Chequers 10 Stratton Rd 3,428 sq ft Retail Property Norwich NR10 3AY £690,000 (£201.28/sq ft) 8.50% Net Initial Yield

Located in the village of Hainford within the district of Broadland in the county of Norfolk, 8.7 miles (14.0 kilometres) north of Norwich and 16.2 miles (26.0 kilometres) south of Cromer. The Chequers is situated fronting Stratton Road in a rural residential area and in close proximity to the surrounding villages where operators such as Rose and Crown, Fox and Black Swan Inn are located.
Freehold public house investment The property comprises the ground and first floor of a two storey detached building with painted brick elevations beneath a pitched and hipped roof. There is a single storey detached outbuilding to the rear with brick elevations beneath a pitched and hipped roof.
Entire property let to The Chequers Hainford Limited which forms part of Snug Hospitality who operate 10 pubs Property arranged over two levels Site extending to 1.04 acres Current rent of £61,736 per annum Lease expires February 2037 The rent is subject to five yearly open market rent reviews and annual uncapped RPI increases (except in the open market review year) We are instructed to invite offers in excess of £690,000 (8.50% NIY) Business unaffected by sale Ground Floor: The ground floor provides an open plan trading area with seating on loose tables, chairs and bench seating for 90 customers. Ancillary areas comprises customer WC's, cellar and trade kitchen. First Floor: The first floor provides the managers accommodation which comprises two bedrooms, kitchen, bathroom and living room. Outbuilding: There is a separate single storey outbuilding to the rear used for storage. Externally: There is a beer garden to the front, side and rear with seating on wooden benches and tables and chairs for 240 customers. There is parking to the front for 25 vehicles.
Entire property let to The Chequers Hainford Limited on a 15 year lease from 28 February 2022 at a current rent of £61,736 per annum which is subject to five yearly open market rent reviews and annual uncapped RPI increases (except in the open market review year). A rent deposit of £14,746 is held by the landlord.
The property is Grade II Listed but not situated within a conservation area.
The fixtures and fittings are currently owned by the occupational tenant.