LANDMARK NORTH CORNISH FREEHOUSE/ACCOMMODATION
COMPREHENSIVELY REFURBISHED AND WELL PRESENTED
EXCESS 200 COVERS, 12 LETTING ROOMS
TWO FLATS (OWNERS AND LETTING)
EPC’S: INN D81; FLATS: E46 & D60
DEDICATED 20 SPACES IN CAR PARK
CONSISTENT TURNOVER CIRCA £1,500,000 (EBITDA c £440K PA)
GENUINE RETIREMENT SALE
King Arthur’s Arms is located adjacent to the principal car park within the North Cornish coastal village of Tintagel. The adjoining car park is the car park of choice for those visiting Tintagel to enjoy King Arthur’s Castle, the beach, the ancient headland Church or Old Post Office immediately opposite together with the eating and shopping facilities of Tintagel. Within Tintagel there is a modern Visitors Centre, Doctors Surgery, Church and modern Library.
In all directions from Tintagel there is scenery of outstanding natural beauty. In both directions the North Cornish coast offers breathtaking National Trust cliff scenery linking to popular family beaches such as Trebarwith and quaint former fishing villages such as Boscastle. To the south Bodmin Moor provides wild open spaces ideal for walking and riding. To the west is the much loved scenery of the River Camel with culinary hotspots of Rock and Padstow at its mouth.
We understand the substantial detached freehouse dates back to the 14th Century, with a more recent extension to the rear, which was a former Amusement Arcade and was converted into guest letting accommodation in the past circa 5 years. The property is adjacent to the principal coach and car park in Tintagel, the majority of which is to be retained by the clients, but will include an area of 20 spaces dedicated to the sale of the King Arthur’s Arms.
Throughout, the business is particularly well equipped and fitted in terms of bar, kitchen, preparation, storage and cold storage capabilities. The same is true of the bedrooms which have many cutting edge fittings and finishes within the rooms and the superb adjoining en-suites.
King Arthur’s Arms has been in the same family since 1914, with the current owner having been born at the premises and is now looking for a retirement sale. The business has four income streams, wet (39%), food (43%), bed and breakfast (17%) and ancillary (1%), which is relatively consistent throughout the last 3 to 4 trading years.
The King Arthur’s Arms is a very good business, with a 3 year average net turnover in the region of £1,500,000, with an operating gross profit level of circa 70% and an adjusted average 3 year net profit in the region of circa £437,000. It is envisaged with the opening of the new foot bridge (August 2019) linking the mainland to the Castle opens this will give a significant boost to the tourism sector and businesses within Tintagel.
Further accounting information will of course be made available to interested parties subject to a viewing appointment in the normal manner.
Further information regarding our client’s business can be seen by our client’s website www.kingarthursarms.co.uk
The Accommodation Comprises
(all areas and dimensions are approximate)
Covered benching and tables seating 42 with bar. Bay window and beamed ceiling. Half glazed door to covered terrace and side windows. Coffee machine mounted on polished granite bar.
Well positioned with external rear access including coolers, air condition units, ice machines and appropriate pumps and connection piping. Importantly the cellar has level access to the bar area.
Exposed beam ceiling, stone open fireplace with log burner and wall lights. Some 10m run of bar with 8 real ale hand pumps and 20 automatic pumps offering a wide range of ales, lagers and soft drinks. Superb full length granite surface to bar area, 13 bar stool places and seating for 40. Wash up area with stainless steel sink and glass wash, 5 soft drink chiller cabinets, 3 tills, Rentokil fly squat, wall mounted hand wash soap and towel dispenser. 2 gaming machines, card ATM cash machines, juke box, pool table, wall mounted T.V., overhead projector and drop down screen, 3 integrated tills.
Open plan off main bar with seating for 46.
Fixed slate tables and timber benches seating 40 with paved flooring.
Canopy paved terrace area situated to one side of the pub with access from the adjoining car park seating 48 at fixed slate tables and timber benches. Heavy duty canopy with adjustable see through side awnings.
