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KENT - FREE-OF-TIE PUB BY UNIVERSITY
St. Margarets Banks, High Street, Rochester, Kent, ME1 1HS
Ref: 45764
Leasehold
Key Features
Precis
A tradition pub with a strong local following, enjoying the freedom of an attractive free-of-tie lease.
Location
The Nags Head is situated in the historic town of Rochester in Kent. Sitting on the banks of the River Medway, Rochester lies approximately 30 miles east of London and forms part of the large urban area known as the Medway Towns with a population of approximately 250,000. Rochester is well known for its historic importance and houses a number of attractions including its Norman Cathedral and Castle, Eastgate House and the nearby Chatham Dockyards.
Rochester is easily accessed via the M2 which in turn provides fast access to the M25 at Dartford and the M20 at Maidstone. Railway services are available from Rochester on the Chatham mainline with services into London St Pancras, London Victoria and Faversham.
The Nags Head occupies a notable and prominent three-storey public house situated along the old High Street, an important arterial road between Chatham and Rochester town centre. This Grade II listed property is understood to date from the eighteenth century and is conveniently positioned a ‘stones throw’ from the University For The Creative Arts, student halls and a major riverside development. It is our understanding that the property used to form part of an old police station.
Rochester is easily accessed via the M2 which in turn provides fast access to the M25 at Dartford and the M20 at Maidstone. Railway services are available from Rochester on the Chatham mainline with services into London St Pancras, London Victoria and Faversham.
The Nags Head occupies a notable and prominent three-storey public house situated along the old High Street, an important arterial road between Chatham and Rochester town centre. This Grade II listed property is understood to date from the eighteenth century and is conveniently positioned a ‘stones throw’ from the University For The Creative Arts, student halls and a major riverside development. It is our understanding that the property used to form part of an old police station.
Property
TRADE AREAS
Entrance from High Street directly into PUBLIC BAR. The public bar is presented in a traditional manner with carpeted flooring, part panelled walls and a CENTRAL BAR SERVERY housing a drinks fridge. This area also houses a juke box, TV and bench seating for 20.
Ascending through the property is a SECOND BAR AREA presented with stripped wood flooring, juke box, SWP and large flat screen TV. This area is serviced by its own BAR SERVERY with two double drinks fridges and provides seating for 25+ and space for a further 6 sat at the bar.
This area in turn leads to a POOL AREA with pool table and seating for between 4 and 10.
Offset are LADIES AND GENTLEMEN’S TOILETS.
Ancillary areas include a STORE AREA with two upright stainless steel fridges and a chest freezer. This in turn leads to a fully fitted TRADE KITCHEN equipped with an extensive range of stainless steel commercial catering units.
The property is serviced by a BASEMENT CELLAR with BARREL STORE (with delivery drop to the side of the property), CHILLED BARREL STORE and BOTTLE STORE which is understood to have originally been a cell for the former police station.
OWNERS ACCOMMODATION
At first floor level there is PRIVATE OWNERS ACCOMMODATION comprising of LOUNGE, newly fitted modern KITCHEN and DOUBLE BEDROOM with EN-SUITE.
At second floor level there are TWO FURTHER DOUBLE BEDROOMS and a FAMILY BATHROOM.
LETTING ACCOMMODATION
To the rear of the property there is a guest suite, boasting its own entrance from the rear of the property, comprising of a DOUBLE BEDROOM and a BATHROOM.
EXTERNAL
To the rear of the property there is a TRADE COURTYARD AREA with heaters. Furthermore there are STORAGE OUTBUILDINGS.
Entrance from High Street directly into PUBLIC BAR. The public bar is presented in a traditional manner with carpeted flooring, part panelled walls and a CENTRAL BAR SERVERY housing a drinks fridge. This area also houses a juke box, TV and bench seating for 20.
