Status: For Sale
Tenure: Leasehold
Leasehold Rent: £32,000 per annum
Turnover: £567,289
Busy Public House/Restaurant in Kingsteignton, Devon For SaleBusy Public House/Restaurant in Kingsteignton, Devon For SaleBusy Public House/Restaurant in Kingsteignton, Devon For Sale
FREE OF TIE - FREEHOLD OPTION £850,000 + SAV
£140,000 + SAV

Busy Public House/Restaurant in Kingsteignton, Devon For Sale

For Sale
  • Reference: 13538 I
  • Location: Newton Abbot, Devon
Hilton Smythe is delighted to welcome to the market this well established and popular public house and restaurant business, which is ideally located within Kingsteignton, Devon.

The public house is an old historic inn and has been in our client's careful ownership since 1999. Only now is the business being offered to the market, due to our client's family commitments. The business currently operates 7 days per week and generates an excellent turnover in the region of £567,300 per annum, with a gross profit of approximately 59%, according to the 2016 accounts.

The Old Rydon Inn is a grade II listed farmhouse, which was part of Lord Cliffords Manor, from the reign of Henry II up to the 18th century. The restaurant lounge and dining room are the oldest part of the property and still boast the original elm screens from the early 16th century. The restaurant, although a newer addition, is still over 150 years old and features a 50ft well, built in the Middle Ages. The inn consists of a collection of different dining areas, each providing a unique experience.

The bar boasts an open fire and snug little alcoves serving several local ales and ciders, specialist German beers and a selection of wines. The main restaurant, with quaint alcoves and glass tables, sits over the original well and has recently been refurbished to a very high standard. The conservatory offers a tiered open layout, natural light and exotic plants and is overlooking the vined terrace and award winning botanical beer garden.

The Apple Loft is situated above the bar with an original steep entrance and exposed beams. The Private Dining Room is sophisticated and elegant, situated away from other diners and can be booked for special occasions and functions. It can accommodate up to 18 people. The Garden Room, with its own separate bar, large Inglenook fireplace and views of the garden is the perfect place to relax. During the warmer months, customers can enjoy the beer garden and a meal under a vined terrace or on the lawn.

Our client offers a wide variety of fayre with all the meat and vegetables being locally sourced from careful selected suppliers. The Old Rydon Sunday Roast has become locally famous, boasting a selection of three meats and 8 veg. Our client also offers fish and chip takeaway meals between Monday and Thursday each week, which has proved to be very popular.

To the first floor of the property is the large owners' accommodation which consists of a large lounge area, lovely fitted kitchen, office, family bathroom and four bedrooms. The accommodation is very well maintained and tastefully presented. We are advised a freehold option is available for £850,000 + SAV.

The business has built up an excellent reputation within the area and further afield for the very high quality of the food and services offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

We feel there is scope to increase the turnover by extending the opening hours. A new owner could also embark on a modest marketing campaign to promote the business. There is also scope to let some of the bedrooms on a bed and breakfast basis, which could increase the turnover. The inn already has an excellent and very informative website in place to promote the business at www.oldrydoninn.co.uk.

This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this thriving business to the next level; therefore, early discussions must come highly recommended to avoid disappointment.

TENURE

We are advised Leasehold:

New lease to be negotiated.
Rent: £32,000 per annum.

HOURS

The business is open:

Monday - Thursday: 11.00am - 3.00pm and 5.00pm - 12.30am
Friday - Saturday: 11.00am - 12.30am
Sunday: 11.00am - 12.00am

STAFF

The business is owner run and managed with 4 x full time and 25 x part time staff members.

FINANCIAL PROFILE

The business generates an excellent turnover in the region of £567,300 per annum, with a gross profit of approximately 59%, according to the 2016 accounts.
The Old Rydon Inn occupies substantial two storey premises, ideally located within the town of Kingsteignton in Devon. The public house is situated on the busy Rydon Road and is surrounded by densely populated residential areas, from which the business derives much trade. The business benefits from a high volume of footfall and passing trade, as well as a large car park to the side of the property.

Kingsteignton is a town and civil parish in South Devon. It lies at the head of the Teign Estuary to the west of Teignmouth. The town has a residential population of over 11,000, according to the 2011 census. Kingsteignton is home to two high achieving primary schools and an excellent community college. The town is a very popular tourist destination due to its proximity to the coastal towns of Teignmouth and Torquay.

The area of the business is served by the public transport system, with a bus stop being within easy walking distance of the property. The nearest railway station is Newton Abbot, which is approximately 3 miles away. The area is also well served by the A-roads, with the A380 being within easy driving distance, which links to the national A-road and motorway networks. Teignmouth is approximately 5 miles away and Torquay is 9 miles away.
Substantial two storey premises in an ideal trading location, briefly comprising:

Main bar with:

Feature log fire.
20 plus covers and standing room.
Exposed beams.
Exposed stone.
Central timber servery with access to rear cooling room and ancillary area.
Upper mezzanine floor with exposed stone, low vault ceiling and gallery, this area boasts 30 covers.

Conservatory restaurant with:

Set over two tiers.
Upper tier offers 30 covers.
Lower tier offers 20 covers.
Light and airy feel.
Exposed timbers.
White-washed stone.
Exposed stone.
Quarry tiled floors.
Duel patio doors, leading to al-fresco dining and gardens with 30 covers.

The garden room with:

Original beams and timbers.
Sash windows.
Stunning open feature log fire.
Corner servery.
French door to gardens.
Large wall-mounted TV.
This room is ideal for functions, weddings parties etc.

Internal restaurant with:

This is the second restaurant room.
Very characterful.
White washed stone.
Exposed beams and timbers.
Snugs and inglenooks.
25 x covers.

Private dining room with:

Can accommodate 18 people.
Very private.
Lots of character.
Exposed timbers.
Lovely décor and ambiance.

Fully equipped commercial kitchen with:

Griddle.
Gas burners.
Extraction system.
Hot plate.
Hot cupboards.
Preparation tables.
Numerous refrigerators and freezers.
Separate wash-up and ancillary areas.
£30,000 worth of modern equipment including sound system and EPOS machine.

Ancillary areas:

Large central waitress station.
Ladies and gents' WCs with motion sensor lighting.
Large rear wash and dry room with an array of white goods.

Owners' accommodation with:

Large lounge.
Lovely fitted kitchen.
Office.
Family bathroom.
4 x bedrooms.

The property is very well maintained and tastefully presented.

External:

Large car park.
Large outside storage buildings and dry stores.

Contact us today for more information

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