Location
The Golden Lion occupies a prominent position on New Road, the main road into the picturesque South Devon harbour town of Brixham, with the harbour and town centre only a five-minute walk away. The surrounding area is mainly residential, providing a loyal catchment of regular local customers, with a number of commercial premises opposite.
Brixham is one of England’s most important working fishing ports and one of the best-loved resorts on the English Riviera, with a population of around 17,000. Its colourful harbour, Golden Hind replica, Berry Head National Nature Reserve and the South West Coast Path draw large numbers of visitors throughout the year. Paignton and Torquay are a short drive away, and Torbay as a whole has a population of around 139,000.
The Business Premises
The property has been comprehensively upgraded by the current owners and is immaculate throughout, combining traditional pub character with a warm, stylish finish: tartan carpets and upholstery, black wood panelling, exposed stone and brickwork, open fires and festoon lighting.
Entrance Vestibule
Leading to:
Public Bar (6.7m × 3.8m)
A cosy, characterful bar seating around 20, with leaded light windows to the front, black panelled walls, wall-mounted TV and a feature arched brick fireplace with inset wood burner.
Bar Servery
An eye-catching servery beneath a canopy bearing the Golden Lion insignia, with overhead glass racks, festoon lighting, cask ale handpumps, a range of keg fonts and back bar refrigeration.
Main Bar / Restaurant (14m × 4m)
A large and beautifully presented trading area seating around 50, with tartan upholstered dining chairs, a stone inglenook fireplace with log store, a second brick fireplace, exposed stone walls and a hand-painted “Proud to support local” Devon brewery map.
Ladies and Gents WCs
Both well presented.
Commercial Kitchen (3.6m × 4.6m)
Newly constructed and fitted with brand new equipment, including Polar under-counter refrigeration, refrigerated preparation counter, stainless steel workstations and shelving, commercial microwaves, double bowl stainless steel sink with spray rinse tap, non-slip flooring and extensive storage racking.
Cellar
Private Accommodation
First Floor Owner’s Accommodation
Can be separately accessed and comprises:
Kitchen / Breakfast Room (4.6m × 4.9m)
With beamed ceiling, fitted wall and floor units and wood-effect floor.
Lounge (5.6m × 5.1m)
A spacious and well presented room with feature fireplace.
Bedroom One (4m × 3.3m)
A stylish double bedroom.
Bedroom Two (4m × 3.3m)
With dressing room off (2.7m × 2.3m).
Bedroom Three (4m × 3.1m)
Bathroom and Separate WC
Bathroom with white suite.
Self-Contained One-Bedroom Flat
Completely self-contained and set in a separate building away from the main pub, the flat has its own access and can be reached without going through the pub. It is ideal for subletting on a residential basis, where it could easily raise £12,000 a year, or alternatively it could be used as holiday letting accommodation. This is an excellent source of additional income that is not currently being exploited.
Open-Plan Kitchen / Sitting Area (6m × 4.1m)
With fitted kitchen units, laminate floor and wall-mounted electric fire.
Bedroom (4.3m × 2.6m)
With laminate floor.
Modern Fitted Bathroom
With white suite and shower over corner bath.
Outside
Rear Garden
The subject of a capital expenditure project costing over £50,000, the rear garden is a stunning multi-level terraced sun-trap garden for over 80 customers. It features gravel terraces, new timber screening and balustrading, stone steps, mature planting, an old wishing well and superb outdoor lighting that makes it just as attractive in the evening. Dog friendly.
The Property
A well maintained property with new roof and central heating throughout.
The Business
The Golden Lion is a very popular community local, known for its cask ales, home-cooked food, traditional Sunday roasts, weekly quiz night and monthly live bands. It is dog friendly and trades busily all year round. Unusually for a coastal town, it is busier in the winter than in the summer, which offers an incoming operator great scope to develop trade from the fantastic new garden. The business is also currently closed all day Monday.
Annual turnover is £332,766 net of VAT. In addition, the self-contained flat is not currently let and could easily raise a further £12,000 a year, or alternatively be used for holiday letting.
The current owners have spent considerable sums improving the business, including the newly constructed kitchen and the £50,000+ garden renovation, and the pub is offered for sale only because they wish to pursue another business opportunity. There remains great scope to develop trade further from what is already a very substantial base.
Further trading information can be provided to interested parties on request to the agent.
Tenure
The business is offered leasehold, free of tie. The lease is for a term of seven years, with approximately five years unexpired, and is renewable under the Landlord and Tenant Act 1954.
The rent is £26,400 per annum.
Price: £85,000 leasehold, to include the goodwill and trade fixtures and fittings, plus stock at valuation.
Rates and Council Tax
Business rates: zero payable.
Council Tax: £1,450 per annum on the owner’s accommodation, plus £1,450 per annum on the one-bedroom flat.
