Ref: 8050 leasehold
Traditional and deceivingly spacious 'Free of Tie' Leasehold Inn located within the historic Market Town of Crediton in Devon
• Prominently positioned business within a residential area of the market town.
• Lounge Bar/Public Bar (circa 50) offering bar servery, solid wood floors, log burner and beams.
• Dining Room/Skittle Alley (circa 40) along with a Snooker Room/Function Room (circa 50).
• Three Bedroom Living Accommodation.
• External Courtyard Area.
• Semi-Commercial Catering Kitchen.
• Advised turnover circa £68,000 (no VAT) for year ending 04/17 based on a 100% wet trade offering considerable potential to introduce food.
• Beneficial Private ‘Free of Tie’ renewable lease with a rent of only £13k.
• Freehold Available on Separate Negotiation.
Traditional ‘free of tie’ leasehold business
This traditional private ‘free of tie’ leasehold Inn is located on Park Street, Crediton, surrounded by private housing.
Crediton is a town and civil parish in Mid Devon. It stands on the A377 Exeter to Barnstaple road at the junction with the A3072 road to Tiverton, about 7 miles northwest of Exeter.
The town has a population of 7,835 according to the 2011 census.
This historic market town is convenient for both Dartmoor and Exmoor National Parks and is a very popular area for outdoor pursuits including golf, fishing, riding, rambling, rock climbing, orienteering and water sports.
This traditional Market Town Inn is built of brick construction under a pitched tiled roof and occupies a prominent position within a residential area of Crediton, Devon.
The Lounge Bar/Public Bar (circa 50) is a traditional open plan bar area offering solid wood flooring, bar servery area, beamed ceilings, log burner and pool table.
The Dining Room/Skittle Alley (circa 40) offers carpeted flooring and traditional furnishings.
The Snooker Room/Function Room (circa 50) is a self-contained room with a bar servery, a mix of carpeted and wood floors, beams and snooker table.
The business is home to 5 Skittle Teams, 2 Pool Teams, Snooker Team and Regular Live Music Events.
Ladies and Gents W.C.’s x 2.
There is a good size Semi-Commercial Catering Kitchen with stainless steel appliances (not tested) and work surfaces.
The Lower Ground Floor Cellar offers a python and cooler system.
The owner’s accommodation is situated on the 1st floor and briefly comprises: Two Double Bedrooms, Single Bedroom, Fitted Kitchen and Bathroom.
To the rear of the property is a Courtyard Area ideal for outside seating but is unused at present.
Trading & licensing
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:
Mon – Fri 5pm – 11pm
Sat – Sun Midday - Midnight
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.
The business is offered for sale as a lease assignment with approximately 10 years remaining of the Private ‘Free of Tie’ full repairing and insuring, renewable agreement. We are advised that the inn is free of tie for all products. We are informed that the rent is currently £13,500 per annum to be reviewed in 2018. 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 all mains services (no services seen or tested). Business rates payable are advised as currently being free of charge.
The current owners purchased the business 14 years ago.
The business is being offered on a ‘free of tie’ lease agreement with a very low rent giving new owner operators a chance to build the business by introducing catering and further events along with longer opening hours.
Advised turnover for year ending 04/17 is circa £68,000 (no vat) on a 100% wet trade basis.
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
Details Prepared: Feb 2018
Note: Size quoted is usually the Total Useful Floor Area taken from the EPC and is for guidance purposes only and no responsibility is assumed by Guy Simmonds for the accuracy.
Viewing: All appointments must be made through Guy Simmonds. Please note that these Sales Particulars are issued on the strict basis that all negotiations, viewings and contacts in connection with this business are conducted through Guy Simmonds who are appointed by the vendor to act under a Sole Selling Rights agreement with total confidentiality. Any breach of these terms may make you liable in law to litigation and damages. Under no circumstances must you approach the owner direct without a formal appointment or disclose to other customers and staff that the Premises are for sale.
Finance for purchasing A licensed property: We are in constant touch with a leading finance broker who specialises in arranging Business Finance for Licensed Properties. Whether you are purchasing a Licensed Property through ourselves, or another agent, we will be pleased to contact on your behalf our specialist who can arrange the necessary Finance Package for you at preferential rates. Please telephone for free and no obligation advice with regards to financing a Business.
Guy Simmonds for themselves and for the vendors or lessors of this property and/or business whose agents they are give notice that:-
(I) These particulars are a general outline for the guidance of intending purchasers (or lessees) and do not constitute an offer or contract, nor any part of an offer or contract.
(II) All descriptions, dimensions, distances, maps/plans, references to condition, trading figures and other items in these particulars are given as a guide and no responsibility is assumed by Guy Simmonds for the accuracy of individual items. Intending purchasers (or lessees) should not rely on them as statements of representations of fact and should satisfy themselves as to the correctness of each item by making independent enquiries.
(III) Intending purchasers (or lessees) should make their own independent enquiries regarding the use of the property, necessary permissions for use and occupations, potential uses and any other matters affecting the property prior to purchase.
(IV) Guy Simmonds do not make or give whether in these particulars, during negotiations or otherwise, any representation or warranty in relation to this property. No responsibility is taken by Guy Simmonds for any error, omission or mis-statement in these particulars. Guy Simmonds do not warrant the accuracy of any accountancy information supplied and purchasers are advised to take independent advice in order to satisfy themselves.
(V) Guy Simmonds are unable to give any warranty as to the working order of any apparatus, equipment, fittings or services associated with the premises and therefore, cannot verify they are in full working order. Purchasers are strongly advised to obtain specialist reports prior to exchange of contracts in order to satisfy themselves.
(VI) All statements and descriptions are made without responsibility or warranty by Guy Simmonds, the vendors or lessees. Neither do Guy Simmonds nor the vendors/lessees hold ourselves responsible for any expenses whatsoever incurred by applicants inspecting Businesses which may be sold or withdrawn, to include travelling, valuation/survey, legal fees etc.
(VII) No person in the employment of Guy Simmonds has any authority to make or give any representation or warranty whatever in relation to this property.
(VIII) It should not be assumed that the contents of any photographs are included in the sale.
(IX) All prices quoted are excluding stock at valuation.