2 bedroom residential development for saleNORFOLK
Ref 7762 FREEHOLD
WELL PRESENTED AND ESTABLISHED COMMUNITY FREEHOUSE CLOSE TO THE TOWN CENTRE AND SEA FRONT IN THE BUSY AND POPULAR COASTAL TOWN OF GREAT YARMOUTH, NORFOLK
Well established Traditional Inn in a sought after location.
Welcoming Bar (circa 30) with wood finish floor.
Well maintained ground floor Cellar.
Spacious Owner's Accommodation with domestic Kitchen.
Paved Patio Area with covered Smoking Shelter.
Advised current turnover circa £103,200 (inc. VAT) 100% wet.
Trading on reduced hours.
Possible change of use to residential (STPP).
Desirable new 10 year Free of Tie Lease or Freehold.
A RARE OPPORTUNITY TO PURCHASE THIS WELL ESTABLISHED AND POPULAR TRADITIONAL FREEHOUSE WITH FURTHER GROWTH POTENTIAL IN A SUPERB LOCATION
This business is situated in the large popular coastal town of Great Yarmouth only a few minutes walk from the beach, seafront and town centre.and can be found nestling on the Norfolk Coast off the A47, A143 and A12. Great Yarmouth is a busy vibrant town, famous for its promenade, sandy beaches and pier. The historic old quay is a great place of interest with its Tide and Time and Lord Nelson Museums. Yarmouth's Pleasure Beach on the seafront is one of England's largest static fun fairs. There is a superb shopping centre and with its own train and bus station, many hotels and guest houses, restaurants and takeaways this makes Great Yarmouth a popular place for tourists and holiday-makers all year round. For those who enjoy more sporting activities, there is Yarmouth Stadium which hosts horse racing and stock car racing. The quieter town of Caister on Sea with its Castle and Car Museum is nearby and Norwich City is only approximately 12 miles away.
Is an impressive and eye catching two storey building of brick construction under a pitched tiled roof and maintained to a good standard throughout.
The Bar (circa 30) is accessed from the main entrance and has a welcoming and traditional atmosphere with wood finish floor, pool table, dart board, Sky and B.T. Sports, 2 flat screen TV's projector and screen, AWP machine and juke box. There is a fully equipped bar servery with bottle fridges, optics etc. (not tested) and is traditionally furnished with tables, chairs and bar stools.
Ladies and Gents W.C.s. all in good order.
Cellar which is located on the ground floor is in good order and well maintained.
Catering Facilities There is a domestic kitchen located on the first floor. There is no commercial kitchen, however it may be possible to create a kitchenette between the bar and the cellar (subject to consent) to offer bar snacks.
OWNER'S ACCOMMODATION (not seen)
Located on the first floor. We are advised is spacious and comprises of two double bedrooms, large lounge, domestic kitchen, family bathroom and private roof terrace.
EXTERNAL There is an enclosed paved patio area with plants, picnic benches and a covered smoking shelter. There is also a private court yard with a brick built out building (currently used for storage).
TRADING & LICENSING
We are advised that the business trades with the benefit of the Premises Licence (not seen) which permits the sale of alcohol during the hours of:
Mon- Sun midday to 01:00am
Current opening hours are:
Mon-Fri 3.30pm to midnight
Sat & Sun midday to 01:00am
NB. Important. Prospective purchasers wishing to continue to operate the public house should ensure that they gain the APLH Qualification in readiness for their intended operation of the Public House.
The property and business is being offered for sale freehold (although we have not had sight of the title deeds) or as a new highly favourable 10 year Private FRI Lease Agreement as follows:
1. The asking premium will be £19,500.
2. The initial annual rent will be £10,500
3. The annual rental is simply RPI linked to inflation every 3 years, hence no rent reviews.
4. Rent payable quarterly in advance.
5. Lease re-assignable after initial 2 year period.
6. Free of all brewery and supply ties.
7. Each party responsible for own legal costs
relating to the transaction.
We are advised that at the end of the term, the
Lease (not seen by Guy Simmonds) should be
renewable with no further premium - subject to
the provision of the Landlord & Tenant Act 1954.
