The Old New Inn & Model Village, situated in the village of Bourton-on-the-Water in Gloucestershire, has been brought to the market through Christie & Co, with an asking price for the leasehold of £595k.
The Old New Inn is a substantial, detached, three-storey Grade II-listed property, dating back to 1712, earning its name as it was built on and doubled in size through extensions in the 1930s.
The expansive building comprises of three bars, a main restaurant for up to 40 covers, a function room with capacity for up to 60 guests, a breakfast room for up to 20 covers and a beer terrace and garden. Retaining traditional and original features, the venue also boasts stone fireplaces, flagstone flooring, and ornate ceilings.
The site’s main attraction has been the Model Village, located behind the inn, which is a one ninth scale exact replica of the heart of Bourton-on-the-Water, crafted by local builders from local Cotswold stone. Built in 1936, it is one of the oldest Model Villages in England and the only one to be given Grade II listed status, recognised for its rarity, craftmanship and historical value, and attracting over 100,000 visitors a year.
A popular and picturesque location, Bourton-on-the-Water is affectionately known as ‘The Venice of the Cotswolds’ and benefits from a large volume of hospitality custom to the area and good access to a number of larger towns and cities including Cheltenham and Oxford.
Other sources of revenue generated through the site are the use of the car park pay & display services, and up until 2011, letting accommodation was offered at The New Old Inn, utilising eight ensuite guest bedrooms. The inn also provides a spacious, four bedroom owner’s accommodation, and staff accommodation is provided through an annexe building behind the inn.
The current owners, Mr & Mrs Atherton who have run the historic site since 1999, limited the inn’s offering in 2011 opening only during the day from April to September for wet sales due to the huge popularity and success of the Model Village, which is the business’ main source of income. With multiple potential revenue streams available through the inn, Model Village, and letting rooms, the site provides an opportunity for buyers looking for a profitable lifestyle business or lucrative investment opportunity.
The Atherton's commented, “We have thoroughly enjoyed the last 19 years here and have been delighted with the increase in visitors to the Model Village. We were honoured to be the second family to own this unique attraction and have taken pride in renovating it and introducing additional exhibits, however we now feel it is time for retirement!”
Nicholas Calfe, Director based in Christie & Co’s Bristol office, commented, “This miniature village presents huge potential! The New Old Inn and Model Village provides a unique opportunity with multiple income streams and a strong tourist offering in a highly desirable location. The Cotswolds is home to a robust market which attracts visitors all year round, making this business a lucrative investment for the right buyer.”