St Issey, PL27

Leasehold 17th Century Inn/Restaurant & Letting Rooms For Sale

Located In The Stunning Award Winning Village Of St Issey near Padstow

Ref 2194

Location

This successful Pub & Restaurant is located in the stunning village of St Issey which is just 2 miles south of Padstow and 4 miles west of Wadebridge on the A389. Positioned on a corner opposite the parish church the Ring O Bells known locally as 'The Ringers' dates back to the 17th century and is one of the oldest inns in the area. In more recent times the pub featured prominently in ITV's 'Cornwall with Caroline Quentin'. St Issey is said to be one of the most desirable places to live in the South West.

Business information

Asking Price: £69,500 plus SAV

Turnover: £251,028

Stock: £5,000

Leasehold

EI publican Partnership Lease

Original term: 30 years

Remaining: 13 years

Rent: £24,577 pa plus VAT

Rates: £10,500 pa

Free of tie on spirits, wines, minerals & packaged

products.

Business Description

Veritas Business Sales are delighted to offer for sale this well respected Pub & Restaurant with letting rooms which is located in St Issey near of Padstow. The business dates back to the 17th century and has been in the careful hands of our clients for the past 13 years and is reluctantly being offered for sale so that they can enjoy a well deserved retirement.

Since ownership they have continually redeveloped, refurbished and invested in new equipment along with fixtures

& 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 business is owner operated and requires the help of 2 full time and 3 part time members of staff and has an annual turnover of £251,028 with a gross profit of £140,633 (56%). The Ring O Bells serve quality fine ales with wet sales equating to 55% of the annual turnover, food sales are 35% where they serve good honest home cooked fayre which is freshly prepared to order on site using the finest locally sourced produce. The remaining 10% comes from the tastefully decorated letting rooms that benefit from flat screen TV's and tea & coffee facilities. We believe that there is further potential to increase trade should you wish as the 4th guest bedroom is currently a store room and not being utilised. 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. This is a superb opportunity to purchase an established lifestyle business and as such early viewing is highly recommended as this business is not to be missed.

Opening Hours

Lunch

Monday - Friday - Midday - 2.30pm

Evening

Monday - Friday - 6.00pm - 11.00pm

Saturday & Sunday - Midday - 11.00pm

Ground Floor

Bar/Lounge (9.7 x 8.4) comprising: bar servery with 11 taps, 6 bar stools, pool table, 8 tables with chairs, feature stone built fire place, various pictures, TV (Panasonic), bench seat and wall mirror

Bar equipment: 2 under counter double door drinks fridge (Blizzard), under counter single door drinks fridge, glass washer (Cleanaware), electronic till (Casio), various shelves and music system.

Restaurant (13.0m x 3.1m) comprising: 9 tables with chairs, large wall mirror, 2 children's high chairs, 2 wooden corner shelf units and various pictures.

Kitchen (4.1m x 4.0m) comprising: 2 chiller units with stainless work tops and 3 doors stainless steel plate warmer, 3 microwaves (Sanyo), single fryer (Kestrel), single fryer (Parry), 3 stainless steel tables, salamander grill (Yoeman), grill (Panasonic), various pans, extractor unit (GCS), hand wash basin, commercial sink with drainer and stainless steel centre work station.

Prep room (4.8m x 2.8m) comprising: various shelves, stainless steel table, Upright freezer (Mondial), stainless steel shelving system, commercial sink, dishwasher (Winter Halter), fridge (Lec), toaster, washing machine Zanussi) and ice making machine (Whirlpool),.

Store room (4.7m x 1.7m) with various shelves, stainless steel table, upright fridge (Beko), desert fridge and various pots and pans.

Office (2.7m x 2.8m) with 2 desks, office chair, various shelves, printer (HP) and safe

Cellar (3.2m x 2.00m)

Gents W/C with urinal and hand wash basin

Ladies W/C with mirror and hand wash basin

First Floor

Guest Accommodation

Bedroom 1 Twin room with en-suite

Bedroom 2 Double room with en-suite

Bedroom 3 Double room with separate bathroom

Bedroom 4 Single room with wash basin

Bathroom with W/C, hand wash basin and bath with shower over.

All bedrooms benefit from flat screen TV's, tea and coffee making facilities.

Owners' Accommodation

The owners' accommodation is arranged over the first floor benefitting from.

Lounge

Bedroom 1

Bedroom 2

Bathroom

Kitchenette

Landing area

External

Courtyard garden

Patrons parking for (25)

EPC Rating E