SUFFOLK – TOWN CENTRE PUB & RESTAURANT WITH 4 EN SUITE LETTING BEDROOMS

  • Freehold Price: £395,000
  • Leasehold Price: £20,000
Bungay, Suffolk, England
Seller Ref:94533
Under Offer

SUFFOLK – TOWN CENTRE PUB & RESTAURANT WITH 4 EN SUITE LETTING BEDROOMS

Bungay, Suffolk, England
Seller Ref:94533
  • Freehold Price: £395,000
  • Leasehold Price: £20,000

Overview

Seller Ref: 94533

Description

The Castle Inn is situated in the Suffolk market town of Bungay which lies in the Waveney Valley on the edge of The Broads. Bungay is located 16 miles west of Lowestoft and the Suffolk coast, 17 miles southeast of Norwich and 21 miles southwest of Great Yarmouth. According to the 2021 census, the town had a population of 5,008.

Bungay benefits from a variety of landmarks and amenities which include two primary schools, secondary school, doctors surgery, golf club, fuel station, theatre, museum and the historic Grade I listed Bungay Castle which overlooks The Castle Inn.

The Castle Inn, which is purported to date back to the 1500s, occupies a three-storey, semi-detached, brick building under a pantile roof. It is situated in a prominent position on the desirable Earsham Street neighbouring an independent butchers, fishmongers, deli and greengrocers, where it is only a few hundred yards from the town centre and Bungay Castle.

Leasehold Terms:
LEASEHOLD Premium £20,000 to include fixtures and fittings. Stock at valuation in addition. TERM: For a term of 7 years (term negotiable dependent on covenant strength). LANDLORD & TENANT ACT 1954: Inside Part II Landlord & Tenant Act 1954. ASSIGNABILITY: Fully assignable subject to Landlord’s consent. BOND: The successful purchaser will be required to lodge with the freeholder a deposit equivalent to 3 months’ rent in advance. RENT: Annual rent £20,000 paid monthly in advance. RENT REVIEW: Rent to increase to £22,000 in year 3 and then to £24,000 in year 6. REPAIR LIABILITY: Part repairing and insuring lease agreement. TIE: Free of all trade ties. INSURANCE: The Landlord insures the building, the cost of which is charged to the Tenant by way of an Insurance Rent. VAT: Please note that VAT will not be payable on the premium and rental payments. No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.
Number of Bedrooms:
5
Location Details:
Castle Inn, 35 Earsham Street, NR35 1AF
Is this business relocatable:
No
Is this business home based:
No
Is accommodation included:
Yes
Is this In administrative/receivership:
No
Is stock included:
NA
Website address:
https://www.sidneyphillips.co.uk/business-detail/94533

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