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52 High Street, Bridgnorth, WV16 4DX

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Property Overview

Purchase Price: £UNDER OFFER
Type: Investment Properties
Size: 5,126 sq. ft / 476 sq. mtrs
Tenure: For Sale
Description:

Detailed Information

Location

Bridgnorth is an affluent market town located on the banks of the River Severn with good connections to Shrewsbury, Telford and Wolverhampton. Bridgnorth is well known for its tourist attractions to include the famous Severn Valley Railway, the Cliff Railway and its castle.


The subject property is located in a prominent position on High Street in close proximity to the Town Hall. The High Street is home to a number of local and national operators to include Fatface, Bodycare, The Edinburgh Woollen Mill, WH Smith and Tanners Wine Merchants. In addition High Street is home to the local market which attracts a large amount of shoppers and visitors to the area.

Description

The four storey, Grade II* Listed premises is of traditional timber frame construction surmounted by a pitched tile roof. The premises has for hundreds of years been a public house known locally as The Swan, until approximately 5 years ago when it underwent a significant overhall and refurbishment of the ground and part first floor to create a restaurant / bar. The entrance to the ground floor is set back from the pavement behind a period oak canopy, the open plan bar / restaurant has a small waiting area to the front leading to the two tiered dining area with bar and disabled W.C. facilities. There are two sets of stairs towards the rear of the premises that lead to the public W.C. facilities and also the kitchen, stores and staff areas. Towards the front of the property is a cellar providing useful storage and has the benefit of a former cellar drop from the street. A set of stairs at the front of the property provide access to the former living quarters which comprise large lounge / living area overlooking the High Street and spanning the width of the property, bathroom, kitchen and utility. Stairs off the landing lead to the second floor where there are 3 further rooms / bedrooms and a further 2/3 rooms in the attic. The living quarters offer excellent scope for refurbishment and potential to create a number of apartments subject to obtaining the necessary consents. Double gates to the side of the property provides access via a private passage to the large rear yard which could be utilised for al fresco dining or, potential to develop this area to provide mews style accommodation subject to obtaining the necessary consents. There is a small single storey outbuilding providing storage and W.C. facilities requiring modernisation.

The property offers numerous opportunities either to be retained as an investment, the possibility of an owner occupier looking for a potential turn key premises or for a developer looking to enhance and maximise the available accommodation subject to obtaining the necessary consents.

Accommodation

All areas are approximate and measured on a Net Internal Basis

  Sq.m Sq.ft
     
Ground Floor 193.43 2,080
First Floor 207.72 2,236
Second Floor 40.74 438
Third Floor 34.44 370
Cellar 60.00 645
     
Total 536.33 5,773

Tenure

The property is currently held under a lease to Prezzo Limited for a term of 25 years from 2015 at £55,000 per annum exclusive. There are 5 yearly rent review provisions and a tenant only break option at the 15th anniversary (10 years unexpired).

Price

Offers in the region of £650,000 for the freehold interest subject to the existing tenancy.  UNDER OFFER

Business Rates

The property has a rateable value of £44,250

Viewing

Strictly via the agent Michael Tromans & Co LLP

01902 425 646

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Michael Tromans & Co is the trading name of Michael Tromans & Co LLP. Michael Tromans & Co LLP is a Limited Liability Partnership registered in England and Wales.
Registered Office: 6 Waterloo Rd, Wolverhampton, West Midlands WV1 4BL. Registered No. OC358112.

MISREPRESENTATION ACT 1967: Michael Tromans & Co. for itself and for the vendors or lessors of this property whose agents they are given notice that the particulars are a general outline only for the guidance of intending purchasers or lessees, and do not constitute an offer of contract. All descriptions and any other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of them. No employee of Michael Tromans & Co. has any authority to make or give any representation or warranty whatever in relation to this property.