£255,000
Pub/bar for saleThe Famous Old Barrel, Princes Street, Exmouth, Devon EX8
About this property
Freehold pub site close to town centre
Known as a live music venue
Ground floor public bar and pool room
Four bedroom flat at first floor with independent access
Vacant possession sale
Priced to reflect the investment required
Detached property with beer garden*
Rare freehold Exmouth pub opportunity
The Famous Old Barrel is a detached freehold public house within a short walk of Exmouth town centre. It is a well known venue, in need of investment.
Location
Exmouth is a popular East Devon coastal town situated at the start of the Jurassic Coast and lying approximately 12 miles South East of Exeter, with a population of approximately 35,000.
The property is located on the corner of the London Hotel Car Park, a surface car park, close to the the town centre on Princes Street.
Accommodation
All areas are approximate and measured in accordance with the RICS Property Measurement (2nd Edition).
Two seperate entrances from the beer garden to open plan public bar and pool room. Long bar servery with stage area to one end. Space for c40 covers. Customer WCs. Store room. Back of bar access to beer cellar leading to store room with rear delivery access.
Internal stair and two external stairs to first floor which provides for lounge, three bedrooms, private kitchen, two bathrooms and a WC. Bedroom 4/2nd lounge through to former kitchen. Former trade kitchen. The first floor may suit as two independent flats, subject to satisfactory planning and fire compliance.
*Adjoining the venue there is a patio beer garden that has been used for many years but is currently on unregistered land. Our client has started the process for possessory title and this will be expedited during the sale process. The site size quoted currently excludes this area.
Planning
Sui Generis pub use.
Rent / Price
The Famous Old Barrel is available freehold with a guide price of £255,000 on a vacant possession basis. Our client's have owned the property, which has been run by tenants, as such there are no historic accounts and the price reflects this and the current building condition. Please note that VAT is payable in addition on 90% of the purchase price. Any offers made must be accompanied with proof of funding.
Business Rates
From the Valuation Office Agency website () we understand that the current Rateable Value is £19,000. There are current concessions on rates payable for hospitality venues and 75% reduction until March 2025 (40% until March 2027). Council tax band B.
Services
We understand that mains electricity, gas, water and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries.
EPC
C(52)
Legal Fees
Each party to be responsible for their own legal fees in relation to this transaction.
VAT
The property is opted to tax and VAT is payable in addition on 90% of the purchase price.
Location
Exmouth is a popular East Devon coastal town situated at the start of the Jurassic Coast and lying approximately 12 miles South East of Exeter, with a population of approximately 35,000.
The property is located on the corner of the London Hotel Car Park, a surface car park, close to the the town centre on Princes Street.
Accommodation
All areas are approximate and measured in accordance with the RICS Property Measurement (2nd Edition).
Two seperate entrances from the beer garden to open plan public bar and pool room. Long bar servery with stage area to one end. Space for c40 covers. Customer WCs. Store room. Back of bar access to beer cellar leading to store room with rear delivery access.
Internal stair and two external stairs to first floor which provides for lounge, three bedrooms, private kitchen, two bathrooms and a WC. Bedroom 4/2nd lounge through to former kitchen. Former trade kitchen. The first floor may suit as two independent flats, subject to satisfactory planning and fire compliance.
*Adjoining the venue there is a patio beer garden that has been used for many years but is currently on unregistered land. Our client has started the process for possessory title and this will be expedited during the sale process. The site size quoted currently excludes this area.
Planning
Sui Generis pub use.
Rent / Price
The Famous Old Barrel is available freehold with a guide price of £255,000 on a vacant possession basis. Our client's have owned the property, which has been run by tenants, as such there are no historic accounts and the price reflects this and the current building condition. Please note that VAT is payable in addition on 90% of the purchase price. Any offers made must be accompanied with proof of funding.
Business Rates
From the Valuation Office Agency website () we understand that the current Rateable Value is £19,000. There are current concessions on rates payable for hospitality venues and 75% reduction until March 2025 (40% until March 2027). Council tax band B.
Services
We understand that mains electricity, gas, water and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries.
EPC
C(52)
Legal Fees
Each party to be responsible for their own legal fees in relation to this transaction.
VAT
The property is opted to tax and VAT is payable in addition on 90% of the purchase price.
.png){kind=logo}