Traditional town centre pub sold to local businessman
Having previously traded as a traditional town centre pub, The North Country Inn in Barnstaple has recently been sold by licensed property specialists Stonesmith of Exeter on behalf of Enterprise Inns plc.
The property has been bought by experienced restauranteur and businessman James Li of Fu-Tze Ltd who is well known in the North Devon area as he owns and operates the Fullam Restaurant in Barnstaple and the Tiandi Restaurant in Bude.
James plans to lovingly restore the Grade II Listed building whilst conserving and highlight many of the original features. This work will take around 6 months to a year to complete and the property will then re-open with lounge and cocktail bars and a restaurant, all with an Asian influence. It will have a modern and contemporary design with a mix of character features.
The North Country Inn is situated in the centre of Barnstaple close to the Green Lanes shopping Centre and various local and national businesses. The property dates from 18th Century and briefly comprises open plan trade areas on the ground floor, a first floor restaurant and dining area and living accommodation on the upper floors. Outside there is an enclosed courtyard to the rear.
Mike Phillips of Stonesmith who handled the sale commented “This sale demonstrates that there is still a strong appetite from purchasers who wish to acquire suitable properties in the licensed sector. Our high profile marketing campaign generated significant interest for this high profile town centre opportunity.”
A freehold property Stonesmith sold The North Country Inn off an asking price of £165,000 plus VAT.