Investment Property with Vacant Possession Option
Price:
Freehold - £500,000
Location:
Wales, Flintshire
Business Type:
Commercial Property
Location
The premises are located on Church Street (B5196) which is a continuation of High Street and forms the main road running from Shotton through Connah's Quay and links with the A548 which is the main road running into Flint in North Wales. The premises are set within the heart of Connah's Quay close to the local shops, public transport and schools including Deeside College of Further Education.
Premises History & Description
The property comprises a public house/club with snooker and pool facilities, together with a large concert/function room. The building also incorporates a fifty eight cover restaurant with full commercial kitchen, together with twelve letting bedrooms all en-suite. The original two storey building with single storey rear part was built in the 1930/ late 1940’s. A further two storey front extension was added in the 1970’s/1980’s which mainly provides the letting room facilities. The whole of the site extends to approximately 2,700m² or 2/3rds of an acre. The ground floor area of the building occupies about 30% of the total site area. There is excellent direct access from Church Street with an approximate 19.00m frontage which opens out on to a large car parking area to the front with provision for parking of about fifty cars. The buildings are arranged towards the rear of the site. There is also an adjacent residential property no. 29 Pen-y-Llan Street, which is a 2 storey end terraced house. The site may be suitable for redevelopment subject to obtaining necessary consents.
Tenure
Freehold. The property is let on a five year privately prepared written agreement dated 25 February 2008 at a current rental of £600 per week increasing to £700 per week in November 2011. We further understand that the owning company receives approximately £300 per calendar month from Heineken UK as a share of beer discounts. This is currently under review. Total income is quoted at around £35K per annum. and expected to increase in November 2011. A copy of the lease document can be examined at the offices of Jolley & Co.
Uniform Business Rates
Flintshire Council have verbally provided the following information:- Rateable Value £17,000 Rates Payable 2010/11 £6,953.
Price
£500,000 for the freehold land and property
North Yorkshire
£ 750,000
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