Freehold Tenanted Pub Investment in Dereham, Norfolk

FREEHOLD TENANTED PUB INVESTMENT

DEREHAM, NORFOLK

The Cock occupies 28 and 28A Norwich Street in Dereham, Norfolk, and comprises a tenanted pub and restaurant with function facilities, service areas and residential accommodation. The freehold is being offered as an asset sale and provides an opportunity to acquire an established hospitality property with rental income from the existing commercial lease. It is also noted that the neighbouring property is available by separate negotiation which could provide the opportunity to combine the two properties subject to any consents and agreements that may be required.

The property brings together the different areas needed for a licensed food and drink operation, while the inclusion of a private function space and separate residential accommodation adds to the overall versatility of the premises.

BUSINESS:

The pub is currently operated by a tenant, with the principal customer areas arranged across the ground floor. These include a bar and restaurant, supported by a rear commercial kitchen, separate washing-up room, customer toilets, connecting hallways and a beer cellar.

A dedicated function room is accessed independently from outside, allowing it to operate separately from the main bar and dining areas when required. This provides additional space for private gatherings and events, alongside the property’s day-to-day food and drink trade.

The commercial lease, which is within the Landlord & Tenant Act 1954, runs until the 3rd August 2028, with the tenant paying £1,650 per month, equivalent to £19,800 per annum plus VAT. The proposed transaction is a freehold asset sale rather than the sale of the tenant’s operating business, and no turnover, trading hours or staffing information will be provided.

PREMISES:

The main pub is a Grade II listed building dating from the 17th century. Principally constructed from rendered brick, it is arranged over two storeys and has a traditional cut timber roof covered with pantiles. A later two-storey addition extends to the rear beneath a slate-covered roof, while further single and two-storey sections use a mixture of construction methods including a single-storey dining area with an insulated timber-framed construction, external weatherboard cladding and a fibreglass-clad roof. The property has a mixture of timber casement windows and rooflights, while its interior includes various flooring finishes including timber boards and tiling.

The property benefits from many traditional features such as exposed beams and brickwork, original fireplaces and a large horseshoe shaped decoratively carved bar. These original features sit alongside the practical fixtures and finished required for the present licensed operation. There is also a good size enclosed paved and decked courtyard providing additional tables and seating for customer use.

The main building is connected to mains water, electricity and drainage and benefits from gas-fired central heating.

ACCOMMODATION:

The upper floors of the main pub provide further accommodation comprising an office or sitting room, landing, kitchen, bathroom and attic room. Although described as residential accommodation, these rooms are currently being used for storage.

A separate self-contained maisonette is situated to the rear. Its accommodation comprises a kitchen and dining room on the ground floor, with a sitting room, two bedrooms and bathroom on the first floor.

The maisonette is constructed from a mixture of brick and flint, with timber weatherboard cladding to part of the exterior, pantiled roofs, uPVC casement windows and rooflights. It is connected to mains water, electricity and drainage and has electric heating.

KEY INFORMATION:

AGENTS NOTE: This is a business for sale as a going concern, not an empty premises for sale or let.

CONFIDENTIAL INFORMATION: In order to release further information we require you to complete a short online non-disclosure form. Please contact our office and we will provide full instructions and assist where required.

REFERENCE NUMBER: INV37137E.

TENURE: Freehold.

RENT PAYABLE: £1,650 per month, equivalent to £19,800 per annum plus VAT.

RATES PAYABLE: The tenant of the property is currently responsible for paying the Business Rates due.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

EPC: Full Energy Performance Certificate available on request.

The Energy Performance Certificate shows a rating of ‘50/B’, full document available on request.

PRICE: £295,000.

Comprising the freehold property. Sale subject to the existing lease.

VIEWING: Viewing is strictly by appointment only. Please contact us at your earliest convenience to schedule a time that suits you.

FINANCE: If you require assistance with business financing or commercial mortgages (subject to eligibility), we may be able to help. Let us know if you would like our support, and we will gladly put you in touch with our recommended whole-of-market broker.

BUSINESS TO SELL: Thinking of selling your business? That’s our specialty. If you’re curious about its value, we offer a free, confidential valuation service. Simply pick the day and time that work best for you, and we will provide an honest, professional assessment. Feel free to get in touch with our office at your convenience to book an appointment.

PREMIER MARKETING: We are passionate about showcasing each business in a way that truly stands out. Our listings include high-quality property details and comprehensive information across all major online platforms, as well as our own website. If you want your business to shine, call us to arrange a complimentary valuation.

DISCLAIMER:

1. MONEY LAUNDERING REGULATIONS: Prospective buyers will be required to provide identification documentation and proof of funding during the purchasing process. Cooperation is appreciated to ensure the sale proceeds without unnecessary delays.

2. PARTICULARS: While we strive to ensure all information is accurate and reliable, it serves as a general guide only. Should any particular details be of special importance, please contact us so we can verify the information before you travel to view.

3. MEASUREMENTS: Provided room sizes are approximate and intended solely for general guidance. Prospective buyers are advised to independently verify all measurements to ensure accuracy.

4. SERVICES: Please note we have not tested the services or any of the equipment or appliances.