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Historic Town Centre Freehouse With Letting Rooms

Redruth, Cornwall
Leasehold Price:
£39,950
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
243398
Reference
4778 / Rightbiz

Details

THE PROPERTY
The Collins Arms is reputedly the oldest public house in Redruth with origins believed to date back to 1743 as a pub. Having been the subject of extensive upgrade, improvement and modernisation by our clients during their 18 years of ownership. The Collins Arms is consequently presented in first class order throughout. The business trades as a pub with wet sales, together with 5 popular letting rooms, including 2 self-contained family suites. No food sales are currently undertaken. This well presented, easy to run business briefly comprises: - Main Bar (24 ), Further Bar & Pool Room (32 ), Kitchen, 5 Letting Rooms including 2 Self-Contained En-Suite Family Suites, Owners Accommodation with Sitting Room, large Bedroom with En-Suite Shower Room. The property has an attractive Enclosed Rear Courtyard and various useful store rooms and outbuildings. An internal inspection is essential in order to fully appreciate the significant levels of investment undertaken by our clients. 

SITUATION
The Collins Arms is situated in Higher Fore Street just off the main high street on the edge of Redruth town centre. Redruth is an historic town, built up around the boom time which surrounded the extraction of tin and copper in the surrounding mines and most latterly has been subject to an upgrade and pedestrianisation scheme to the main shopping areas. Redruth is situated close to the main A30 trunk road linking east and west Cornwall and boasts a resident population in excess of 12,000 people. However, this has been significantly increased over recent years following considerable residential housing development in the area. 

INTERNAL DETAILS
GROUND FLOOR - Double entrance doors to front into Entrance Hallway open plan through into Main Bar Area with part carpeted flooring, range of upholstered perimeter seating, free standing wooden topped tables, wooden chairs, bar stools and low stools comfortably seating 24 plus ample standing room, wall mounted large screen television, painted ceiling timbers, sold oak topped Bar Servery fitted with associated back bar fittings, optics and display shelving, triple glass fronted bottle fridge and glasswasher. Open plan from main bar area into Games Room/Seating Area with Altro wood effect non-slip flooring, pool table area, 2 darts oches, wall mounted large screen television, upholstered window seating, perimeter seating, free standing wooden topped tables, wooden chairs, comfy sofa, comfortably seating 32 customers plus ample standing room. Painted ceiling timbers. Kitchen well equipped with fully tiled walls, perimeter worksurface with cupboards and open shelving below, extractor hood, 5-burner gas range and double oven, fridge freezer, under counter freezer, dishwasher, stainless steel sink unit, wall shelving, microwave oven and door to rear. Ladies & Gents WCs. Beer Cellar with fully clad walls and stainless steel sink unit. Covered Walkway and Seating Area leading to rear courtyard area.   

Please note: The fittings, equipment and services listed have not been tested by the agents, although we are informed that all items are in working order.

EXTERNAL DETAILS
To the rear of the pub is an attractive enclosed Courtyard Garden with seating for 20 customers, bin store area and pedestrian access to the front and side. Laundry Room/Workshop/Store Room. Further Store Room and a Dry Goods Store. Bin store area. 

LETTING ACCOMMODATION
5 extremely well appointed letting bedrooms including 2 self-contained family suites, all recently refurbished to an extremely high standard throughout and comprising remote control colour televisions, tea and coffee making facilities, alarm clock radios, hairdryers, and bathrobes. The accommodation is briefly arranged as follows: - Bedroom 1 - a standard double room with vanity unit on the first floor. Bedroom 2 - a standard twin room with vanity unit on the first floor. Bedroom 3 - a standard single room with vanity unit on the first floor. Bathroom with shower over bath for shared use of bedrooms 1, 2 and 3. Bedroom 4 - a self-contained family suite (sleeps 4) on the ground floor with independent access from the courtyard, comprising Kitchen Area, Seating Area and En-Suite Shower Room. Bedroom 5 - a self-contained family suite on the ground floor with independent access from the courtyard comprising Double Bedroom, further Twin Bedroom with futon bed (sleeps 3), Sitting Area with dining table and chairs and En-Suite Shower Room. The spacious and flexible letting accommodation could be reconfigured to suit individual personal requirements to provide additional owners bedrooms if so desired.  

PRIVATE ACCOMMODATION
Situated on the first floor is a Sitting Room with aspect to rear, large Double Bedroom with aspect to front, Walk-In Wardrobe and En-Suite Shower. 

THE BUSINESS
The Collins Arms is a traditional wet led town centre freehouse which enjoys a popular local following. Our clients do not undertake any food sales and the pub benefits from 9 dart teams, 2 pool teams, and a euchre team. There are also monthly quiz nights, monthly karaoke nights, and various in-house darts competitions are organised throughout the year. Our clients have owned and run the business for over 18 years and during this time they have undertaken a significant programme of investment and refurbishment including creating the letting bedrooms. The business has a website www.collinsarms-redruth.co.uk which provides further background on the business. Bookings are derived from this website together with a number of high profile web based accommodation booking agencies and The Collins Arms has received a number of extremely favourable reviews. 

TRADING INFORMATION
Accounts for the year ending 31st March 2018 show sales of £113,842. The business shows an adjusted net profit in excess of £25,000, before rent. Full detailed accounts can be made available to interested parties following a formal viewing appointment. 

OPENING HOURS
The current opening hours are 5:00pm until midnight Monday to Saturday and 4pm until midnight on Sunday. 

CURRENT STAFFING
The business is run by our clients, a husband and wife team, with the assistance of 1 part-time and 1 casual member of staff. 

POTENTIAL
The Collins Arms offers new owners tremendous potential to build on this already successful business with opportunities to extend the current opening hours, introduce food sales for residents and non-residents alike, and even to create additional letting bedrooms within the outbuildings. The letting income continues to grow with excellent levels of forward bookings and many repeat customers returning. 

EPC
C - 73.

SERVICES
All mains services are connected to the subject property.

PRICE & TENURE
£39,950 for the valuable free of tie leasehold interest as a going concern business and full trade inventory.  Wet and dry stocks to be additional at valuation.  Vacant possession upon completion. The business is being offered with the benefit of a new 10 year renewable lease, at an initial rent of £15,000 per annum. Further terms to be agreed. Please contact us for further details.  

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.  We can then confirm whether or not it is still available.

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

Seller Details
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Listing Details
Leasehold Price: £39,950
Tenure: Leasehold
Sector: Freehouse, Pubs
Key Features
  • With Accommodation
  • Town Centre location
  • Free of Tie Leasehold
  • Home Based
Location Statistics
What's nearbyi:
Redruth Station (approx. 0 mile)
AlmaGallery (approx. 0 mile)
The Cornwall Centre (approx. 0 mile)
The Idler (approx. 0 mile)
Cornish Studies Library (approx. 0 mile)
Shoe Zone (approx. 0.1 mile)
Nationwide (approx. 0.1 mile)
Penventon Park Hotel (approx. 0.4 mile)
Miners Arms (approx. 0.4 mile)
Tesco Superstore (approx. 0.4 mile)
Listing Statistics
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