Lyme Regis' The Nags Head is on the market for £595,000

The Nags Head pub in Silver Street has been brought to the market by Christie & Co with an asking price of £595,000.

James and Rebecca De-Voisey purchased the pub just over two years ago and have refurbished large parts of the business, they are now looking to explore other business opportunities so have made the decision to sell.

They said: “We have thoroughly enjoyed our time at The Nags Head and being at the centre of a vibrant local community.

"During our time at the pub we have invested in it, improved its profitability and it still has further opportunities to develop. We feel we have helped secure its future as a successful business and community hub and, by doing so, it offers the new owners the opportunity to really take it forward and continue to grow the business.”

The Nags Head is a traditional coaching house dating back to the Victorian era. There are currently four letting rooms in use and a further three that are in the process of being redecorated, once finished there will be a total of seven letting rooms bringing in additional revenue.

Christie & Co said that there are already £10,000 of guest room bookings in the pipeline for 2020. The current owners are ‘hands off’ and staff run the business on their behalf, so there is huge potential to increase profits if a new owner was to manage the business themselves. Rebecca and James do not currently offer food at the pub and a new owner could open up the kitchen in order to realise a whole new income stream.

Lloyd Colin, business agent at Christie & Co, is handling the sale and said: “This a very profitable pub and there is still scope to increase those profits even further. We expect a high level of interest due to the location of this business and the fact that it is free of tie, with an additional three bedrooms still to be added to the letting accommodation.”

Christie & Co are offering the freehold interest in The Nags Head at an asking price of £595,000.