10 bedroom pub for saleConnaught Avenue, Frinton-On-Sea, CO13
Offers in Region of 2,010 sq. ft. | £1,400,000
- 2,010 sq ft (186 sq m)
- 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
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.
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
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.
We are awaiting confirmation of whether the property is elected for VAT.
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%.
The property appears in the Valuation List with a rateable value of £17,600 and the flats appear within Council Tax Band B.
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
firstname.lastname@example.org or email@example.com
Braintree Office 01376 322765
More information from this agent
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