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Globe & Crown, 73 South Street

For sale: £1,000,000.00|0.27 Acre|Pubs/Bars/Clubs, Restaurants/Cafes, Licensed & Leisure

PROPERTY DETAILS

FOR SALE£1,000,000.00
SIZE0.27 Acre
ADDRESSGlobe & Crown, 73 South Street, Yeovil, BA20 1QF
TYPEPubs/Bars/Clubs, Restaurants/Cafes, Licensed & Leisure
TENUREFor Sale Freehold
POSTED ON8th September 2020

DESCRIPTION

Key Points

  • Traditional hotel pub restaurant
  • Site Area – 0.108 ha (0.268 acres)
  • 34 letting rooms over 3 floors
  • Various buildings
  • Prominent position close to Yeovil town centre
  • Conversion potential in part
  • Summary

    The property is an end of terraced property, arranged over three storeys with exposed brick construction.

    Description

    The property is an end of terraced property, arranged over three storeys with exposed brick construction over a pitched clay tiled roof and mixed fenestration. The property has been extended over the years with the creation of a number of separate buildings to the main premises itself. Internally, the property comprises a large bar servery to the right of the entrance. There are various raised seating areas with the kitchen at the rear. The main building together with the two additional outbuildings provide a total of 34 letting bedrooms (14 singles 11 doubles 9 twins).

    Location

    The property is located in Yeovil, a town and civil parish in the district of South Somerset, 130 miles (210 km) from London, 40 miles (64 km) south of Bristol and 30 miles (48 kms) from Tauton. The town is on the A30 and A37 roads and has two railway stations. South Street where the subject property is located is within 100m of the main shopping district for Yeovil and therefore very convenient for accessing the shops and restaurants.

    The Business

    The Globe & Crown operates as a coaching inn providing a variety of rooms which appeal to contractors working in the area on weekdays, couples visiting for weekend breaks as well as tourists visiting the wider area. The room rates for the hotel fluctuate dependent upon the time of year. We can confirm that the most recent financial year, the hotel had a turnover in the order of £510,000 (Net of VAT), with a split percentage between accommodation, food and beverage of 45:15:40 respectively. More information on the hotel’s trading performance will be provided to seriously interested parties upon request and status.

    Planning

    Our informal planning enquiries confirm that the premises is permitted as a hotel (Use Class C1). The property is not listed nor does it lie within a conservation area.

    Rating

    The subject property is entered in the 2019 Rating List with a Rateable Value of £59,000. The National Multiplier for England and Wales for 2019/20 is £0.504.

    LOCATION

    Location: Globe & Crown, 73 South Street, Yeovil, BA20 1QF

    Yeovil Pen Mill (0.9 miles)

    Yeovil Junction (1.4 miles)

    Thornford (3.8 miles)

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