Property for sale

Freehold Investment, Rooms At No 6, Bakers Yard, Church Street, Oakham LE15

Commercial Investment in Oakham Town Centre

Guide Price £430,000

Gf - Restaurant let on a 10 year lease

Ff - Independent entrance to 3 Letting Rooms

Size - 2 Storey approximately 1,000 sq ft per floor
Guide Price - £430,000
gf Business Rates - rv £9,500 Paid by tenant
ff Business Rates - rv £4,450 sbrr 100%
Legal Fees - Both parties will be responsible for their own fees
VAT - Is applicable on the sale

EPC - D (82)

Freehold investment comprising a 2 storey property with a Ground Floor Restaurant (Cafe Terry's) let on a 10 year lease from Dec 2024 at £15,000 per annum and 3 letting rooms currently operated privately as Rooms at No 6 rated 9.8 on for location

Location

Perfectly positioned just 50m off Oakham High Street and approximately 100m from the Church Street Car Park, Rooms at No 6 are an established destination for overnight stays in Oakham Town in the popular County of Rutland home to Rutland Water, the Rutland Bird Fair and only about 15 miles from Burghley House near Stamford.

Accommodation

Ground Floor - The gf café/Restaurant is around 960 Sq Ft and rated 5* on Google. Set up for Circa 40 covers plus the Bar, servery and Kitchen
First Floor - Laid out as 3 rooms with independent access from Bakers Yard. 2 double and a twin room with key code entry and maintained to a very high standard by the current owner. Rated 9.8 for location on and 4 out of 5 based on factors such as facilities, size, location and services provided

Heating can be individually controlled and is by a gas fired radiator system as is the hot water.

Revenue

The Ground floor is let on a 10 year lease from Dec 2024 at an annual rent of £15,000 per annum with a 3 year reviews and a break option at the end of year 5. The 1954 Act provisions are excluded in the lease. There are no arrears or delayed rental payments.

The First floor revenue is based on an average nightly fee of £100 per night which is significantly increased on key weeks (£85 per night cheapest rising to £150 on key dates). Current revenue will be available once interest in the purchase has been confirmed but with £100 (No VAT is chargeable) average per night and an 80% occupancy would give an annual revenue of circa £85,000. The current owner does not maximise occupancy keeping most weekends free and often refusing bookings for travel. Occupancy rates in 2025 were curtailed at around 55% with significant closure of available dates and in the first quarter of 2026 turnover was circa £1,000 per week

The current owner carries out her own cleaning in order to maintain control, Bed Linen is sent to the local Launderette and all lettings are taken through

Terms

The Guide price of £430,000 reflects the current lease to the ground floor and the existing turnover. There is clear room to improve the turnover and net profit.