Church St - Hospitality FOR SALE


Sidmouth, DEV EX10 9QP
$995,000 USD
014-044-5885
Church St, Sidmouth, DEV for Sale
$995,000 USD
Hospitality - FOR SALE
1/10
null | Request Cap Rate

Church St
Sidmouth, DEV EX10 9QP


HIGHLIGHTS

  • Edge of Sidmouth
  • Accessible location
  • Parking for 20 cars

OVERVIEW

Owned and operated by the sellers for 24 years the Salty Monk is now available only as a result of the vendors decision to retire. They have won numerous accolades for the quality of their hospitality and cuisine with the the property configured in a manner which would allow some flexibility. The building has held 5 AA gold stars throughout its tenure putting it in the top 10% of guest providers and was awarded Best Bed & Breakfast in England with Visit England. The property would suit those wishing to run an upmarket B&B, restaurant with rooms, tearoom with B&B etc, or as a large family home with an income and workbase. Believed to be of 16th Century origin the building is not listed and sits in a plot of approx. 0.441acre. The property has delightful lawned gardens, trade patio and gravelled car parking for 20 cars. Constructed in the main of rendered colour washed elevations to a series of pitched slate roofs, the interiors are briefly described as follows; Reception hallway leads into the main restaurant, itself divided into multiple areas which can accommodate a total of 40 covers. The interiors blend contemporary touches with the traditional character of the building. The ground floor could be re-configured to provide additional letting bedrooms subject to the necessary consents. A well-equipped commercial catering kitchen with separate prep and wash up areas, as well as extensive cold and dry stores. Laundry and rear storage areas/sheds in a walled yard. Formerly the vendors lived off site but are now occupying a stunning wooden studio with eco roof situated within the grounds of the property. A substantial property in its own right that was formerly used as a yoga Studio, Gym, with its own Bathroom with walk in Power shower and Treatment room used for massage therapy & beauty treatments. This building also includes two well disguised garages as well as a storeroom/office, electric and internet installed. There is a parking area for up to 20 cars, with 1 electric car charging point. Extending to 0.44 acres (0.18 ha) in total the grounds are very gently sloping with numerous useful timber outbuildings/garaging, wonderfully landscaped south facing gardens, plus a rear entrance to a small courtyard giving easy access into the kitchen/stores. Please note some of the grounds are in a flood risk area. Since environmental agency upgrades this risk has been alleviated, details on request. Our clients trading profit and loss accounts to the year ended 31st March 2022 show total net sales of C. £300k were achieved and a net profits of C.£162k was achieved. 2023 sales dropped to £181k with net profits of £77k due to extended holidays and part-time opening. The restaurant is currently opening under limited hours and run as a lifestyle choice business

FOR SALE DETAILS

PRICE

$995,000 USD

PRICE/SF

$243 USD /SF

# OF ROOMS

7

PRICE/ROOM

$142,143 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Salty Monk

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1900

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

C

APN/PARCEL ID

DN180337

ASK ABOUT THIS PROPERTY

Kevin ClarkeStagsMore Info
014-044-5885

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Kevin ClarkeStagsMore Info
014-044-5885

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