Ascending through the property is a SECOND BAR AREA presented with stripped wood flooring, juke box, SWP and large flat screen TV. This area is serviced by its own BAR SERVERY with two double drinks fridges and provides seating for 25+ and space for a further 6 sat at the bar.
This area in turn leads to a POOL AREA with pool table and seating for between 4 and 10.
Offset are LADIES AND GENTLEMEN’S TOILETS.
Ancillary areas include a STORE AREA with two upright stainless steel fridges and a chest freezer. This in turn leads to a fully fitted TRADE KITCHEN equipped with an extensive range of stainless steel commercial catering units.
The property is serviced by a BASEMENT CELLAR with BARREL STORE (with delivery drop to the side of the property), CHILLED BARREL STORE and BOTTLE STORE which is understood to have originally been a cell for the former police station.
OWNERS ACCOMMODATION
At first floor level there is PRIVATE OWNERS ACCOMMODATION comprising of LOUNGE, newly fitted modern KITCHEN and DOUBLE BEDROOM with EN-SUITE.
At second floor level there are TWO FURTHER DOUBLE BEDROOMS and a FAMILY BATHROOM.
LETTING ACCOMMODATION
To the rear of the property there is a guest suite, boasting its own entrance from the rear of the property, comprising of a DOUBLE BEDROOM and a BATHROOM.
EXTERNAL
To the rear of the property there is a TRADE COURTYARD AREA with heaters. Furthermore there are STORAGE OUTBUILDINGS.
The Business
Our clients have owner/operated The Nags Head for the past 17 years and are the second owners in the past 42 years, with the previous owner in residence for the preceding 25 years. The business is operated as a wet led local public house serving the needs of the surrounding residents as well as those walking into the town centre from Chatham and beyond. The business is well known for its live music and quiz nights.
It is our understanding that The Nags Head generates a weekly gross turnover in the region of £7,000. The business does provide an ‘on site’ and ‘take away’ food offering via a third-party (accounts will not be available). Further accounting detail will be made available to serious parties following a formal viewing.
The Nags Head is a great opportunity for either a first-time buyer or an experienced operator to take on a well established and well regarded business and further increase trade levels with a more ‘hands on’ approach or by bringing the food offering back in-house.
It is our understanding that The Nags Head generates a weekly gross turnover in the region of £7,000. The business does provide an ‘on site’ and ‘take away’ food offering via a third-party (accounts will not be available). Further accounting detail will be made available to serious parties following a formal viewing.
The Nags Head is a great opportunity for either a first-time buyer or an experienced operator to take on a well established and well regarded business and further increase trade levels with a more ‘hands on’ approach or by bringing the food offering back in-house.
Tenure
LEASEHOLD £89,500 to include fixtures, fittings and goodwill. Stock at valuation in addition.
The Nags Head is held on a full repairing and insuring Lease Agreement from Stonegate Pub Partners. The Lease is for a term of 25 years commencing 28 March 2005. This assignable Lease falls within the security provisions of the Landlord & Tenant Act 1954. Rent currently stands at £25,500 per annum. An incoming party will be required to lodge a security deposit of £6,375 with the Landlord. The Lease is free of all trade ties.
No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.
The Nags Head is held on a full repairing and insuring Lease Agreement from Stonegate Pub Partners. The Lease is for a term of 25 years commencing 28 March 2005. This assignable Lease falls within the security provisions of the Landlord & Tenant Act 1954. Rent currently stands at £25,500 per annum. An incoming party will be required to lodge a security deposit of £6,375 with the Landlord. The Lease is free of all trade ties.
No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.
Licence
A full Premises Licence is held.
Services
All mains services are connected.
Rateable Value: £17,000
LOCAL AUTHORITY
Medway Council: Gun Wharf, Dock Road, Chatham, ME4 4TR
Tel No: 01634 333 333
Rateable Value: £17,000
LOCAL AUTHORITY
Medway Council: Gun Wharf, Dock Road, Chatham, ME4 4TR
Tel No: 01634 333 333