KENT - TOWN CENTRE PUB WITH PLANNING FOR FOUR FLATS

The Fox & Hounds (previously known as Sheldon’s) is situated in the seaside town of Margate, in the Thanet district of Kent. The town is located on the North Kent coast approximately 16 miles north-east of Canterbury and boasts a population in the region of 61,000 residents. Historically, a significant maritime port, the town is now predominantly residential. However, it does boast landmarks including sandy beaches, Dreamland Amusement Park, Shell Grotto and the Turner Contemporary Art Gallery. The town has, and is still, undergoing significant regeneration and gentrification, fuelled by young professionals and investors relocating from London.

The town boasts excellent transport links with fast road connections via the A2/M2 to the M25 at Dartford and Central London beyond. Margate rail station provides services into London Victoria, as well as High Speed 1 services to London St Pancras, Ashford International and Canterbury West.

The property is situated on the town's High Street, a short walk from the beach, Hawley Square and Mill Lane multi-storey car park.

The property is a substantial four-storey, mid-terrace building, of brick construction under a pitched and flat roof. The property comprises:

GROUND FLOOR:
- BAR: Open plan bar area.
- GENTLEMEN'S TOILETS.
- LADIES' TOILETS.
- TRADE KITCHEN.
- STORAGE.

BASEMENT:
- CELLAR: Divided into three rooms.

FIRST FLOOR:
- THREE STUDIO BEDROOMS with EN SUITE BATHROOMS.

SECOND FLOOR:
- TWO STUDIO BEDROOMS with EN SUITE SHOWERS and WC.
- STUDIO BEDROOM with EN SUITE BATHROOM.
- STUDIO BEDROOM.
- SHOWER and WC ROOM.
- BATHROOM.
- WC.

THIRD FLOOR:
- KITCHEN/LIVING/DINING ROOM.
- SHOWER and WC ROOM.
- TWO DOUBLE BEDROOMS.

EXTERNAL:
- BEER GARDEN.

FREEHOLD £750,000. Sold with vacant possession or subject to the following:

- Public house and basement: Held on a six-month licence to multi-site operators. Rent is £50,000 per annum, with no rent reviews.
- One-bedroom bedsit: Is let on an AST to an individual at a rent of £750 pcm (£9,000 per annum).

No direct approach to be made to the business; please direct all communications through Sidney Phillips.

Viewing strictly by appointment only.

All mains services are connected.
Local Authority: Thanet District Council
Rateable value: £11,500

The property is sold with the benefit of planning permission for the change of use of the upper floors from seven bedsits to three one bedroom and one two bedroom, self-contained flats together with alterations to fenestrations. Full details can be found registered with Thanet District Council under planning reference F/TH/25/0517. Floor plans available on request. Having explored the opportunity with local estate agents, we are of the understanding that the four new flats will be capable of generating a rental income in the region of £45,000 per annum.