Cowling Commercial Property Directory

TEAM ORIENTED HIGH STREET PUBLIC HOUSE IN POPULAR COASTAL RESORT

 Team oriented
 40 cover restaurant
 C. 60 / 70 cover function room
 Trade garden
 Snug area, main bar with pool tables
 Tied on beer, cider & soft drinks only
 80% wet / 20% food
 Services : All mains connected
 Rateable Value : £12,000 Rates Payable : £5,544 Council Tax Band : A
(Previously £75,000)

LOCATION

Combe Martin has a population in the order of 2,500 and is situated approximately 4 miles to the east of Ilfracombe. Barnstaple, the sub-regional centre of North Devon is situated approximately 14 miles to the north.

THE SITUATION

Reputed to be the oldest pub in Combe Martin and approximately 400 years old. The property is of part random stone and part rendered elevations with window shutters to the front. The agents recommend internally inspection to appreciate the full extent of the property, however in brief comprises :- ground floor main bar, snug bar, function suite, restaurant and commercial kitchen. To the first floor are three refurbished letting bedrooms and 2 / 3 bed owners flat.

THE PROPERTY AND CONSTRUCTION

The property is reputed to be one of the oldest pubs in North Devon. The property is of stone and masonry construction with colour washed elevations under pitched tiled roof. Briefly comprising main bar, restaurant, function area, snug room, trade garden, letting accommodation and private owners flat.

THE PROPOSAL

Our clients are inviting offers for the leasehold interest.

THE BUSINESS

The business is currently run by a single occupier and has been owned and operated for 18 months. The property is being sold due to health reasons and there is considerable chance to increase the trade. The business is currently wet led (80% wet and 20% food). There is considerable potential here to increase the food trade as our current owner is only doing carvery service on a Sunday which is predominately for locals. Whilst there is a function room, restaurant and letting accommodation none of these facilities are fully utilised, thus giving any potential new purchaser scope to increase the trade quite substantially. Our client currently runs 10 teams which is a mixture of skittles, darts and pool. We believe there is further potential to increase the trade with further utilising of the letting accommodation, function area and by introducing a bar menu. More detailed accountancy information is available upon request.

THE LEASE

The lease is held on a 10 year Punch Growth lease. It is free of tie on wines, spirits and alcopops and tied only on beers, ciders and soft drinks. The rent is currently £500 per week/£26,000 pa.

THE STOCK

Any current stock to be purchased at valuation upon completion.

THE INVENTORY

The property is sold with an inventory of trade fixtures, fittings and equipment.

LICENCE

The property enjoys a Premises Licence.

VAT

Payable, if applicable, at the prevailing rate.

THE ACCOMMODATION (comprises)

Main entrance from Castle Street - the main thoroughfare

Inner hallway, door to the left to :-

RESTAURANT AREA
Currently laid out for c. 40 covers on a mixture of pine tables and chairs. This room benefits from beamed ceilings, a feature stone wall and access through into catering kitchen

From the inner hallway archway into :-

SNUG AREA
Seating for c. 18 - 20 covers. This area also has beamed ceilings, close carpeting and a bar servery area. From this area there is steps are up the :-

MAIN BAR
Beamed ceilings, feature stone work, 2 x pool tables, large screen T.V. and main bar servery area. The main bar has a mixture of pumps and optics and bottle fridges. Access to the rear of the main bar into :-

FUNCTION ROOM
Seating for c. 50 - 60 covers. The function room benefits from its own bar servery which is an extension from the main bar. To the rear of the function room there is access out through into :-

REAR TRADE GARDEN
On two levels with picnic tables, chairs and patio heater

Inner hallway with access to :-

CATERING KITCHEN
Range of commercial equipment including gas burners, deep fat fryers, various microwaves, etc,.

From the inner hallway there is also access to Ladies and Gents W.C.S.

FIRST FLOOR

FREEZER ROOM
4 x chest freezers, 2 x fridge freezers, strip lighting, stainless steel single drainer sink

TOILET
Low level w.c., plus wash hand basin

LETTING BEDROOM 1
Double, en-suite, views over the front onto the High Street

LETTING BEDROOM 2
Single, views over the High Street

LETTING BEDROOM 3
Double, en-suite, views over the front onto the High Street

OWNERS FLAT

Lounge / office
Kitchen / diner. There is also a door from the kitchen which leads out onto rear sun roof.
2 double bedrooms, 1 en-suite
Bathroom
Separate w.c.

Commercial Funding

With approaching 30 years experience in the commercial funding sector, Mike Quinn heads up our ‘Sister Company’ Cowling Commercial Finance Limited. No matter where you purchase a business, or which agent you purchase through, Mike would be happy to discuss any required finance. For further information, please contact Mike Quinn on 01271 375555.


IMPORTANT NOTICE
Cowling Commercial for themselves, and for the Vendors of this property whose Agents they are, give notice that:
1. The Particulars are set out in general outline only for the guidance of intending purchasers and do not constitute part of an offer or contract. Prospective purchasers should seek their own professional advice.
2. All descriptions, dimensions and areas, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them.
3. No person in the employment of Cowling Commercial has any authority to make or give any representation or warranty whatever in relation to this property or these particulars nor to enter into any contract relating to the property on behalf of Cowling Commercial, nor into any contract on behalf of the Vendors.
4. No responsibility can be accepted for any expenses incurred by any intending purchaser in inspecting properties which have been sold, let or withdrawn.

PROPERTY MISDESCRIPTIONS ACT 1993
1. All measurements are approximate.
2. While we endeavour to make our sales particulars accurate and reliable, if there is any point which is of particular importance to you, please contact Cowling Commercial and we will be pleased to check the information for you, particularly if contemplating travelling some distance to view the property.
3. We do our utmost to comply with this Act in full. However we are also trying to represent our clients’ properties in their high possible light, as such we may use summer photographs to promote some properties.

VIEWING
By strict appointment through the selling Agents, Cowling Commercial, Commercial House, 11 The Strand, Barnstaple, North Devon. EX31 1EU
TEL: (01271) 375555 FAX: (01271) 377674

SURVEY AND VALUATION
Cowling Commercial have an experienced fully qualified Chartered Surveyor who will provide Survey/Valuation and planning and development advice on any business being purchased. Contact Charlotte Luckett MRICS if you require professional services.