Commercial Property for saleThe Square, Stow-on-the-Wold, Gloucestershire
- Use class orders: A3 Restaurants and Cafes
- LEASE FOR SALE
- Period Grade II Listed Property
- Recently Refurbished and new 1 bedroom B&B opened in 2017
- Scope for further Bed and Breakfast accommodation or 'live in' flat
- Rent £36,000 per annum
- OFFERS based on £125,000 for theLeasehold Interest, the Business, Goodwill and Fixtures and Fittings
PROMINENT TEA ROOM AND BED & BREAKFAST BUSINESS FOR SALE
Rated as one of the best trading Tea Rooms in the whole of the Cotswolds (Trip Advisor)
Location - STOW ON THE WOLD is an attractive famous old market town in the Cotswolds, with an excellent selection of shops and amenities supplying all normal requirements, Local occupiers include, Scotts of Stow, Fat Face, Mountain Warehouse, The Crock, Rohan and Huffkins. The area benefits from a number of boutique and traditional hotels, and has a range of eating and drinking establishments. The locality is served by a variety of superstores, such as Tescos, Co-operative, Budgens and farm shops such as Daylesford.
Stow is conveniently placed for such centres as Cheltenham (18 miles), Stratford upon Avon (18 miles), Evesham (15 miles), Oxford (28 miles) and Moreton in Marsh with main line station (4 miles). There are excellent bus services to, or connecting with, surrounding towns. All distances are approximate only.
Lucy's Tearoom - Lucy's Tearoom is a traditional English tearoom in the heart of Stow on the Wold, the highest market town in the Cotswolds and benefits from sitting in a prime location overlooking the Market Square. The Tearoom has approximately 30 covers with further seating (19 additional covers) on the forecourt and garden courtyard area.
Accommodation - The main Tearoom benefits from a deep bay window, including seating overlooking the busy Market Square with flagstone flooring and exposed beams. To the rear there is a recently refurbished kitchen with further access down stairs to the cellar. There is further accommodation above with two bedrooms, large lounge overlooking the Market Square, a family bathroom and area to potentially install a kitchen and/or utility room, This area would suit living accommodation for the staff or further Bed & Breakfast rooms (Subject to Planning).
Rear Barn - There is a courtyard garden at the rear with access to the Barn where there is a traditional, recently thatched utility/store room, the new B& B room with ensuite shower room, on office on the first floor and two customer cloakrooms.
Bed & Breakfast - In the Spring of 2017 Lucy's Tearoom opened up a Bed & Breakfast room after a full refurbishment with reservations booked up through to Spring 2018.
Price - The Purchase Price for the business, including goodwill, fixtures and fittings, is £125,000 exclusive.
Passing Rent - The passing rent is £36,000 per annum which was agreed upon following the last rent review (agreed 14th November 2016).
Lease - The lease is 12 years from 26th October 2006 expiring 25th October 2018. The lease is inside the Security of Tenure provisions provided by the Landlord and Tenant Act (1954) Section II. The Assignor will negotiate a new lease with the landlord as part of the assignment if required. the lease is a full repairing and insuring lease.
Services - Mains water and electricity are connected with gas fired central heating.
Legal Fees - The Assignee will be responsible for their own legal fees as well as the landlord's fair and reasonable legal fees for the preparation of the licence to assign
Epc - The property is Grade II Listed and so currently is exempt from requiring an EPC.
Business Rates And Council Tax - Rateable Value Effective from 1st April 2017 is £19,000
Council Tax for Year 2017/2018 - Band C - £1,483.00
The property may need to be reassessed dependant on the final use of the accommodation above the tearoom.
Reservation Deposit - The prospective tenant will be expected to lodge a £750 reservation deposit upon agreeing to take the lease. This will be refunded upon completion, but, should the prospective tenant withdraw for any reason, the deposit will be retained to cover administrative expenses.
Local Authority - Cotswold District Council, Trinity Road, Cirencester, Gloucestershire
Tayler & Fletcher and any Joint agents for themselves and for the Vendors of the property whose Agents they are, give notice that (i) These particulars are produced in good faith, are set out as a general guide only and do not constitute any part of a contract (ii) No person in the employment of or agent of or consultant to Messrs Tayler & Fletcher has any authority to make or give any representation or warranty whatsoever in relation to this property (iii) Measurements, areas and distances are approximate, Floor plans and photographs are for guidance purposes only and dimensions shapes and precise locations may differ (iv) It must not to be assumed that the property has all the required planning or building regulation consents. A list of the partners of Tayler & Fletcher LLP is available at each Tayler & Fletcher Office.
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