Description
The Dial House is an attractive Grade II listed Georgian boutique hotel and restaurant situated in a prime location in the centre of the popular market town of Reepham. Originally built in the 17the century as a brewery, the property was then converted into a hotel and underwent various alterations and further extensions in the 18th and 19th centuries.
Location
Reepham is a popular and historic market town located some 13 milees north of Norwich, with direct access to the city centre via the Reepham Road. The beautiful and notable North Norfolk coast is only 18 miles to the north and within a 30-minute drive to places such as Blakeney and Well-nest-the-Sea.
The property is situated in the heart of the town, over-looking the historic market place.
Accommodation Description
The property comprises a hotel with 8 guest rooms and a large restaurant providing a total of 100 covers.
The boutique guest rooms are on the upper floors and are individually designed to offer guests a truly unique experience of the world. Guests can stay in one of 8 iconic 'Grand Tour' rooms comprising weird and wonderful curiosities, large rolltop bathtubs, marble bathrooms, drench showers, state of the art sound systems and vinyl record players of the world, from the Orient, to Paris, Africa, and the Days of Raj.
The restaurant area is across the ground floor and basement and includes, on the ground floor, a reception area, drawing room, bar/lounge area with side conservatory, breakfast bar area, large main rear dining area and a large fully equipped and visible kitchen including a chef''s table area. In the basement is a private dining room and function space. The property has many unique quirks and features; the secret dining area accessed through a bookcase is a particular talking point for guests and is ideal for private dining events.
On the first floor there is also a beauty salon which is currently occupied by a third party under licence and a retail area currently used by the owners as an independent clothing shop.
Terms
The property is available as a going concern. OIRO £1.195m are being sought for the freehold interest complete with the goodwill. Trade contents (according to inventory) available by separate negotiation. Stock at valuation.
Alternatively, the property is available to let on a new full repairing and insuring lease for a term to be agreed at an initial rent of £75,000 per annum exclusive. A premium will be payable for the goodwill.
The property was originally purchased by our clients in 2018 and they immediately set out to refurbish parts of the building upon acquisition. Our clients vision was to create a boutique restaurant with rooms offering with a particular focus on British cuisine using locally sourced seasonal produce. They have created a renowned food and beverage offering both in the local and wider area and have won various accolades. They have decided to sell to concentrate on other business interests.
The Dial House presents various opportunities to grow the business, whether that be through focusing on the F and B offering to create a more causal, all day dining experience, or to boost the events and wedding trade which has proven to be a viable revenue stream for the business. Trading information will be made available to seriously interested parties following a formal viewing.
Rates
The Valuation Office Agency website indicates that as from April 2023 the Rateable Value is £22,550. This is not the annual rates payable.
The rates payable will depend on the occupier's circumstances and can be obtained from www.gov.uk/correct-your-business-rates which includes a rates payable calculator. ( Agency Pilot Software ref: 165775 )
