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Hotel for sale
Cafe Bar & Restaurant, Lynmouth Street
In probably the most visible and prime tourist trading location in North Devon this property stands at the beginning of Lynmouth Street overlooking the East Lyn River in Lynmouth, a popular tourist destination.
The village, together with its neighbouring town of Lynton, is often referred to as the Little Switzerland of England being surrounded by deep sided wooded river valleys that sweep down to the sea at Lynmouth Harbour. The property overlooks the Lyn River and is highly visible upon the approach into the village.
The premises consist of a substantial detached property set back from the main road and river with the ground floor taken up entirely by the large 40 seater licensed restaurant/cafe bar together with the main reception for the Hotel and well equipped commercial Kitchen. The property was completely refurbished and upgraded in 2008 and now provides modern hotel accommodation with 5 luxuriously appointed en-suite bedrooms all well equipped and fitted with modern furniture throughout. The property also has the benefit of valuable private parking for 5 cars, a garage and store and spacious outside seating with 10 picnic tables overlooking the Lyn River.
The property has the ability to derive income through the restaurant/cafe bar on the ground floor which has double aspect windows overlooking the village and the river. In addition there is potential to achieve income from the Bed & Breakfast accommodation with 5 luxury en-suite bedrooms.
Planning consent was granted on the 12th January 2007 ref 62/41/06/044 for alterations and extensions including the raising of the rear gable on the rear first floor extension as well as alterations to the windows. At that time the property was completely refurbished and redesigned. On the 20th February 2008 further consents granted under reference 62/41/07/041 for a 2 storey extension that will allow for the enlargement of the hotel to a 10 bedroom hotel. Therefore there is huge potential to redevelop the accommodation further.
We understand that the property benefits from a premises licence under the licensing act 2003 licence number PLWA0327.
Recently the business has not operated due to our clients business commitments in the North West of England and therefore we are unable to supply up to date accounts on the business. However, we can report that the restaurant and Bed & Breakfast establishment has traded for many years as a thriving catering business, within the resort of Lynmouth, and due to its prime trading position the business has the potential to earn high profits. A discerning purchaser will soon realise that such an opportunity rarely becomes available and we strongly recommend viewing to avoid disappointment.
The accommodation briefly comprises:
MAIN HOTEL RECEPTION 12'9" x 13'2" (3.89m x 4.01m). With reception area and access to
RESTAURANT/CAFE BAR 24'6" x 52' max (7.47m x 15.85m max). Seating for approximately 40 covers with central fireplace with small log stove (not connected). Electric panel radiator.
LADIES AND GENTS CLOAKROOMS
KITCHEN 19'2" x 20' (5.84m x 6.1m). Comprehensively equipped throughout to include trade inventory (excluding those items of a personal nature).
PREPARATION/WASHING UP ROOM 8'10" x 20' (2.7m x 6.1m).
MAIN RESTAURANT Refurbished in 2008 and benefiting from its own private access on to the part covered patio area.
OUTSIDE Picnic tables, 10 in total, overlooking the riverside. Vehicular access to the rear of the building where there is parking for 5 cars, garage and store.
LETTING ACCOMMODATION The letting accommodation is approached from a separate recessed covered area.
BEDROOM 1 (Double) With corner aspect and views to the sea and river and adjacent
TWIN ROOM and
BATHROOM With panelled bath with shower over, wc and wash hand basin.
BEDROOM 2 (Double) With river views and
EN SUITE BATHROOM/WC With panelled bath and shower over, wc and wash hand basin.
BEDROOM 3 (Double) With river views and
ENSUITE BATHROOM With panelled bath and shower over, wc and wash hand basin.
STAIRS TO SECOND FLOOR
BEDROOM 4 (Double) With sea view and
EN SUITE BATHROOM With separate raised shower with glazed door, wc and wash hand basin.
BEDROOM 5 (Double) With roof light and
EN SUITE BATHROOM With panelled bath with shower over, wc and wash hand basin.
SERVICES Mains electricity and drainage with electric panel radiators fitted to the bedrooms with bedrooms 4 and 5 having air conditioning units as well as panel heaters.
RATEABLE VALUE Hotel and Restaurant £24,750 per annum. UBR, as of April 2012, 45.8p in the £. Our Rateable Value figure has been obtained from the Business Valuation website at the time of the property detail going to print, however, we would advise all applicants make their own enquiries via the Valuation Office or website regarding this figure.
VIEWING Strictly by appointment through the selling Agents.
VAT We understand that our client has not opted to charge VAT. All interested parties should make their own enquiries of HMRC
From the M5 - South:
Junction 27 onto A361- West for 25 miles.
Right onto A399. North for approx 12 miles to
Blackmoor Gate. Right onto A39, Travel for approx 6 miles. Left at Barbrook- Barbrook Rd., which becomes Lynbridge Rd. Follow signs for Lynmouth, onto Lynmouth Hill and down into Lynmouth. The hotel is on the left as you enter the town. We provide a Free on-site residents car park.