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| THE CRANBOURN REST, 61 ST JAMES STREET, NEWPORT, ISLE OF WIGHT, PO30 1LQ |
Guide: £160,000 - £170,000 |
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PART LET TOWN CENTRE PROPERTY WITH PLANNING AND POTENTIAL
Currently Part Let At: £5,064 Per Annum
Situated in the heart of the Island's County Town, the Grade II Listed Cranbourn Rest traded as a public house for many years and more latterly as a restaurant.
The majority of the building is at present vacant and considered ideal for continued use. Alternatively, Planning Consent has been granted for conversion of the building into a dwelling.
The current occupier of the single storey side extension is holding over at the end of a nine year lease. We understand that the tenants have indicated a preference to remain in the property and negotiate a new lease, but prospective bidders are advised to make their own enquiries.
Main Building
Ground Floor
Entrance hall, kitchen area, secondary kitchen area and office.
First Floor
Landing, large office room, ladies and gents cloak rooms with W.C.’s and large walk-in store.
Second Floor
Two further rooms.
Side Extension
Reception area, small kitchen and cloakroom/W.C.
Tenancy
The single storey side extension, with one parking space, was let for a term of nine years from 31st August 2000 and currently paying a rental of £5,064 per annum plus a maintenance charge of £3,375 per annum.
Outside
Car park/yard to the rear.
Planning
Planning Permission has been granted by the Isle of Wight Council, under ref: P/01279/09-TCPL/16474/G, dated 11th September 2009, for internal alterations and conversion of the property into a dwelling to include single storey rear extension to form lounge, subject to conditions. A copy of the Planning Consent and proposed plans are available for inspection at the Auctioneer's Office.
Freehold with Part Vacant Possession
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