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Leasehold Pub Restaurant In Falmouth Marina For Lease

Falmouth, Cornwall
Asking Price:
£149,950 Furniture / Fixtures included
Turnover:
£624,514
Net Profit:
£140,000

Veritas Business Sales are delighted to offer this rare opportunity to purchase a thriving and growing business for sale due to owners’ retirement. Our clients have heavily invested in the business during their tenure and any purchaser would benefit from the high-quality fixtures, fittings and equipment. The wet to dry split averages at 60 : 40 across the year, with dry sales significantly boosted during school holiday periods as our clients have established a family friendly reputation. Furthermore, the business is in a prime location for high footfall in addition to the very attractive views available from the dining room. The venue benefits from consistently high trade year-round with a loyal local base and university students boosting trade through the winter months. This business offers opportunities to grow in the future with potential for the building to be developed to incorporate a sun terrace (subject to planning) as well as the council’s current plans to convert the car park at the rear of the pub into a public space for events and recreation.

Property information

Property:

Leasehold

Lease Terms:

Original term: 10 years
Remaining: 5 years ( New lease just signed)
Rent: £43,000 pa plus VAT
Rates: £16,000 pa
Free of tie ale, wines, minerals &

Leasehold Rent:

£43,000 per annum

Living Accommodation:

Owners’ Accommodation
The owners’ accommodation is arranged over the first and second floors benefitting from private access. Comprising of large lounge, galley kitchen with access to a roof terrace, two double bedrooms, one of which is currently utilised as an office.
 

Location:

This successful business is located in the centre of the vibrant harbour, beach and university town of Falmouth, on Cornwall’s south coast. The property enjoys unrivalled views of the vast harbour, Pendennis castle and the river Fal estuary. With a resident population of 27,000 Falmouth is one of Cornwall’s premier locations for tourists, students and locals and it was recently named by the Sunday Times as the ‘best place to live’ in the south west of the UK. Falmouth enjoys an unusually long tourist ‘season’ owing to the town’s investment in highly popular festivals running in the late spring and autumn such as the International Sea Shanty and Oyster festivals.

Premises Details:

Ground Floor

Main Bar
With a mix of wood, newly carpeted and tiled floors with a 27’ mahogany bar and attractive beamed ceiling. Seating for approximately 115 covers, many benefitting from the outstanding water views the property boasts.

First Floor

Trade kitchen
Fully equipped with commercial appliances and non-slip altro flooring throughout.
Prep Room. Preparation counters. Freezers and hand cut chip machine.
Dry Store. Providing further storage and freezer areas.
 
Owners’ Accommodation
The owners’ accommodation is arranged over the first and second floors benefitting from private access. Comprising of large lounge, galley kitchen with access to a roof terrace, two double bedrooms, one of which is currently utilised as an office.
 
Lower Ground Floor

Ladies and Gents Toilets. Cleaner’s and glass storage area plus extensive caged secure storage area.
 
Cellar
Very large temperature controlled cellar comprising of four rooms including recently fully replaced beer dispense equipment and large real ale two tier racking auto-tilt system.

Energy Performance Rating:
C

Business Operation

Reasons for selling:

Retirement

Trading hours:

Monday – Wednesday – 11.00am – 11.00pm
Thurs – Sat – 11.00am – 1.00am
Sun – 11.30am – 11.00pm

Employees:
3 full time & 7 part time
Years established:
200 years

Other Information

Inventory / Stock value:
£7,500

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