The Exeter Office of leading licensed property agents, Christie + Co, has been instructed to market the leasehold interest of a prominent public house in Tavistock, Devon.
The Cornish Arms is located on West Street in Tavistock, a thriving market town in West Devon on the western edge of Dartmoor National Park. The town is at the heart of an important agricultural area and has a population of approximately 12,000. With its fascinating history and beautiful surroundings, it attracts visitors from surrounding areas including Plymouth, Okehampton, Callington and Launceston.
Tavistock is situated on the side of the River Tavy and can be easily accessed via the A386, which joins both the A30 and the A38 to the M5 motorway network.
The property is a substantial terraced public house and restaurant and briefly comprises a lounge bar, games rooms, restaurant and substantial commercial kitchen on the ground floor and extensive owner’s accommodation and a substantial function room on the first floor. At the rear is a good-size courtyard beer garden and space for patrons’ parking.
A popular local pub with potential for lettings, the Cornish Arms also has a “stand-alone” restaurant called Monterey Jacks, which has a North American theme. The business has traded on a consistent basis and currently turns over in excess of £550,000 net of VAT, with a healthy bottom-line profit.
Jon Clyne, Associate Director at Christie + Co’s Exeter Office who is handling the sale, commented: “Having owned the Cornish Arms for over 25 years, our clients are now looking to retire from the trade. Any prospective purchaser can expect to inherit a profitable, well-run business that would suit an owner-operator with a more hands-on approach to increase profits further.”
The leasehold of the Cornish Arms is available off an asking price of £79,950.
