The Driftwood Inn (previously Galleon Inn) is situated in the village of Starcross, on the west shore of the Exe Estuary in Teignbridge in the English county of Devon. The village is popular in the summer with leisure craft and is home to one of the United Kingdom’s oldest sailing clubs. The pub is a large highly visible property located on the busy A379 coastal road from Exminster to Plymouth. It benefits from the many camp and caravan sites close by the day trippers driving out to the coast, passing tourists on route to the West Country and the important ferry, a small passenger ferry from Exmouth to Starcross, which runs from Easter to 31t October, 7 days a week.
The pub has a main bar with 20 covers, restaurant with 30 covers and a pool room. 6 letting rooms and a small but easily functional trade kitchen. There is parking for 12 cars and a small terrace to the rear of the property.
This site lends itself to owner operator.
2 bed flat with bathroom. Plus 2 bedrooms and shower. Toilet opposite the 2 bedrooms. Good size lounge and domestic kitchen
Guide Rent: £34,000.00
Initial Deposit: £0.00
Full Deposit: £8,500.00
Full Tie Release: £31,500.00
Agreement Fee: £775.00
Repair Fund: £2,500.00
Fixtures & Fittings: £15,000.00
Working Capital: £20,000.00
Stock & Glassware: £3,500.00
Cash Float: £1,500.00
Forecast Wet Turnover: £225,893.46
Forecast Dry Turnover: £101,118.69
Forecast Other Turnover: £75,908.88
Forecast Turnover: £402,921.03
Year 1 Rent: £0.00
The Driftwood Inn presents a fantastic opportunity to run a successful pub business in a beautiful part of Devon. The pub currently enjoys trade from the locals, walkers, day trippers and holiday makers, and the addition of six ensuite letting rooms makes the Galleon a multi-revenue business.
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Portman Finance Group includes Portman Asset Finance Limited (Reg No: 06226530) which is authorised and regulated by the Financial Conduct Authority for its credit broking activities and deals with a panel of lenders (FRN: 719988), Portman Leasing Limited (Reg No: 06797365) authorised and regulated by the Financial Conduct for Consumer Hire lending (FRN: 723730) and Portman Commercial Finance Limited (Reg
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MISREPRESENTATION ACT 1967
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