Beautiful Restaurant/Pub in Historic Newark - Vacant Possession With Partial Income

Key Features

• Beautiful Condition Throughout
• Grade II Tudor Pub, Now Trading as a Restaurant
• 2am Licence
• 100+ Covers
• Event Spaces

Description

The 16th century building has been fully refurbished with the the ground floor laid out as a modern public house and Thai restaurant with a range of table, bar and couch seating. The first floor includes a spacious bar area. The second floor houses a double height event room and a fully fitted commercial kitchen. There is a great outside seating space to the front of the premises.

Available area

The accommodation comprises the following areas:

Location

Newark-on-Trent is an attractive historic market town and this property occupies a prominent position in Market Place, with the bustling market trading 5 days a week. Operators in Market Place include JD Wetherspoon, Starbucks, Toni & Guy, Greggs and Boots among a host of national and independent cafés and retailers.

Tenure

We are offering a new, free of tie, Full Repairing and Insuring lease for a term of years to be agreed. The freehold with vacant possession is also available. There is currently an aspect of the property which produces an annual rental income of £33,000 pax.

Quoting Rent

Offers in the region of £60,000 per annum exclusive.

Freehold Price

Offers in the region of £1m.

VAT

The rent and any other price quoted may be subject to VAT.

Planning/Licence

The premises benefit from Sui Generis planning use and a premises license allowing the sale of alcohol until 1am on Sunday to Thursday and 2am Friday to Saturday.

Holding Deposit

A holding deposit will be required to secure the property; the deposit will buy a period of exclusivity and will be held in the CDG Leisure client account.