Truro, TR2

This outstanding concern is located in the picturesque village of Philleigh, which lies about seven and half miles southeast of Truro on the Roseland Peninsula. Truro is classed as the administrative hub for Cornwall and can be also accessed via the famous King Harry Ferry and the desirable fishing village of St Mawes is just a short distance away.

Financial information

Asking price: £90,000 plus SAV

Turnover: £384,107 net of vat pa

Gross Profit: £239,017

Stock value: £5,000

Adjusted net profit: £61,192

Leasehold

Punch Taverns full repairing lease

Original term: 15 years

Remaining : 7 years

Reviewed: 5 yearly

Rent: £35,000 plus vat per annum

Rates: £16,000 per annum

Business Description

Veritas Business sales are delighted to offer for sale this respected grade II listed 16th century Gastro pub which also has a fully equipped micro brewery and farm shop that are both currently unused. The business has been trading for over 200 years and been in the careful hands of the current owner for the past 3 years but he has been involved for several. Reluctantly the business is being offered for sale as the owners have a young family that needs more of their time. Since our clients have taken ownership of the business they have continually invested in new fixtures, fittings and equipment which are all bought and paid for and included within the sale price which means any new purchaser will not have to spend any additional funds for some time. The business has an annual turnover of £384,107 with a gross profit of £239,017. Around 35% of turnover is from wet sales and the remaining 65% of turnover is from hearty home cooked food sales, using only the freshest produce. There is a tie on draught beers, bottled beers, ciders and soft drinks with the exception of wines, and spirits which are free of tie. This successful concern is currently owner operated and employs 3 full time and 9 part time members of staff which is reduced down to 2 in the winter months. We believe that there is further untapped potential by introducing all day openings, along with re-opening the micro brewery and farm shop. The business enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with many visiting tourists. We consider this a rare opportunity to purchase an established business, which is a great base to build upon and as such early viewing is highly recommended as this superb business is not to be missed.

Opening Hours

Monday - Sunday - 11am - 3pm - 6am -11pm

Ground Floor

Main bar with servery to include stainless steel sink unit, glass washer, cash register, bottle cooler, ice making machine. Trading area with seating for (15), brick fireplace with multi fuel burner. Second trading area with additional seating for (20)

Restaurant with seating for (30) with stone built fireplace and wood burner

Commercial kitchen comprising: 3 x deep fat fryers, 2 x commercial microwaves, 6 ring commercial gas hob & oven, 4 ring commercial gas hob & oven, 2 x salamander grills, extractor unit, chef master microwave, microwave, stainless steel counter fridge, 3 door counter fridge unit, hotplate, 2 x counter fridge units, chest freezer,, commercial dishwasher and wash basin

Gents w/c, 3 x urinals and wash basin

Ladies 2 x w/c and 2 x wash basin

Farm shop not in use

Garage with potential for 2 x letting rooms.

First floor

Double bedroom with en-suite bath, w/c and was basin 2 x Double bedrooms Lounge Kitchen Bathroom with bath, w/c and wash basin

Cellar

Comprising Main beer cellar Bottle store room with beer drop and sink

External

Frontage with a delightful and well maintained paved patio beer garden equipped with picnic tables for approximately (40) covers. Rear of the property lies a private garden area with static caravan Opposite you have a patrons carpark for (20) plus vehicles