An historic Freehouse close to Penzance seafront in West Cornwall. Comprising c. 50 covers, exceptionally well equipped commercial kitchen and preparation areas and 3 bedroom owners accommodation. New Free of Tie Lease.
The Navy Inn is situated at the lower end of Queen Street, just off the promenade in Penzance, which affords views towards Newlyn, St Michael's Mount and across to The Lizard Peninsula. Penzance is a popular and thriving town with a number of historic Regency and Georgian properties, a range of national and niche retailers and is generally considered a desirable town in which to live and work.
In terms of the trade we are advised the turnover for the year end March 2016 was in the region of £155,000 (net of VAT), although in a recent period this has been significantly higher. Further accounting information will be made available subject to a viewing appointment in the normal manner. We are advised the business has a strong local following and benefits from referrals from accommodation providers in the area and has good reviews on Trip Adviser.
We understand the property dates back to the late 19th Century, is thought to have originally been 3 cottages, which have a number of character features indicative of this era, most notably wooden floors, exposed ceiling beams, some exposed walls and multi-pane windows.
Today the property trades as the Navy Inn, which is well known within the vicinity, has been in our client's tenure for the past 2 years and we are advised is a dry led operation (70%) with up to circa 52 covers. There has been a significant amount of investment in the rear store/preparation and commercial kitchen, with a high level and indeed quality of commercial cooking equipment, as befitting its food led offering.
10.6m x 4.43m, plus 3.70m x 3.0m, an attractive and historic bar/restaurant area with wooden floor, exposed ceiling beams, feature fireplace and further hearth with multi fuel burner. Large multi pane window to the front elevation and built in wooden bar/servery with 2 real ale and 6 further taps. All in all, making this a very pleasant drinking and dining area. Set up for circa 38 covers. Door to Ladies and Gents wc's and:-
2.86m x 2.74m, through to:-
4.32m X 2.78m, door to side elevation for deliveries.
4.0m x 3.61m, multi pane window to the front elevation, set up for circa 14 covers, carpet floor, access to the rear of the bar and kitchen areas.
Dry store area, with commercial non-slip flooring.
5.57m x 3.64m, continuation of non-slip flooring. An extremely well equipped and recently re-fitted commercial kitchen with wipable walls and the principal cooking equipment to comprise 2 x 6 ring gas burners with ovens below with an extensive extraction system over. Gas char grill and various under counter stainless steel fridges. Skylight window. Through to:-
4.46m x 1.92m, continuation of commercial non-slip flooring, space for preparation of food and also double stainless steel sink unit and commercial dishwasher. Through to:-
2.04m x 1.86m
With separate side access, inner hallway with stairs ascending to the:-
2.99m x 2.25m, window to the rear elevation. With separate bath and shower. Heated towel rail. Pedestal wash hand basin and low level wc.
4.59m x 2.80m, window to front elevation. Radiator.
2.95m x 2.18m, window to inner hallway. Radiator.
4.23m x 3.20m, window to front elevation. Radiator.
4.24m x 3.61m, window to the side elevation. Radiator.
3.25m x 3.29m, window to side elevation. Complementary base and wall units and stainless steel drainer unit.
Access to outside seating area.
Leasehold : To be offered with a new 10 year landlord and Tenant lease which will enjoy the right to automatically renew, with a 5 year Rent Review on a full repairing and insuring basis. Initial passing rental £17,000 pa.
General Enquiries Planning
The Energy Performance Rating for this property is Band C.
An Inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied by Miller Commercial prior to exchange of Contracts.
We are advised the Navy Inn currently holds a relevant Premises Licence in respect of the sale of intoxicating liquor on and off the premises.
We refer you to the valuation office website or call
Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: South West Water: Transco:
To be taken at valuation
All the above prices/rentals are quoted exclusive of VAT, where applicable.
Plans: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate.
Agents note: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.
Miller Commercial is the trading name of Miller Commercial llp registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial llp is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial llp. VAT Registration No.
viewing: Strictly by prior appointment through Miller Commercial.