THE iconic Smugglers Inn at Holcombe, Dawlish, has been sold off a guide price of £200,000 for the leasehold interest.
Charles Darrow, the commercial property agent has just announced the successful confidential sale of the establishment, which has been under the same ownership for 22 years.
The Smugglers Inn is an iconic public house on Teignmouth Road.
Having achieved a loyal following with many years of successful trading, the Smugglers Inn is well known for its carvery offering, with booking well advised via a fully integrated website, which very much aided the running of the business.
With much investment in the property and now presented in good order throughout, the Smugglers Inn comprises main bar (36+), family room (48) and carvery restaurant (72+).
The extensive ancillary areas including a large well-equipped kitchen and a basement cellar while externally, the heated and covered gazebo / pergola with seats for circa 46, adjacent to the large car park with spaces for 50+.
The unique property has uninterrupted countryside and sea views, and the four-bedroom owner's accommodation provides comfortable living quarters for the new owner. The Smugglers Inn achieved a net turnover of £1.5m for the last financial year, with high net profits, making it an exceptional business opportunity.
A spokesperson for Charles Darrow said: 'After many successful years, the sale of the Smugglers Inn is a genuine retirement sale for the previous owners and after a successful confidential sales process led by Charles Darrow, numerous offers were received, with a buyer found who is committed to continuing the legacy of this historic establishment.'
Jon Clyne, director at Charles Darrow, said: 'We are thrilled to have facilitated the sale of the Smugglers Inn, which has been central to the local community for many years. We wish the new owner every success and look forward to seeing the Smugglers Inn thrive under their management.'
The former owner, Nick Stentiford, said: 'It was a head and heart decision for our family to sell the Smugglers, and I wish the new purchaser every success, they have given us confidence that they will protect the identity of the business moving forwards and we are thrilled to hand over the reigns to such a popular, local operator, we want to thank everyone who has been part of our success over the years, particularly our loyal staff and customers.
'We will be living locally so look forward to seeing you all on the other side of the bar.'
Purchaser Christopher Billing, from South Devon Hospitality Limited, who own several high profile sites including On The Waterfront at Exeter Quay, said: 'The Smuggler’s Inn is a well-established part of the community and has been run by Nick and his team fantastically for the last 20+ years.
'We plan to help take The Smuggler’s to the next level with a gradual updating of the food and drinks offering and updating the décor over the next couple of years and planning lots of events the community can get involved in, but we will not be reinventing the wheel of an already very successful business.'
Charles Darrow adds: 'The sale of the Smugglers Inn is a testament to the resilience of the commercial property market and, the enduring appeal of established businesses in sought-after locations.'