• Fair Maintainable Trade* (FMT) Net Turnover: £600k per annum
  • Rent: 10% of turnover
  • Initial Investment: £25k minimum
  • Wet/Dry split: 30%/60% (plus 10% accommodation)
  • 7 new letting rooms
  • Stunning pub interior
  • Adjacent housing development planned
  • Off-site domestic accommodation is a modern 3 bedroom house

A former H&W managed house, the Barn Owl is a renowned Devon pub boasting an excellent reputation and a long history. The interior is stunning and really needs to be viewed to be appreciated. The pub has many attractive areas predominantly for dining, although there is also a soft seating area, TV and pool area, and a snug suitable for private dining or meetings. The 7 new letting rooms have been added above the pub in what was the business partner accommodation. As a result, a 3 bedroom house within 10 minutes drive of the Barn Owl is available (rent free) for a new business partner. There is also a flat within the grounds of the pub that is ideal as team accommodation. There is a secluded garden area to the rear of the property and a large amount of guest and private parking.

 

The domestic accommodation is off-site, and is a modern 3 bedroom house with a lounge/diner, kitchen and cloakroom downstairs, and 3 bedrooms, bathroom and en-suite shower room upstairs. There is also private parking, garage and a small garden to the rear of the property.

The business is now multi-faceted and would best suit an owner operator who is comfortable with a sizeable food operation and who ideally has had experience operating and marketing letting rooms. Therefore the ideal applicant(s) will be chefs/restaurateurs, traditional publicans or existing managers or tenants. A good knowledge of the area is preferable but not essential, and knowledge of a seasonal business would be a distinct advantage.

 

Top Line Figures

  • Rent:  10% of turnover
  • Initial Investment: £25,000 minimum
  • Fair Maintainable Trade* (FMT) Turnover: £600,000 net per annum

Full Investment Breakdown †

  • Deposit: £7,500
  • Training Fee: £1,000 plus VAT
  • Working Capital: £5,000
  • Fixtures & Fittings: £15,000 deposit to facilitate a loan for the remainder of the F&F (Inventory is an estimate net of VAT. Loan facilities are available for the purchase of fixtures and fittings).

Additional Information

  • Estimated Wet/Dry/Accommodation Split: 30%/60%/10%
  • Business Rates: £18,783
  • Available From: 23/04/2020
  • Closing Date: 14/12/2019
  • Last 3 year Volume
  • Beer & Cider - Barrels
  • Wines - Litres
  • Spirits - Litres
  • Soft Drinks - Litres
  • Current Year
  • 98
  • 1960
  • 120
  • 3020
  • Last Year
  • 91
  • 2140
  • 130
  • 2980
  • 2 Years Previous
  • 88
  • 2310
  • 100
  • 2730

Trade
Asset 2

The location and style of the Barn Owl requires an all day trading offer that seldom dips below £10,000 per week at any time during the year. However there is a summer uplift due to the  significant influx of tourists into the area, and this is particularly noticeable with the letting rooms. The trade is eclectic in nature and often attracts large party bookings. The menu offers quality pub food and Sunday lunch is historically the busiest session of the week. This is a significant food driven house and a premier Hall & Woodhouse tenanted opportunity.

 

 


Misrepresentation

*Fair Maintainable Trade (FMT) is the level of turnover and profit that we believe that the business is capable of delivering if being operated competently. The FMT is usually calculated by the Area Manager for the pub, who will produce a shadow profit and loss account for the business which supports the rent. A copy of the shadow profit and loss account will be provided during the recruitment process. Please see our Code of Practice for more information on FMT and rent. The Fair Maintainable Trade is not a guarantee of levels of trade or profit that will be made from the business – we strongly recommend you seek appropriate independent legal and business advice as part of your Business Plan.

† The Full Investment Breakdown for each public house is higher than the minimum investment we will accept because potential Business Partners with the minimum investment available can still be accepted as we are able to offer them financial support for the rest of the monies. The working capital incorporates the purchase of stock, glassware, loose catering effects and valuer fees – please note the number quoted on this website are based on estimates. The exact costs will be determined on the day you take on the public house by independent valuers and stock takers. Please see our Code of Practice for more information about investment.

Asset 2

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