The Lydstep Tavern, a free-of-tie village inn, has been sold through licensed property specialist, Sidney Phillips.
Situated in the popular village of Lydstep close to Tenby in Pembrokshire, within the Pembrokeshire Coast National Park, an area with considerable tourist appeal, the village commands views of the Monastery Island of Caldy. The area is a mecca for camping and caravan enthusiasts with numerous holiday homes in the area. Two of the best-known holiday parks in Pembrokeshire are the Lydstep Beach Holiday Park and the Celtic Haven Cottage complex both of which are within easy walking distance of the Lydstep Tavern.
This cottage style property is understood to have been built by Viscount St David around 1830, and holds an excellent location at the centre of the village. The business is well established within the area and offers an excellent level of trade and profitability based on only seven months trade. Since our clients purchased the business in 2010 they have embarked upon a sympathetic scheme of refurbishment and decoration, and the building should require little major investment for some time.
The Leasehold interest in the property has been sold to an experienced local operator, who intends to increase the number of months the business is operated which will, in due course, increase turnover and profitability.
Sidney Phillips brokered a new fully repairing and insuring lease agreement for a term of 10 years off an ingoing premium of £60,000, and an asking rent of £40,000 per annum.