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Leasehold Freehouse Restaurant In Tintagel For Lease

Tintagel, Cornwall
Asking Price:
£99,950 Furniture / Fixtures included
Sales Revenue:
£421,271
Cash Flow:
Available on request

Veritas Business Sales are delighted to offer for sale this stunning Public House/Restaurant & Inn which is located in Tintagel. The property has been a major feature in village for many years and has been in the careful hands of the current owners for the past three years. The business is now being offered for sale so that our clients can enjoy a well deserved retirement. Since ownership they have kept the property in good order and continually invested in new equipment along with fixtures and fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. The Cornishman Inn is operated under management with the help of 3 full time and 5 part time members of staff and has an annual turnover of £421,271. Approximately 42% of turnover comes from wet sales where you have 3 separate bar areas and offer an extensive range of ales, wines, spirits, cocktails and soft drinks. Room income is 31% of turnover where you have 11 en-suite guest bedrooms equipped with central heating, colour TV’s and tea & coffee making facilities. Food sales equate to 25% of income where they serve a varied menu to include home made specials which are all freshly prepared to order on site using only the finest locally sourced produce. The remaining 2% derives from machine income. The business benefits from an enormous influx of tourists during the season yet remains busy with the locals off-season. Externally there's a large mature beer garden with children’s play area and shepherd’s hut. The Cornishman Inn would thrive on a husband & wife team or food based operators to enhance the food sales. The business already enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade from visiting tourists. This is a superb opportunity to purchase a business that has already benefited from significant investment which is a great base to build upon and as such early viewing is highly recommended as this gem is not to be missed.

Property information

Property:

Leasehold

Lease Terms:

Original term: 20 years
Term remaining: 17 years
Rent: £55,000 pa
Reviewed: 5 yearly
Business rates: £16,711

Leasehold Rent:

£55,000 per annum

Living Accommodation:

Owners accommodation
3 double bedrooms
Kitchen
Lounge
Full bathroom

Location:

The Cornishman Inn is located in the village of Tintagel set high on the rugged North Cornwall coast. Tintagel has dramatic sea views all within walking distance. This is a spectacular place, steeped in myths, mystery and beautiful coastal path walks. The village and nearby Tintagel Castle are associated with the legends surrounding King Arthur and The Knights of The Round Table. The Cornishman Inn is an ideal place to be based for exploring the surrounding area.

Premises Details:

Ground Floor
Entrance (4.0m x 3.0m) comprising: 2 tall bar tables with 8 bar stools, various pictures and upright piano.
Restaurant (10.25m x 7.0m) comprising: tables & chairs to cover (34), menu boards, various pictures, coffee machine (Cino), 2 touch screen cash registers, toaster (Dualit), hot water dispenser (Buffalo), filter coffee machine, single door under counter drinks fridge (Gamko), 2 double door under counter drinks fridges (Gamko),music system, wall mounted TV x2 (LG), glass washer (Prodis), 2 high chairs and 2 settees.
Cellar with all the usual cellar requirements.

Bar/Snug (6.1m x 7.4m) comprising: feature fire place, various pictures and 5 tall bar tables with chairs.
Bar/Games Room (13.0m x 7.3m) comprising: touch screen cash register, single door under counter drinks fridge (Gamko), 2 double door under counter drinks fridges (Gamko), sink with drainer, 6 bar stools, 6 tall bar tables, 2 slate bed pool tables, wall mounted TV (Samsung), wall mounted TV (LG), dart board with digital scorer, 8 bench seats and cutlery oak cabinet. Sun Room (6.9m x 3.3m) with 3 tables with chairs and 2 large bench seats. Gents W/C, 3 urinals and wash basin. Ladies with 2 x W/C’s, wash basin and wall mounted mirror. Cellar with all the usual cellar requirements.

Ground Floor
Commercial Kitchen (8.1m x 5.0m) comprising: 7 stainless steel prep tables, stainless steel sink with drainer, wash basin, commercial sink with directional hose and drainer, pot wash machine (Comenda), pizza oven (Lincat), stainless steel upright fridge (Gram), stainless steel upright fridge (Electrolux), salad bar stainless steel unit (Polar), microwave (Panosonic), combi oven (Chef-Mate), fryer (Imperial), 2 Fryers (Mareno), 6 burner oven (Zanussi), various stainless steel shelves, extraction canopy, salamander grill (Falcon), freezer room (Pokka 2.5m x 1.5m )and upright freezer (Frigidaire).

Prep Kitchen (2.0 x 3.5m) comprising: stainless steel table with drainer shelves and drawers, upright freezer (Bosch), upright fridge (Electrolux) and microwave (Sanyo).
Storage area (3.5m x 1.2m) with various shelving and 2 upright stainless steel freezers.

Ground Floor
Accommodatiom
Room 11 (4.8m x 3.6m) double with en-suite w/c, wash basin, shower and wall mirror.

First Floor
Room 1 (3.7m x 3.4m) twin en-suite with w/c, wash basin, shower and wall mirror.
Room 2 (3.7m x 3.4m) twin en-suite with w/c, wash basin, shower and wall mirror.
Room 3 (3.7m x 3.4m) double en-suite with w/c, wash basin, shower and wall mirror.
Room 4 (3.7m x 3.4m) twin en-suite with w/c, wash basin, shower and wall mirror.
Room 5 (3.7m x 3.4m) small family room with en-suite w/c, wash basin, shower and wall mirror.

Second Floor
Room 6 (3.7m x 3.4m) double en-suite with w/c, wash basin, shower and wall mirror.
Room 7 (3.7m x 3.4m) double en-suite with w/c, wash basin, shower and wall mirror.
Room 8 (3.7m x 3.4m) double en-suite with w/c, wash basin, shower and wall mirror.
Room 9 (3.7m x 3.4m) single en-suite with w/c, wash basin, shower and wall mirror.
Room 10 (5.2m x 3.2m) large family room en-suite with w/c, wash basin, shower and wall mirror.

External Large garden with 16 garden tables Car park with parking for (40) Patio area with 16 garden tables Smoking shed with tables & tables

Business Operation

Reasons for selling:

Retirement

Trading hours:

Monday – Sunday – midday – 11.00pm

Other Information

Inventory / Stock value:
£5,000

Contact Information

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