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The Old Bakehouse Quality Square, Ludlow, SY8

Leisure for sale

POA
POA
Total price
2073Sq Ft
Space

The property comprises an attractive three storey property located in the town centre of Ludlow. The commercial part of the property trades as a restaurant/wine bar arranged over the ground and part of the first floor and benefits from a variety of features internally and is attractively fitted out.

The premises benefit from an outside seating area within Quality Square.

The property also benefits from, within its ownership, two apartments that benefits from a self contained access.

The property is of traditional brick construction under a tiled roof cover.

SITUATION

The property is situated fronting onto Quality Square in the town centre of Ludlow. Quality Square is just off one of the main retail streets in the town centre and all local amenities are within close proximity of the property.

The surrounding occupiers are in mixed use, with one of the town's main car parks being within close proximity.

Ludlow is a sought after, established market and tourist town, with a population of circa 11,000. It was voted in The Times recently as one of the loveliest towns to live in.

Ludlow has a reputation for the quality of its food and drink, boasting excellent bars and restaurants, encouraged by the area's abundance of quality producers.

Every September the town is filled with food lovers from all over the UK and beyond for the annual Ludlow Food and Drink Festival.(All measurements are approximate)

Ground Floor

Restaurant/Cafe 78.9 sq m (847 sq ft)

Comprising bar, kitchen and toilet facilities

First Floor

Restaurant/Cafe 29.91 sq m (321 sq ft)

Accessed externally

Two Flats

First Floor (Flat 1) 47.09 sq m (507 sq ft)

Providing a living area, kitchen, bedroom and bathroom

Second Floor (Flat 2) 36.7 sq m (395 sq ft)

Providing a living area, kitchen, 2 bedrooms and bathroomThe premises is offered for sale freehold, subject to the existing occupational

tenancy, under Property Title Number SL78616.

The property is being sold subject to the following occupational lease;

A lease between Parkers European Holdings Limited and Pubs & Bars Limited

(subject to personal guarantees) for a term of 10 years from the 1st of November

2017.

There are rent reviews every three years (with the next review being due on the 1st of November 2020).

The current rent passing is £28,000 per annum.

A copy of the lease is available from the selling agents upon request.We have made non-verbal enquiries to the local charging authority and we have been advised as follows:

Rateable Value £12,500

Rates Payable £6,000

• The property is located in the centre of the sought after town of Ludlow.

• The property benefits from a valuable A4 Planning Consent to the commercial section of the property.

• The property comprises two attractive self contained one/two bedroomed apartments benefiting from a self contained entrance.

• Secure rental income of £28,000 per annum.

INVESTMENT SUMMARY

1. The property is located in the centre of the sought after town of Ludlow.

2. The property is let on a Tenants Full Repairing and Insuring Lease providing approximately a further 9.5 years of secure income.

3. The property benefits from a valuable A4 Planning Consent to the commercial section of the property.

4. The property comprises two attractive self contained one/two bedroomed apartments benefiting from a self contained entrance.

5. Further significant asset management opportunities in the future.

6. Secure rental income of £28,000 per annum.

Listed Features

  • Use Class - A4
  • Parking
  • Restaurant
  • Pubs/Bars/Clubs
  • Kitchen
  • WC Facilities
  • Multiple floors
  • No FRI Lease
  • Restaurant
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