Pub for sale

The Castle Inn, 35 Earsham Street, Bungay, Suffolk, United Kingdom, NR35 1AF

£90,000

Property Description

Commercial information

  • Business for sale

Key features

  • Open plan character bar & restaurant
  • 40 covers around central bar
  • 4 en suite letting bedrooms
  • Owners accommodation on 2nd floor
  • Rear patio (20) & car park (6)
  • Potential to grow the existing trade. Energy Rating D

Full description

Tenure: Leasehold

Description

End terrace two storey property with loft conversion under pitched tiled roofs with single storey additions to the rear.

The property is thought to date from 1566 when it was known as the White Lion and in 1688 sustained damage during the Great Fire but was rebuilt.

Recommended in the Michelin Guides 2010 to 2018 - "Cooking is country based, fresh simple and seasonal".

Location

Prominent location on Earsham Street in the town centre in a mixed retail area a short distance from the market square.

Bungay is a market town on the A143 in Suffolk which lies in the Waveney Valley, 5.5 miles west of Beccles on the edge of the Broads, and around 17 miles from Southwold, 20 miles south of Norwich and 18 miles to the north east of Diss.

An attractive and thriving market town situated in a loop of the beautiful river Waveney, Bungay boasts many historic attractions including the ruins of Bigod's Castle, the ancient Buttercross - where a market is held each Thursday, and the old Borough well.

Internal Details

An entrance and lobby to the front of the premises gives access to the main dining area in two parts with exposed wooden floor, feature fireplace and part stone exposed walls where there are 30 covers on wooden chairs and tables.

Central bar with panelled front on one side and flint stone to the other.

The second dining area has a feature fireplace, access from the rear patio and where a further 10 covers can be accommodated. There is a hot drinks serving station and access to the letting rooms.

Trade kitchen with adjoining prep room and dry goods store with freezer store to the rear.

Ladies and gents WCs.

Tenure

Available freehold or on a new 10 - 15 year FRI free of tie lease at a guide rent of £27,500 with 5 yearly rent reviews. The lease would offer security of tenure under the Landlord and Tenant Act 1954.

Letting Accommodation

Four en suite letting rooms to the first floor - two doubles with bathrooms, one double and one twin with shower rooms.

External Details

Rear part fenced character courtyard garden with mature feature rubber tree and shrubs and with bench seating for around 20.

Car park for six with vehicular access to the side of the property.

Bin area and outside storage.

Owner's Accommodation

Situated on the second floor with lounge area, adjoining bedroom with en suite shower room.

The Opportunity

The restaurant has many accolades including being recommended in the Michelin Eating Out in Pubs Guide 2018.

There is a good opportunity to grow the business by enhancing the existing food offer, increasing existing covers and opening Mondays, Tuesday and Sunday evenings which are currently not traded.

Trading Information

Certified year end accounts to 31st July 2017 show a net turnover of £284,165 with a gross profit of 68%.

Trade is split approximately 75% Dry, 15% accommodation and 10% wet.

Accounting information can be made available after formally viewing the business.

Trading Hours

Mondays - currently closed
Tuesday and Sunday: 12pm - 3pm
Wednesday to Saturday: 12pm - 3pm and 6pm - 11pm

Business Rates

Rateable value £20,900 with effect 01 April 2017.

Regulatory

Premises Licence.


More information from this agent

Nearest station

  • Brampton (6.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Ipswich

Hyde Park House Crown Street, Ipswich, IP1 3LG

01472 565052 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 station

  • Brampton (6.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Christie & Co , Ipswich

Hyde Park House Crown Street, Ipswich, IP1 3LG

01472 565052 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.

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