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High Street, Higham Ferrers NN10 4 bed character property for sale
High Street, Higham Ferrers, NN10 8BJ
£640,000
High Street, Higham Ferrers, NN10 8BJ
£640,000
Our Summary
- A unique development / investment opportunity, as a Freehold investment, trading as a public house, restaurant or other business opportunity in continuation with new or existing tenancy either now (by arrangement) or within two years OR, as a development opportunity for a number of alternative uses (subject to planning)Plans have been drawn up, but not submitted for planning, currently focusing on two new build houses and conversion of the pub into apartments: 3 x 2 bedroom apartments, 4 x 1 bedroom apartments (conversion of the existing building) and 2 x 3 bedroom new build houses (within the carpark)
- Asking Price - The asking price for the entirety is £640,000 freehold (plus VAT, if applicable - example figure based on £640,000 would total £768,000 including VAT)Development Potential - Plans have been drawn up, but not submitted for planning, currently focusing on two new build houses and conversion of the pub into apartments: 3 x 2 bedroom apartments, 4 x 1 bedroom apartments (conversion of the existing building) and 2 x 3 bedroom new build houses (within the carpark)
- Outside - Pub Garden - Currently laid with artificial lawn with seating, but could be converted to more parking, or alternatively the garden could be extended more in to the car park
- Development Potential (subject to planning permission)
Description
This is a unique investment opportunity, offering a freehold property that can be traded as a public house, restaurant, or other business, or developed into alternative uses subject to planning permission. The property currently operates as Joe's Bar, a private members club, with a full repairing lease expiring in July 2027. The long-standing tenant pays £33,000 per annum in rent, increasing to £37,000 per annum by 2026/27. The property has development potential, with plans drawn up for two new build houses and the conversion of the pub into apartments. The asking price is £640,000 freehold, plus VAT if applicable. The property is situated on the High Street, close to the turning to Northampton Road and Tollbar, and has a Rateable Value of £12,500. Viewings can be arranged through the sole selling agents, Mike Neville Estate Agents.