Approached along an impressive gravel driveway, Prince Hall Hotel is a charming property occupying a south facing position and is one of the few remaining locations that offer a real escape from the noise and pressure of busy lives. Prince Hall is a small and easily managed country hotel that combines quiet intimacy with the warmth and informality of a family home. Such is its appeal, guests and non-residents return regularly for this undisturbed peace and relaxed atmosphere, whilst for the owners, it affords a delightful way of life with highly profitable rewards. Dartmoor National Park provides the largest area of unspoilt wilderness in the southern half of England. The highest granite tors extend to over 2000ft whilst pretty hamlets and villages can be found in the valleys and moorland. This unique environment supports an abundance of wildlife and activities include walking, horse riding, shooting and fishing. Prince Hall is close to the centre, yet is only a short drive to Tavistock, Ashburton, Chagford and the golf course at Moretonhampstead. The cities of Plymouth and Exeter are about 30 minutes away and the beaches on the south Devon coast are only a 45 minute drive, so it is not surprising that the unique location of Prince Hall enjoys a much longer than average season. Trading as a hotel as long ago as 1906, it was a private residence for much of the 20th century when it was the home of Lord & Lady Astor. When our clients purchased it 8 years ago, it was a wellestablished hotel once again. However, they have refurbished and reorganised the style of the operation into the far more relaxed and informal atmosphere. The bar/bistro and lounge were relocated and restaurant and bedrooms refurnished. The kitchen has also been updated to accommodate the increased restaurant trade. The level lawned gardens would be ideal for a wedding marquee, and the outbuildings offer endless possibilities for those wishing to expand the business. This, therefore, is a rarely available opportunity to acquire a highly profitable business, of a manageable size that also offers a wonderful way of life for the owners.
The detached Grade 2 Listed property dates from 1787 and is constructed of stone with rendered and painted elevations under a slate roof. Arranged over three floors, there are 2 stone barns in the courtyard and the plot extends to approx. 5 acres in all (unmeasured). Our clients have secured a Duchy Leasehold tenancy of a 4-bedroom house with a 2-acre paddock on the approach driveway to the hotel at 655 per month. New owners wishing to take over Prince Hall may wish to consider this opportunity by way of a separate negotiation with the Duchy. A wide porch opens into the welcoming hall with wide staircase and public rooms leading off. Reception desk with Office. The Bar Bistro has both comfortable seating and bar tables and chairs with lovely views from the windows and door opening into the garden. The Lounge has comfortable seating around a cosy open fireplace, whilst the Restaurant has an understated ambience of relaxed elegance looking out over open moorland. There are 9 individually decorated letting bedrooms, although they only choose to let 8. All are either double or twin and all have ensuite facilities (3 with bath and hand held shower, 1 with shower, 4 with bath and shower over). The ninth room is a single currently used as staff accommodation. All the rooms have central heating, television and refreshment trays. The hotel stands in approx. 5 acres (unmeasured) of easily maintained grounds. The drive leads to a good size parking area and there is a courtyard with further parking to the rear of the hotel. A stone building is currently used for storage and garage for the tractor. Log store and stable leading to a large kitchen garden with 3 greenhouses, supplying produce throughout the year to the restaurant. There is also a large stone barn which could be developed into self-catering units or conference/recreational rooms, subject to consent, and previously had planning permission to turn into owners accommodation. Well-appointed commercial kitchen with wash up stills room, dry goods stores, utility room with laundry. Wine store and office.
Mains electricity, private water supply and private drainage. Oil fired central heating and bulk propane gas for cooking and hot water. The hotel holds a Premises Licence An abridged trading and profit and loss account for the year ending 31st March 2015 shows turnover 467,687 net of VAT on which there was an adjusted profit of 65,611. The owner s son is currently employed and paid 25,000pa but will leave upon completion of the sale. This thereby increases the overall adjusted profit to in excess of 90,000 for new working owners. Prince Hall is a dog friendly hotel and many of its repeat customers have dogs, whilst the restaurant equates to around half of its overall turnover. www.princehall.co.uk The property is held on a 99 year Full Repairing and Insuring Duchy of Cornwall Lease from 25th March 1936. There are therefore approx. 19 years remaining. The current rent is 12.05 pa and is fixed for the remainder of the term. In addition, as the property is used as a business, there is a Commercial Licence of 6000 payable pa.
Offers in excess of 595,000 for the leasehold property complete with goodwill, trade inventory and stock at valuation. All viewings must be arranged through the selling agents. We recommend contacting Walbrook Commercial Finance - independent specialists in raising finance for hotel acquisitions for over 25 years on 01892 512800.
Tavistock 10 miles, Ashburton 10 giving access to the A38 which connects with the M5 at Exeter 30, Plymouth 18, Newton Abbot mainline rail link to Paddington 16, Bristol 110 and London 220. From the M5 at Exeter continue towards Plymouth on the A38 and turn off at the signpost Two Bridges and Princetown. This road meanders up onto Dartmoor and the hotel is very well signposted on the B3357 after approximately 10 miles. The hotel will be found about half a mile down this driveway. S1105 Ravensworth 01670 713330