High Street, Southwold
For Sale £75,000
The Post Office is situated on the bustling High Street in the quintessential seaside town of Southwold. Southwold is popular with visitors throughout the year with numbers greatly increased during summer months and is famous for its pier, Adnams brewery, lighthouse and Gun Hill. This charming town offers a wide range of independent boutiques, bakers, butchers, galleries, restaurants and public houses with national chains that include Jack Wills, Joules, Crew Clothing, Fat Face, Costa and Timberland. The town is approximately 36 miles North East of Ipswich, 30 miles South East of Norwich and 4 miles from the A12 trunk road.
From the agents Southwold office turn right (west) along the High Street for approximately 250 yards where the property will be found on the left hand side, opposite the junction to Victoria Street.
The building comprises a substantial retail area with an elevated frontage onto the High Street with excellent storage space at basement level. In total the retail accommodation extends to approximately 152sqm with storage and ancillary accommodation of 64sqm. Externally there is a small amount of storage and one parking space.
In recent years the premises have been completely refitted with a modern EPOS system with two position serving counter, shelving and racking displays and drinks chiller. Further improvements include the installation of LED lighting, safety flooring, extensive external signage, air conditioning and CCTV.
The property is held under a 20 year internally repairing and insuring lease within the Landlord and Tenant Act 1954, which was granted in 2006. Under the lease the property is subject to three yearly rent reviews with the rent due to increase to £42,000 from May 2019. The current passing rent is £40,000 per annum (payable quarterly).
It is intended to assign the lease to the business purchaser.
Offers in the region of £75,000 for the goodwill of the business and commercial fixtures and fittings. Stock at valuation.
Durrants Commercial, 32-34 Thoroughfare, Harleston, Norfolk, IP20 9AU
Tel: 01379 851038