The property The Old Thatch Inn is an impressive and attractive Grade II Listed thatched Devon inn. This substantial and deceptively spacious property is presented to an extremely high standard throughout and still retains many character features including exposed wall and ceiling timbers and a double sided feature fireplace. Interested parties should note that the thatched roof is excluded from the tenants repairing obligations within the lease, further details are available upon request. This high quality free of tie village inn briefly comprises: Character Main Bar Area (20+), Two Dining Rooms (42), Commercial Catering Kitchen, 2 En-Suite Letting Bedrooms and well appointed Living Accommodation with Sitting Room, Kitchen/Dining Room and 2 En-Suite Double Bedrooms. Externally, the property benefits from a Customer Car Park for 18 vehicles, Front terrace area (10) and rear Beer Garden and Patio providing outside seating for 60 customers. The Old Thatch Inn is a well presented country village inn and a viewing is strongly recommended to fully appreciate the standards inherent throughout all aspects of this business.
Situation The Old Thatch Inn is an attractive and renowned landmark village inn and destination pub restaurant and being the only pub in the village. Located just off the A30 main road in the Mid Devon village of Cheriton Bishop, a thriving and growing village community on the edge of Dartmoor National Park's eastern flank, which is only eleven miles from Exeter. The A30 is a busy tourist route between Devon and Cornwall and the village benefits from excellent access to the major towns of Okehampton and Crediton as well as the Cathedral and University City of Exeter, which offers two mainline rail links to Londonand an International Airport. Lying on the fringes of Dartmoor National Park, there is easy access to the thousands of acres of beautiful unspoilt moorland countryside, offering a wide variety of outdoor pursuits.
Internal details Main customer entrance door to front with thatched entrance porch leading into the Main Bar an attractive
character filled room with flagstone flooring, exposed wall and ceiling timbers, wall mounted menu boards, wall mounted colour television, feature fire place with inset double-sided wood burning stove, range of free standing wooden tables, upholstered wooden chairs, bar stools and window, seating comfortably for 20 customers plus adequate standing area. Substantial and timber fronted polished timber topped Bar Servery fitted with associated back bar fittings, optics and display shelving with Altro flooring, two double glass fronted bottle fridges, epos touch screen cash register with printer linked to kitchen, glass washer, and sink. Dartmoor Room an attractive character dining room, tastefully furnished and decorated with carpeted flooring, exposed ceiling timbers, feature fireplace with inset double-sided wood burning stove, range of free standing wooden tables and chairs comfortably seating 24 customers.
Through into the Military Room a further dining room with a continuation in style, theme and ambience, with carpeted flooring, exposed ceiling timbers, darts oche area, door to rear trade garden and range of free standing wooden tables and chairs, comfortably seating 18 customers. Ladies and Gents WCs. Beer Cellar temperature controlled on the ground floor with extensive storage shelving, wine racking, Belfast sink, ice machine, stillage and delivery doors to the side. Office. Commercial Catering Kitchen with Altro flooring, part tiles and part stainless steel clad walls, fully equipped to an exceptionally high standard with a comprehensive range of commercial catering equipment to include :- six burner gas range, flat topped grill, twin floor standing deep fat fryer, combi oven, two commercial microwave ovens, extractor system with stainless steel canopy over and gas interlock, two door commercial under counter fridge unit, under counter commercial fridge, four door under counter commercial fridge unit, stainless steel hand basin, stainless steel wall shelving, serving gantry with warming lamps, and plate warming cabinet. Wash up area with Altro flooring, deep bowl stainless steel sink unit, stainless steel work surfaces with shelving below, stainless steel rack shelving, commercial upright fridge, commercial dishwasher and glass fronted fridge. Preparation room with Altro flooring, stainless steel wall shelving, work surfaces, two washing machines, wall mounted boiler and door to rear.
Please note: The fittings, equipment and services listed have not been tested by the agents, although we are informed that all items are in working order.
Letting accommodation Under previous ownership, The Old Thatch Inn offered two en-suite letting bedrooms. Currently these rooms are used as additional private accommodation, however they could be easily reinstated as letting bedrooms and briefly comprise: - Bedroom 3 - a double room with aspects to the front and an en suite bathroom with shower over bath. Bedroom 4 - a double room with aspect to the front and an en suite bathroom with shower over bath. The letting rooms are situated on the first floor and benefit from an entrance door to the front allowing access without going through the main pub.
