Historic pub for sale with special stipulation

Tue, 13 Sep 2016 | BUSINESS SALE

An historic pub has been put up for sale with the stipulation that the new owners continue to run it as a pub and do not try to convert it into anything else.

The Church House Inn in Holne, south Devon, is a Grade II listed building on the edge of Dartmoor. The pub, which is believed to date from the 14th Century, is owned by a church charity which says the new owners must operate it as a pub.

The charity, which supports the Church of St Mary the Virgin in the village and has used rental receipts from the pub for its work, is now selling a 99-year lease of the property.

Matt Bettesworth of estate agents Bettesworths, told the Plymouth Herald: "It's a unique opportunity.

"The charity that owns it is keen to protect it as a pub, they don't want it changed into housing. It's refreshing that someone cares about keeping it going as a pub, rather than just taking the money and going."

The charity has owned the pub for centuries and is keen that it remains as a pub for the benefit of the community. It is looking for a minimum of £350,000 for the 99-year lease, and requires a £1-a-year peppercorn rent. This type of business sale can usually be bought via an ordinary business mortgage, according to the estate agents, and is known as an “effective freehold”.

It was once common practice for churches to own pubs but many of them have now been sold off.

Mr Bettesworth said: "It could have letting rooms too, but has to remain a pub. We are expecting plenty of interest in this one-off opportunity."

You can browse leisure businesses for sale here.


Share this article



Latest Businesses for Sale

Restaurant
South Glamorgan, Wales, UK

Beautifully presented restaurant in Cardiff. Affluent trading area. Run under management. Stunning premises, beautifully presented throughout. Offers invited.

Asking Price: £230,000
Turnover: £650,000

Dental Surgery
Derbyshire, UK Wide

Peak District/Stockport Postcode Area. Very well-established Private Family Dental Practice. Excellent high street location and with good transport links. Offers invited.

Asking Price: £870,000
Turnover: £636,000

LEASEHOLD


Mediterranean Bar & Restaurant
Darwen, Lancashire, North West, UK

Prominent Town centre location. Imposing detached property. Newly refurbished in 2015. Customer seating for 110. High end fixtures and fittings. Offers invited.

Asking Price: £550,000
Turnover: £520,000


View more businesses for sale

News Search

Latest News

 
03
 
Jun
 

28 Oddbins stores saved after acquisition by unnamed buyer | BUSINESS SALE

28 Oddbins stores will remain open after the off-licence ret...

 
02
 
Jun
 

Topps Tiles agrees sale and leaseback of HQ and warehouses | COMMERCIAL PROPERTY

Tile retailer Topps Tiles has agreed the £18.1 million...

 
01
 
Jun
 

Aldo UK falls into administration | ADMINISTRATION

Footwear retailer Aldo UK has entered into administration du...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources