42 Cheap Street, Newbury, Berkshire, RG14

This commercial property consists of a three-story pub.

The ground floor features a bar and seating area. Additional seating is available on the first floor.

The first and second floors are equipped with two kitchens, restrooms, staff accommodations, and showers.

The property also benefits from an outdoor seating area.

A 30-year lease is currently in place, commencing on July 4, 2010, and expiring on June 4, 2040.

However, the tenant break option, which will be exercised on June 4, 2025, will necessitate the property’s sale in a vacant state.
Location
The property is located only a 2-minute walk from Newbury train station, making it highly accessible to other amenities and transport links.
Some of the amenities in the immediate area include:

• The King Charles Tavern - Traditional pub with ales and British dishes.
• Corn Exchange - Theater and independent cinema.
• Victoria Park - Park with tennis courts, a boating pond, and a skatepark.
• Newbury Racecourse - Horse racing events and concerts.
• Northcroft Lido - Outdoor swimming facilities at Northcroft Leisure Centre.
• The Watermill Theatre - Small theater hosting a variety of performances.
• Newbury Cricket Club - Sports club for cricket matches.
• Newbury Library - A local library offering books, events, and quiet spaces.

Planning
Although there is currently no planning in place, a positive pre-application has been received: 24/01544/PREOPB.
The proposed development involves the conversion of the public house into two ground-floor Class E units (Commercial, Business, and Service) and nine self-contained flats (Class C3) on the upper floors (4 x 2 bedroom units and 5 x 1 bedroom units). The upper floors will also include private and communal amenity spaces. Additionally, external works will be undertaken, including the installation of new shop fronts and alterations to the existing rear extension.