HIGH STREET, COMBE MARTIN, NORTH DEVON, EX34 0ET
Status:
Available
Price:
Offers invited in the region of £895,000
Reference Number:
1510

17TH CENTURY LANDMARK BUILDING COMPRISING OF BAR, RESTAURANT AND HOTEL WITH TURNOVER OF £600,000 AND HIGH ASSOCIATED PROFITS

* Constructed in 1690 by a Gambling Squire to denote the features of a pack of cards e.g. 52 windows, 13 rooms, 4 floors, etc, etc,
* Same ownership for past 20 years with current owners having managed and maintained the premises to a high standard
* Restaurant covers for approximately 84 including conservatory dining area
* 6 en-suite letting bedrooms and 3 storey owners accommodation
* Substantial beer garden, play areas and car parking
* Turnover £600,000 with highly profitable trade, despite little / no advertising being undertaken particularly on line
* Suitable for operation by owner occupier, management or staff team
* For sale due to pending retirement
* Original coaching / stable building suitable for conversion & many adaptations, subject to PP

LOCATION
Combe Martin has a population in the order of 2,500 and is situated approximately 4 miles to the east of Ilfracombe.  Barnstaple, the sub-regional centre of North Devon is situated approximately 14 miles to the north.

THE SITUATION
The subject property is within the central core of the town and is well situated to attract passing trade.  The High Street is the main arterial road leading to the beach and bay of Combe Martin and provides guests with close proximity to village centre facilities.  A key attribute of the property is that it has significant on site car parking.
  
THE PROPERTY AND CONSTRUCTION
It is rumoured that the original structure was built by Sir George Ley in 1690.  The legend is that the then Squire was a regular gambler and after a large win, he commemorated the event by commissioning a new house built symbolising the features of a pack of cards.  Four principle floors to represent the four suits, thirteen key rooms for the number of cards in a suit, fifty two windows, fifty two stairs and the originally structure was supposedly built on a ground area measuring 52’0 x 52’0.  The design of the property was in the style of a house of cards.  The main building is of stone structure, of random stone and cob, with sash casement windows, under numerous slate roofs.   Many features of architectural merit remain, as such the building is Grade II Star Rated.  The premises offers a main lounge bar, 3 principle dining areas with covers for approximately 84, this includes conservatory dining overlooking the beer garden.  At first floor level are 6 en-suite letting bedrooms, which also benefit from a private street level entrance.  At present the owners occupy the remaining 3 floors consisting of 4 bedrooms as well as a private lounge.  The property is on a substantial plot and provides a well manicured beer garden, two play areas and car parking, with a southern stream boundary.  Adjoining the car park is the original stable block / coach house which offers considerable potential to new owners for conversation to further owners accommodation, letting bedrooms, holiday units, staff accommodation etc subject to planning permission.

FEATURES OF ARCHITECTURAL MERIT
Having considered the buildings unique history and design, the interior has certainly not been forgotten.  The main bar is virtually fully panelled with oak fireplace with scroll and acanthus leaf decoration.  There is also original plaster work ceiling, flagstone flooring to the main reception hallway, many original beams, pillars and uprights.  There are several examples of original ceiling plaster work, as well as the George Ley Coat of Arms dentil rail and wainscoting to the first floor letting rooms.   One of the most intriguing rooms is retained by the owners as a private office known as The Oak, with features throughout the ages.  Early oak carved wainscot walls, an arched neon Grecian style window with reeded columns and thirteen panels of glass.  A built in oak writing desk reputed to be where Marie Corelli sat when writing “The Mighty Atom”, (a tale centred on Combe Martin).   Examples of Victorian and Adam style fireplaces are also still in situ.  During our clients 20 year tenure the premises have been well sympathetically and maintained internally and externally.

THE BUSINESS
Although our clients live on site much of the operation of the business is undertaken by staff including chef, second chef, house-keepers, bar and waiting staff.  As such the wage bill for last year amounted to £150,000, despite this the business had a significant net profit of approximately £100,000.  New owners could operate the business to suit themselves but it is thought the wage bill could be drastically reduced if desired thus increasing the profitability of the business.  Alternatively there is a staffing structure in place should new owners not wish to undertake day to day operation of the business.  Turnover for last year was £570,000 with a high proportion of this coming from food sales and hotel accommodation.  It is thought there is still further scope to increase the trade as no advertising is undertaken for the hotel, restaurant or bar.  Operating hours are 11am - 11pm with food served all day during the summer months with winter food service being undertaken between 12pm - 3pm and then again from 5.30pm.  Previously the business offered plated Sunday lunch until early 2016 where a carvery servery was purchased which has seen an uplift in Sunday lunch trade as well as an easier food service to manage.  The premises is home to home to assorted darts and skittles teams.

THE PROPOSAL
Our clients are inviting offers for the Freehold interest.

LICENCE
The property is sold with the benefit of a premises licence.

STOCK
Any current stock to be purchased at valuation.

ENERGY PERFORMANCE CERTIFICATE
The property is Grade II Star Listed, therefore an Energy Performance Certificate is not required.

THE INVENTORY
The property is sold subject to a full inventory of trade fixtures, fittings and equipment.

THE ACCOMMODATION  (in brief comprises)

GROUND FLOOR

With original central hallway with flagstone floors, beamed ceilings and walls.

