PERIOD FREEHOUSE IN EAST CORNWALL
6 LETTING ROOMS (5 LET)
2 OWNERS FLATS
LARGE CAR PARK , REAR TERRACES
NET T/0 £224K, GP 61.4%, EBITDA £92K PA
GENUINE RETIREMENT SALE
The Cornish Inn has a prominent location in the pretty village of Gunnislake, in East Cornwall, close to the border of Devon. The Tamar Valley is an Area of Outstanding Natural Beauty, making this a popular location for visitors and indeed in which to live. The nearby town of Tavistock has a number of period properties and shops and closer is Callington and Liskeard for day to day needs.
The three storey property dates back to 1830 we are advised and was built as a Coaching Inn, which has been extended over the years. The property is attached (on the far right hand side as one looks at the property) and comprises a well presented Bar / Dining area, Games Room and Breakfast room for guests. On the first floor are 3 letting rooms and 2 owners flats (1 bedroom and 2 bedroom) and on the second floor a further 3 letting rooms (one not used at present).
To the front and rear is parking, smoking area, terrace and lawn area.
We understand the premises has been a Public House for approaching 200 years , has been in our clients tenure for 15 years, who are now looking to sell due to retirement. The Trading Profit and Loss Accounts for the year end February 2020 show net sales of £224k, with a trade split of wet 71%/dry 9%/accommodation 9%/other 11%. The Gross Profit level is 61.4% and the EBITDA is £91,861. Further Accounting information will be made available in the normal manner.
The clients do not have a website but have a Facebook account.
The Accommodation Comprises (all Areas And Dimensions Approximate)
Main Bar / Dining : 10.45m x 6.55m, with bay window to the front, working open fireplace and hearth. Wooden bar servery with 10 pumps. From Bar area through to Ladies and Gents WC’s.
Games Area : 6.06m x 4.85m, bay window to the front, door to kitchen and stairs to First Floor.
Dining Room : 5.55m x 4.64m (Max.), window and door to front giving separate access, tables and chairs for 20 covers.
Kitchen : 4.17m x 3.79m, commercial flooring, tile walls, 8 ring Blue Seal Gas Cooker and Double Oven, stainless steel work benches and double fryer, hot plate etc. Through to wash up area with deep double sink, glasswasher.
Dry store / Staff area : 8.31m x 3.66m (max. X 2.23m (min.), 2 upright freezers and 1 chest freezer, wooden racking fro dry and tinned goods.
Rear Utility Area, door to rear, washing machine and tumble dryer.
Stairs to First Floor Accommodation
Flat 1 : Large Lounge; Double Bedroom with ensuite bath / shower and further room off the hallway used as an office.
Flat 2 : Kitchen / diner; 2 Double bedroom with windows to the rear; Bathroom (bath with shower over).
Bedroom 1 : Double, ensuite bath / shower. Window to rear.
Bedroom 2 : Double, ensuite bath / shower. Window to front.
Bedroom 3 : Twin, ensuite bath / shower. Window to side.
Bedroom 4 : Twin, ensuite bath / shower, with exposed ceiling beams and a seating area. Window to front.
Bedroom 5 : Double, not used for letting. Window to front.
Bedroom 6 : Family, ensuite shower, with exposed ceiling beams. Window to front.
Parking : 6 at front and 12 at rear.
Garage : Double car, power and light, electric roller door.
Trade Garden : Covered smoking area, terraced patio with 6 trestle tables.
Store / Bin / Garden waste area.
Premises Licence 00270PL14P for the sale of Alcohol.
General Enquiries 0300-1234-100
Freehold Title CL169414. Advised no Restrictive Covenants. Vehicular and pedestrian Right of Way over side road leading to rear.
Energy Performance Certificate
The Energy Performance Rating for this property is C72.
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.
Valuation Office Agency Listing April 2017 shows Rateable Value of £8750, below the RV at which Business Rates are payable.
Advised by clients :-
Single Phase Electricity
Mains Gas (Central Heating)
At Valuation on Completion to be agreed between Seller and Buyer.
Value Added Tax
We understand the Business is Registered for VAT.
If you require advice regarding the Financing of a Business, at no initial cost, please contact us on the numbers below.
For further information or an appointment to view please contact either:-
Graham Timmins on 01872 247019 or via email firstname.lastname@example.org or
Paul Collins on 01872 247029 or via email email@example.com
VIEWING: Strictly by prior appointment through Miller Commercial.
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] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [c] 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.