Pub for sale

Cross Keys, 88 Cheep Street, Sherborne, DT9 3BJ

Under Offer £50,000

Property Description

Commercial information

  • Business for sale

Key features

  • Nil Premium. New FOT lease
  • Freeholder to fully refurbish building
  • Proposed 150 cover restaurant
  • Manager's apartment
  • Enviable town centre location
  • EPC Exempt

Full description

Tenure: Leasehold

Description

Cross Keys is a Grade II Listed character three storey property of part stone and brick construction beneath a pitched roof. The property is situated in a prime position on the market square in the pedestrianised area of the High Street, known as Cheap Street. The pub has the benefit of retained period features including exposed walls and feature fireplaces.

It was one of several coaching inns on the Exeter to Salisbury route. The building occupied a key position in the Shambles (a meat market), renamed the Parade after 1735 when the Earl Digby moved them to new premises leaving the Conduit area free as a market, a tradition which continues today. The market is held every Thursday and Saturday from 8am - 2pm.

Location

Sherborne is an affluent destination market town in Dorset, situated on the A30, the commuter road linking London to the South West.

The town has excellent transport links, with a mainline train station within walking distance to the property. With its abundance of medieval buildings, a spectacular Abbey, world famous schools and two castles, Sherborne has much to offer visitors.

Sherborne still retains many small specialist shops as well as offering a delightful array of fashion boutiques and antique outlets. Excellent hotels and a variety of other good quality accommodation make Sherborne a fine centre for those wishing to explore this charming and unspoilt area of Dorset, as well as Somerset and Wiltshire.

Internal Details

The premises will total approximately 4,639 sq ft internally, with space for between 150 - 200 covers depending on seating style and layout in the split level dining areas.

Floor plans are available on request.

Terms

The landlord is proposing a rent of £50,000 - £55,000 per annum, with a minimum lease term of 10 years, on a Free of Tie and Fully Repairing and Insuring basis.

The landlords are a private local development company.

External Details

Externally there will be an enclosed walled courtyard as well as offering the opportunity to purchase a Pavement Licence at the front of the property.

Owner's Accommodation

Proposed two bedroom flat on the first floor, which if not required could be incorporated into the restaurant for additional covers. Top floor one bedroom apartment.

The Opportunity

The successful tenant will enjoy the benefits of a beautifully renovated building finished to the highest quality, comprising of a full electrical rewire and a totally new heating system throughout. The landlords are keen to work with prospective tenants to create a layout and specification that works for their business.

The vision of the building is to create a modern clean fresh feel while maintaining some of the stunning historic features.

This opportunity would ideally suit an experienced pub or restaurant operator. The landlords will consider business proposals for restaurant, pub or café usage.

Business Rates

Rateable value with effect from April 2017 £14,250.


Nearest stations

  • Sherborne (0.3 mi)
  • Thornford (3.7 mi)
  • Yeovil Pen Mill (4.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Exeter

Kings Wharf The Quay, St. Thomas, Exeter, EX2 4AN

01392 799187 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Sherborne (0.3 mi)
  • Thornford (3.7 mi)
  • Yeovil Pen Mill (4.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Exeter

Kings Wharf The Quay, St. Thomas, Exeter, EX2 4AN

01392 799187 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 3259123-lh. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Christie & Co , Exeter. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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