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Bickleigh Mill

Bickleigh, Nr Tiverton
Devon EX16 8RG

Guide Price: 1,250,000


Freehold interest to include fixtures,
fittings and goodwill
Ref: 3217027

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The Opportunity
At a Glance

Iconic West Country leisure & retail business


Stunning waterside location
Beautiful 18th Century working water mill
Set in approximately seven acres
Robust income streams

Growing online retail offering


Net income circa 950,000 per annum
Excellent profits with upside potential
Planning permission for on site
accommodation

Bickleigh Mill is one of the West Countrys finest leisure destinations offering an engaging out of town
retail experience and a popular caf / restaurant. The business is arranged in a stunning late18 th
Century water mill set in circa seven acres of land with its own waterways.
The business is strategically located off the M5 motorway and 11 miles to the north of Exeter. The
site itself has a unique heritage, with a mill located at Bickleigh being referred to in the Domesday
Book of 1086.
Bickleigh Mill has been owned and operated by the current owners since 2003, who are now looking
to sell the business to enable them to retire from the industry.
Whilst the business has seen consistent growth in recent years ,there remains exciting upside
potential for new owners. The flexibility of the property, the size of the site and its proximity to the
River Exe offers almost limitless opportunities for a new owner.
The availability of Bickleigh Mill offers a unique opportunity to acquire a historic and profitable leisure
business in the heart of the West Country.

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Location
Bickleigh Mill benefits from a stunning location alongside the River Exe in the Exe Valley on the main
road between Exeter and Tiverton.
This idyllic setting in the Devonshire countryside is only 10 miles from Junction 28 of the M5
motorway, four miles to the south of Tiverton and approximately 11 miles to the north of the
Cathedral city of Exeter with its 125,000 residents. Both Tiverton and Exeter have mainline railway
stations and the nearest international airport is only a short drive away in Exeter.
Bickleigh itself is a picturesque village with a 14th Century bridge and many thatched cottages. The
area is popular with tourists, with Bickleigh Castle, Killerton House and Yearlstone Vineyard all within
easy driving distance. The popular Devon Railway Centre is located next to Bickleigh Mill.

The Property
Bickleigh Mill is an attractive detached 18th Century property which has been sympathetically extended.
The Property predominately comprises attractive part rendered, stone elevations under pitched tiled
roofs. The property is arranged over three floors and divided into a number of open plan sales areas.
The centre of the building is split by the original mill workings which provide an intriguing backdrop to the
restaurant and craft centre.
The ground floor restaurant is set in the Old Mill House and is broadly split into two main areas with a total
of circa 80 - 90 covers with a food servery and commercial kitchen . There is an attractive outside terrace
with further seating for approximately 40 covers.
The retail areas are arranged on ground, first and second floors and comprise approximately 375 sq m of
floor space. Indicative floor plans can be made available on request.
Set in circa seven acres of land, Bickleigh Mill has a number of attractive waterways and walks. There are a
number of fishing ponds which could be used for trout or wild fishing.
Bickleigh Mill benefits from a large on site car park for circa 20 vehicles with an overflow parking facility in
an adjoining paddock.

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Business Details
Bickleigh Mill enjoys strong all year round trade. Its appeal as a destination retail business generates
significant income leading up to Christmas. The current owners trade Bickleigh Mill from 10:00
with the shop open until 19:30. The restaurant trades into the evenings and remains open to meet
client demand.
The licensed restaurant has a warm and traditional atmosphere and has a loyal and affluent local
lunchtime trade which creates good income all year round. It is popular throughout the day for
teas, coffees, snacks , lunches and offers dinner from Thursday to Saturday. Our clients run a
number of themed events in the restaurant which are extremely popular with local parties, such as
Taste of the Riviera and South American Night. The venue is also popular for Christmas parties and
private functions. Reports on Trip Advisor are very positive and the catering element of the
business accounts for approximately 50% of the income.
The shop offers a huge range of quality gifts, sourced locally and from around the world. There is a
separate childrens store in the Old Corn Loft and the wider offering includes jewellery and
accessories, kitchen and home ware and many other quality ranges. For a more detailed product
range, please go to www.bickleighmill.com .
As the current owners have developed the retail offering, they have created an online store under
the name www.notrunofthemill.com. This can be made available as part of the sale, or excluded,
subject to negotiation.
There are exciting opportunities to develop the business by the use of the extensive grounds.
Subject to the necessary consents, the Mill would make a lovely wedding venue and the use of the
River Exe could offer outward bound enthusiasts options.
The circa seven acre site also offers scope to develop glamping facilities, holiday cottages, crazy
golf or a number of other leisure facilities, subject to the necessary consents.

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Trading Information
We have been provided with profit and loss accounts for the past four years and set out headline
information below. Full accounting information can be made available to seriously interested
parties on request.

Year End January

2012

2013

2014

2015

2016

Turnover

817,874

841,108

853,396

886,590

945,318

Gross Profit

470,113

493,621

509,440

524,328

555,841

Staff Costs

262,201

265,215

260,622

276,516

272,529

EBITDA*

106,816

108,215

116,856

103,929

125,818

* To calculate the EBITDA we have included Directors remuneration, NIC, private healthcare, rent and
depreciation

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Staff
The current owners are involved on a full-time basis in the day to day running of Bickleigh Mill. There
is a full time retail and restaurant manager and a complement of other full time and part time staff.
A full staff list can be made available on request.

Fixtures & Fittings


We understand that all the fixtures and fittings are owned outright and will be transferred with the
business. Stock will be purchased separately, on completion.

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Planning Permission
Our clients have secured planning permission to create a two bedroom apartment to the rear of the
existing property. This accommodation would be ideal for a management team or owners wishing to
live on site. Further details can be made available on request.

