Experienced caterers Dennis Frere-Smith and Debbie Bilton from Milton Keynes have bought the leasehold on the Avon Inn, a food-led pub in Avonwick, South Devon.
Food accounts for 75% of the freehouse’s turnover (which totalled £184,950 ex-VAT in the year to 31 March 2008) and it recently gained entry in to the Michelin food and pub guides.
The period property on the busy B3210 near Totnes offers a bar, a 40-seat restaurant and a first-floor function room for up to 30 delegates. There is also four-bedroom, three-bathroom accommodation for the owners.
The extensive grounds include a large beer garden, several picnic benches, a children’s play area, a 40-bay car park, and a paddock used to raise free-range chickens and turkeys.
Selling agent Bettesworths sold the 21-year, free-of-tie leasehold (from 2002) off an asking price of £99,950, with annual rent of £20,000.
By Angela Frewin