Whilst there are lots of opportunities to enter the hospitality sector, either by direct employment, or by way of tenancy or lease, there are many who still look to own and run their own venue in the South West and take direct control of their business and lifestyle.
This month we take a look at hospitality businesses for sale and what is available in the mid market (£500k to £1m) and specifically three trading concerns that are priced at and around £750,000.
The first is a pillar in the dining world and holder of a Michelin Star and many other culinary accolades; The Masons Arms at Knowstone in Devon. On the business side, there have been 19 successful years ownership for the current owners, Mark and Sarah Dodson, who moved West after successful careers in the London and the Home Counties in order to work for themselves and to bring up their young family. It is a chocolate box venue, profitable and provides for bar, restaurant and smart owner’s accommodation – all within a charming village on the fringes of Exmoor. New owners can take the reins of an established business, which has considerable goodwill and tweak the success further with new ideas and promotions.
Heading from the edge of Exmoor to the Western fringes of Dartmoor is the Drake Manor Inn at Buckland Monachorum, which has gone to the open market after 34 years under one operator. Similar in terms of an established reputation, but more traditional in it’s trading offer, The Drake Manor is a stalwart village inn, with great support from its local patrons and for the (many) visitors to the area who come to see Buckland Abbey, once home to Sir Francis Drake or one of the finest gardens in Britain – The Garden House on the edge of the village. In this instance, the sales are more bar-led and rather than owner accommodation there is a smart 2 bedroom letting apartment for additional income (or it can be turned back to the three bedroom owner accommodation. Very similar in terms of turnover and profits to the Masons Arms and both originally built for the same purpose – to house the Masons building the adjoining churches.
Jumping much further West now and Newlyn, known for the busy fishing harbour and its artist community. Something different again with The Meadery, which has been within the same family since they purchased what was then a closed cinema and transformed it to a wine bar and medieval-themed feasting hall in the 1960’s. At heart a restaurant with a simple but consistent food offer predicated by feasting and fun, the business welcomes back generations of customers who enjoy the convivial surroundings and are willing to queue down the street to wait for their chance to dine.
Again, a similar price, but a completely different offer, with high volume food and drink, but simpler menu and operation.
To explore hospitality businesses for sale in the South West, please talk to Michael Easton or look at our properties for sale or to lease.
