gs

Alex

sellertype

Private

Posted

7 days ago

description

This large beautiful pub is centrally located on the High Street in the holiday town of Ilfracombe, Devon. Complete with ground floor bar and restaurant area, 1st floor function room/seating area, commercial kitchen (fully equipped), and top 2 floors very large owner's accommodation (potential for letting rooms).

*Please note the photos are a representation of the layout etc, however some of the fixtures and fittings and decoration will be different. Viewing recommended.

*We don't charge any premium or legal fees or agent fees. We are the freeholder of this property and do everything in-house. Can move quickly and efficiently. We can be flexible on lease length, etc.

The Little Lamb, 59 High Street, Ilfracombe EX34 9QB

This pub includes:
- Nice trade area
- Restaurant area
- Function Room
- Commercial catering kitchen
- Nice beer garden to rear
- Owner's Accommodation (large)
- Nice Central High Street Location


He's currently operating. This pub is ready to walk into and begin trading in time to benefit from the summer holiday-goers


Rated 4.8 - 5 stars on Google Maps, Trip Advisor, and Facebook.

Rent: £400 per week + VAT
£450 per week +VAT
* Rent payable monthly in advance

Deposit: £4,500 (NO VAT)

Size: ~ 385m2

Available: Now

Business Rates from 1st of April 2023 : £9,100*
*Note: These are not rates payable. Rates are low enough to qualify for full small business rates relief, and therefore you shouldn't have to pay anything.



We can be flexible on lease length. Typically our tenants want a long lease. We are willing to offer a 6 year 11 month lease (this keeps it under the 7 year threshold where you need to register the lease with the land registry and pay stamp duty). Shorter leases offered.

Leases are within the 1954 Act. This means you have the right (not obligation) to a similar lease upon expiry. Therefore you effectively have the option of twice the term length.

We are happy to offer a tenant only break clause after year 2 or year 3. This means if you decide this property wasn't the right decision or if you decide you no longer want it, you can end the lease early (on the break date, with 3 month's notice). If the business is doing well, you can stay for the full term. We cannot decide to break the lease early.

Leases are fully assignable. This means if you build up the business and wish to sell it on at a premium, this would be allowed (to a suitable tenant).

Leases are fully repairing and insuring (FRI). This means all maintenance and repairs will be the tenant's responsibility for the duration of the lease. We insure the building under our large block policy which gives us favourable rates, and then we recharge the annual premium to you (this can be paid in instalments).

No premiums or agent fees or legal fees charged to you. Total ingoings to us are the initial rent deposit and first month's rent. You will obviously also need enough to stock the pub to get it up and trading. This is wholly your responsibility. We have no say in how you run your business. We are simply landlords of the property.

We do not charge you for any of the fixtures and fittings and equipment (in some cases previous tenant's F&F available for purchase via separate negotiation). We will do a photo inventory upon your moving in.

Please give me a call/message to discuss further or if you would like to arrange a viewing.

location

Ilfracombe, Devon