Per annum £27,500 pa
Red Lion at Middleton for Lease 20 year LTA 54 Lease
- Former Restaurant To Let
- Multiple Ground Floor Trading Areas
- Car Parking
- Owners Accommodation
- Potential Letting Bedrooms
- Available Immediately
- Substantial Trade Garden To Rear
- Reference: K010322L
- Type: Public House
- Status: To Let
The Village of Middleton is near two other villages, Cottingham, and East Carlton, benefitting from the popular East Carlton Park, set just off the main A427 between Corby and Market Harborough on the Leicestershire and Northamptonshire border. Good road access to the A14 from Kettering and M1 via Lutterworth. Rail travel to London Kings Cross from Kettering circa 1hour.
The property is a 2-storey detached former restaurant property with ground floor public trading areas, and first floor owners’ accommodation. The upper floors are midway through renovation with some rooms partly converted into letting bedrooms.
There is a substantial garden to the rear with some parking to the front.
Ground floor areas are generally open but sectioned to provide as follows: -
* Dining area - circa 30 covers
* Bar area
* Lounge area
* Further restaurant area
Central bar servery, with catering kitchen and preparation kitchen.
The ladies and gent’s w/c's are in good condition
First floor offers: -
6 bedrooms with partial en suites fitted, further capital required to install bathrooms, carpets, heating, lighting, and furnishings.
We are advised that all main services are connected to the property. These services have not been inspected or tested by this agent.
Offered to let on a new lease based on a 20-year term on fully repairing and insuring terms.
Rental is set at £27,500 pax with annual RPI index linked reviews. Capped and collar 2.5% and 5%.
The business will be free of tie-on drinks and machine income.
3 months’ rent deposit
Maybe suitable for public house or alternative community uses subject to obtaining the necessary consents.
The current rateable value of the property according to the valuation office agency website is £10,250. Interested parties should seek advice from the relevant billing authority, which is Corby Borough Council.
VAT will be chargeable on the Rent and on any Service charges and Landlords Insurance contributions required.
The ingoing tenant will have to contribute £1500 towards the landlord’s lease drafting and legal fees.
Car parking to the front of the property for up to 7 cars off road.
Strictly by appointment with the vendors sole selling agents. Tel: 01780 435072 Email email@example.com You are recommended to contact us in the first instance prior to visiting the property even for an informal viewing.
An early discussion about finance can often save time and disappointment, talk to LLH Solutions about securing independent financial advice from one of our solution partners.