Listed for £650,000
April 24, 2025
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FIRST FLOOR former RESTAURANT to seat approximately 40 customers with its own separate staircase from the ground floor former restaurant. This room has an impressive, vaulted ceiling with exposed stone and brick walls and wooden floorboards.
FIRST FLOOR ACCOMMODATION
The accommodation is located on the first floor and consists of two DOUBLE BEDROOMS with EN SUITE SHOWER ROOMS and one DOUBLE BEDROOM with EN SUITE BATHROOM. Two LINEN CUPBOARDS.
NB: The bedrooms were formerly used as letting rooms, but could be used as owners accommodation.
EXTERNAL
Mature GARDEN with landscaped COURTYARD and stoned area to seat a handful of guests. Gravel CAR PARK for up to 10 vehicles; in addition, free parking is available throughout the village. Outside sheltered area utilised for storage.
THE BUSINESS
New Farm Restaurant was an award-winning business and has regularly been featured in the Taste of the West Awards for Southwest England. In the aftermath of Covid-19, our clients began operating the business for 3 days per week on Fridays, Saturdays and Sundays. Prior to COVID 19, the business was open on Tuesdays - Sundays each week.
The charming letting rooms furnished with country décor made up approximately 25% of the business's revenue, with relations of local residents staying at the premises as well as guests attending nearby weddings and tourists making their way down to Devon and Cornwall. Throughout the year, the letting rooms were utilised seven days per week and occupancy was at approximately 56%. Rooms rented out in the week from £85 - £95 and from £95 to £105 at the weekends. We understand from our clients that the annual net turnover was in the region of £150,000 and there is scope to improve this significantly by opening the restaurant for more days each week.
Further accounting information may be made available to serious parties following a formal viewing.
This former farmhouse turned award-winning restaurant has been in our clients' ownership for the last 31 years and has been within their family for the last 6 generations. To our knowledge, this property has never been placed on the open market and therefore presents a rare opportunity. There is a vast amount of scope to expand on the current business's trade and to create a unique country offering, opening for more hours each week. Alternatively it could suit a family home with its granted planning for change of use to residential. The business is now closed, but a new owner could look to re-open should they desire.
FURTHER INFORMATION & VIEWING
Further information can be downloaded from the estate agents, Sidney Phillips. For any additional enquiries, please contact the office by calling . No direct approach is to be made to the premises, please direct all communications through Sidney Phillips. VIEWING STRICTLY BY APPOINTMENT ONLY.