Mixed use

SOLD AT AUCTION FOR £453,000

Freehold investment opportunity located comprising of shop, restaurant, one bedroom cottage and managers flat, currently let producing £39,200 per annum

An exciting chance to acquire this historic Freehold property, dating back to the 16th century, which is being sold with the benefit of current leases, delivering £39,200 per annum.

This well-maintained property has recently undergone re-ridging and a thorough overhaul of its thatched roof. The restaurant, which accommodates approximately 40 guests inside, also features a courtyard terrace for additional dining space. It includes a one-bedroom manager's flat and a separate one-bedroom cottage. Additionally, there is a lock-up gift shop.

Both the restaurant and shop are leased on 10-year terms.

Located in the picturesque and sought-after village of Horning, this property is steeped in history and charm, overlooking the River Bure. The name "Horning" originates from Old English, meaning "folk who live on high ground between rivers," reflecting its idyllic setting.

Staithe N Willow Restaurant and living accommodation Ground Floor.
Entrance: two separate cloakrooms, serving area, restaurant, snug area, kitchen, two store rooms. door to enclosed private courtyards.

First floor:
Sitting Room, kitchen/dining area, bedroom and ensuite shower room.
Willow Cottage Ground Floor:
Entrance Hall, Kitchen and bathroom

First Floor:
Bedroom and sitting room
Lavender and lace gift shoppe Shop area, kitchenette and cloakroom
Freehold Sale The freehold interest in the property is being offered for sale, which include both the commercial and residential elements along with the associated leases. Full details, including lease terms, rental incomes and other legal documentation can be obtained through the legal pack.
Business Rates Business rates will be the responsibility of the occupier.

The premises have the following assessment:-

Staithe "N" Willow 16 Lower Street, Horning NR12 8AA
Description Restaurant & premises
Rateable Value (from 1st April 2023) £8,300

Lavender & Lace Gift Shoppe, The staithe, Horning, NR12 8AG
Description Shop and premises
Rateable Value ( from 1st April 2023) £3,000
Viewings Viewing is strictly by appointment only, please contact the Norwich office
Council Tax Band Flat - A

Tenure: Freehold

EPC Rating: D

Administration Fee: £1200 inc VAT payable on exchange of contracts.

Buyer's Premium Fee: £900 inc VAT payable on exchange of contracts.

Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.