Suffolk - Town Centre Pub & Restaurant With 4 En Suite Letting Bedrooms

Freehold Opportunity

Or

New Leasehold Opportunity

LEASEHOLD Premium £20,000 to include fixtures and fittings. Stock at valuation in addition.

TERM: For a term of 7 years (term negotiable dependent on covenant strength).
LANDLORD & TENANT ACT 1954: Inside Part II Landlord & Tenant Act 1954.
ASSIGNABILITY: Fully assignable subject to Landlord's consent.
BOND: The successful purchaser will be required to lodge with the freeholder a deposit equivalent to 3 months' rent in advance.
RENT: Annual rent £20,000 paid monthly in advance.
RENT REVIEW: Rent to increase to £22,000 in year 3 and then to £24,000 in year 6.
REPAIR LIABILITY: Part repairing and insuring lease agreement.
TIE: Free of all trade ties.
INSURANCE: The Landlord insures the building, the cost of which is charged to the Tenant by way of an Insurance Rent.
VAT: Please note that VAT will not be payable on the premium and rental payments.

No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.

LOCATION
The Castle Inn is situated in the Suffolk market town of Bungay which lies in the Waveney Valley on the edge of The Broads. Bungay is located 16 miles west of Lowestoft and the Suffolk coast, 17 miles southeast of Norwich and 21 miles southwest of Great Yarmouth. According to the 2021 census, the town had a population of 5,008.

Bungay benefits from a variety of landmarks and amenities which include two primary schools, secondary school, doctors surgery, golf club, fuel station, theatre, museum and the historic Grade I listed Bungay Castle which overlooks The Castle Inn.

The Castle Inn, which is purported to date back to the 1500s, occupies a three-storey, semi-detached, brick building under a pantile roof. It is situated in a prominent position on the desirable Earsham Street neighbouring an independent butchers, fishmongers, deli and greengrocers, where it is only a few hundred yards from the town centre and Bungay Castle.

TRADE AREAS
ENTRANCE PORCH providing entry to the open plan MAIN BAR/RESTAURANT with combined seating for 50, wooden flooring, an open brick feature fireplace, a second fireplace with inset log burner and a wooden main bar with cellar hatch behind (providing access to the basement CELLAR). The cellar comprises two rooms and an external barrel drop. COMMERCIAL KITCHEN with access to a DRY STORE and SERVICE AREA/DESSERT PREP AREA. INNER HALL with access to Ladies' and Gentlemen's TOILETS. REAR HALL with stairs leading to the first floor and access to the rear trade patio.

FIRST FLOOR
Letting Accommodation:
Four bedrooms in total: DOUBLE BEDROOM with en suite SHOWER. DOUBLE BEDROOM with en suite BATHROOM. TWIN ROOM with en suite SHOWER. FAMILY ROOM with en suite BATHROOM.

SECOND FLOOR/TOP FLOOR
Private Accommodation:
LOUNGE/KITCHENETTE. DOUBLE BEDROOM with en suite SHOWER.

EXTERNAL
Rear TRADE PATIO with seating for 40. Wooden SHED. LOG STORE & BIN STORE. Rear CAR PARK with space for 6 vehicles (Please Note: A public right of way runs through the car park joining a footpath which leads to Bungay Castle. An adjacent residential property also has a vehicular right of access over the car park).