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Landmark Coastal Hotel, Restaurant And Tea Rooms For Sale

Lynmouth, Devon
Asking Price:
£415,000 Furniture / Fixtures included
Turnover:
£400,000
Net Profit:
£100,000

* LOCATION! LOCATION! LOCATION!
* Locayed on the banks of the River Lyn and Lynmouth Bay
* A premises which attracts trade by virtue of its style and location
* Income derived from letting bedrooms, tea garden and restaurant
* 8 en-suite letting bedrooms all with river or sea views
* Well maintained and refurbished letting rooms and public areas
* Car park, beer garden, commercial kitchen
* Turnover approximately £400,000
* Heavily visited tourist trap destination overlooking the sea and River Lyn

LOCATION
Lynton and Lynmouth have a static population of 1,658, but benefit from the considerable holiday trade in the area. The regional centre of Barnstaple is approximately 25 miles. Access to the M5 via Junction 27 at Tiverton is approx. 35 miles distant.

THE SITUATION
The subject site is extremely well known, being on a promontory with views directly over the sea, harbourside and River Lyn. The situation is a tourist attraction in its own right. The property is in the centre of this highly visited destination village with vehicular access over the manor grounds, as well as a pedestrian foot bridge over the River Lyn onto Riverside Road.

THE PROPERTY AND CONSTRUCTION
Being a landmark building of two storey construction under pitched slate roofs with thatched ornamental verandas. The ground floor is principally arranged as public areas with two lofty reception rooms arranged as lounge / bar, restaurant and tea room. In turn, these two reception rooms have French doors leading onto the popular tea garden alongside. The main reception entrance from the car park links with a fully refitted commercial kitchen, as well as a residents snug restaurant which provides covers for 20 and overlooks both the River Lyn and Lynmouth Bay. There is a ground floor letting bedroom with the remaining 7 letting bedrooms being on the first floor all of which offer seas and / or riverside views as well as providing highly appointed and refurbished accommodation. Our client does not live on site and he rents a two bedroomed flat with car parking in the village, there is a possibility this could be made available for new owners.

THE PROPOSAL
Our client is, inviting offers for the Leasehold interest and an assignment of their existing lease at a current rent of £30,000 per annum. Alternatively the Town Council Landlords will consider the grant of a new 55 year term subject to their approval.

THE BUSINESS
The business is operated by our client assisted by a team of staff including general manager, chef, 2 house keepers, 2 bar staff with further part time staffing employed depending on the time of year. Our client operates throughout the year although previous owners have operated March - November, as such the business is able to be operated to suit new owners needs. The last two years have produced turnovers of £400,000, with 2017 yearend (March) expecting to show a net profit of circa £100,000. Accounts will be made available to interested parties following a viewing inspection. The business website is included within the sale as well as their on line booking system, which is linked to sites such as Expedia, Avvio etc.

THE STOCK
Any current stock to be purchased at valuation upon completion, estimated between £5,000 - £10,000 dependent on the time of year.

THE INVENTORY
The property is sold with a full inventory of trade fixtures, fittings and equipment.

LICENCE
The property enjoys a Premises Licence.

ENERGY PERFORMANCE CERTIFICATE
The property is Grade II Listed, as such an Energy Performance Certificate is not required.

THE ACCOMMODATION (comprises)

GROUND FLOOR ACCOMMODATION

The ground floor accommodation comprises :

ENTRANCE RECEPTION
With tiled floor, built in reception desk with computer. Overlooking front parking apron.

KITCHEN
Non slip flooring, commercial dishwasher, stainless steel double sink unit, 2 x chiller gantry's, contact grill, hot plate, 2 x fridges, 1 x freezer, double deep fat fryer, 6 burner gas oven, extractor system, 3 x microwaves, adjoining pantry store

INNER HALLWAY with access to

SEPARATE SNUG RESTAURANT
19`6 x 14`7 (5.95 m x 4.45 m) Exposed stone walling overlooking the river and sea, timber wainscoting, covers for circa 20, access to kitchen

LOUNGE BAR / RESTAURANT / TEA ROOM
37`4 x 22`0 (11.35 m x 6.70 m) In two principal sections, table and chair seating for circa 36, two communicating archways, additional bar stool and poseur tables, high ceilings with original coving, bar servery with recessed liqueur shelving, 2 x double chillers, wine fridge, glass washer, coffee percolator, coffee grinder, double coffee machine, cake fridge, microwave, hot chocolate maker, 2 x tills and management system linked to kitchen. French doors onto the TEA GARDEN

TOILETS with ladies 2 x separate wc's, fully tiled, gothic window, 2 x built in hand basin, radiator heating. Gents 2 x urinals, vanity hand basin, 1 x low level wc

BEDROOM 9
King Twin, ground floor letting bedroom, carpet, radiator heating, ceiling rose and coving, bay window with garden, harbour and sea views, en-suite 3 piece shower room

FIRST FLOOR

Carpeted hallways with laundry room and linen cupboards

BEDROOM 1
Double, river, harbour and sea views, carpet, radiator heating, ceiling rose and coving, gothic window, 3 piece en-suite shower room

BEDROOM 2
Four poster, river, harbour and sea views, radiator heating, carpet, ceiling rose and coving, gothic windows, en-suite 3 piece shower room

BEDROOM 4
King, dual aspect with feature picture window, lounge area overlooking the river, harbour, Rainish Tower and sea, radiator heating, carpet, en-suite 3 piece shower room

BEDROOM 5
Single, sea view plus view towards Countisbury Hill, carpet, radiator heating, ceiling coving, en-suite 3 piece shower room

BEDROOM 6
King, dual aspect, manor ground, sea and river views, carpet, radiator heating, ceiling rose and coving, en-suite 3 piece shower room

BEDROOM 7
Double, dual aspect, village and river views, carpet, radiator heating, en-suite 3 piece shower room

BEDROOM 8
King twin, river and village views, dado rail, carpet, radiator heating, ceiling rose and coving, en suite 3 piece shower room

THE OUTSIDE
The property has 8 parking spaces for the 8 letting bedrooms. As well as a good size tea garden which adjoins the manor ground. Within the gardens are clients have created a decked BBQ area, there are also two outside stores, one for freezer storage the other used as a dry store. Rock House is linked by a small foot bridge which spans the River Lyn. The property gives the idea that it is actually on an island although the location is probably best described as being on a promontory fronting the River Lyn, Rainish Tower and Lynmouth Bay and the sea.

IMPORTANT NOTICE
JD Commercial for themselves, and for the Vendors of this property whose Agents they are, give notice that:
1. The Particulars are set out in general outline only for the guidance of intending purchasers and do not constitute part of an offer or contract. Prospective purchasers should seek their own professional advice.
2. All descriptions, dimensions and areas, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them.
3. No person in the employment of JD Commercial has any authority to make or give any representation or warranty whatever in relation to this property or these particulars nor to enter into any contract relating to the property on behalf of JD Commercial, nor into any contract on behalf of the Vendors.
4. No responsibility can be accepted for any expenses incurred by any intending purchaser

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