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Cornish Demand Strong
Jeremy Beeching of Scott Burridge Chick writes: “In 2007 we have noticed that, despite the recent increases in interest rates, we have had more enquiries from both nationals pubcos and private buyers than ever before. They are looking for freehold sites, in prominent locations, with growth potential in both Devon and Cornwall. We have long believed that many of the freeholds in West Country would be targeted by national firms as supply further up country begins to dry up and this has begun to bear fruit. Many of our instructions are undertaken on a confidential and off-market basis, so we are unable to divulge any details of vendors, purchasers or prices. However, we have recently scored success in both Devon and Cornwall to national companies. One of our current, confidential instructions is a freehold bar/restaurant in West Cornwall. It is in a lively coastal town location and offers 75+ covers with outstanding sea views. The freehold guide price is £1,000,000.
The profile of coastal locations has been high nationally with the continual coverage of our celebrity chefs: Rick Stein and Jamie Oliver.

These have recently been joined by the Masterchef, Jon Torodes, who is a key part of the group that bought, through Scott Burridge Commercial, the Seiners Arms. Perranport. We have noticed a steady growth in interest in coastal locals and sales are proceeding quickly as buyers bid to take over businesses prior to the key summer trading period. We sold, subject to contract (at time of writing), in six weeks, the Bassett Arms, Portreath. This is a popular ‘free of tie’ leasehold pub in a lovely coastal village. It offered an extensive bar area, 75+ cover restaurant, conservatory, owner 3-bed accommodation, garden area and car parking. New to our books is the Unicorn on Beach Road, Porthtowan. This is a stunning leasehold pub/restaurant opportunity immediately adjacent to the breathtaking Porthtowan beach. It offers a bar, conservatory and a sports bar. In addition, it has an extensive patio and outside seating area and a large car park. The owners 3-bedroom accommodation has its own garden.
We consider that the trend from both national pubcos and private buyers will continue through 2007 as the Cornwall’s’ profile continues to grow.”