planning and the landlords would support any such application and development.

EXTERNAL

There is shingled beer garden with stunning views to the rear.

TRADING HOURS

We are advised that the business trades with the benefit of the Premises Licence (not seen).

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 business is being offered for sale leasehold (although we have not had sight of the lease) as a new highly desirable renewable FRI Lease Agreement and we are informed the basic Heads of Terms are as follows:

The asking premium is NIL (landlord retains trade fixtures & fittings).

The initial annual rent will be £25,740 exclusive rates and monthly insurance premium.

Rent payable monthly in advance.

Deposit equivalent of 2 month’s rent.

Lease assignable (so lessee can potentially build up goodwill and sell in future if required).

Renewable* Lease term 6 years, 11 months (to minimise legal and stamp duty costs for lessee).

Free of all brewery ties.

Satisfactory references will be required by the freeholder/landlord.

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.

Business rates payable are advised as being currently nil due to small business rates relief. annum.

THE BUSINESS

The business is being offered for sale leasehold (although we have not had sight of the lease) as a new highly desirable renewable FRI Lease Agreement and we are informed the basic Heads of Terms are as follows:

The asking premium is NIL (landlord retains trade fixtures & fittings).

The initial annual rent will be £25,740 exclusive rates and monthly insurance premium.

Rent payable monthly in advance.

Deposit equivalent of 2 month’s rent.

Lease assignable (so lessee can potentially build up goodwill and sell in future if required).

Renewable* Lease term 6 years, 11 months (to minimise legal and stamp duty costs for lessee).

Free of all brewery ties.

Satisfactory references will be required by the freeholder/landlord.

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.

Business rates payable are advised as being currently nil due to small business rates relief. annum.

ADDITIONAL IMAGES

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