With normality returning to life as much as possible, leading southwest commercial property agents Charles Darrow has seen a continued upswing in transactions. As all corners of the Southwest continue to see investment come in, Lynmouth, on the North Devon coastline, has proven to be a popular property hotspot with the sale of two of the village’s iconic inns selling quickly, amid plenty of interest.
With 2021 demand outstripping supply across all sectors, the year has seen fast paced and positive movement, despite the restrictions. Appetite and sales have remained high as Devon continues to gather interest and investment. With many successful sales already completed, the double sale of these two iconic North Devon businesses highlights the level of leisure activity we’re currently experiencing.
The Rising Sun Hotel
With its central location overlooking the picturesque harbour, the award-winning Rising Sun is one of Lynmouth’s most recognisable properties. With its history and heritage, the 14th-century property has period features, including leaded windows, low, beamed ceilings, and wood-panelled walls, giving it an atmosphere full of character.
The ground floor consists of lounge bar, snug, and restaurant for 60+, all with stunning harbourside and sea views, plus a well-equipped commercial kitchen. Outside, there’s a private garden to the rear and picnic bench seating for customers at the front, all set in a wonderful position overlooking the harbour and out to sea.
Together with 10 elegantly modern en-suite letting bedrooms on the first floor, the Rising Sun is also linked to three letting properties. Comprising a 4-bedroom en-suite cottage with sun terrace and sea views, a 3-bedroom property, and a standalone, self-contained suite with private garden, the Rising Sun provides wonderful, year-round dining and accommodation in a very special place.
Rock House Hotel
On the other side of the West Lyn River, Rock House is another iconic venue, and one of Lynmouth’s most prestigious properties. Dating back to the 18th-century, this exceptional hotel has recently been refurbished to an impressively high standard, while still retaining many period features.
The Rock’s ground floor comprises a restaurant and breakfast room for 22, relaxing lounge bar for 25+, plus a quality commercial kitchen with ancillary storage. Externally, there’s picnic bench seating for 140+ customers with a wonderful outlook over the harbour and out to sea and surrounding woodland, plus a car park for eight vehicles.
The first floor is home to the Rock’s mix of eight sumptuously sophisticated single (1) and double (7) en-suite guest letting bedrooms with either sea or river views. There’s also a further double en-suite room with dual aspect views on the ground floor. All in all, the Rock House Hotel offers fine dining and excellent accommodation in an exceptional destination venue.
Guide price sales
Both sites hit the market with a real sense of ‘right time, right place’ and, as expected, they raised significant interest for potential buyers. Sold within days of going to market to independent family-owned brewer and pub company, Hall and Woodhouse, with Bettesworths acting for the buyer
On the sales, Charles Darrow Director, Jon Clyne said “Both properties are turnkey, highly rated, and exceptional businesses with robust sales figures that could have sold many times over. We’re pleased the sales went through so quickly and smoothly and they’re exactly the right style and type of inn and guest house accommodation for Hall and Woodhouse’s growing portfolio. Their sales highlight the current market strength – and the appetite – for new acquisitions happening in the southwest right now, with the sale of The Risings Sun & Rock House just a couple of notable transactions that we are expecting to complete before the year end.”
The properties were sold off a combined guide price of £2,475,000