• Fair Maintainable Trade* (FMT) Net Turnover: £650k per annum
  • Rent: 10% of net turnover but first year rent negotiable
  • Wet/Dry split: 40%/60%
  • Beautiful and popular Devon village location
  • Adjacent to a busy campsite with no refreshment facilities
  • Attractive and extensive patio garden, visible from the roadside
  • Large function room with opportunity for letting rooms

The Harbour Inn is a quintessential Devon thatched pub and regularly appears as one of the most attractive South West inns in guides and reviews. Inside the pub has been recently refurbished to create intimate drinking and dining areas, whilst retaining the pub’s working open fireplaces and traditional rustic character. On entering the pub from the car park, the large bar is directly in front of you, with the cellar and well-equipped kitchen located conveniently behind the bar servery. The pub has an adjoining spacious function room/double skittle alley, which is easily adapted for meetings, parties and weddings, but also holds great potential for conversion to letting rooms. Externally, a beautifully landscaped patio area runs along the front and down the side of the pub, and leads onto an extensive grassed garden, with a locally owned campsite immediately behind. Several outbuildings offer garaging, storage and a secondary cellar, and the pub is completed with a large car park.

 

Due to the seasonal nature of this business, the ideal applicant will be able to demonstrate skills in adapting labour budgets and resources to the trade available. This pub is well suited to a couple or a family with at least one team member an experienced chef, therefore we would welcome applications from chefs and restaurateurs, and existing pub managers and tenants.

Accommodation is on the first floor above the pub and has separate external access over a private patio area. The accommodation is in immaculate condition offering three good sized bedrooms (or two bedrooms with a self contained office), a large lounge and dining area, a bathroom/WC and a private kitchen.

Top Line Figures

  • Rent: 10% of net turnover but first year rent negotiable
  • Initial Investment: minimum £25,000
  • Fair Maintainable Trade* (FMT) Turnover: £650,000 per annum

Full Investment Breakdown †

  • Deposit: £7,500
  • Training Fee: £1,000 plus VAT
  • Working Capital: £10,000
  • Fixtures & Fittings: £50,000 (Inventory is an estimate net of VAT. Loan facilities are available for the purchase of fixtures and fittings).

Additional Information

  • Estimated Wet/Dry Split: 40%/60%
  • Business Rates: Nil payable until April 2021
  • Available From: 01/01/2021
  • Closing Date: 31/12/2020
  • Last 3 year Volume
  • Beer & Cider - Barrels
  • Wines - Litres
  • Spirits - Litres
  • Soft Drinks - Litres
  • Current Year*
  • 166
  • 2870
  • 100
  • 2870
  • Last Year
  • 160
  • 3010
  • 90
  • 3130
  • 2 Years Previous
  • 165
  • 2810
  • 110
  • 3150

Trade
Asset 2

The Harbour is a well known pub in the area, which enjoys good year-round trade and appeals to all types of clientele. The position of the pub on the estuary of the River Ax, with a busy campsite adjoining, gives a significant uplift in the summer and at other times of the year during good weather. Trade is evenly split between food and drink.

*Trade volumes are up until February 2020, and do not include the Covid-19 lockdown period.


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 Business Development Partner 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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