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Attractive Community Local For Lease

Saxmundham, Suffolk
Asking Price:
£45,000
Turnover:
£170,000
Net Profit:
Available on request

Free of tie lease

Attractive external trade area

Large Three bedroom, flat with separate kitchen and lounge/diner

Potential to develop extra income stream

Property information

Property:

Leasehold

Leasehold Type:
Existing
Lease Terms:

The property is held under a free of tie lease, at a current rent of £14,000, inclusive of VAT (£11,200 exc VAT p.a), within the Landlord & Tenant Act (1954), for a period of 20 years expiring on 19th March 2027. The lease is subject to a machine tie with 35% of gross income being payable to the landlord. Full lease information can be provided on request.

Leasehold Rent:

£14,000 per annum

Living Accommodation:

1st floor domestic accommodation has private access from the courtyard as well as from behing the servery area and consists of three bedrooms (two doubles), private kitchen, large lounge/diner and bathroom. There is parking for two cars at the rear accessed via a shared driveway.

Location:

With a population of around 4000 the Suffolk market town of Saxmundham lies approximately 10 miles northeast of Woodbridge close to the A12 Ipswich to Lowestoft road, surrounded by Sizewell, Aldeburgh and the coast to the east, Framlingham to the west, and the county town of Ipswich 18 miles to the southeast.

The historic Coopers Dip is situated in a quiet residential area close to the railway station, within a short walk from the town centre.

Premises Details:

The Coopers Dip is a semi detached 2 storey property which has benefitted from extensive refurbishment in recent months. The ground floor provides a largely open plan bar which is sub-divided into three trade areas. Access is on the right hand side of the property into a snug bar which is currently furnished with sofas and an AWP machine.

To the left is the front bar with wooden servery, seating for approximately 14, plus TV screen which provides access to the larger secondry trade area. This area has feature wood cladding, tiled floors and houses the pool table and further TV screen, with seating for 12 plus standing areas, with flexibility for use as a function area. Access to toilets and courtyard trade area is to the rear of this bar. The courtyard area has bench seating for 32 and has gravel and wooden decking areas.

The current tenant operates a wet only offer, but plans to install a pizza oven in the courtyard. A trade kitchen area is situated behind the servery which is currently unused, as are two sizeable storage areas (one accessible internally) which could be developed for further accommodation or letting purposes, subject to the neccesary consents.

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