The Prince of Wales is a substantial character moorland village inn with orgins reputedly dating back to around 1860 and which occupies a prominent landmark position in the centre of the village of Princetown. The Prince of Wales has all the necessary attributes for a successful business with a large Character Bar (54+), separate Restaurant/Function Room (44), Games Room, Commercial Kitchen with Ancillary and Welfare Facilities. There are also 3 Ensuite Letting Bedrooms, a separate purpose designed Bunk House Building sleeping up to 21 guests with Communal Lounge and Kitchen Areas, and an Owners Private Apartment which currently comprises 2 Double Bedrooms, Lounge, Kitchen, Office and a further 4 Attic Rooms. Externally to the rear is a private Car Park with around 14 spaces and a small Patio Seating Area (16).
The Prince of Wales is situated in a prominent and prime trading position in the heart of the famous and historic moorland village of Princetown. Dartmoor prison, a major tourist attraction, is located within the village, which has over the years has become one of the most visited tourist haunts in Devon, being particulary popular with coach tours and proven to be a valuable stop off point for lunches, refreshments and sightseeing. Princetown is situated on the B3212 Yelverton to Exeter Road, at the junction with the B3357 Ashburton to Tavistock road, with the major South Devon city of Plymouth some 12 miles to the South. The village is picturesque and completely surrounded by the rugged beauty of Dartmoor, which attracts over 6 million visitors each year. Princetown is an ideal centre for touring and also has its own well established community supporting a number of businesses and its own primary school. It is probably most famous for Dartmoor prison with its high boundary walls circling some 30 acres of buildings. The area is a magnet for day trippers and tourists throughout the year.
Main customer entrance door to front into large Main Bar Area - an attractive character room with carpeting flooring, heavily beamed ceilings, part exposed stone wall, feature stone fireplace with inset woodburning stove, range of free standing wooden tables, chairs, low stools and bar stools compfortably seating 26 customers plus adequate standing room, open plan through into Bar and Dining Area with a continuation in theme and ambiance with heavily beamed ceilings, 2 feature exposed stone fireplaces (1 with inset woodburning stove), part exposed stone wall, wall mounted menu boards, free standing wooden tables and chairs comfortable seating 28 customers. Timber fronted and polished timber topped central Bar Servery fitted with a range of back bar fittings including display shelving and optics with Altro flooring, 2 double glass fronted bottle fridges, open shelving, stainless steel sink unit, glass washer and electric cash register. Games Area with carpeted flooring, heavily beamed ceilings, Pool Table Area, darts oche and electronic scorer and seating for 8 customers. Restaurant/Function Room a versatile multi purpose character room with carpeted flooring, with exposed ceiling timbers, feature mural, feature fireplace with inset woodburning stove, door to side, range of free standing wooden tables and chairs comfortably seating 44 customers, demountable Skittle Alley.
Commercial Kitchen with Altro flooring, part stainless steel and part wipe clean clad walls and being fitted with an extensive range of commercial catering equipment to include: - extractor system with stainless steel canopy over, 4 burner gas range, twin floor standing deep fat fryer, stainless steel work benches with shelving below, rationale steam combi oven, twin stainless steel sink unit, stainless steel hand basin, commercial dishwasher, contact griddle, 3 door under counter commercial fridge unit, 2 door under counter commercial fridge unit, 4 microwave ovens, upright commercial fridge, upright freezer and stainless steel wall shelving. Dry Store Area with upright freezer, chest freezer and stainless steel racked shelving. Ladies and Gents WC. Beer Cellar on the lower ground floor, temperature controlled with dray drop.