MAIN BAR
Character bar with three quarter panelling, plate rail, oak fireplace with scroll and acanthus carving, segmental brick arch, ceiling coving and original plaster work to ceiling, built in bar servery, mirrored optic shelving and original doors to back kitchen

MAIN RESTAURANT
Wood flooring and accessed via the main hallway, wooden tables and leather chairs with covers for c.22.  Leading to:-

SNUG DINING AREA
Wood flooring snug dining area with covers for circa 20

CONSERVATORY
Wood flooring with under floor heating, double glazed windows and entrance doors to the front and side of the property.  Wooden table and leather chair seating for  circa 32 covers, giving access to the rear lawned garden


CARVERY SERVERY
With carvery station

SKITTLE ALLEY
With beamed ceilings, a mixture of tables and chairs, access to the garden via double doors.    This room is also home to a mini museum with some local history and memorabilia.

MAIN COMMERCIAL KITCHEN
Full complement of commercial equipment including 2 x deep fat fryers, Rational oven, griddle, 6 burner over, chiller gantry, rear trade servicing to outside

Freezer room, laundry room and cellar

FIRST FLOOR

With six en-suite letting bedrooms and separate street level entrance for guests.  Original feature hallway, feature plastic work, George Ley Coat of Arms, dentil rail and wall wainscot

FLOWER – FAMILY
16’8 x 12’0 (5.08m x 3.66m) 3 piece en-suite

ROSE – FAMILY
19’0 x 12’0 (5.79m x 3.66m) 3 piece en-suite

MAGNOLIA – FAMILY
16’0 x 12’0 (4.88m x 3.66m) 3 piece en-suite

PINK – FOUR POSTER
15’9 x 15’7 (4.80m x 4.75m) early fireplace, 3 piece en-suite

FUCHSIA
16’0 x 15’8 (4.88m x 4.78m) feature plastic ceiling, early fireplace, 3 piece en-suite

CORAL – FAMILY
12’0 x 16’0 (3.66m x 4.88m) dual aspect , 3 piece en-suite

LADIES TOILETS  

GENTS TOILETS

STAFF ROOM

SECOND FLOOR - Currently used as owners accommodation from this floor upwards

THE OAK
With arched double doors, early oak carved wainscot walls, Victorian fireplace, built in oak writing desk reputed to be the desk where Maria Corelli wrote “The Mighty Atom”.  The feature 13 panelled windows with archway in a neon Grecian style with reeded columns, built in wardrobes, utilised as proprietors office.

PRIVATE LOUNGE
15’10 x 15’9 (4.82m x 4.80m) coved ceiling, radiator, early wrought iron grate, dado rail decorations

PRIVATE DOUBLE BEDROOM
15’7 x 13’8 (4.75m x 4.17m) hand basin, radiator, early fireplace, wrought iron grate plus en-suite bathroom, shower and w.c.

Open hallway with panelled wainscot walls and built in original linen press / wardrobe.
Separate w.c.

Agents Note

The third, fourth and fifth floors are smallers floors and graduate as the building ascends.

THIRD FLOOR

As one Private Bedroom 25’10 x 7’8 (7.87m x 2.34m) pedestal hand basin, built in wardrobes, separate shower.

FOURTH FLOOR

Private Bedroom / office 15’7  x 7’2 (4.75m x 2.19m) built in wardrobe

FIFTH FLOOR

Attic Room / bedroom
8’5 x 9’9 (2.57m x 2.97m) with dual aspect windows and views

OUTSIDE
The property has tarmacadam parking with an overflow parcel of ground for additional parking.  Substantial beer garden with patio area but predominately laid to lawn, children’s activity and external play area, stream boundary.  There is also a coach house stable block on two floors measuring 45’0 x 16’0 (13.71m x 4.88m) it is thought this could suit a wide variety of uses such as private accommodation, further letting bedrooms, holiday unit etc subject to planning permission.

IMPORTANT NOTICE
JD Commercial for themselves, and for the Vendors of this property whose Agents they are, give notice that:
1.  The Particulars are set out in general outline only for the guidance of intending purchasers and do not constitute part of an offer or contract.  Prospective purchasers should seek their own professional advice.
2.  All descriptions, dimensions and areas, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them.
3.  No person in the employment of JD Commercial has any authority to make or give any representation or warranty whatever in relation to this property or these particulars nor to enter into any contract relating to the property on behalf of JD Commercial, nor into any contract on behalf of the Vendors.
4.  No responsibility can be accepted for any expenses incurred by any intending purchaser in inspecting properties which have been sold, let or withdrawn.

PROPERTY MISDESCRIPTIONS ACT 1993
1.  All measurements are approximate.
2. While we endeavour to make our sales particulars accurate and reliable, if there is any point which is of particular importance to you, please contact JD Commercial and we will be pleased to check the information for you, particularly if contemplating travelling some distance to view the property.
3. We do our utmost to comply with this Act in full.  However we are also trying to represent our clients’ properties in their high possible light, as such we may use summer photographs to promote some properties.

VIEWING
By strict appointment through the selling Agents, JD Commercial, 42 Ridgeway Drive, Bideford, North Devon. EX39 1TW
TEL: (01237) 424053 / 07868 846357 E-MAIL: sales@jd-commercial.co.uk