52 High Street, Bridgnorth, WV16 4DX
|Purchase Price:||£UNDER OFFER|
|Size:||5,126 sq. ft / 476 sq. mtrs|
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.
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.
All areas are approximate and measured on a Net Internal Basis
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).
Offers in the region of £650,000 for the freehold interest subject to the existing tenancy. UNDER OFFER
The property has a rateable value of £44,250
Strictly via the agent Michael Tromans & Co LLP
01902 425 646