Retail - Former Colleys Restaurant, High Street, Lechlade
The original part of the former Colleys restaurant was a three storey early 18th Century Coaching Inn.
The Grade II listed property is a stone building which is rendered under a clay pitched tile roof with a substantial two storey rear extension which was added about 35 years ago. The property has wooden sash windows throughout.
The property most recently has been used as a restaurant with bar area and separate lounge plus two kitchen areas and ancillary storage and facilities. The main areas benefit from solid wooden floors and feature cornicing.
One of the two internal staircases provide access to an office and staff area with W/C facilities. At the front of the property the other staircase leads to customer toilets and also the manager's three-bedroom flat which overlooks the High Street.
Externally the access way forms part of the property with rights afforded to the neighbouring occupier. There is also a small enclosed courtyard.
Energy Performance Certificate: An EPC is not required as the property is a Listed Building.
Lechlade is a small market town situated on the River Thames approximately 13 miles to the north of junction 15 of the M4 via the A361 and the A419. The town is a popular tourist destination with its own marina and bridge crossing the River Thames. The property is situated fronting the southern side of the High Street to the western end of the central retail area.
The property has been measured on a gross internal basis in accordance with the RICS Code of Measuring Practice (6th Edition).
Ground floor: 182.1 sq m (1,960 sq ft)
First floor office/ancillary: 47.5 sq m (511 sq ft)
First floor residential: 83.01 sq m (894 sq ft)
Second floor residential: 34.9 sq m (376 sq ft)
TOTAL: 347.6 sq m (3,741 sq ft)
We are advised that all main services are connected to the premises and confirm that we have not tested any of the service installations and any occupier must satisfy themselves independently as to the state and condition of such items.
The property is a Grade II Listed Building (reference 129012) and is situated within Lechlade Conservation Area. We understand that the property currently has planning consent for a restaurant but all interested parties should make their own enquiries to the Planning Department of Cotswold District Council. Tel: 01285 623000 www.cotswold.gov.uk
We are of the opinion that the property can be used as per its current use or be converted to residential use subject to obtaining the necessary planning consents.
The property is being offered for sale freehold with vacant possession at a guide price of £375,000.
The Valuation Office Agency website lists the property as "Restaurant and premises" with a rateable value of £10,500. The flat is separately assessed at Council Tax Band A.
Interested parties should make their own enquiries to Cotswold District Council to ascertain the exact rates payable as a change in occupation may trigger an adjustment of the ratings assessment www.voa.gov.uk
Under the Finance Acts 1989 and 1997, we believe VAT is not payable on the sale price. We recommend that prospective purchasers establish the implications before entering into any agreement.
Each party is to be responsible for their own legal costs incurred in the transaction.
Alder King Property Consultants
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