Pub for saleBelvedere Club, 1-4 Kingsway, Bishop Auckland, DL14
Offers in Region of 758 sq. m. | £120,000
- 8,168 sq ft (758 sq m)
- Use class orders: A4 Drinking Establishments
- Established Workingmen's Club
- Prominent Position
- Large Function Room
- A4 Drinking Establishment
The subject property is a significant two storey property of traditional construction, offered as an investment opportunity by retaining Bishop Auckland Workmen's Club and Institute Limited who have been in residence on site as owner occupiers for many years. The proposal will involve the creation of a lease agreement allowing the club to remain in occupation as tenants continuing in its existing capacity and use class. The site is located within a prominent and visible position within Bishop Auckland, whereby the occupier will be able to continue its existing leisure-based drinking establishment and function facility attracting members and customers from a sizeable population. The property comprises widespread bar and games accommodation to the ground floor, together with an impressive multipurpose function and events room to the first floor that has a stage, dance floor, seating area and bar.
The site is located at Belvedere Terrace, a key thoroughfare in the centre of Bishop Auckland, County Durham. Bishop Auckland is a historic town located in the south west of the county around fifteen miles from Durham city centre, to the north east, and thirteen miles from Darlington, to the south. The town has a local population in the region of 25,000 and is supported by a well-established infrastructure including many national retailers, health, education and transport facilities. The town is also subject to significant plans to create a new tourist location centred around the castle and Roman remains through investment from a private individual and the local authority.
Main entrance hall with access to ground floor accommodation and first floor.
Male and female W.C.
Games room: 46m2
Additional seating areas: 60m2
Store room: 17m2
Store room: 30m2
Collection of cellar areas: 85m2
Stairs from main entrance to landing
Function and events room: 279m2 including stage
Male and female W.C.
Store room: 12.3m2
NIA (all floors) approx.: 758.9m2 (8,169sq. ft)
The site is offered as an investment opportunity whereby the existing owners of the site, Bishop Auckland Workmen's Club and Institute Limited will remain in occupation as tenants subject to a lease agreement yet to be finalised.
The preferred proposed terms will be that the club will take out an initial lease for a period of 10 years at an open market rent, exclusive on a Full Repairing and Insuring basis. The club will be free to conduct its affairs as a workmen's club free of tie or conditions but to observe all eventually agreed tenant covenants that ultimately form part of a lease agreement.
Interested parties must satisfy their own enquiries with regard to this proposal prior to exchange of contracts. Any offer to purchase this opportunity that differs from these proposed terms will be considered on an individual basis.
The adopted rateable value of the overall building is seven thousand one hundred pounds as effective from 01 APRIL 2010. Source www.voa.gov.uk.
We currently await a copy of the EPC.
VAT AND COSTS
Unless otherwise stated, all stated figures are expressed exclusive of VAT. We await confirmation that VAT is payable on this transaction.
Each party is to bear their own costs.
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