Guide price
£375,000
Restaurant for saleThree Horseshoe, Lanchester DH7
About this property
Pub/Restaurant for Sale.
2 years income remaining.
Owner Occupation Available.
Freehold Available.
The Three Horseshoes is situated within 20 minutes’ drive of the beautiful city of Durham. Durham is a historic old city, home to Durham University and a Norman castle, parts of which were used in the filming of Harry Potter. Newcastle can be reached in just over 30 minutes by car.
Description
The property comprises of a restaurant and bar with approximately 90 covers. The property is fully fitted
with a functional kitchen and new equipment included. The property currently operates Tuesday – Saturday. The property is Free of Tie however running contract with Heineken in place. There is a separate enclosed function room for dedicated booking areas, parties and large parties. Normal dining area for lunch and Dinner and bar service from 12:00.
Full permission for 2 small houses in the outbuildings. The buildings are not part of the lease and can be
developed now. A copy of the full planning application is available upon request.
Terms
The property is currently leased to an operator for £23,500 per annum until 2027. There is an opportunity to re-let the property or owner occupy. The Freehold of the property is available at a guide price of £375,000. Current revenue generation available upon request.
Planning
Full permission for 2 small houses in the outbuildings. The buildings are not part of the lease and can be developed now.
Rating assessment
All interested parties are advised to check with the local authority.
VAT
This property to opted to VAT. All rents, premiums and purchase prices quoted herein are exclusive of VAT.
All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.
Legal Costs
Each party is to bear their own legal costs involved in the transaction.
Description
The property comprises of a restaurant and bar with approximately 90 covers. The property is fully fitted
with a functional kitchen and new equipment included. The property currently operates Tuesday – Saturday. The property is Free of Tie however running contract with Heineken in place. There is a separate enclosed function room for dedicated booking areas, parties and large parties. Normal dining area for lunch and Dinner and bar service from 12:00.
Full permission for 2 small houses in the outbuildings. The buildings are not part of the lease and can be
developed now. A copy of the full planning application is available upon request.
Terms
The property is currently leased to an operator for £23,500 per annum until 2027. There is an opportunity to re-let the property or owner occupy. The Freehold of the property is available at a guide price of £375,000. Current revenue generation available upon request.
Planning
Full permission for 2 small houses in the outbuildings. The buildings are not part of the lease and can be developed now.
Rating assessment
All interested parties are advised to check with the local authority.
VAT
This property to opted to VAT. All rents, premiums and purchase prices quoted herein are exclusive of VAT.
All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.
Legal Costs
Each party is to bear their own legal costs involved in the transaction.
Mortgage calculator
Monthly repayment
£1,875 per month
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