ESTABLISHED (1986) OUTDOOR ACTIVITY CENTRE
HISTORIC MANOR HOUSE NEAR PADSTOW & WADEBRIDGE
ACCOMMODATION FOR UP TO 64 GUESTS / 9 BEDROOMS
4 BEDROOM OWNERS ACCOMMODATION
GUESTS KITCHEN / DINING / TRAINING AND LOUNGE
INVENTORY / ASSET LIST C. £193k VALUE
HIGH LEVELS OF REPEAT CUSTOM
CONSISTENT SALES, EBITDA £152,000
BUSINESS SALE ONLY / PROPERTY RENTAL / PURCHASE OPTION
The business base is in St Issey, a pretty village, approximately 4 miles to Padstow and 4.4 miles to Wadebridge, making this an ideal base to explore North Cornwall and have amenities within a good size town. The business trade areas extend to the far West of Cornwall and the North and South Coasts.
The Manor House and Mill House (owners accommodation) is a Georgian semi detached property arranged over three floors with the owners accommodation attached on one side and enjoying much privacy from the main house.
The property has many character features indicative of the period and has been tastefully updated and improved during our clients tenure to maintain the fabric and integrity of the building as both a business and a home. We are advised the the roof to main part of the house was replaced in March 2019.
We understand a business activity of this type has traded on the site since 1986 and has been in our clients tenure since 2002, who are now looking to sell to explore other business / life opportunities away from this sector. The business introduced the residential instructor training programme in 2009 and in terms of the client split is approximately 50% from Independent Schools (which have very high levels of repeat custom); 30% Residential Instructor Programme ( 4 month courses in off season, average 16 to 20 students pa); 15% Youth Groups and ; 5 % Other.
The business is run by our clients, with up to 10 members of staff, including seasonal and freelance and trades all year, with the Manor House (guest accommodation) being given over entirely as a ‘single let’ for weekly self-catering holiday lets during the month of August, to suit our clients needs.
The business is to be sold by way of an Asset Sale.
In terms of the trade we can advise the Trading Profit and Loss Account show net sales (for the latest year end June 2018) of £460,032 with a Gross Profit Level of 86% and an EBITDA of £152,252. A 3 year average show average sales of c. £400,000 per annum and an EBITDA of c.£120,000, further accounting information will be made to interested parties and their advisers subsequent a viewing / meeting, in the normal manner.
For further information regarding our clients business please see their website www.manoractivitycentre.co.uk
We are pleased to offer the business for sale with a 2 year Purchase Option (from date of agreement to be exercised with 6 months notice). This would allow a buyer to purchase the business including the goodwill / intellectual property and all the trade fixture and fittings, at a cost of £400,000, with an interim operating rental of £25,000 pa. The purchaser can either choose to exercise the option and proceed to purchase the Manor House or at this point relocate the business.
This does not preclude an outright sale for the property / business should a party wish to do so. This is being offered as an option for those who may want to buy the business in the first instance and continue to purchase the property after a 2 year period.
The Accommodation Comprises
(all areas and dimensions are approximate)
N.B Floor Plan of the Manor House and our clients’ property The Mill is available upon request.
Principally accessed from the side of the property, entrance into the Boot Room.
Charming introduction to the property with a slate floor, door to the front and racks for coats and boots etc, security locker for residents’ possessions. Through to:-
A large room with ample space for food preparation/cooking and dining. With an Aga, comprising 1 cooking and 1 warming oven, 2 hotplates and a matching central heating boiler unit, 4 ring electric hob, with extraction over, double oven, complimentary range of base and wall units, stainless steel wash up, radiator.
Large farmhouse table with seating for up to 28 covers, 3 windows to 2 sides.
Well equipped commercial kitchen with principal equipment to include a 6 ring ‘Buffalo’ gas cooker, with double oven below (plus extraction system over) advised installed in October 2018, stainless steel work benches, stone floor, window to rear elevation. Dishwasher, 2 upright fridge/freezers and 1 fridge.
From Commercial Kitchen / Galley:-
Window and door to rear elevation, 2 telephone lines, advised fibre installed, space for desks etc, CCTV
With shower room (low level wc and pedestal wash hand basin), radiator.
Second passageway through to front door.
Dining Room/training Room
An impressive room with 2 multi-pane windows to the front elevation (advised installed in April 2019), table and chairs for circa 34 covers, feature fireplace, radiator. Built-in storage cupboards to one wall. Overhead projector and screen for training purposes.
A very charming room with 2 windows to the front elevation (windows replaced in April 2019), a working fireplace, with marble surround, attractive feature cornicing, radiator.
Schedule Of Letting Accommodation
3 bunk beds, 2 windows to the rear elevation.
Advised completed in March 2017. Comprising bath, pedestal wash hand basin, low level wc and radiator. 2 windows to rear elevation. Drying cupboard (with radiator).
Turning staircase and at half landing large window with views to the rear elevation.
Typically set up for 5 or 6 bunk beds, window to the front elevation, shower room, with shower, low level wc and pedestal wash hand basin.
Twin room, window to front elevation.
5 bunk beds, 2 windows to front elevation, cupboard and vanity unit.
On landing Laundry cupboard.
4/5 bunks, 2 windows to the side elevations, shower with low level wc and pedestal wash hand basin.
Stairs ascending to the first floor, with a shower/wet room and also further continuing to ground floor.
3 bunk beds, 1 Captains bed and 5 single beds, 2 Velux windows, exposed ceiling timbers.
Twin, window to rear elevation. On the upper landing separate wc and shower room.
4 single beds (quad), Velux window to side elevation, exposed ceiling timbers. Built-in wardrobe.
Twin, Velux window, exposed ceiling timbers.
Accessed either through the office or via an external door from the side entrance into:-
Door to side elevation, radiator.
With storage cupboard.
First Floor Landing
Radiator, window to side elevation, storage cupboard.
Double/bunk, radiator, window to rear.
Single, window to side elevation, radiator, shower room,
Double with vanity unit, coupled low level wc, window to side elevation, radiator and storage cupboard housing water tank.
Stairs to second floor.
On the second floor landing space utilised as a dressing area.
Double, window to side elevation, radiator, exposed ceiling beams.
Double, Velux window to the rear with far reaching country views, radiator, exposed ceiling beams.
To the front is an area used for storage of trailers etc and a ‘barn measuring approx 4.5m x 9m, containing a large drying room (for wetsuits etc) and general store, with power and light connected at a double height.
To the rear of the property is the garden, barbecue and decking and patio area, complete with a hot tub. There is also the facility for boat storage and access to the road frontage and a garden shed.
General Enquiries 0300-1234-100
Energy Performance Certificate
Inventory / Asset List
A detailed copy of the Assets is available upon request and we are advised has a value of c. £193,000.
Whilst our clients wish to sell the property and business together, they would consider offers for the business separately to include the goodwill, trade inventory, intellectual property rights and a handover/training period if required. For further information please contact the selling agent.
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
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.