Contact us at, Pattinsons Estate Agents, Ashington, Northumberland, NE63 8RS
£26.13 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
4,209 sq ft
391 sq m
- SECTOR
Hospitality facility for sale
Key features
- 11.5% ROI after purchase costs
- Extensive Refurbishment Throughout
- Currently let at £14,400 per annum
- Sports Bar With 2 Separate Seating Areas
- Stunning Large Function Suite
Description
An excellent opportunity to acquire the freehold of a recently refurbished sports bar with a large separate events venue, situated in a town centre location in Northumberland close to train station and local amenities.
The property has undergone extensive refurbishment and has been fitted out to provide a stylish and versatile hospitality venue. The events venue has its own fully fitted bar, a mix of booth, banquette and lounge seating, feature chandeliers and air conditioning, making it well suited to private functions, parties and celebrations alongside the day-to-day sports bar trade.
The property is arranged over ground and first floor levels.
Ground Floor Lounge Bar
A stylish lounge-oriented trading area fitted out to provide a warm and welcoming environment, with curved booth seating, loose tables, occasional chairs, decorative wall mirrors and ambient lighting, creating an intimate and comfortable setting.
Ground Floor Main Bar / Sports Bar
A separate and distinct trading area centred around a fitted bar servery with draught dispense equipment, back-bar display shelving and mixed seating, suitable for casual drinking and sports bar style trade.
First Floor Private Events Space
A luxurious private function suite providing a separate bar area together with a dedicated dance floor, suitable for parties, celebrations and a wide range of private hire uses.
The property is currently let at £14,400 per annum on a 2 year lease with a break clause in Summer 2028, representing a return of circa 11.5% after purchase costs. It offers investors an income-producing freehold asset in an established town centre setting.
In addition to its existing commercial use and investment income, the scale and configuration of the building may offer longer-term potential for alternative or mixed-use development.
We are advised that the business has established and continues to enjoy an excellent reputation locally.
Please email for full details.
Contact us
For more information please contact or
Auctioneers Additional Comments
Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Auctioneers Additional Comments
The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.
Brochures
Contact us at, Pattinsons Estate Agents, Ashington, Northumberland, NE63 8RS
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Ashington Station0.1 miles
- Pegswood Station2.7 miles
- Widdrington Station4.3 miles
Notes
Disclaimer - Property reference 499871. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Pattinsons, Pattinsons Commercial North East. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Pattinsons, Pattinsons Commercial North East on 0191 743 9260.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”