Pub/bar for sale in Kilkhampton, Bude EX23

Centre of Cornwall village
2 bar areas (50), dining room (30), skittle alley/function room (70)
5 quality en suite letting bedrooms
3 bedroom self-contained accommodation
Trade gardens (74), car park
Net turnover of £600,000 - new lease
Freehold offers over asking price and leasehold options available

The New Inn is located along the Atlantic Highway (A39) in the village of Kilkhampton. The village is 5 miles north-east of the seaside town of Bude on the northern edge of Cornwall. Kilkhampton has many amenities such as a post office, primary school, community centre, three general stores, two pubs and a selection of shops. The area is popular with people visiting nearby Bude or Tamar fishing lakes, which border Devon. The village has a population of around 1,400 residents, with Bude having a further 9,200.

The New Inn is a two storey property with rendered elevations under a pitched slate roof. There is a single storey extension to the rear which is home to the function room.

Trade areas

Entrance from Kilkhampton Road into the lounge bar that has hand built elm furniture to seat 30 customers. Presented with fitted carpet and character features such as exposed stone walls, ceiling timbers and a stone built open fireplace.

Main bar: With similar furnishings to seat 20 and sharing many of the same characteristics as the lounge bar. This trading space is fitted with impressive flagstone flooring, wall panelling and an interconnecting polished top bar servery with back bar display (stone fronted in main bar and brick fronted in lounge bar).

Dining room known as the ‘Woodburner Room’ which can seat 30 customers and continues the flagstone flooring and furnishings, together with feature woodburning stove.

Function room with skittle alley and seating for 70.

Catering kitchen with nonslip flooring, hygienic wall cladding and fitted with an extensive range of stainless steel equipment including a Rational oven and extraction system. Preparation area with walk-in cold room. Separate wash-up room.

Staff toilets and storeroom. Ladies’ and gentlemen’s customer toilets.

Ground floor refrigerated beer and bottle store.

Letting accommodation

Located on the first floor extension with separate external access comprising:

- 3 double bedrooms with en suite shower room.
- family room with en suite shower room and private terrace.
- single bedroom with en suite shower room.

Owners accommodation

Located over two storeys with internal and separate external access. It comprises:

- two double bedrooms.
- One single bedroom.
- Domestic kitchen.
- bathroom.
- lounge.
- utility.

External

Enclosed and lawned trade garden with patio area and bench seating for 60 customers. Front trade patio with additional seating for 14 customers. Smoking solution. Tarmac car park. Service yard.

The New Inn has been in the same ownership since 1982. During this time, the business has become an established destination freehouse which enjoys good passing trade from those travelling on the A39, especially in the summer months when tourism is higher. It is popular with the local villagers and used by members of various sports teams, including those playing skittles, darts and pool. Group events such as shoots and fishing trips take place from The New Inn.

Profit and loss account for the year ended 30 June 2022 show an annual net turnover of £607,118 with a gross profit of 66%. The net profit for this year end was in excess of £175,000. It is anticipated that the year ending 2023 profit and loss accounts will show an increase in takings.

The trade split is estimated to be around 56% food, 40% wet and 4% letting. Further accounting information may be made available to serious applicants following a formal viewing.

Our clients would now like to move on from the business as they have been working at The New Inn for over forty years and wish to retire. There is scope to increase takings by improving the marketing of the newly fitted letting rooms which have, to-date, received minimal advertising. With a popular seaside resort nearby, this could be a great business opportunity.

No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.