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The Royal Oak, Lostwithiel, Cornwall, SOLD

The Royal Oak, Lostwithiel, Cornwall, SOLD - 23rd October 2014

Stunning Cornish Inn bought by experienced licensees and hoteliers

Locally renowned for its well kept ales and good food, The Royal Oak in Lostwithiel is a stunning character inn in a desirable location. It trades as a traditional freehouse with letting rooms and is a strong year round business. The Royal Oak has been sold in a confidential off market transaction by licensed property specialists Stonesmith of Exeter and the new owners are experienced licensees and hoteliers, Graham Tobias and Simon Elliott.

Graham and Simon have between them 27 years working in the hotel and hospitality industry, more recently managing pubs in central London. They have won awards for guest services and with all this experience decided it was time for their own venture. Having identified Cornwall and the area as an important factor, they saw The Royal Oak on Stonesmith’s website. Apart from the location they also wanted letting rooms, so The Royal Oak was perfect.

Since acquiring the inn they have mainly concentrated on the catering, as the property was in good condition throughout and, apart from a little restyling, they have had little to do. The focus on the kitchen has included purchasing more equipment and introducing a menu based on traditional English pub food. Graham is the chef in the partnership and is ensuring the food is home made and freshly prepared, with dishes such as home made pies and toad in the hole already becoming popular. More details can all be found on their website http://royaloakcornwall.com

Graham and Simon have been delighted with the welcome from the local community and their aim is to drive the business forward and to continue developing all aspects of the business.

The Royal Oak is an exceptional Cornish inn situated in the centre of the historic town of Lostwithiel, originally a port and the capital of Cornwall. It is a sought after area with a year round tourist trade, benefiting from a main rail line to London Paddington as well as the Eden Project and National Trust Lanhydrock Estate being close by.

A deceptively spacious property, The Royal Oak has been upgraded and modernised within the last 4 years, though it still retains its original charm and character with flagstone floors, open fireplaces and beamed ceilings. The accommodation briefly provides a tap bar for 34 plus, lounge bar and restaurant areas for 66, a catering kitchen, 6 quality en-suite letting rooms and an adjoining owners cottage with 2 bedrooms a lounge, kitchen and bathroom. Externally there is a trade terrace for 12 and a beer garden with picnic style benches for 48. To the side of the property a customer car park with approx 17 spaces.

Mike Phillips, director of selling agents Stonesmith who handled the sale commented “We were approached by Vicky and Peter Crossingham who wanted to confidentially sell their leasehold interest in the Royal Oak. A sale was agreed within a month of the pub coming to the market and we wish Peter and Vicky and Graham and Simon all the best with their respective future plans”.

The Royal Oak was sold confidentially by Stonesmith as a Free of Tie lease, off a guide price of £59,950. Details of properties for sale can be obtained on the Stonesmith web site www.stonesmith.co.uk viewings can be arrange by calling the office on 01392 201262

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Thanks for all your hard work and persistence in seeing the sale through to completion

Brian Oury - for The Swan Inn, Merriott