The Wye Knot Inn, Symonds Yat, Herefordshire

The Wye Knot Inn is one of the better-known and popular inns in the Wye Valley, having the added advantage of being in Symonds Yat, the perennially popular tourist centre. The Inn is located in a prominent position, within one mile of the A40 dual carriageway which links the M5/M50 with the M4. It is ideally situated as a centre for touring, being on the English/Welsh Border, only a few minutes from Monmouth, Ross-on-Wye and The Forest of Dean. The Cities of Hereford, Bristol, Cardiff and Gloucester are all within 40 miles. The Wye Valley is an Area Of Outstanding Natural Beauty and attracts thousands of visitors each year.

The Property
This is an attractive three storey property standing in an elevated position with character trading areas, three en suite letting bedrooms, owners’ accommodation, car park and trade garden.

These premises are let on lease and are being sold as an investment with the tenant in situ. The lease expires in December 2027 but does enjoy the protection of the 1954 Landlord & Tenant Act, so the existing occupier may continue or assign to a third party. Vacant possession is not currently available.

This well-presented property is briefly described as follow:

Trade Areas
The MAIN BAR is an attractive room arranged on split levels with part boarded and part carpeted floor, and some tongue and groove panelled walls. A feature of the room is a centrally located cast iron solid fuel burner which stands on a stone plinth. Fully equipped BAR SERVERY.

RESTAURANT/FUNCTION ROOM with feature double door access onto front patio. Boarded floor and part tongue and groove panelled walls. Seating for up to 30.

CATERING KITCHEN arranged in three sections: the main catering area having quarry tiled floor, fully tiled walls, three section galvanised extraction canopy. WASH-UP/PREP ROOM adjacent with FREEZER/PREPARATION ROOM beyond. Small OFFICE.

ON-LEVEL BEER CELLAR with delivery access from the front of the premises. Off the inner hallway are a set of LADIES’ and GENTLEMEN’S TOILETS.

Owners’ Accommodation
Also located at first floor is the owners’ PRIVATE ACCOMMODATION comprising a good size DOMESTIC LOUNGE with boarded floor and part exposed stone walls, SHOWER ROOM with suite of wash hand basin, WC and shower. Galley style KITCHEN AREA.

At second floor is BEDROOM ONE: a DOUBLE with beamed ceiling, and BEDROOM TWO, a DOUBLE.

Letting Accommodation
Located at first floor are THREE EN SUITE LETTING BEDROOMS. Each bedroom is well presented with full bedroom suite, television and en suite facilities.

LETTING BEDROOM ONE, ‘Huntsman’: a double room with EN SUITE SHOWER ROOM. LETTING BEDROOM TWO, ‘The Doward’: a double with EN SUITE SHOWER ROOM. LETTING BEDROOM THREE, ‘Coppett’: a family room with double and single bed and EN SUITE SHOWER ROOM.

External
To the front is an enclosed PATIO AREA which has ‘A’ framed picnic style seats and able to cater for up to 30 or so customers seated. There is hardstanding CAR PARKING with space for up to 15 vehicles.

In addition, adjacent to the main entrance, is a covered smoking area with seating. There is also a service compound for storage of bins etc.
As these premises are let on lease, the freeholder does not have trading figures which are personal to the present operator. This is an investment sale and prospective purchasers must make their own assessment as to the underlying viability of the business and its ability to service the rent.
FREEHOLD £325,000 to include the landlords’ fixtures and fittings. The tenant owns the majority of the trade furniture and this is specifically excluded from the sale.

Overage
This property will be sold subject to an overage clause whereby the vendors and their successors shall be entitled to 25% of the uplift in value if planning permission is obtained for alternative use within the next 50 years.

Lease
The premises are let on a ten year full repairing and insuring lease which commenced on 20 December 2017 and is due to expire on 19 December 2027, subject to the statutory rights of renewal. The present rent is £36,629 per annum, paid monthly in arrears. Should the tenant renew or assign to a third party (who may elect to seek a continuation of the lease), the rent will be subject to review. A copy of the lease is available from the selling agents.

Under the terms of the Premises Licence the business is permitted to retail alcohol between the hours of:
Monday to Saturday: 10:00 - 23:00.
Sunday: 12:00 – 22:30.

Mains electricity, water and drainage are connected. Oil fired central heating. Bottled gas for cooking.

Rateable Value: £4,650 as at 01 April 2023 to present.

Local Authority: Herefordshire Council.

EPC Rating: D.