Church Street, Bodicote, Oxfordshire

Property:
The subject property, The Bakers Arms (more recently branded The Spice Room) is an attractive stone-built Cotswold pub and restaurant which is Grade II listed and dates back to the end of the 17th/early 18th century. It is constructed of Headington stone beneath a pitched slate roof and offers interconnecting trade rooms in four sections, four-bedroom owners' accommodation across two floors and a rear trade garden. It stands close to the parish church and is right in the heart of the village where there are two other public houses. The property is briefly described as follows:

TRADE AREAS
The trading areas consist of two interconnecting bars on split levels with boarded floor throughout with part exposed stone walls and central BAR SERVERY. When fully furnished these two interconnecting rooms will be able to cater for 40 - 50 customers seated.
Rear RESTAURANT, again in two sections with boarded floor and beamed ceiling and able to cater for another 40 - 50 customers. Centrally located between these two trading areas is the CATERING KITCHEN which has tiled floor, fully sealed walls and extraction canopy but is otherwise unfurnished.
LADIES’ and GENTLEMEN’S TOILETS
Basement CELLAR.

OWNERS' ACCOMMODATION
Located at first floor and with its own separate external entrance and arranged as follows:
Large domestic LOUNGE with slightly vaulted ceiling. KITCHEN with fitted units and sufficient space for a full-size dining table. BATHROOM with suite of wash hand basin, WC and bath. TWO DOUBLE BEDROOMS. Access from a separate staircase to a further area dividing TWO FURTHER BEDROOMS, one at first floor with EN SUITE BATHROOM and another at second floor.
At second floor; TWO DOUBLE BEDROOMS which interconnect.

BARN
Attached to the main building and with access from the rear dining room is a large BARN which is stone built and has a mezzanine style loft, vaulted ceiling with corrugated iron room and is 5m x 10m. Brick paved floor throughout.

EXTERNAL
Enclosed rear TRADE GARDEN which is surrounded on two sides by the natural shape of the building and on another a neighbouring property and on the fourth a large high stone wall constructed of mellow Oxford/Headington stone. There is a raised, covered decked area and this area is illuminated.

Business:
Our clients are investors who acquired this property from a national Pub Company. We understand the business has been closed for the last three years. We therefore have no recourse to any trading figures or results, and prospective purchasers/tenants will need to reach their own conclusion as to the potential trade and profitability which can be enjoyed at this outlet.

Tenure:
FREEHOLD £265,000

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 £100,000, index linked, if change of use to residential is obtained.

The Property is elected for VAT. VAT will be levied on the sale price at the standard rate. Purchasers may wish to satisfy themselves with independent professional advice that this VAT may be reclaimed.

Or, alternatively:

LEASEHOLD: Ingoing £5,000 to include the trade inventory.
TERM: Negotiable. he client is prepared to consider applications for any term length.
LANDLORD & TENANT ACT 1954: Inside Part II Landlord & Tenant Act 1954
ASSIGNABILITY: Fully assignable subject to Landlord’s consent
DEPOSIT: A deposit equivalent to 6 months’ rent in advance plus personal guarantees 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 all trade ties
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

No direct approach to be made to the business; please direct all communications through Sidney Phillips.

Viewing strictly by appointment only.

Licence:
A Premises Licence (PRM0351) is held permitting the retail of alcohol:
Monday to Thursday: 11:00 – 01:00
Friday and Saturday: 11:00 – 02:00
Sunday: 11:00 – 00:00