External details To the front of the property is a Seating Terrace with bench seating for approximately 10 customers. On the opposite side of the road is the Private Customer Car Park with marked spaces for 18 vehicles. Directly to the rear of the property, is a patio and gravelled Customer Trade Terrace leading through to an enclosed Lawned Trade Garden with al fresco seating for around 60 customers, wooden storage shed and a feature well. Leading from the kitchen area is a part covered storage area with walk in fridge (not currently used), a
commercial double upright freezer. Service yard area with bulk lpg tank, storage sheds and bin store area.
Private accommodation Situated on the first and second floor is the wellappointed owner's apartment which briefly comprises :Sitting Room with aspect to the front and feature fire place (disused). Kitchen/Dining Room with aspect to the front, fitted with a range of modern base and wall mounted kitchen units, complementary work surfaces and built in cooker. Bedroom 1 - a double room with aspect to the rear and an en suite bathroom with shower over bath. Bedroom 2 - a double bedroom on the second floor with exposed ceiling timbers, aspect to the rear and en suite bathroom with shower over bath. One of the bedrooms could also be used as a letting bedroom, dependant on personal requirements.
The business The Old Thatch Inn is well presented throughout and trades as quality country village pub and restaurant with letting bedrooms (not currently utilised), located in a popular Devon village. With many character features throughout the property, The Old Thatch Inn is a popular and well regarded business with an excellent reputation which benefits from excellent levels of regular, year round trade, not only from the village, but also from the surrounding villages and towns. As the only pub in the village, the business benefits from an excellent local following and its proximity to the A30, with prominent signage, boosts trade levels further. The business is well regarded for its quality freshly prepared food, using the best available local produce, set within a quintessential thatched character freehouse. The Old Thatch Inn has its own website which provides further background and menus, an active social media presence and has received a number of favourable reviews on TripAdvisor. The inn is featured in the Dartmoor Real Ale Trail and the Good Pub Guide and has a 5 Star Food Hygiene rating. The Old Thatch Inn also has a darts team. The inn also undertakes outside catering and buffets for a nearby wedding and party venue and the Devon Young Farmers Club Rural Hub which is based in the village. This is an attractive business opportunity which has been the subject of upgrade and improvement by our clients and which offers tremendous potential to develop all aspects of the trade still further and build on the current business levels. The sale of The Old Thatch Inn represents and excellent opportunity to purchase a well regarded thatched country village inn and restaurant with letting bedrooms and good sized owners accommodation. The Old Thatch Inn is undoubtedly a very special place to live and work and a formal viewing is essential in order to appreciate all that this high quality business and property has to offer.
Trading information Accounts provided for the year ending 31 July 2017 show sales of £385,450 net of VAT. The trade split is 53% wet sales, 44% food sales and 3% accommodation and other sales. Accounting information can be made available to interested parties following a formal viewing appointment.
Opening hours The Old Thatch Inn trades from midday until 11pm Monday to Thursday, 11am until 11pm Friday and Saturday and midday until 10.30pm on Sunday. Food is served from midday until 3pm and from 6pm until 9pm, however currently no food is served on Sunday evening or all day on Monday and Tuesday.
Current staffing The business is run by our clients with the assistance of a team of 12 full and part time members of staff.
Potential Our clients advise that there is potential to develop all aspects of the trade still further and for future growth in trade levels and maximising the available income streams. There is potential for up to three letting bedrooms to be utilised again (dependant on personal requirements) in order to bring in a steady year round income stream and there are also opportunities to serve food all day, particularly in the summer months and at weekends, and build on the solid levels of trade already
established. There is also the potential to expand the outside catering offer, for which undoubted demand exists.
EPC Listed property and therefore exempt.
Rating For up to date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office website .
Services We are advised that mains electricity, water and drainage are connected to the property. Lpg is used for heating and cooking.
Price & tenure £75,000 for the valuable free of tie leasehold 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 business is offered for sale on the remainder of an 8 year (7 years unexpired), free of tie, internal repairing and external decorating private lease (to exclude any tenants' liability for the thatch roof) at a rent of £25,200 plus VAT per annum. The lease is subject to rent reviews every 3 years.
Viewings 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.
Finance 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.