Cornish haven up for grabs

A Cornish pub is up for sale with a significant development opportunity attached.

The Pack Horse Inn, in St Blazey, has been granted planning permission for a public house, restaurant and 25-room hotel. The proposed development will include a re-fit of the listed pub, as well as new buildings. The pub is half a mile away from the Eden Project and great interest is anticipated by agent Christie+Co.

Mark Doors, of St Mary's Homes, said: "We bought the freehold about six years ago, when the pub was struggling. It was so bad that we had to complete early.

"We spent £15,000 bringing the bar up to scratch and found tenants to run the pub.

"Since then, it's been on the up. This is an established community pub and we've had good people behind the bar over the years."

"Pubs aren't really our business - that's why we're selling up. Planning permission cost us more than £100,000 in professional fees but we're confident we can recoup that."

"This is an excellent site with plenty of space in a brilliant location. Plans include linking the site with the A390, which will really increase accessibility," said Doors.

"We're expecting interest from pubcos as well as private operators," .

Michael Easton, of Christie+Co, said: "The Pack Horse is a going concern, with enormous potential for development into a multi-million-pound business." The asking price is £850,000.

"The Cornish market is very buoyant, with a lot of interest in commercial property.

"Interest in inland properties is growing."

Obviously coastal areas such as Padstow are highly prized but we have seen an increase inland too. The Eden Project is a major draw to the St Austell and St Blazey area and there is undoubtedly room for more high quality licensed operations," said Easton.