This property is no longer on the market
Pub
Property description & features
- Tenure: Freehold
- Substantial mixed use property
- Public house to the ground floor
- 9 x Rooms to the upper floors
- Current rental income £46,800 per annum
- Potential to convert upper floors to B&B
- Land to the rear with potential for parking
The subject property briefly comprises a ground/basement floor public house and we are informed the upper floors have bed & breakfast (Hotel) usage currently being used as residential accommodation. Possible potential to re-establish the bed & breakfast business subject to checking the building has the necessary consents. There is a good size communal area to the 1st floor with a semi commercial kitchen and bar/service area. Floors 3,4 & 5 being accommodation comprising of 9 room lets. Some en-suite, some with shared bathrooms however with the potential to create all rooms with en-suite bathrooms. Further planning has been granted to convert 1st floor communal & kitchen area into 3 more rooms creating a 12 room HMO.
The ground floor pub is currently owner occupied, but will be sold with vacant possession and we have been advised that it is well performing with a weekly turnover of c.£15,000 per week.
The upper floors comprising of the 9 room lets are let out at a passing rent of £46,800 per annum.
In addition to this, our client has a verbal lease on a large plot of land to the rear of the property which has been let out on a space by space car parking basis to produce further income.
Please note Pattinson Auction have not inspected this property.
Rooms
Location
The subject property is well located along King Street which is the main high street in the heart of the town centre. This property is located within easy reach of local amenities, transport links and schools.
The Kings Head is a nightlife hotspot for many a regular and must visit venue on any night out in Gravesend.
The maritime town of Gravesend is an ideal place for a day out. The borough of Gravesham has the riverside, countryside, historic villages, picturesque parishes and it’s only 24 minutes from London on the High Speed 1 Rail Line. In the vendors opinion this property would make a great future investment for anyone looking to capitalise on the future plans for the area for example the multi million pound theme park intended to be built a stone’s throw from Gravesend town centre.
The Kings Head Sports Bar is located in the town centre of Gravesend, Kent. It is close to all the main shops and the two main shopping centres St Georges and Thamesgate. ...
Accommodation
The subject property briefly comprises a ground floor public house currently operating as Kings Head Sports Bar. Trading figures available upon request.
Trading accounts can be provided to seriously interested parties.
The upper floors comprise of 9 room lets which are currently let out on a short term basis, however they would be suitable for conversion to a B&B to compliment the public house or further conversation of 1st floor to create 3 more rooms, resulting in the living accommodation being used as a HMO.
Tenure
Freehold. TITLE NUMBER: K347828
Rateable Value
The adopted rateable value is £20,250 as of 1st April 2017.
Sourced from VOA.
EPC
We currently await a copy of the Energy Performance Certificate.
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
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Broadband availability and predicted speed
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Energy Performance data and Internal floor area
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