Landmark pub in Devon up for grabs

2nd November 2009, 3:01pm

The famous Thatched Tavern at Maidencombe, Devon, is up for sale with the benefit of a new lease by Matt Bettesworth of Bettesworths Torquay acting on the instructions of Dorset based, Hall & Woodhouse Ltd.

The tavern has been refurbished and features a main bar area with 30 covers plus the garden restaurant with a further 64 covers.

Matt Bettesworth commented:  "This is a rare opportunity to acquire one of the few remaining landmark pubs in South Devon."

The establishment has been trading as a managed house, but Hall and Woodhouse have decided to offer the business for sale on a leasehold basis with the benefit of a new 13 year full lease at an annual rent of £40,000. 

The lease will be tied for beers, but not for wines and spirits.  Under management, the turnover has been in the region of £300,000 to £350,000 pa excluding VAT. However in past years, the turnover has been almost double this figure.

Bettesworths, acting as sole agents for Hall and Woodhouse, are asking £50,000 to include the new lease, the substantial trade inventory and the goodwill. 

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