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Substantial and Deceptively Spacious Detached Village Inn

South Molton, Devon
Freehold Price:
£625,000
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
243212
Reference
4772 / Rightbiz

Details

The Castle Inn is an impressive and deceptively spacious detached village inn with origins reputedly dating back to the 1880's. This attractive village inn is presented in first class order throughout and has been the subject of fastidious upgrade and refurbishment, by our clients, in the last 4 years. Almost no stone has been left unturned in the modernisation and improvement of the property with major works including; new roofs, new windows, upgraded electrics and central heating systems, new commercial kitchen and the creation of the quality letting rooms and impressive owner's apartment. This popular and extremely profitable freehouse briefly comprises: - Main Bar Area (21 ), Snug Bar Area (18), Dining Area (24), well equipped Catering Kitchen with Ancillary Facilities, 3 high quality Ensuite Letting Bedrooms and a superior and well presented 2 Double Bedroom (both Ensuite) Owner's Apartment with Sitting Room and fully fitted Kitchen/Dining Room. Externally, there are Customer Seating Areas to the front and rear, providing alfresco seating for around 54 customers, a private Owner's Patio Area with hot tub, Customer Car Parking for 17 vehicles, with additional parking available nearby, various useful Outbuildings/Stores and a Garage. 

The Castle Inn occupies a prominent trading position in the centre of George Nympton, a popular rural village in the heart of North Devon. George Nympton is surrounded by open countryside and is located approximately 1.5 miles from South Molton and 10 miles from Barnstaple. Exmoor National Park and North Devon's stunning beaches and coastline are within easy reach by car and the area is renowned for its varied country activities including walking, riding, cycling, fishing, and golf. The bustling market town of South Molton offers a host of facilities, including a Sainsburys supermarket, weekly pannier and agricultural markets, Mole Valley Farmers superstore and a range of interesting local shops. South Molton itself is easily accessible from the A361, North Devon link road with easy access to both Barnstaple to the North and Tiverton and Junction 27 of the M5 motorway and a mainline rail link to London, to the South. 

INTERNAL DETAILS
Main entrance door to the front leads into Entrance Vestibule with door into Main Bar Area an attractive space with part slate flagstone and part carpeted flooring, wall mounted menu boards, feature lighting, freestanding wooden tables, upholstered wooden chairs, comfy seating, wooden settles and bar stools for 21 customers plus adequate standing room. Substantial timber fronted and polished timber topped Return Bar Servery with Altro flooring and fitted with a range of back bar fittings, display shelving and optics with double glass fronted bottle fridge, single glass fronted bottle fridge, stainless steel sink unit, and glass washer. Coffee Station Area with Altro flooring, commercial coffee machine, coffee grinder and milk fridge. Dining Area open plan from the main bar with carpeted flooring, feature open fireplace with inset wood burning stove, wall mounted menu boards, feature lighting, range of freestanding wooden tables and upholstered wooden chairs comfortably seating 24 customers. Snug Bar with wood flooring, entrance door from the rear car park and giving access to the rear trade garden, feature open fireplace with inset woodburning stove, part wood panelled walls, darts oche area, range of freestanding wooden tables, high back leather effect chairs, and perimeter upholstered bench seating for 18 customers. Beer Cellar temperature controlled on the ground floor with delivery access to the rear, stillage and racked shelving. Ladies and Gents WCs. Commercial Catering Kitchen with Altro flooring, part stainless steel and part wipe clean clad walls, being fitted to a high standard with a comprehensive range of commercial catering equipment to include 6 burner gas range, eye level grill, extractor system with stainless steel canopy over and gas interlock, stainless steel work benches with shelving below, 2 twin table top deep fat fryers, 3 door commercial undercounter fridge unit, stainless steel racked shelving, 3 commercial microwave ovens, stainless steel hand basin, plate warming cabinet, stainless steel wall shelving, upright commercial fridge and upright commercial freezer. Store Room. Wash Up/Preparation Room with Altro flooring, wipe clean clad walls, stainless steel work benches with shelving below, 2 deep bowl stainless steel sink units, pass through commercial dishwasher, stainless steel wall shelving, 2 microwave ovens, 2 door undercounter commercial fridge unit and fridge freezer. Utility Room/Store.   

LETTING ACCOMMODATION
The business offers 3 individually designed, high quality Ensuite Letting Bedrooms furnished to a high standard with remote control colour televisions, hairdryers, Wi-Fi, tea and coffee making facilities with separate coffee machine. The bedrooms are well proportioned and characterful with quality furnishings and briefly comprise: - Bedroom 1 a superior kingsize double bedroom with dual aspect to the front, and an Ensuite Shower Room with a deluge shower. Bedroom 2 a double bedroom with aspect to the front and an Ensuite Shower Room.  Bedroom 3 a superior kingsize double bedroom with dual aspect to the front and an Ensuite Shower Room with a drench shower.   

