Leisure facility for sale
ThreeHorse Shoe, Lanchester, DH7
Guide Price
£395,000
£79.00 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
5,000 sq ft
465 sq m
- SECTOR
Leisure facility for sale
Key features
- High Revenue Generation
- Leased until 2027
- Available for Owner Occupation
- Income available upon request
Description
LOCATION
The Three Horseshoes is prominently located on Lanchester Road at the corner junction with Edge Lane and Tower Road, forming part of the main thoroughfare through the village of Maiden Law. Lanchester Road links directly with the A693 to the north and the A691 to the south, providing excellent connectivity to surrounding towns and villages.
Maiden Law is situated approximately 2.8 miles south west of Stanley, 1.2 miles south of Annfield Plain, and 1.5 miles north of Lanchester. Durham city centre lies around 8 miles to the south east and can be reached within approximately 20 minutes by car. Durham is a historic city, home to Durham University and its iconic Norman Castle, which has featured in the filming of the Harry Potter series. Newcastle upon Tyne is accessible in just over 30 minutes by car.
The village benefits from regular bus services, with a bus stop located directly outside the property. While Maiden Law is a small rural village with limited amenities, it is supported by nearby guest houses, a campsite, and strong road and public transport links. County Durham is a predominantly rural area that is popular with both residents and tourists alike.
DESCRIPTION
The property comprises a well-established Pub/Restaurant with an extension to the front and an annex to the side, set within a total site area of approximately 0.45 acres (0.18 hectares). Externally, the property benefits from a large car park, beer garden, and surrounding land.
Internally, the property operates as a restaurant and bar offering approximately 90 covers. The business currently operates Tuesday to Saturday, providing lunch and dinner service alongside bar service from 12:00.
There is a separate enclosed function room suitable for private dining, parties, and larger group bookings, in addition to the main dining and bar area. The property is Free of Tie, although a running supply contract with Heineken is in place.
The upper floors comprise a private residential dwelling, which may be utilised by an owner occupier or sub-let, subject to requirements.
PLANNING & DEVELOPMENT OPPORTUNITIES
The property benefits from full planning permission for the construction of two self-contained two-storey residential dwellings within the outbuildings. These buildings are not included within the existing lease and can be developed immediately.
Further details can be obtained via Durham County Council under planning reference 1/2012/0073/84024. A copy of the full planning application is available upon request. There may be additional development opportunities available, subject to obtaining the necessary consents.
TERMS
The property is currently leased to an operator at a rent of £23,500 per annum until 2027. There is potential for the property to be re-let or occupied by an owner operator upon expiry or by agreement.
The Freehold interest is available at a guide price of £395,000. Current revenue information is available upon request.
RATING ASSESSMENT
All interested parties are advised to make their own enquiries with the local authority regarding business rates.
VAT
The property is elected for VAT. All rents, premiums, and purchase prices quoted are exclusive of VAT.
All offers are to be submitted to Bradley Hall on this basis and, where silent, will be deemed net of VAT.
LEGAL COSTS
Each party is to bear their own legal costs incurred in the transaction.
VIEWING & FURTHER INFORMATION
For further information or to arrange a viewing, please contact Harry Towers or Callum Armstrong at Bradley Hall.
The Three Horseshoes is prominently located on Lanchester Road at the corner junction with Edge Lane and Tower Road, forming part of the main thoroughfare through the village of Maiden Law. Lanchester Road links directly with the A693 to the north and the A691 to the south, providing excellent connectivity to surrounding towns and villages.
Maiden Law is situated approximately 2.8 miles south west of Stanley, 1.2 miles south of Annfield Plain, and 1.5 miles north of Lanchester. Durham city centre lies around 8 miles to the south east and can be reached within approximately 20 minutes by car. Durham is a historic city, home to Durham University and its iconic Norman Castle, which has featured in the filming of the Harry Potter series. Newcastle upon Tyne is accessible in just over 30 minutes by car.
The village benefits from regular bus services, with a bus stop located directly outside the property. While Maiden Law is a small rural village with limited amenities, it is supported by nearby guest houses, a campsite, and strong road and public transport links. County Durham is a predominantly rural area that is popular with both residents and tourists alike.
DESCRIPTION
The property comprises a well-established Pub/Restaurant with an extension to the front and an annex to the side, set within a total site area of approximately 0.45 acres (0.18 hectares). Externally, the property benefits from a large car park, beer garden, and surrounding land.
Internally, the property operates as a restaurant and bar offering approximately 90 covers. The business currently operates Tuesday to Saturday, providing lunch and dinner service alongside bar service from 12:00.
There is a separate enclosed function room suitable for private dining, parties, and larger group bookings, in addition to the main dining and bar area. The property is Free of Tie, although a running supply contract with Heineken is in place.
The upper floors comprise a private residential dwelling, which may be utilised by an owner occupier or sub-let, subject to requirements.
PLANNING & DEVELOPMENT OPPORTUNITIES
The property benefits from full planning permission for the construction of two self-contained two-storey residential dwellings within the outbuildings. These buildings are not included within the existing lease and can be developed immediately.
Further details can be obtained via Durham County Council under planning reference 1/2012/0073/84024. A copy of the full planning application is available upon request. There may be additional development opportunities available, subject to obtaining the necessary consents.
TERMS
The property is currently leased to an operator at a rent of £23,500 per annum until 2027. There is potential for the property to be re-let or occupied by an owner operator upon expiry or by agreement.
The Freehold interest is available at a guide price of £395,000. Current revenue information is available upon request.
RATING ASSESSMENT
All interested parties are advised to make their own enquiries with the local authority regarding business rates.
VAT
The property is elected for VAT. All rents, premiums, and purchase prices quoted are exclusive of VAT.
All offers are to be submitted to Bradley Hall on this basis and, where silent, will be deemed net of VAT.
LEGAL COSTS
Each party is to bear their own legal costs incurred in the transaction.
VIEWING & FURTHER INFORMATION
For further information or to arrange a viewing, please contact Harry Towers or Callum Armstrong at Bradley Hall.
ThreeHorse Shoe, Lanchester, DH7
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Chester-le-Street Station6.3 miles
Notes
These notes are private, only you can see them.
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