Market Town Centre Freehouse In Bishops Castle For Sale

Property Information

Property:

Available as freehold and leasehold

Leasehold Type:

New

Lease Terms:

LEASEHOLD: £25,000 to include goodwill and fixtures and fittings. Stock at valuation in addition. 

TERM: Six years.

LANDLORD & TENANT ACT 1954: Inside Part II Landlord & Tenant Act 1954.

ASSIGNABILITY: Fully assignable subject to Landlord’s consent.

BOND: A bond equivalent to three month’s rent in advance.

RENT: £24,000 per annum + VAT, paid monthly.

RENT REVIEW: Subject to rent reviews every third year of the term.

REPAIR LIABILITY: Part repairing and insuring lease agreement. This is not a full repairing and insuring lease with the freeholder retaining responsibility for the structure of the building. The lessee 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 be payable on the rental payments.

Leasehold Rent:

£24,000 per annum

Living Accommodation:

PRIVATE ACCOMMODATION
The accommodation is split into three apartments.

First Floor:
CONVERTED HAY LOFT: A studio flat with feature beamed, vaulted ceiling. It comprises a KITCHEN area with modern fitted units and central island, LIVING SPACE housing bedroom and lounge, SHOWER ROOM, and separate WC.

The studio flat is located adjacent to the snooker room which could easily be incorporated if no longer required for trade purposes.

Also at first floor is a SECOND FLAT consisting of FOUR ROOMS: TWO DOUBLE and TWO SINGLE BEDROOMS, separate KITCHEN and a SHOWER ROOM. This could easily be a three bedroom flat, using one of the bedrooms as a lounge.

Second Floor:
At second floor is a further FLAT with large LIVING SPACE incorporating KITCHEN/DINER/LOUNGE, TWO BEDROOMS (single and double), and a family SHOWER ROOM.

Location:

The market town of Bishops Castle stands in West Shropshire in an area known as the Marches, close to the Offa’s Dyke Path walk. It is a popular town that serves a wide agricultural community and has a population of 1,630. It attracts visitors throughout the year, particularly those with an interest in country pursuits, and those attracted by the town’s Railway and Transport Museum. Walking and fishing are particularly popular, especially with the forementioned Offa’s Dyke footpath, and the Kerry Ridgeway, as well as the Shropshire Hills with the renowned Long Mynd in close proximity.

At the very heart of the town is The Kings Head which occupies a prominent site on the main ‘High Street’. It is a centuries old building dating back to the early 19th century, with a wealth of period charm and character that is well presented and maintained. It is being offered for sale after 15 years in the same owners hands, and has an extremely well established and consistent level of local trade. The Kings Head offers further scope for the reintroduction of food (there is a fully equipped catering kitchen), as well as conversion of the extensive, seven plus bedroom accommodation into en suite letting bedrooms.

Other Information

Leasehold asking price:

£25,000 - Furniture / Fixtures included