Falmouth, TR11

Leasehold Pub & Restaurant For Sale In Falmouth

Alcohol Licensed 9am - 1am daily

Premises licensed for opening 8am - 1.30am daily

Ref 2088

Location

This successful business is located in the centre of the vibrant harbour, beach and university town of Falmouth, on Cornwall's south coast. The property enjoys unrivalled views of the vast harbour, Pendennis castle and the river Fal estuary. With a resident population of 27,000 Falmouth is one of Cornwall's premier locations for tourists, students and locals and it was recently named by the Sunday Times as the 'best place to live' in the south west of the UK. Falmouth enjoys an unusually long tourist 'season' owing to the town's investment in highly popular festivals running in the late spring and autumn such as the International Sea Shanty and Oyster festivals.

Business information

Asking Price: £124,950 plus SAV

Turnover: £479,286 net of vat pa

Detailed accounts are available following a formal viewing

Business Description

Veritas Business Sales are delighted to offer this rare opportunity to purchase a thriving and growing business for sale due to owners' retirement. Our clients have heavily invested in the business during their tenure and any purchaser would benefit from the high-quality fixtures, fittings and equipment. The wet to dry split averages at 60: 40 across the year, with dry sales significantly boosted during school holiday periods as our clients have established a family friendly reputation. Furthermore, the business is in a prime location for high footfall in addition to the very attractive views available from the dining room. The venue benefits from consistently high trade year-round with a loyal local base and university students boosting trade through the winter months. This business offers opportunities to grow in the future with potential for the building to be developed to incorporate a sun terrace (subject to planning) as well as the council's current plans to convert the car park at the rear of the pub into a public space for events and recreation.

Opening Hours

Monday - Wednesday - 11.00am - 11.00pm

Thurs - Sat - 11.00am - 1.00am

Sun - 11.30am - 11.00pm

Leasehold

EI publican Partnership Lease

Original term: 10 years

Remaining: 3 years

Rent: £43,000 pa plus VAT

Rates: £16,000 pa

Free of tie ale, wines, minerals & packaged

products.

Ground Floor

Main Bar

With a mix of wood, newly carpeted and tiled floors with a 27' mahogany bar and attractive beamed ceiling. Seating for approximately 115 covers, many benefiting from the outstanding water views the property boasts.

First Floor

Trade kitchen

Fully equipped with commercial appliances and non-slip altro flooring throughout.

Prep Room with preparation counters, freezers and hand cut chip machine.

Dry Store, providing further storage and freezer areas.

Owners' Accommodation

The owners' accommodation is arranged over the first and second floors benefitting from private access. Comprising of large lounge, galley kitchen with access to a roof terrace, two double bedrooms, one of which is currently utilised as an office.

Lower Ground Floor

Ladies and Gents Toilets. Cleaner's and glass storage area plus extensive caged secure storage area.

Cellar

Very large temperature controlled cellar comprising of four rooms including recently fully replaced beer dispense equipment and large real ale two tier racking auto-tilt system.