Large well equipped work area with range of stainless steel work surfaces, cooking appliances, extraction canopies and hand wash station. Gas hob, grill, deep fat fryers, steam oven, freezers, fridges, waste disposal unit and 7 microwaves.
Further stainless steel work surfaces with integrated fridge, freestanding fridge, walk in freezer, 2 microwaves and hand wash station.
Dry Storage Area
Regular shaped with tiled floor, large skylight, full length shelving and generous freestanding stainless steel work surfaces. Potato rumbler.
Cold Store/freezer Room
Walk in fridge, walk in freezer, central heating boiler and hot water cylinder. Cardboard compactor.
Industrial and domestic washing machines, gas fired tumble dryer, sink, linen racking and tiled floor.
Appropriately racked for alcohol storage and inner office off.
First Floor Managers Flat
Kitchen, living room, two bedrooms and bathroom.
Sharing Access Lobby
First floor office providing two workstations.
Ground Floor Staff Flat
Kitchen/Living room, bedroom and shower.
Please note: Security and fire alarms linked to bar and both sets of employee accommodation.
Bedrooms (all M3a)
3-6 all have external entrances and are superbly equipped, sizable ground floor letting units discerningly finished to cater for those with impaired mobility. Four of the rooms are M3a graded by Enjoy England capable of catering for three people plus cots if desired. the beds are electrically adjustable, the rooms incorporate 5ft turning circles beside the beds for wheelchair users and the furniture has been designed for wheelchair users. Flame effect fan, electric wall mounted fire, two televisions, touch sensitive side lights. Heating is by night storage heaters. Fitted wardrobes with safe. House keeping lockable cupboard.
Superb wheelchair friendly large wet rooms with high level W.C., ladder, towel rail and excellent remote control shower area. there is a pull-cord assist linked to the bar, wheelchair friendly wash hand basin, mirror and hand rails with vanity down-lighters.
Bedroom 1 (m1) (external Entrance)
Has a double bedroom and a single bedroom and superb shower room.
Bedroom 2 (m3a) (external Entrance)
Double bedroom with generous en-suite shower.
Rear Entrance And Stairs To:-
Communal first floor flat serving bedrooms 8 to 12.
Separate staircase and rear entrance. A first floor suite of 2 twin/1 double bedroom/sitting rooms, communal lounge and shower room. Sleeps six plus cots if required. Built-in housekeeping wash-up cupboard and linen cupboards.
A family room with a double bed and two singles with generous en-suite with full width shower.
Is a double bedroom, well fitted and the only room not to have an en-suite shower room. The separate shower room is fitted to the same high standard.
A double and a single beds with frontage windows. Large en-suite shower room off with a full width shower.
A small double room but nevertheless well fitted with en-suite shower room off.
A superb double room with entrance lobby and large en-suite shower room off.
With underground LPG gas tank, bulk oil tank, bulk red diesel tank and free standing trailer generator capable of powering pub in the event of electricity cut.
Static Caravan – “the Rio”
Two bedroom modern static caravan with gas heating, lounge, kitchen and showers. Not apart of guest accommodation, used for staff only.
A dedicated delineated space of 20 car parking spaces is to be sold with the business and we are advised that there will be no on-going repair liability over the right of way to said parking spaces.
General Enquiries 0300-1234-100
Energy Performance Certificates
The Energy Performance Ratings are as follows:-
Public House; D81
Top-floor flat: E46
Top-floor flat: D60
Copy of floor plan available upon request.
An Inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied by Miller Commercial prior to exchange of Contracts.
We understand the business currently holds a premises licence in respect the sale of liquor for consumption on and off the premises.
We refer you to the government website https://www.tax.service.gov.uk/view-my-valuation/search
Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: 0845 601 2989
South West Water: 0800 169 1144
Transco: 0800 111 999
To be taken at valuation.
Value Added Tax
All the above prices/rentals are quoted exclusive of VAT, where applicable.
If you require advice regarding the Financing of a Business, at no initial cost, please contact us on the number below.
For further information or an appointment to view please contact:-
Graham Timmins on 01872 247019 or via email email@example.com
PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate.
AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.
Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39.
VIEWING: Strictly by prior appointment through Miller Commercial.