Pub for sale

The Castle Inn, 16, Fore Street, St Ives, Cornwall

Sold STC £125,000

Property Description

Key features

  • HISTORIC PUB IN THE HEART OF ST IVES
  • TRADITIONAL BAR WITH 50 COVERS
  • WELL EQUIPPED COMMERCIAL KITCHEN
  • 1 BEDROOM OWNERS FLAT
  • OFFERED WITH THE ASSIGNMENT OF THE EXISTING LEASE
  • EPC RATING (D)

Full description

A Historic pub in the heart of the sought after coastal town of St Ives with one bedroom owners accommodation.

Arranged over 3 floors the business comprises a large traditional bar area with 50 covers, commercial kitchen, cellar, dry store and office and a one bedroom flat.

Location - The Castle Inn is situated on Fore Street, the principle trading street in the enormously popular harbour side town of St Ives.
St Ives needs little introduction as one of the County's, if not the Country's, foremost all year round holiday destinations and, indeed, has seen significant investment in recent years with a rapidly expanding population.

Property - The Castle Inn occupies a 3 storey premises believed to date back to the 1840's, with a distinctive stained glass windows to the front elevation.
Internally, the pub offers much charm and character with a traditional bar and slate flagstone floor.
The commercial kitchen, office, cellar and dry store are located on the second floor with one bedroom owners accommodation on the second floor.

Business - The Castle Inn has been in our clients tenure for the past 4 years, during which time they have built up a reputation amongst both the local community and holiday makers for their live music nights, which they host on Fridays and Saturdays with a late license.
The business is held on a 3 year rolling Trust Inns lease at a passing rental of £43,000 per annum, (inclusive of VAT). The pub is tied in respect of beers and soft drinks.

Trading accounts for the year ending 31st May 2016 show sales of £402,828, with a 60/40 split in favour of wet sales.
Further accounting information will be made available to interested parties, following a viewing, in the normal manner.

Schedule Of Accommodation - (all areas and dimensions are approximate)

Entrance vestibule with part glazed door to:

Main Public Bar - 13.49m x 6.56m (44'3" x 21'6") - A traditional bar area with beamed ceiling, exposed stone wall, slate flagstone floor and feature stained glass windows to the front elevation. Built in wooden return bar servery with bar stools and tables and chairs providing approximately 50 covers.
Access from the rear of the bar to the upper floors and rear courtyard.

Ladies Wc - Comprising 2 WC's , vanity wash hand basin and wall mounted hand dryer.

Gents Wc - 2 Urinals, 1 WC and pedastal wash hand basin.

First Floor - Hallway with stairs to second floor and doors to:

Office/Store Room - 1.99m X 1.48m (6'6" X 4'10") -

Cellar - 6.27 m x 3.34m (20'7" mx 10'11") - Giving access to:

Bottle Store - 2.66m x 2.24m (8'9" x 7'4") - Ice machine, range of built in wooden shelving.

Kitchen - 4.27m X 3.45m (14'0" X 11'4") - Stainless steel 6 ring gas range with extraction hood over, Lincat double fryer, 4 door stainless steel low level refrigerated unit, Buffalo fryer, stainless steel warmer, Polar upright fridge, Polar triple drinks fridge, 2 Buffalo microwaves, 1 Daewoo microwave, 1 Buffalo soup cauldron, 3 stainless steel work benches, wipe clean walls, commercial non slip floor.
Access to shared rear courtyard giving street access for deliveries.
Access to:

Wash Up Area - 3.35m x 2.37m (11'0" x 7'9") - Double stainless steel sink drainer, dumb waiter to rear of ground floor bar, Class EQ dishwasher, freestanding wire storeage racks, chest freezer, wipe clean walls, commercial non slip floor.

Second Floor Accommodation: -

Lounge/Kitchen - 5.46m X 3.29m (17'11" X 10'10") - Dual aspect room with kitchenette.

Bedroom - 4.40m x 3.15m (14'5" x 10'4") - Window to front elevation.

Bathroom - WC, pedestal wash hand basin, bath with electric shower over.
Door to:

Rear Terrace - With large wooden storage shed.

Tenure - The business is offered for sale on the basis of the assignment of the existing 3 year rolling Trust Inns lease at a passing rental of £43,000 per annum, (inclusive of VAT).

General Information - LOCAL AUTHORITY
Cornwall Council
General Enquiries 0300-1234-100
Planning 0300-1234-151
www.cornwall.gov.uk

Eneregy Performance Certificate - The Energy Performance Rating for this property is within Band (D).

Inventory - 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.

Premises Licence - We understand the business currently holds a premises licence in respect the sale of liquor for consumption on and off the premises.

Business Rates - We refer you to the government website https://www.tax.service.gov.uk/view-my-valuation/search.

Services - Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: 0845 601 2989
South West Water: 0800 169 1144
Transco: 0800 111 999

Stock - To be taken at valuation.

Value Added Tax - All the above prices/rentals are quoted exclusive of VAT, where applicable.

Finance - If you require advice regarding the Financing of a Business, at no initial cost, please contact us on the number below.

Contact Information - For further information or an appointment to view please contact either:-
Graham Timmins on 01872 247019 or via email gt@miller-commercial.co.uk or
Paul Collins on 01872 247029 or via email pc@miller-commercial.co.uk or
Beverley Northey on 01872 247031 or via email bn@miller-commercial.co.uk

PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate.

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] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] 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.

VIEWING: Strictly by prior appointment through Miller Commercial.


More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • St. Ives (0.3 mi)
  • Carbis Bay (1.3 mi)
  • Lelant (2.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Miller Commercial, Truro

Mansion House Princes Street, Truro, TR1 2RF

01872 490012 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • St. Ives (0.3 mi)
  • Carbis Bay (1.3 mi)
  • Lelant (2.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Miller Commercial, Truro

Mansion House Princes Street, Truro, TR1 2RF

01872 490012 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 27461181. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Miller Commercial, Truro. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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