The are 3 ensuite letting bedrooms on the first floor to sleep 8 guests, each with colour television and tea and coffee making facilities. The letting bedrooms briefly comprise: - Bedroom 1 - A twin bedroom with aspect to front and an ensuite shower room. Bedroom 2 - A double bedroom with aspect to front and an ensuite shower room. Bedroom 3 - A family suite comprising double bedroom with aspect to rear, separate twin bedroom with aspect to rear and an ensuite shower room. The former Princetown Brewery building has been imaginatively converted to provide a Separate Bunk House Accommodation building to sleep 21 guests and located at the rear of the inn. The purpose equipped building was imaginatively converted in 2011 to provide high quality bunk house style accommodation, which is a traditional budget accommodation for those undertaking outdoor pursuits on the moor. The bunk house has been finished to a high specification and briefly comprises:- on the ground floor, Bedroom 4 - a room with 4 bunk beds. Room 5 - a twin room. Room 6 with bunk beds sleeping 5. Room 7 - a 10 bedroom dormitory. Wet Room with WC. Shower Room with WC. On the first floor is a Guest Lounge Area with comfortable seating, Guest Kitchen Area with range of modern base and kitchen cupboards with complimentary work surfaces offering fridge, microwave, toaster, kettle and stainless sink unit. Drying Room with tumble dryer.
Situated on the first floor of the main property is the owner's private apartment which currently comprises 2 Double Bedrooms, Sitting Room, Kitchen, Bathroom and Office. A staircase leads to the second floor and within the attic space there are a further 4 Rooms which are currently used for storage, but which could easily be adapted as additional living accommodation, subject to the necessary permissions and consents.
To the rear of the inn is a private tarmac Car Park Area with space for 14 plus vehicles. There is also a Seating Area for around 16 customers. A timber storage shed houses 3 freezers and racked shelving.
The Prince of Wales is a traditional moorland inn which is well supported by locals with a good regular food and wet trade, and is home to 2 football teams and 2 darts teams with a boost from tourists visiting the area year round, but in particular at weekends and during the busy summer months. Owned and operated by our client for 13 years, the inn benefits from a popular purpose created bunk house which was completed in August 2011. This provides high quality budget/hostel type accommodation the type of which is extremely popular with people undertaking outdoor pursuits on the moor and this area of the business has seen a continued growth in popularity year on year since its introduction. Our client has also developed a lucrative coaching trade and The Prince of Wales is now being offered for sale due to impending retirement. The sale of The Prince of Wales represents an excellent opportunity to purchase a well established and well supported landmark public house in a renowned tourist and leisure destination. Our client advises us that the business still offers genuine potential to develop all aspects of the trade still further and for future growth in trade levels.
Accounts for the year ending 5th April 2017 show sales of £215,090 net of VAT with an advised approximate trade split of 60% wet sales, 20% food sales and 20% accommodation sales. Full detailed trading information can be made available to interested parties following a formal viewing appointment.
The business is run by our client (not on the rota) with the assistance of 4 full time and up to 6 part time members of staff, as and when trade levels dictate.
Our client advises that there is potential to develop all aspects of the trade still further and especially for hands on owner operaters to build on the solid trade levels being achieved, with particular opportunities to increase the food sales and letting accommodation particularly making use of online accommodation booking agency's.
Requested and to be confirmed.
For up to date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office website .
All mains services are connected to the property.
Price & tenure
£99,000 for the valuable free of tie leasehold interest as a going concern business and full trade inventory. Wet and dry stocks to be additional at valuation. Vacant possession upon completion.
We are advised that the Prince of Wales is held on a 15 year lease from a private landlord which commenced in January 2012. The lease is fully repairing and insuring with a current rent of £27,000 per annum plus VAT.
There is currently a £2,000 per annum rent discount for selling Dartmoor Brewery products, making the passing rent £25,000 per annum. Full details of the lease can be made available to interested party's upon request.
Strictly by appointment with the vendors Sole Selling Agents.Tel: Email:
You are recommended to contact us before visiting the property even for an informal viewing. We can then confirm whether or not it is still available.
An early discussion about finance can often save time and disappointment. If you would like independent specialist advice on funding this property or any other purchase, we recommend you contact us for a list of our approved brokers.