Lease option could be a smart move at The Checkers

A lease option on the Grade II listed coaching inn, The Checkers, is being offered by real estate services company, Colliers International.

The new option could mean leading chefs looking for an affordable Michelin-starred business opportunity could be steered towards The Checkers in Montgomery, Wales.

It is a £100,000 premium for the lease to include the inventory of fixtures and fittings with rent at £40,000 per annum.

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Ed Jefferson from the Hotels team said: “This will hopefully attract a number of top-level chefs who might not have been in a position to buy outright.

“The current owner and chef, Stéphane Borie, will also offer some consultancy advice for the successful applicant so taking up the lease option at the Checkers could be seen as a career opportunity.”

The restaurant, situated in the Welsh border town of Montgomery, is run by chef-proprietor Borie, his partner Sarah and her sister Kathryn, and was on the market at £575,000 for the freehold.

This includes five letting rooms which have contributed to net annual sales of £498,000.

Jefferson said: “Overlooking the market place in the popular visitor destination of Montgomery, The Checkers is an eye-catching building which underwent a complete refurbishment in 2011.

“Immaculately furnished and beautifully maintained, The Checkers has held a Michelin Star since 2011 thanks to the efforts of Michel Roux-trained chef Stéphane.”

He added: “It also makes an ideal base for exploring this beautiful part of the world, with Snowdonia, the Welsh Marches and Shropshire within a comfortable drive. We are confident the lease option will help bring the property within the reach of many more interested hoteliers and chefs.”

Tags : LeaseMichelin starreal estateThe Checkers
Alex Douglas

The author Alex Douglas

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