Herefordshire - Wye Valley Renowned Dining Venue In Idyllic Location With Outstanding Views

Well-known public house in idyllic location with outstanding views
6 section interconnecting bar and restaurant facilities (110+)
Three bedroom owners accommodation
Superb trade gardens and large car park
High trading property to let on favourable free-of-tie private lease

The village of Aston Crews is approximately five miles from the popular market town of Ross-on-Wye being just X miles from junction 4 of the M50 motorway and also provides easy access motoring links to South Wales and the Midlands conurbations via the M5 motorway. This part of Herefordshire is close to the Gloucestershire border and is a popular spot for those visiting Herefordshire, the lower Wye Valley, Gloucester and the nearby Forest of Dean.

The Penny Farthing Inn is a centuries old property with many period features and exposed stone and brick walls, beamed ceilings, boarded floors etc. It offers interconnecting split level bar and dining facilities which can cater for comfortably over 100 customers, all arranged around a central servery with is the fulcrum of the pub. There is a large catering kitchen and spacious three bedroom owners accommodation at first floor. In addition, the property benefits from outstanding gardens commanding views over the Wye Valley across to the Forest of Dean, one of the best external trading areas for many miles around. The property is briefly described as follows:
TRADE AREAS
The trading areas can seat comfortably over 100 customers with the main LOWER BAR area having principally boarded floor, heavily beamed ceilings, counter from CENTRAL SERVERY and seating for 44 customers. To the bottom end of this bar is a private DINING ROOM which can seat 20 or so customers and above it is a split level DINING AREA in four sections able to cater for an additional 42 seated.

The property benefits from a large CATERING KITCHEN appointed to an extremely good standard and comprehensively equipped with a full selection of stainless steel catering effects and work surfaces. There is a PREPARATION ROOM and a FREEZER ROOM.

LADIES', GENTELMEN'S and DISABLED TOILETS.

BASEMENT CELLAR.

OWNERS ACCOMMODATION
FIRST FLOOR:
Private accommodation comprising KITCHEN, DINING ROOM, LOUNGE, 3/4 BEDROOMS (3 with EN SUITE), and SHOWER ROOM.

EXTERNAL
The best feature of the premises is the trade gardens which, from their elevated position, provide commanding views over the adjacent countryside to include the Forest of Dean and the River Severn. It is principally lawned with a timber decked section and stone paved area. There is seating for over 100 customers and a children's play area. Smoking solution seating 20. Car park for 40.The property was acquired by our clients in 2006 as an investment. He is an owner of other licensed premises and commercial properties. It has subsequently been let to independent tenants on a private, free-of-tie lease which is coming to an end in June of this year. The property is therefore being offered to let on these favourable lease terms.

Whilst prospective purchasers and tenants will not have access to these trading figures, we have seen accounts for the year ended 31st May 2023 which show takings net of VAT of £507,906.

FREEHOLD £450,000 to include trade inventory, furniture, fixtures, fittings and effect. Stock at valuation in addition. 

The Property is elected for VAT. VAT will be levied on the sale price of the freehold at the standard rate on 90% of the purchase price. Purchasers may wish to satisfy themselves with independent professional advice that this VAT may be reclaimed.

Or, alternatively

LEASEHOLD: £28,500 to include fixtures and fittings. Stock at valuation in addition
TERM: Six years
LANDLORD & TENANT ACT 1954: Inside Part II Landlord & Tenant Act 1954
ASSIGNABILITY: Fully assignable subject to Landlord's consent
BOND: A bond equivalent to three months' rent in advance
RENT: £41,600 per annum, paid monthly in advance
RENT REVIEW: Subject to rent reviews every third year of the term
REPAIR LIABILITY: Part repairing and insuring lease agreement. This is not a full repairing and insuring lease with the freeholder retaining responsibility for the structure of the building. The lessee will be responsible for internal maintenance, repair and decoration as well as the decorative condition of the exterior of the property
TIE: Free of all trade ties
INSURANCE: The Landlord will insure the building, the cost of which will be charged to the Tenant by way of an Insurance Rent
VAT: VAT will be payable on the Premium and rental payments