NORFOLK - PROFITABLE FREE OF TIE LEASE UNTIL 2042

The Bush is situated in Costessey a civil parish situated 4 miles (6.4 km) west of Norwich, Norfolk. The parish comprises two settlements; the long-established town of Costessey (now commonly Old Costessey) and New Costessey, which developed during the first half of the 20th century and has become a suburb of Norwich. The two settlements are separated by the River Tud and arable land. Costessey's northern boundary with Taverham, Drayton and Hellesdon follows the course of the River Wensum which flows to the rear of the property.

Costessey is served by a number of bus links allowing travel to the centre of Norwich where Norwich Station is found providing train links to a number of Norfolk market towns as well as Cambridge, Great Yarmouth and London Liverpool Street. The nearest airport is only 5.8 miles north-east at the Norwich International Airport. Costessey benefits from a variety of notable landmarks and amenities such as the historic Costessey Hall Manor House dating back to 1066, Roundwell Medical Centre doctor’s surgery, Costessey Community Centre opened in 2010, Royal Norfolk Showground, a post office, vets, golf club, as well as 4 primary schools, a secondary school and multiple supermarkets/large shopping venues which can be found within 2 miles of the property.

The Bush occupies a two-storey detached brick building under a Norfolk pantile roof. The property benefits from a stunning rear picnic area/trade garden which leads down onto the banks of the River Wensum.

FRONT ENTRANCE HALL with tiled flooring and access to the MAIN BAR which has seating for 46, open brick feature fireplace, carpet flooring and wooden main bar servery. GAMES ROOM which has seating for 20, an extension of the wooden bar servery, darts oche, carpet flooring, as well as a SIDE ENTRANCE HALL. REAR HALL with doors to both Ladies and Gentleman's TOILETS and external access to the trade garden. INNER HALL with entry to the ground floor CELLAR which is split into two rooms, one of which includes the central heating gas boiler (Worcester Bosch) and external barrel access door. Also found off the inner hall is a fully fitted COMMERCIAL KITCHEN and access to the private accommodation.

PRIVATE ACCOMMODATION
Ground Floor: DINING ROOM. UTILITY ROOM. CONSERVATORY. STORAGE CUPBOARD.
First Floor: THREE DOUBLE BEDROOMS. LOUNGE. BATHROOM with separate WC.
External: Enclosed PRIVATE YARD with a metal LOG STORE.

EXTERNAL
CAR PARK with space for 14 cars. There is a SECOND CAR PARK the adjacent side of the building with space for and additional 18 vehicles. OUTBUILDING (utilised as a pigeon club), BOWLS GREEN with BOWLS CLUB HOUSE (maintained by the bowls club), TWO STORAGE SHEDS, COAL STORE, SMOKING SHELTER. REAR TRADE GARDEN/PATIO with bench seating for 30 and GAZEBO. Riverbank TRADE GARDEN/LARGE PICNIC AREA which proceeds to the riverbank of the River Wensam.

Our clients have operated The Bush since February 2005 and during this time have created and established a positively reviewed profit-making business which offers a relaxed community and family friendly atmosphere. The venue frequently hosts an array of different teams and groups which include the Women’s Institute, fishing club, pigeon club, British Legion, darts team and bowls club, which maintains the stunning bowls green to the rear of the property.

The business is currently affirmed by one part-time staff member alongside a ‘husband and wife’ team that entwine to oversee the positively reviewed service and drinks menu. It is in our opinion that the introduction of a traditional ‘pub grub’ food menu could lead to an increase in turnover. The business is currently supported by a Facebook account. The creation of further social media accounts and a dynamic website could lead to a rise in footfall.

It is our understanding that the Net Turnover for the year ending March 2024 stands at £209,873, resulting in a Net Profit of £42,867 per annum. Further accounting detail will be made available to serious parties following a formal viewing.

LEASEHOLD Asking Price Premium: £30,000 to include fixtures, fittings and goodwill. Stock at valuation in addition.

The Bush is held on a full repairing and insuring lease from Wellington Pub Company/Criterion Asset Management expiring June 2042. The lease falls within the security provisions of the Landlord & Tenant Act 1954 and is fully assignable. Rent at £39,500 per annum paid quarterly in advance, subject to five yearly rent reviews, the next review will take place in 2027. An incoming party with be required to provide a rental deposit to the Landlord equivalent to one quarters' rent. The lease is free of all trade ties. VAT (which should be reclaimable) will be payable on the premium and quarterly rental payments.

No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.

A full premises licence is held permitting the sale of alcohol between the hours of:

12 midday to 12 midnight.

All mains services are connected, the property also benefits from 2 CCTV cameras. Business rates exempt.