The Cable Station Inn enjoys a beautiful valley situation within Porthcurno, a coastal hamlet approximately 3 miles east of Land’s End and approximately 8 miles south west of Penzance.
The village is extremely popular with locals with its numbers swelling in the season, given its access to some of the finest sandy beaches in the county, ample parking and the nearby internationally acclaimed open-air Minack Theatre which was built into the cliffs, producing one of the most spectacular theatre locations anywhere in the World. The area around Porthcurno also has a high volume of self-catering cottages and camp sites, from whom the Cable Station Inn acquire a high level of business.
The Cable Station Inn was the former social club for the Cable & Wireless students who travelled from all over the World to study in one of the country’s foremost training establishments, which happens to be located in Porthcurno, given its geographic location in relation to sending signals across to the U.S. Mainland.
Essentially, the business comprises 3 large rooms, the first being the main bar and restaurant area, with up to 60 covers, leading through to a secondary dining area, comprising a further 30 covers, with steps down to the large double-height function room; which provides an extremely large room for weddings/parties etc., and also doubles up as a rehearsal room for visiting players to the Minack Theatre.
Our clients have owned the Cable Station Inn for the past circa 20 years, which is now being sold due to impending retirement. By our clients’ choice the business principally trades on a seasonal (April through to October) basis, with some limited opening during the off season, with the license hours from 11am until 2am. Further information regarding our clients business can be seen on their website www.cablestationinn.co.uk
We are advised the trade split is approximately 50%/50% wet and dry, with a turnover for the year end October 2017 of £156,181 which produces a gross profit level of 62% and an adjusted net profit of £33,903 (after deducting all normal overheads and wages of circa £46,000 per annum, (which it is considered could be reduced with two owner operators).
The Accommodation Comprises
(All areas and dimensions are approximate).
With slide opening door, giving access to:-
With space for promotional literature and telephone, door to:-
13.95m x 9.42m (max). A large and impressive bar area with ample standing and sitting space around the built-in wooden bar/servery, several built-in upholstered seating booths and free-standing tables, in all providing up to circa 60 covers. Space for Pool table. Seating area with multi-fuel stove. Through to:-
Second Dining Area
7.33m x 6.68m. With a wooden floor and tables and chairs for approximately 30 covers, fire door to rear elevation, overlooking second outside seating area.
From main bar and second dining area, steps down to:-
15.74m x 10.61m. (max). An impressive double height room, with wooden floor and windows to the front elevation, capable of servicing circa 100 covers. Access to two large storage areas and Ladies & Gents WC’s. Doors to:-
Outside Bar Area
From the Functions Room steps leading up to:-
5.21m x 2.42m. (With Velux window).
Behind main bar, through to:-
8.06m (including cellar dimension) x 4.39m. A well-equipped commercial kitchen, comprising a 6-ring gas burner, with oven below, stainless steel extraction hood. The kitchen has defined preparation/wash-up areas. Through to:-
5.91m x 2.38m. With large upright fridge and separate freezer, door to rear elevation allowing for deliveries.
Leading from the Function Room access to a beer garden, which comprises a large decked area with ample space for tables and chairs and views down the valley towards the sea. Beyond the car park is a service area and customer/owners’ parking.
6.3m x 2.7m. With power and light connected.
Tenure: Freehold / Leasehold
The remainder of a 999 year Lease from The Telegraph Company (985 years remaining, making this a virtual Freehold).
In discussion with our clients we understand that given the footprint of the Cable Station Inn there is potential to extend into the sizable loft to create other letting rooms or owners accommodation (should the Coach House not suffice) and also to the left of the property as one looks at the front, there is an area which is used for general storage, which we understand would potentially be suitable for car parking for up to circa 20 vehicles, subject to clearing etc, which would be a major boon for the Cable Station Inn.
Option To Buy Cottage
Adjacent to the Cable Station Inn is a detached 2 Bedroom Cottage (on a separate title deed), currently utilised as a holiday let but which has full residential use. The clients would consider an offer for the whole.
Inventory & Stock
An Inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied by Miller Commercial prior to exchange of Contracts.
Stock to be taken at valuation
We understand the business currently holds a relevant Premises Licence in respect of sale of intoxicating liquor on and off the premises.
The Energy Performance Asset Rating is C66
LOCAL AUTHORITY: Cornwall Council
General Enquiries 0300-1234-100 Planning 0300-1234-151 www.cornwall.gov.uk
BUSINESS RATES: We refer you to the valuation office website www.voa.gov.uk or call 0300-1234-171
SERVICES: Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: 0845 601 2989 South West Water: 0800 169 1144 Transco: 0800 111 999
VALUE ADDED TAX: All the above prices/rentals are quoted exclusive of VAT, where applicable.
If you require advice regarding the Financing of a Business, at no initial cost, please contact us on the numbers below.
For further information or an appointment to view please contact :-
Graham Timmins on 01872 247019 or via email firstname.lastname@example.org
or Paul Collins on 01872 247029 or via email email@example.com
AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [c] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.
Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39.