We are advised that the inn benefits from all mains
services with gas for cooking and oil for heating (services not tested).
Business rates are advised as being NIL.
Our vendor clients have owned the business for the past 13 years in which time they have built up a successful community inn with a regular and loyal wet trade and has become a popular sport orientated venue. This business enjoys the benefits of 3 pool teams and a darts team, with a well supported and regular entertainments program
including live music, discos and karaokes etc and has become very popular in the local community. Due to its ideal location it also enjoys passing trade from the many tourists and holiday makers visiting the town especially during the Summer months.
The business is currently being run by one of the owners full-time and two part-time staff. Due to other business commitments our vendor clients have decided that they wish to sell the business.
We are advised that the current takings are circa £103,200 (inc VAT) per annum. In our opinion there is true growth potential for new owner operators to build on the already well established trade by opening lunch-times and offering bar snacks (subject to consent), all day and evening and possibly to increase the entertainment by offering quiz nights and theme nights etc.
Accounting information will be made available to interested parties after viewing.
This business was viewed by Geoff Bryan who would be delighted to discuss further details and can be contacted on 07887 571720.
Viewing appointments must be made by contacting Guy Simmonds
VIEWING: All appointments must be made through Guy Simmonds. Please note that these Sales Particulars are issued on the strict basis that all negotiations, viewings and contacts in connection with this business are conducted through Guy Simmonds who are appointed by the vendor to act under a Sole Selling Rights agreement with total confidentiality. Any breach of these terms may make you liable in law to litigation and damages. Under no circumstances must you approach the owner direct without a formal appointment or disclose to other customers and staff that the Premises are for sale.
FINANCE FOR PURCHASING A LICENSED PROPERTY: We are in constant touch with a leading finance broker who specialises in arranging Business Finance for Licensed Properties. Whether you are purchasing a Licensed Property through ourselves, or another agent, we will be pleased to contact on your behalf our specialist who can arrange the necessary Finance Package for you at preferential rates. Please telephone for free and no obligation advice with regards to financing a Business.
Guy Simmonds for themselves and for the vendors or lessors of this property and/or business whose agents they are give notice that:-
(I) These particulars are a general outline for the guidance of intending purchasers (or lessees) and do not constitute an offer or contract, nor any part of an offer or contract.
(II) All descriptions, dimensions, distances, maps/plans, references to condition, trading figures and other items in these particulars are given as a guide and no responsibility is assumed by Guy Simmonds for the accuracy of individual items. Intending purchasers (or lessees) should not rely on them as statements of representations of fact and should satisfy themselves as to the correctness of each item by making independent enquiries.
(III) Intending purchasers (or lessees) should make their own independent enquiries regarding the use of the property, necessary permissions for use and occupations, potential uses and any other matters affecting the property prior to purchase.
(IV) Guy Simmonds do not make or give whether in these particulars, during negotiations or otherwise, any representation or warranty in relation to this property. No responsibility is taken by Guy Simmonds for any error, omission or mis-statement in these particulars. Guy Simmonds do not warrant the accuracy of any accountancy information supplied and purchasers are advised to take independent advice in order to satisfy themselves.
(V) Guy Simmonds are unable to give any warranty as to the working order of any apparatus, equipment, fittings or services associated with the premises and therefore, cannot verify they are in full working order. Purchasers are strongly advised to obtain specialist reports prior to exchange of contracts in order to satisfy themselves.
(VI) All statements and descriptions are made without responsibility or warranty by Guy Simmonds, the vendors or lessees. Neither do Guy Simmonds nor the vendors/lessees hold ourselves responsible for any expenses whatsoever incurred by applicants inspecting Businesses which may be sold or withdrawn, to include travelling, valuation/survey, legal fees etc.
(VII) No person in the employment of Guy Simmonds has any authority to make or give any representation or warranty whatever in relation to this property.
(VIII) It should not be assumed that the contents of any photographs are included in the sale.
(IX) All prices quoted are excluding stock at valuation.
Energy Performance Certificates (EPCs)
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