https://www.thelandsite.co.uk/files/properties/6f952b66f8f211ea98240afeec538f48/1444-64d0d27cab076247292616.jpeg

Investment for sale by auction in Worcester

Bridge Hotel,, Stanford Bridge, Worcester, Worcestershire, WR1 1DB | Ref: 86213
For sale
£375,000
AUCTION PROPERTY
sidney-phillips
This property is marketed by:
Sidney Phillips

Freehold £395,000 - For sale by public auction on Thursday 18th April 2024

Key Features

  • Investment Sale
  • Substantial Riverside Public House
  • Bar/Restaurant
  • Three Bedroom Owners Accommodation
  • Two Additional Self Contained Flats
  • Good Gardens and Car Parking
  • Rental Income of £36,000 pa—9% Yield
  • Includes former camp site (15 tourers) of 1.34 acres

Location

The village of Stanford Bridge stands on the River Teme on the Herefordshire/Worcestershire borders some 14 miles from the Cathedral City of Worcester, but more conveniently located for the nearby market towns of Bromyard, Tenbury Wells and Bewdley all of which are approximately 9 nine miles equidistant. The Wyre Forest National Nature Reserve is nearby, as is the well known beauty spot of Clee Hill. Shelsley Walsh renowned for its annual vintage car hill climb is the neighbouring village. 

The Bridge Hotel is a substantial Victorian property with Mock Tudor elevations being a substantial building of in excess of 6,000 square feet. It offers three separate trading areas, three bedroom owners accommodation and two separate flats. It has an excellent enclosed rear trade garden as well as its own car park. It is currently let to a third party tenant and is available for purchase as an investment. 

Property

TRADE AREAS

The MAIN LOUNGE BAR is an attractively furnished room in three sections with part carpeted and part boarded floor, tongue and grooved panelled walls and feature chimney breast with exposed antique bricks and two fireplaces with real effect fires currently installed. The room has quality ladder back farmhouse style bar chairs to assorted tables currently arranged for 40 customers including stools to servery area. The bar servery has tongue and grooved panelled frontage and mirror display back fitting. 

PUBLIC BAR and GAMES ROOM in two sections, has boarded floor throughout. The bar area has fixed seating and loose bar chairs currently arranged for 20 plus customers. Fireplace with brickette back fitting and feature marble mantle piece. The games area has assorted loose seating, pool table, darts area and double door access to the rear.

There is a further trade room located to the rear of the trading areas, its is carpeted, has tongue and grooved panelled walls and currently has assorted seating for 20 or so customers. It could be a private dining room or restaurant

Off the inner hallway is a set of LADIES’, GENTLEMEN’S and DISABLED TOILETS.

CATERING KITCHEN which is of good size, comprehensively equipped with full selection of stainless steel catering effects and work surfaces. Altro nonslip flooring, part tiled and part sealed walls and four section ceiling fitted galvanised extraction canopy.

BASEMENT— BEER CELLAR

OWNERS ACCOMMODATION

FIRST FLOOR

LOUNGE. KITCHEN, BATHROOM. BEDROOM 1 of double size. 

SECOND FLOOR

THREE DOUBLE BEDROOMS. BATHROOM.

FLATS

Located at first floor are two independent one bedroom flats with their own separate external entrance, although it would be easy for these to be incorporated within the existing owners accommodation.

  • FLAT NO. 1 comprising KITCHEN/LIVING ROOM with fitted units. DOUBLE BEDROOM with en suite shower room and suite of wash hand basin, WC and shower.
  • FLAT NO. 2 comprising KITCHEN/LIVING ROOM with fitted units. DOUBLE BEDROOM with en suite shower room and suite of wash hand basin, WC and shower.

CAMP SITE

Opposite the pub and beyond the car park is a former CAMP SITE which is now overgrown. It extends to 1.34 acres and previously had consent for 15 touring vans, as well as additional camping.

EXTERNAL

To the front of the property is a PATIOED AREA with picnic style bench seating. There is a further YARD AREA to the rear with some private parking spaces which can be utilised with the independent flats. There is a brick built OFFICE UNIT (3 metres x 20 metres). To the rear of the property is a feature TRADE GARDEN which is terraced, block paved at lower level and patioed at upper level. Separated by wooden fencing and at lower level there is a covered heated and illuminated pergola/smoking area with fixed seating. 

Beyond the trade garden is a SHED and COMPOUND/STORAGE AREA.

Tenure

FREEHOLD GUIDE PRICE £375,000 to include fixtures and fittings. 

The pub is currently let on a five year furnished tenancy which commenced in February 2023. The passing rent is £24,000 per annum, fixed for the two years of the term and it is free of any trade tie.

The two flats are currently let on six months shorthold tenancies at a monthly rental of £500 each ie. a combined annual income of £12,000. These three lettings together provide an annual rental income of £36,000 per annum. 

VAT

This property has been elected for VAT. However, as it is being sold as an investment and will be treated as a transfer of a going concern (TOGC), VAT will not need to be charged. However, the buyer will need to make a renewed election to tax. 

All communications to be directed through Sidney Phillips. 

Viewing strictly by appointment only. 

COMPLETION

Completion to take place within 28 days of the Auction, ie 16 May 2024 

VIEWING

Please telephone the Auctioneers on 01981 250333. VIEWING STRICTLY BY APPOINTMENT ONLY.