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Lucrative Village Freehouse Hotel In Dorset For Sale

Beaminster, Dorset, UK
Freehold Price:
£525,000
Leasehold Price:
£30,000
Turnover:
Not applicable
Net Profit:
Not applicable

Dorset Village freehouse hotel
Six en suite letting bedrooms
Three bedroom self-contained letting apartment
Country bar, restaurant (30), conference room
Integral two bedroom cottage
Patio and gardens, car park

The Parrett Hotel is a roadside village freehouse hotel. It is located beside the A356 which connects the nearby town of Crewkerne in Somerset to the Dorset county town of Dorchester. The UNESCO World Heritage Site, the Jurassic Coast, is accessible by car in less than thirty minutes.

South Perrett is a small Dorset village with a collection of fine, period stone properties combined with some recent modern housing developments. Nearby Crewkerne has a range of facilities including a leisure centre, primary and secondary schools and a Waitrose supermarket. The adjoining village of Misterton includes a railway station (Crewkerne) with regular connections to London Waterloo. The A356 is a popular route to the Dorset Coast when travelling in a north to south direction.

Property Information

Property:

Available as freehold and leasehold

Leasehold Type:
New
Lease Terms:

LEASEHOLD: £30,000 to include goodwill, fixtures and fittings. Stock at valuation in addition.
TERM: 7 years
LANDLORD & TENANT ACT 1954: Outside Part II Landlord & Tenant Act 1954
ASSIGNABILITY: Non assignable
BOND: A bond equivalent to 3 months’ rent in advance plus personal guarantors if the lease is taken as a Limited Company.
RENT: £26,000 per annum, paid monthly in advance
RENT REVIEW: Annual RPI indexation will be added at a minimum of 2.5% and a maximum of 5.5% per annum
REPAIR LIABILITY: Part repairing and insuring lease. This is not a full repairing and insuring lease with the Landlord retaining responsibility for the structure of the building. The Tenant will be responsible for internal maintenance, repair and decoration as well as the decorative condition of the exterior of the property.
TIE: Free of all trade ties.
INSURANCE: The Landlord will insure the building, the cost of which will be charged to the Tenant by way of an Insurance Rent
VAT: VAT will not be payable on the Premium and rental payments.
OPTION TO PURCHASE: To be agreed at a fixed price and exercised within the first 3 years of the lease.

Leasehold Rent:

£26,000 per annum

Other Information

Leasehold asking price:
£30,000