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SIMPLY STUNNING, THRIVING AND HIGHLY PROFITABLE FREEHOLD/’FREE OF TIE’ COASTAL INN & RESTAURANT WITH LETTING BEDROOMS SITUATED WITHIN THE DELIGHTFUL HARBOURSIDE VILLAGE OF SOLVA, ON THE BEAUTIFUL PEMBROKESHIRE COAST

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  • Beautifully positioned within this extremely popular Harbourside Village, close to St David’s.
  • Lounge Bar/Dining Area (circa 40) with solid wood & slate tiled flooring, bar servery and exposed stone.
  • Lovely Restaurant & Snug Dining Room (circa 56) offering carpets, beams and wood panelling.
  • 5 Superb En-Suite Letting Bedrooms.
  • Car Park & Commercial Catering Kitchen.
  • Popular Patio Terrace Area (circa 36).
  • Detached 1 Bedroom Apartment.
  • We are advised turnover for y/e 12/18 is £830,000 (inc vat) with a trade split of 62% food, 24% wet & 14% letting and an impressive recon net profit of over £200,000.
  • Freehold or Lucrative ‘Free of Tie’ Lease with an Option to Purchase if required.
EXTREMELY BUSY AND HIGHLY PROFITABLE HARBOURSIDE VILLAGE INN


ASKING PRICE £1,250,000 FREEHOLD or £125,000 LEASEHOLD TO INCLUDE FIXTURES & FITTINGS, GOODWILL, EXCLUDING S.A.V.

Location

This very busy and extremely popular Harbourside Village Inn & Restaurant with Letting Bedrooms is located within the sought after village of Solva.

Solva is nestled in the Pembrokeshire National Park, a few miles from St David’s, it boasts a bustling quay and a charming High St with craft shops and art galleries. Solva and St David’s are a tourist hotspot within the area and attracts huge numbers throughout the year with its lovely Blue Flag Beaches, sublime walks on the Pembrokeshire National Coast path, spectacular views and a wide range of water based activities including Sailing, Sea Angling and Sea Rowing.

THE PROPERTY

This thriving and highly profitable Grade II Listed Freehold/’Free of Tie’ Harbourside Village Inn with Letting Bedrooms is built of local stone construction, under a slate roof, occupying a prime position within the village.

The Lounge Bar/Dining Area (circa 40) is an inviting area with a mix of solid wood and slate tiled flooring along with a bar servery area, exposed stone walls and doors to the Patio Terrace.

The Restaurant (circa 36) benefits from carpeted flooring, exposed stone walls, beamed ceilings and lovely furnishings.

The Snug Dining Room (circa 20) is a cosy room offering carpeted flooring and wood panelling.

Ladies and Gents W.C.’s + disabled facilities.

There is an excellent equipped Commercial Catering Kitchen with stainless steel appliances and work surfaces (appliances not tested) along with a separate wash up area.

There is a Ground Floor Cellar with python and cooler systems.

OWNERS ACCOMMODATION

Located to the rear of the main building there is a separate newly built one bedroom apartment unit offering a Double Bedroom, Lounge, Kitchen and Bathroom.

LETTING ACCOMMODATION

Located on the First and Second Floors are 5 Lucrative Letting Bedrooms that are all presented to a very high standard and are completely individual. There are 3 Double En-Suite Bedrooms, 1 Twin En-Suite Bedroom and 1 Family En-Suite Room.

EXTERNAL

To the front of the property is a very pleasant Patio Terrace Area for approx. 36 customers offering views down the Main Street and an ideal position to watch the world go by!

Also, to the front there is parking for 6 cars, along with on street parking and a large public car park 200 metres away. In addition there is an amenity/staff car parking area for 4 cars opposite the main building.

TRADING HOURS

We are advised that the business trades with the benefit of the Premises Licence (not seen) which permits the sale of alcohol during the hours of:

7 days per week 11am – 11pm

Current opening hours are:

7 days per week 11am – 11pm

NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the APLH Qualification in readiness for their intended operation of the Public House.

GENERAL REMARKS

The business is offered for sale as a freehold (although we have not had sight of the title deeds) or as a new highly favourable 10 year Private FRI Lease Agreement as follows:

1. The asking premium will be £125,000.

2. The initial rent will be £99,950.

3. The annual rent is simply RPI linked to inflation every 3 years, hence no market rent reviews.

4. Rent payable monthly in advance.

5. Deposit equivalent of 3 month’s rent.

6. Lease assignable after initial 2 year period.

7. Free of all brewery and supply ties.

8. Each party responsible for own legal fees relating to the transaction.

9. We are advised that our vendor client would be agreeable to insert an ‘Option to Purchase’ clause within the lease agreement, to enable the lessee to subsequently purchase the freehold element at a price to be mutually agreed.

We are advised that at the end of the term, the Lease (not seen by Guy Simmonds) should be renewable with no further premium – subject to the provision of the Landlord & Tenant Act 1954. We are advised that the inn benefits from LPG and all other mains services and is heated by gas central heating. (no services seen or tested). Business rates are advised as currently being £20,000 payable.

THE BUSINESS

The current owners purchased the property in 2011 and are offering the business to the market in an extremely healthy position, with high turnover and fantastic profits along with property being in excellent condition throughout.

With the current trading levels a new freehold owner will exceed profits of £200,000 per annum and a new lessee will benefit from profits over £100,000 after paying the rent.

We are advised turnover for y/e 12/18 is £830,000 (inc vat) with a trade split of 24% wet, 62% dry & 14% letting.

Accounting information will be made available to interested parties after viewing.

This business was viewed by Marc Blackford who would be delighted to discuss further details and can be contacted on 07812 753014.

Viewing appointments must be made by contacting Guy Simmonds on 01332-865112.

Details Prepared: July 2019

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