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Leasehold pub in Radstock

Underhill, Coleford, Radstock, Somerset BA3 5LU | Ref: 94682
For sale
£48,000
To rent
£36,000 p.a.
sidney-phillips
This property is marketed by:
Sidney Phillips

Key Features

Village free house nestled between three towns

  • Two fine character bars
  • Skittle alley/meeting room
  • Spacious three bedroom owners accommodation
  • Car park (25) & outside trade areas (100)
  • Net turnover in excess of £230,000 with strong profits

Location

The Kings Head stands at the centre of the settlement of Lower Coleford which sits beneath the larger village of Coleford. Lower Coleford contains many fine period properties dating from the time when this was an important industrial mining area at the heart of the Somerset coalfields. Coleford is situated on the Mells River in the Mendip Hills, 5 miles west of Frome. The village and civil parish have a combined population of 2,313 according to the 2011 census.

Properties in the vicinity have been tastefully restored by residents, many of whom commute to the local towns of Frome, Radstock and Shepton Mallet or to the nearby cathedral city of Bath. The A367 is located a short car journey away and connects the town of Shepton Mallet to Bath, passing through the towns of Midsomer Norton and Radstock en route.

The original Kings Head pub burnt down in 1830 and was rebuilt in the same year. The property is of rendered and colour washed elevations under a pitched slate roof.

Tensure & price

LEASEHOLD £48,000 to include goodwill and fixtures and fittings.

Stock at valuation in addition. The Kings Head is held on a full repairing and insuring lease agreement from a private individual for a term of nine years, commencing November 2018. The lease falls within the security provisions of the Landlord & Tenant Act 1954.

Rent currently stands at £36,000 per annum, paid monthly in advance, subject to five yearly rent reviews and annual RPI adjustments.

An incoming party will be required to provide a rental deposit to the Landlord of £10,000 in advance. The lease is free of all trade ties.

No direct approach to be made to the business; please direct all communications through Sidney Phillips.

Viewing strictly by appointment only.