THE PROPERTY
The Stables is an extremely well-presented, substantial, free-of-tie destination pub and restaurant which occupies a prominent landmark trading position on the outskirts of Exeter. This impressive, detached character property is located adjacent to the busy A377 main road and trades as a busy food-led pub and restaurant, run under full management. This exceptionally well-appointed and well-regarded freehouse was completely refurbished around 9 years ago, enhancing its attractive character features and it comes fully equipped with an extensive inventory of high-quality trade fixtures and fittings. The business briefly comprises: attractive and impressive interconnected open-plan Bar & Dining Areas with character features and comfortably seating 100+ customers; an overflow restaurant or function room comfortably seating 40+ customers, an extremely well-equipped modern Commercial Catering Kitchen with extensive backup and ancillary facilities; an office; a well-presented Self-Contained owner's or manager's apartment with a sitting room; a double bedroom; a fully fitted Kitchen with integrated appliances; and a Bathroom. Externally, the pub occupies a large site which incorporates extensive Customer Car Parking for 60+ vehicles, lanted and Patio Trade Gardens for 88+ customers, and useful outbuildings and stores.
SITUATION
The Stables occupies a prominent and landmark trading position alongside the busy A377 Exeter to Crediton main road, one of the major arterial routes into Exeter City Centre. Exeter is the regional capital of the South West and, as such, is not only an established and expanding business center but also a popular tourist destination year-round. One of the most vibrant and attractive cities in the South West, Exeter is renowned for its historic cathedral, university and waterside developments and boasts excellent transport communications with two mainline rail links to London, an international airport and easy access to the M5 motorway.
INTERNAL DETAILS
Main customer entrance doors to front and rear leading from car parks into Main Bar & Dining Areas are an extensive and attractive character space comprising interlinked seating and dining areas with part carpeted and part stripped wood flooring, exposed painted wall and ceiling timbers, part exposed walls, feature open fireplace, feature lighting, wall mounted menu boards, extensive range of free-standing wooden tables, upholstered chairs and feature banquette seating areas comfortably seating up to 104 customers plus standing room. The trade areas are serviced by a substantial timber-fronted and polished timber-topped Bar Servery fitted with associated back bar fittings and extensive display shelving with non-slip flooring, two EPOS touch-screen cash registers with printer link to the kitchen, commercial coffee machine, coffee grinder, four double glass-fronted bottle fridges, and a stainless-steel sink unit. Still Room with non-slip flooring, fully wipe-clean clad walls, ice machine, commercial glass washer and a stainless-steel deep bowl sink unit. Customer WC's. Overflow Restaurant/Function Room is an attractive multipurpose room with doors to the rear patio area, wood effect flooring, vaulted ceiling with exposed timbers, exposed wall timbers, feature lighting, EPOS touch-screen waitress station with printer link to the kitchen, range of freestanding wooden tables, upholstered chairs and feature banquette seating, comfortably for 40+ customers. Commercial Catering Kitchen with part stainless steel and part wipe-clean clad walls and being equipped to an extremely high standard with a comprehensive range of commercial catering equipment to include: extractor system with stainless steel canopy over and gas interlock system, 6 burner gas range, chargrill, two twin floor standing deep fat fryers, Rational combi oven, three commercial microwaves, warming cabinet, serving gantry with warming lamps, two 3 door under counter commercial fridge units, stainless steel work benches, 2 door under counter commercial fridge unit, oven, saladette, twin deep bowl stainless steel sink unit, stainless steel hand basin. Dry Goods Store has non-slip flooring, fully lined walls, racked shelving, a walk-in Fridge and a walk-in Freezer. Wash-up Area with non-slip flooring, fully lined walls, extensive stainless steel racked shelving, stainless steel deep bowl sink unit, commercial pass-through dishwasher with tray slide, stainless steel work benches, 2 chest freezers, and an under-counter fridge. Laundry room with washing machine and tumble dryer. Staff WC. Office.
OWNER'S/MANAGER'S ACCOMMODATION
There is a self-contained apartment which is well presented and briefly comprises:. kitchen/Dining room is fitted with a range of modern base and wall-mounted kitchen units with complementary worksurfaces and a range of built-in appliances, including an oven, hob and extraction unit. Bedroom is a double-sized room. Bathroom with a shower over the bath.
EXTERNAL DETAILS
The Stables occupies a large plot with prominent main road frontage along the A377 main road. The property benefits from extensive Customer Car parking Areas with marked spaces for 60+ vehicles. The grounds also incorporate Beer Gardens with patio terrace and lawned seating areas, providing alfresco seating for 88+ customers. Owner's private lawn Garden Area. The Cellar temperature controlled. Bottle Store. Bin Store Area.
THE BUSINESS
The Stables is an extremely popular destination pub and restaurant which is extremely well presented throughout with an impressive, high-quality trade inventory. It offers exceptional and extensive customer trade areas and is a well-known landmark freehouse on the outskirts of Exeter. The Stables is run under full management and is a family-friendly pub catering for large numbers of both passing and local trade. The business is run as a traditional pub/restaurant and is open all day. The business benefits from a 5-star Star Food Hygiene rating and has its own website, which provides further information on the business. Described by our clients as a modern independent freehouse with a vintage twist, this is an extremely well-presented business, having been the subject of modernisation and a complete refurbishment around 9 years ago. The Stables benefits from impressive levels of year-round trade and the sale represents an exceptional opportunity to purchase a well-regarded and well-supported free-of-charge food-led pub and restaurant. With a prominent and landmark self-advertising main road trading position, the pub is located in a sought-after area yet close to the centre of Exeter. The Stables is undoubtedly a very special place in which to live and work and a viewing is essential in order to fully appreciate all that this high-spec freehouse has to offer.
TRADING INFORMATION
Accounts for the year ending March 31, 2023, show sales of £684,687 net of VAT and a gross profit of 67% being achieved. Full accounting information can be provided to interested parties following a formal viewing appointment. We are advised that the current split of trade is approximately 70% food sales and 30% wet sales.
CURRENT STAFFING
The pub is run under full management, with a full complement of 15 staff members being permanently employed. Our clients are not involved in the day-to-day running of the business.
POTENTIAL
The current owners advise that there is potential to develop all aspects of the trade further and build on the impressive trade levels already being achieved.
TRANSFER OF A GOING CONCERN
The sale of the property includes the goodwill of the business and trade inventory and will be subject to Transfer of Undertakings (Protection of Employment) regulations (TUPE).
LEASE
The Stables is held on the remainder of a 20-year free-of-tie lease, which commenced on January 24, 2014, on full repair and insurance terms. The rent is £68,906 plus VAT per annum and rent is paid monthly in advance.