PRIVATE ACCOMMODATION
Situated on the first floor is the impressive and well-appointed owner's apartment which provides superior living accommodation. Having been completely refurbished to an extremely high standard throughout, it briefly comprises: - Sitting Room aspect to the rear, open plan into Kitchen/Dining Room fitted to an exceptionally high standard with a range of modern base and wall mounted kitchen units and complementary wooden worksurfaces with integrated hob, oven, extractor unit, fridge and feature breakfast bar area. Bedroom 1 a generously proportioned spacious double bedroom with aspect to the rear and Ensuite Bathroom with separate shower cubicle. Bedroom 2 a good sized double bedroom with aspect to the rear and Ensuite Shower Room

EXTERNAL DETAILS
To the front of the property is an enclosed Patio Trade Area providing seating for around 10 customers. To the front, side and rear of the property are Customer Car Parking Areas with space for around 17 vehicles and additional unrestricted parking available nearby. Also, to the rear is an enclosed rear Patio Courtyard Garden with a part covered seating area with feature lighting and raised flowerbeds and providing al fresco seating for around 44 customers. There are a range of useful Outbuildings, Storage Sheds and a Garage. Directly to the rear of the pub is an Owner's Private Terrace Area with views over the adjacent farm land and a hot tub and storage shed.

Agents Note - The area of car park to the rear of the pub, is not owned by the pub, however the pub has a right to park up to 7 vehicles there.

THE BUSINESS
The Castle Inn trades as a traditional country village inn and destination restaurant offering home cooked pub food, real ales, cider and fine wines with high quality letting accommodation. The property has been completely refurbished and renovated to exacting standards by our clients in the last 4 years. The business enjoys a popular local following and boasts a strong year-round regular trade from not only the village, but also the surrounding hamlets, villages and towns, as  well as guests staying in the letting rooms and nearby self catering and bed and breakfast accommodation. The pub is home to a darts team, hosts occasional quiz nights and is seen as the hub of the village and is consequently a popular meeting place.  The business trades on limited hours and has seen continued year on year growth in trade levels with a significant six figure net profit being generated. The Castle Inn has been awarded an exceptional 9.7 (out of 10) rating on booking.com, a Tripadvisor Certificate of Excellence 3 years running and a 5-star food hygiene rating. The business has its own website www.castleinngn.co.uk which provides further background information. 

TRADING INFORMATION
Accounts for the year 31st March 2018 show sales of £309,409 excluding VAT which produced a significant net profit of £135,835. The split of trade is approximately 50% food sales, 40% wet sales and 10% accommodation sales. Additionally, the pub was closed for 3 weeks during this trading year in order for annual holidays.  Full trading information can be made available following a formal viewing appointment. 

OPENING HOURS
The Castle Inn opens limited hours, trading from midday until 3pm and 6pm until 11pm Wednesday to Saturday. midday until 10pm on Sunday and from 6pm until 10pm on Monday and Tuesday. 

CURRENT STAFFING
The business is run by our clients with the assistance of 7 part time members of staff. 

POTENTIAL
The Castle Inn is an extremely well regarded and popular country village inn which is very much the focal point of the local village community and which has shown consistent growth in trade every year during our clients 4 year of ownership, but which still offers further potential for incoming operators. Undoubtedly, there are opportunities to increase the current trading hours, especially during the summer months and to build upon the solid levels of trade already established by our clients. In particular there are opportunities for further promotion of the letting bedrooms and to make use of online marketing and social media promotion. The sale of The Castle Inn represents an excellent opportunity to purchase a well established and well regarded destination inn in a highly desirable area with impressive living accommodation, excellent levels of trade and exceptionally strong profits. An internal inspection is highly recommended in order to fully appreciate all that this superior business opportunity has to offer. 

EPC
D - 99. 

RATING
For up to date Business Rates and Council Tax information relating to this property, we refer you to The Valuation Office website www.voa.gov.uk.

SERVICES
All mains services are connected to the subject property except mains gas. LPG is used for cooking and oil is used for central heating and hot water. 

PRICE & TENURE
£625,000 for the valuable freehold interest as a going concern business and full trade inventory.  Wet and dry stocks to be additional at valuation.  Vacant possession upon completion. 

VIEWINGS
Strictly by appointment with the vendors Sole Selling Agents.Tel:(01392)201262.Email:info@stonesmith.co.uk
You are recommended to contact us before visiting the property even for an informal viewing.

FINANCE
An early discussion about finance can often save time and disappointment. If you would like independent specialist advice on funding, we recommend you contact us for a list of our approved brokers.


 

Seller Details
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Listing Details
Freehold Price: £625,000
Tenure: Freehold
Sector: Pubs, Freehouse, Barbers
Financials
Annual Turnover: £309,409
Annual Net Profit: £135,835
Key Features
  • With Car Park
  • With Accommodation
  • Accounts Available
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