Crown Inn, High Street, Lechlade, Gloucestershire

The village of Lechlade stands on the banks of the River Thames in the Upper Thames Valley, at the confluence of the Thames and the River Leach, from which the town takes its name.

This is a popular residential town and has a population of over 3,000 and is one of the jewels of the Cotswolds. The subject property stands in the main street.

The Property
The Crown Inn is a terraced property with a coaching arch to the side, through which access is gained to the rear. The property is Grade II Listed, dating back to the early 17th century, and is arranged over three storeys beneath a pitched tile roof.

In addition to two bars and a kitchen at ground floor, there are three bedrooms and three bathrooms across the first floor. There is a rear trade garden, plus three en suite letting bedrooms in a former coach house.

The Crown Inn has been closed for some time, certainly in excess of two years, and is in need of refurbishment, though it does retain a wealth of period charm and character.
The property is briefly described as follows:
Trade Areas
MAIN BAR having boarded floor throughout, heavily beamed ceiling, part exposed stone walls and part tongue & groove wainscoting to walls. Fully equipped BAR SERVERY with rustic pine panelled front. Assorted seating for approximately 20, but with standing space for more. Fireplaces to either end of the room, one with cast iron solid fuel burner.

Rear PUBLIC BAR with boarded floor, heavily beamed ceiling, exposed stone walls and tongue & groove wainscoting. Fireplace with cast iron solid fuel burner. This room is unfurnished but could seat a further 30.

LADIES’ & GENTLEMEN’S TOILETS.

KITCHEN fitted to domestic standard but has part tiled walls and tiled floor.

Owners’ Accommodation
FIRST FLOOR
Large PRIVATE LOUNGE with small galley style KITCHEN AREA off. BEDROOM 1 (double), BEDROOM 2 (double) with EN SUITE SHOWER ROOM and small WALK-IN DRESSING ROOM off. FAMILY SHOWER ROOM with wash basin, WC and shower. Staircase to:

SECOND FLOOR
Further accommodation, utilised almost as a separate FLAT, comprising two large rooms, both with vaulted ceilings, small kitchen area and a shower room with wash basin, WC and shower.
Letting Accommodation

In a former stone COACH HOUSE, located at the very rear of the plot, are THREE INDIVIDUAL, DOUBLE SIZE EN SUITE LETTING BEDROOMS.

External
The rear of the property is accessed via the former coaching arch and currently offers a covered lean-to area adjacent to the rear of the kitchen, utilised as a service compound, in two sections.

There is a seated BEER GARDEN, part of which is covered, off which is a quasi retail unit which had previously been utilised by a local brewer. When fully furnished, the external area could cater for 50+ seated customers.
We understand the business has been closed for over two years and has been acquired by our client as an investment. No trading accounts are available. Prospective purchasers will need to reach their own conclusion as to the potential trade and profitability which can be enjoyed at this outlet.
FREEHOLD £275,000. The property is to be sold subject to an overage agreement in favour of the seller for a term of 80 years. A buyer will be responsible for paying to the seller the sum of £120,000, index linked, if change of use to residential is obtained.

Alternatively, leasehold:

LEASEHOLD: NIl Premium
TERM: Negotiable. The client is prepared to consider applications for any length term.
LANDLORD & TENANT ACT 1954: Inside Part II Landlord & Tenant Act 1954.
ASSIGNABILITY: Fully assignable subject to Landlord’s consent.
BOND: A bond equivalent to six months’ rent in advance plus personal guarantors if the lease is taken as a Limited Company.
RENT: £24,000 per annum, paid monthly in advance. However, our client appreciates the business is currently unfurnished and closed, therefore applications with a reduced initial or rent-free period will be considered.
RENT REVIEW: Subject to yearly rent reviews in line with RPI
REPAIR LIABILITY: Full repairing and insuring agreement.
TIE:Free-of-tie.
INSURANCE: The Landlord will insure the building, the cost of which will be charged to the Tenant by way of an Insurance Rent.
VAT:VAT will be payable on the Premium and rental payments.
A Premises Licence is held.
All mains services are connected.
Rateable Value: (TBC)
Local Authority: Worcestershire County Council –