An Isle of Wight pub is on the commercial property market, and the lease to the property on Quay Street in Yarmouth could be yours.
The Kings Head boasts one of the highest footfall areas of the town, says agent Gully Howard, and enjoys a location close to the Isle of Wight ferry route to Lymington, operated by Wightlink.
The pub has a central bar and has recently undergone a £100,000 refurbishment and the property spans 446m² (4,800ft²), with space for 60 covers inside.
The lease is on the market for offers “in the region of” £29,995 leasehold, goodwill, fixtures, fittings, plus stock at valuation, plus an annual rent of £80.000.
Gully Howard says this is a profitable business, with potential to further develop the courtyard and there is also the opportunity to generate more income by developing the first floor accommodation into seven rooms.
The premises is held on a lease, with 20 years remaining and a current rent of £80,000 per annum. The pub is free from tie.
For more, contact Gully Howard Commercial Property's Gavin Chambers or Morgan Williams on 01983 301434, or email gchambers@gullyhoward.com or mwilliams@gullyhoward.com
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