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10 bedroom pub for sale

Connaught Avenue, Frinton-On-Sea, CO13

Offers in Region of 2,010 sq ft | £1,400,000

Property Description

Commercial information

  • 2,010 sq ft (186 sq m)

Key features

  • Sales Area - 2,010 sq.ft.
  • Ancillary storage Areas
  • Two Self Contained Five Bedroom Flats
  • Passing Rent £65,000 P.A.X.
  • PRIME PUB INVESTMENT
  • 19 year lease residue
  • let to Shepherd Neame Ltd

Full description

Tenure: Freehold

LOCATION & DESCRIPTION
Frinton on Sea is a highly sought after coastal resort, famous for the Frinton Gates, sandy beach, leisure pursuits and its eclectic mix of national and local retailers, and located some fifteen miles east of Colchester via the A120 / B1033. It has main line rail services which are provided to London-Liverpool Street via Thorpe le Soken.

Comprising the only Public House to have secured planning consent in Frinton, the property is a mid-terraced building arranged over ground and two upper floors, offering extensive sales and ancillary areas plus two self-contained five bedroom flats.

ACCOMMODATION
The property has the following dimensions and net internal floor areas:

Ground Floor – Sales 2,101 sq.ft
Open Atrium 1,010 sq.ft
Male / Female WC
First Floor – Store 585 sq.ft
Net Internal Area 3,696 sq.ft (343.4 sq.m)

Flat A First Floor Lounge/Dining Room/Kitchen
Second Floor 5 Bedrooms/Bathroom

Flat B First Floor Lounge/Dining Room/Kitchen
Second Floor 5 Bedrooms/Bathroom

TENURE – FREEHOLD

TERMS
The entire property is let to Shepherd Neame Ltd for a period of thirty years from the 14th April 2000 at a passing rent of £65,000 per annum exclusive.

VAT
We are awaiting confirmation of whether the property is elected for VAT.

ASKING PRICE
The vendors are seeking offers of £1.4 million subject to contract for the benefit of their freehold interest. A purchase at this level would reflect a net initial yield of 4.4% after allowing for a purchaser’s usual costs of 5.85%.

RATEABLE VALUE
The property appears in the Valuation List with a rateable value of £17,600 and the flats appear within Council Tax Band B.

LEGAL COSTS
Each party is to be responsible for their own legal costs incurred during the course of any transaction.


FURTHER INFORMATION Strictly by prior appointment through the sole agents
Whybrow Chartered Surveyors 01206 577667
ewan.dodds@whybrow.net or christopher.ware@whybrow.net
or
Braintree Office 01376 322765
andrew.mcleod@whybrow.net

More information from this agent

To view this property or request more details, contact:

Whybrow Chartered Surveyors, Commerical

2 De Grey Road, Colchester, CO4 5YQ

01206 916031 Local call rate

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Disclaimer

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