£545,000
(£545,000.00/sq. ft)
Restaurant for saleSouth Molton EX36
1 sq. ft
Business
About this property
Market town square position
Main bar (35) & back bar (25)
Function room (25) & separate skittle alley
Four en suite letting rooms & owner’s accommodation
Historic planning for 5 dwellings or 11 en suite letting rooms
Trade patio (70+) & car park (15)
Established business with scope for food & letting income
Location
Situated in the centre of the North Devon market town of South Molton. The town is located on the southern boundary of Exmoor National Park; it has a traditional town square and is home to numerous businesses. South Molton has a population of approximately 5,100 and is close to the A361 North Devon link road which provides fast road communications between the M5 motorway and the North Devon coast.
The town has a thriving centre and attracts visitors exploring Exmoor National Park and the scenic North Devon coastline. It is also the home of a twice weekly market at which more than 70 stallholders sell a wide range of locally produced products.
Planning
The Town Arms Hotel has been granted numerous planning applications over the years, one of which allows for the conversion of the stable block into 11 en suite letting bedrooms (application 59646 on the North Devon planning website), whilst another permits its conversion to form five dwellings(application 44978).
Opportunity
The Town Arms Hotel has been under our client’s occupation for over 20 years and operates as a traditional, town centre, wet sales public house which benefits from regular local trade all year round. The business is open every day from 11:00-23:00 and has very low staff overheads. Our client now wishes to sell due to ill health and in order to retire.
The business does not currently offer food so there is potential to reintroduce a food menu. The letting rooms are also not currently utilised so there are two potential income streams awaiting a new operator which could be used to increase the business’s level of turnover and profitability. A developer may also wish to explore the possibility of either redeveloping the rear stable block to create letting accommodation or residential properties.
More information or viewing
Further accounting information may be made available to serious parties following a formal viewing.
No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.
Agents - Sidney Phillips
Tel: Email:
Main bar (35) & back bar (25)
Function room (25) & separate skittle alley
Four en suite letting rooms & owner’s accommodation
Historic planning for 5 dwellings or 11 en suite letting rooms
Trade patio (70+) & car park (15)
Established business with scope for food & letting income
Location
Situated in the centre of the North Devon market town of South Molton. The town is located on the southern boundary of Exmoor National Park; it has a traditional town square and is home to numerous businesses. South Molton has a population of approximately 5,100 and is close to the A361 North Devon link road which provides fast road communications between the M5 motorway and the North Devon coast.
The town has a thriving centre and attracts visitors exploring Exmoor National Park and the scenic North Devon coastline. It is also the home of a twice weekly market at which more than 70 stallholders sell a wide range of locally produced products.
Planning
The Town Arms Hotel has been granted numerous planning applications over the years, one of which allows for the conversion of the stable block into 11 en suite letting bedrooms (application 59646 on the North Devon planning website), whilst another permits its conversion to form five dwellings(application 44978).
Opportunity
The Town Arms Hotel has been under our client’s occupation for over 20 years and operates as a traditional, town centre, wet sales public house which benefits from regular local trade all year round. The business is open every day from 11:00-23:00 and has very low staff overheads. Our client now wishes to sell due to ill health and in order to retire.
The business does not currently offer food so there is potential to reintroduce a food menu. The letting rooms are also not currently utilised so there are two potential income streams awaiting a new operator which could be used to increase the business’s level of turnover and profitability. A developer may also wish to explore the possibility of either redeveloping the rear stable block to create letting accommodation or residential properties.
More information or viewing
Further accounting information may be made available to serious parties following a formal viewing.
No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.
Agents - Sidney Phillips
Tel: Email:
.png){kind=logo}