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Queens hotel, Lynton

Lynton, EX35 6AA

Your investment

£11,000

Agreement Type

Tenancy
  • Fantastic location
  • Only available due to licensee retirement
  • Opportunity to drive food sales

The Queens Hotel is a deceptively large pub in the very heart of the North Devon costal town of Lynton. When viewing the pub you cannot help but be impressed by the quaintness, size and layout of the pub lending itself to many styles of dining, entertainment, pub sports and enjoying the company of friends. This idyllic coastal town sits high on the dramatic North Devon coastline within Exmoor National Park. Sitting 17 miles northeast of Barnstaple and 18 miles west of Minehead. The area is also know for the Lynton & Lynmouth Cliff Railway which is the highest and steepest water-powered railway in the world!

Pub Layout

Upon entering the main entrance at the front of the pub, you will find the first trading area of comfortable tables and chairs along with a fire place and fully stocked bar. Into the next trading room, there is a further fully stocked bar servery along with a TV, pool table and darts board and further seating. To the rear you pass the ladies and gents toilets and access to the fully fitted trade kitchen. This short corridor takes you out to the rear courtyard garden laid with patio slabs and astroturf. There are a number of traditional pub benches and a gate that takes you to a large council owned carpark where customers can park to use the pub at a reasonable local charge.

The pub trades mainly as a wet operation at the moment with huge scope to further develop the food offer. The pub is well supported by the locals along with the vast tourists who visit all year round. The summer months are particularly busy in the town and the trade increases significantly at that time. The bars are fully stocked with lagers, ciders and real ale. There is a wide range of spirits and soft drinks along with hot drinks.

Food is currently served from 1-5pm which light lunches on offer. As the trade kitchen is fully equipped, we would expect this part of the business to be fully exploited to offer lunchtime and evening meals of a good quality.

Private Accommodation

The private accommodation is very large, providing six bedrooms, a large bathroom, one bedroom en-suite. There is also a living room and a domestic kitchen.

Annual Rent: TBC

Security Deposit: £5,000

Working Capital: £3,000

Stock: £3,000

Fixtures and Fittings: To be confirmed upon valuation –  funding options may be available for the right licensee.

Tie: All drinks categories are tied.  For fully funded licensees on long term agreements, we offer free-of-tie options for certain drinks categories in exchange for an annual fee.

Training: £325 plus VAT

For a breakdown on financial information, please refer to the ‘Additional Info’ tab.

I am looking for a licensee for the Queens Hotel, who will work hard to maintain the already strong links with the local community, continue and develop the weekly rhythm and associated events as well as using new and innovative ways to drive additional footfall and put the pub at the heart of the community. The new licensee would also follow and adopt new market trends to develop on the current drink offer throughout the year and exploit all the opportunities and facilities the pub has to offer and maximise on the opportunities the summer months offer. Food will play a big part of the trade and ideally, we are looking for an operator with passion and flair to create a quality food offering as well as driving wet sales to its full potential.

Annual Rent – This is our lowest rent figure associated with a Full Tie.  If the tie is reduced the effective rent (via Tie Release Fees) will increase.  Rent is billed and paid for weekly in advance depending on the payment terms agreed). On occasion, our Business Development Manager will discuss a start up rent which is discretionary to an individual pub and can be discussed.

Security Deposit – This sum of money will be held on your account and will be returned to you on exiting of the pub based on your final account balance and the condition of the property.  Our standard deposit is 25% of the headline rent.  On occasion, we can negotiate a lower security deposit with the aim to build up to our full deposit on a long term agreement.

Working Capital – This is a recommend amount required which will be used in the day-to-day running of the business.

Stock – This will be valued by an independent valuer on the day you take over the pub. This includes unbranded glassware, unopened bottles, wines, spirits, any unopened / opened kegs and cask ale providing the container is unopened.

Fixtures & Fittings – This includes any item that is bolted to the floor or walls, and a fitting to be any item that is free standing or hung by a nail or hook. This will also include furniture.

Tie: All drinks categories are tied.  For fully funded licensees on long term agreements, we offer free-of-tie options for certain drinks categories in exchange for an annual fee.

Training – Before signing a long term agreement, you will be required to attend our 7 Steps to Sales Success training programme.  Held online over three days, you will learn marketing and business strategies that will help you to grow sales in your pub – step-by-step.

Service Charge Cost – £60.89 per week – The Admiral Taverns Premium Maintenance Package will help take care of your compliance and statutory obligations with one simple fee, whilst giving you piece of mind about your boiler and cellar cooling repair and replacement.  This also includes full access to e-learning for you and your staff.

*Zero Business Rates – Based on the April 2023 rating list, the Nil Rates Payable is based on small business rates relief being applied and the licensee only occupying one property for commercial purposes.  Please note, this only applies to pubs marked with an Asterix *


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