Business Hilton Smythe is delighted to bring to the market this Freehold investment property, which is ideally located within the village of Murton, County Durham.
The property consists of a social club on the ground floor, which is currently leased by Murton Colliery Club Ltd, which have just signed a new 5-year lease with a rental agreement of £17,160 per annum. the ground floor consists of a reception/committee/office, ladies and gents’ WCs, a games room, main bar area with a stage and access to a kitchen and a lounge room.
The first floor offers a large function room, with seating for approximately 200 persons, a bar with 8 points of dispense, a store room, an office with safe and a committee room, as well as a large lounge room, with a bar and 8 points of dispense, which seats approximately 50 persons.
There is also a stewards flat on this floor, consisting of two bedrooms, a living room, a kitchen and a bathroom. The flat has a long term tenant and generates a rental income of £4,420 per annum.
The function room side of the business is currently run by our client, with a potential to generate an income of approximately £10,000 per annum. Future bookings from the function room are included within the sale. There is also £1,000 per annum received from the pool and snooker side of the business.
95% of the fixtures and fittings are owned by our client and are included within the sale.
This is an excellent opportunity to acquire a freehold investment opportunity within the village centre, therefore early viewing must come highly recommended to avoid disappointment.
Location This investment opportunity consists of substantial two storey premises, ideally located within the village of Murton, County Durham. The premises are surrounded by densely populated residential areas, from which the current social club business derives much of its trade. The premises benefit from excellent car parking facilities within the area.
Murton is a village in County Durham and was a very productive coal mining community for over 100 years. The pit employed over 1,000 men at its peak. The old spoil heaps are now host to Dalton Park, which is a popular retail outlet development that brought much needed employment to the village. According to the 2011 census, the village had a residential population of 7,676.
The area of the property is well served by the public transport system with several bus stops within easy walking distance of the property. Seaham railway station is approximately 3½ miles away. The area is also well served by the A-roads, with the A19 being within easy driving distance, which links to the national A-road and motorway networks. Murton lies six miles east of Durham and seven miles south of Sunderland.
Premises Substantial two storey premises in an ideal trading location, briefly comprising:
Lower ground floor with:
Large cellar – all equipment is owned by our client.
Ground floor with:
Main entrance with reception/committee room and office.
Ladies and gents’ WCs,
Games room with snooker and pool table.
Bar room with stage area, main bar with 9 points of dispense and seating for approximately 120 persons.
Access to kitchen.
Lounge room with bar and 8 points of dispense and seating for approximately 50 persons. Stairs leading to first floor.
First floor with:
Function room with seating for approximately 200 persons.
Bar with 8 points of dispense. Store room.
Office with safe.
Emergency external exit with stairs to street level.
Stewards flat with:
2 x bedrooms.
95% of the fixtures and fittings are owned by our client and are included within the sale including, but not limited to:
Tables and chairs.
5 x refrigerators.
2 x TVs.
4 x flash coolers.
All function room equipment, such as seat covers, table cloths, bows, wedding arch and CCTV system.
Smoking area to rear.
Tenure We are advised Freehold.
Financial Profile Excellent rental income includes:
Social club rental: £17,160 per annum Stewards flat: £4,420 per annum.
Potential for £10,000 per annum from the function room.
There is also £1,000 per annum received from the pool and snooker side of the business.