Business Rates
Billing Authority: Mid Devon
Rateable Value: 26,791 (according to the VOA taking effect from 29th March 2016)

Services
We understand that the property benefits from mains water and electricity. Gas is via LPG
Tank and drainage via a septic tank.

Terms
We are instructed to invite offers based on 1,250,000 for the freehold interest in Bickleigh Mill to
include fixtures, fittings and goodwill.

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Site Plan
The below site plan has been provided for illustrative purposes and indicates a site area of
approximately seven acres

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Our Services
Finance and Insurance
Whether youre considering commercial property for the first time or are an experienced businessowner, it is important to understand your finance options.
Contact your local Christie Finance Consultant on
0344 412 4944 or visit: christiefinance.com
Christie Insurance can arrange the right insurance cover at the right price, backed up by our superb
claims support. For more information please call us on 0207 444 0040 or visit
christieinsurance.com

Valuation services
Christie & Co has the largest national team of Chartered Surveyors and Valuers dedicated to its
specialist markets, offering valuations, consultancy, rating, investment, rent reviews, lease
renewals, building surveying, planning and dispute resolution advice in all our sectors.

Viewing
Under no circumstances must any interested party approach the owners or staff direct. All
enquiries must be made through Christie & Co.
For further information and an appointment to view, please contact the following:

William Trott

Rob Kinsman, MRICS

Retail Agent

Regional Director

T: 01392 285 613

T: 01179 468 505

M: 07736 615 872

M: 07717 335 367

E: william.trott@christie.com

E: rob.kinsman@christie.com

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Details subject to the standard conditions of Christie & Co's particulars.
Copyright reserved Christie & Co

Confidentiality Statement
1

2.

The Client acknowledges it will receive from Christie & Co Confidential Information in respect of businesses for sale (Business).
In consideration of the Client receiving Confidential Information in respect of any Business the Client undertakes to respect and preserve the
confidentiality of the Confidential Information for a period of 5 years after the date of disclosure of the Confidential Information to the
Client.

3.

The Client further undertakes that it shall not:


a)

communicate directly or indirectly, or otherwise make available, the Confidential Information to any third party including without
limitation the employees and patients of the Business;

b)

persuade or attempt to persuade any employee of the Business to leave the Business or terminate their employment with the
Business;

c)

communicate directly or indirectly, with any employee of the Business in a manner calculated or likely to cause that employee to
leave or end his employment with the Business; and

d)

use the Confidential Information in a manner calculated or likely to cause any detrimental damage to the Business including
without limitation any reputational or financial damage.

4.

The Client may disclose the Confidential Information in the following circumstances:
a)

to its employees, officers, representatives or advisers who need to know such information for the purposes of assessing the
Business for a possible purchase. The Client shall procure that its employees, officers, representatives or advisers to whom it
discloses the Confidential Information comply with the undertakings provided in clauses 2 and 3 of this Confidentiality Statement;
and

b)

as may be required by law, a court of competent jurisdiction or any governmental or regulatory authority.

Client means the party who is registered as an applicant with Christie & Co and receives the Confidential Information.
Confidential Information: all confidential information (however recorded, preserved or disclosed) disclosed to the Client including but not
limited to:
a)

the fact that the Business is for sale and discussions and negotiations are taking place concerning such a sale;

b)

any information that would be regarded as confidential by a reasonable business person relating to:

c)

the business, affairs, patients or other customers or clients, employees, suppliers, plans, intentions, or market opportunities of the
Business; and

d)

the operations, processes, product information, know-how, designs, trade secrets of the Business; and

e)

any information or analysis derived from Confidential Information; but not including any information that is or becomes generally
available to the public other than as a result of disclosure by the Client or its employees, officers, representatives or advisers in
breach of this undertaking of confidentiality.

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Conditions of these particulars


Sales particulars are prepared as a general guide to the properties (which expression includes business and trade content, if any, included in the
sale) for the convenience of a prospective purchaser or tenant (an acquirer) and are intended for business people familiar with commercial
transactions. If you are not sure that you fit this description you should take relevant independent advice before proceeding further. The
information given is believed to be correct as at the date it was prepared but its accuracy is not guaranteed. All purchasers should make and rely on
their own enquiries and/or instruct an appropriate professional adviser. Prospective purchasers should be aware of and are recommended to use
independent sources of information about the trading of a business such as Companies House and also to seek quality independent advice prior to
committing to purchase. Christie & Co for themselves and for the vendors, owners or landlords of the properties (together the Client) whose
agents Christie & Co are, give notice that: (a) These particulars are made without responsibility on the part of Christie & Co or the Client; they do not
obviate the need to make appropriate searches, enquiries and inspections, nor do they constitute any part of an offer or contract, and statements
herein are not to be relied upon as statements or representations of fact; any acquirer must satisfy himself, by inspection or otherwise, as to their
correctness and any error, omission or mis-description therein shall not affect or annul the sale or be grounds for rescission or compensation; (b)
The Client does not make or give, and neither Christie & Co nor any of their employees has any authority to make or give, any representation or
warranty whatsoever in relation to the properties; (c) Christie & Co has not carried out a detailed surveys, nor tested the services, appliances and
specific fittings; (d) Dimensions (where given) are approximate and should be verified by an acquirer; and (e) Any accounts or financial statements
or registration information provided to an acquirer are provided on behalf of the Client by Christie & Co, who cannot therefore offer any guarantee
of their completeness or accuracy, and accordingly shall not be liable for any loss, damage, cost, expenses or other claims for compensation arising
from inaccuracies or omissions therein.

Subject to contract. Copyright reserved Christie & Co.

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