Fantastic Freehold Public House & Restaurant located in Pennal. Stunning grade II listed, three storey property which has the potential for 8 ensuite bedrooms to the upper floors with some investment. Just a 10 minute drive from Aberdovey. Turnover £456,191 pa.
Veritas Business Sales are delighted to offer for sale this respected Public House & Restaurant which is located in the village of Pennal. The property is grade II listed and dates back to the 16th century. The business has been in the careful hands of the current owners for the past 12 years and is now being offered for sale so that they can enjoy a well deserved retirement.
Since ownership their has been continually investment to the ground floor to include 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 Riverside is owner operated by a husband & wife team along with the help of 2 full time and 10 part time members of staff and has an impressive annual turnover of £450,000. They serve a fine range of homemade hearty pub grub which equates to approximately 60% of the annual turnover and a selection of premium lagers, guest ales, wines, spirits and soft drinks which equates to the remaining 40%. All fayre is freshly prepared and cooked to order on site using only the finest locally sourced produce. This unopposed gastro pub is where the locals would host their various celebrations such as birthdays, christening and weddings.
We believe that with some investment on the upper floors this would lend itself to being a thriving hotel. 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 business with further potential which is a great base to build upon and as such early viewing is highly recommended as this gem is not to be missed.