Lot 29 - New Court Inn, 62 Maryport Street, Usk, NP15 1AD
- Unconditional Online Auction Sale
- Guide Price* : £399,000+
- Bedrooms: 6
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Lot 29 - Business Plus Premises for Sale with Planning Consent
Description
ONLINE AUCTION from 11th MARCH-13th MARCH
Please Note: This lot is being sold as a going concern (premises included). Further information detailing this is included in the legal pack.
A two storey public house for sale with planning consent.
This premises is currently trading as a public house with letting rooms. Planning permission has been granted to create a separate substantial 2 bedroom, 3 bathroom cottage completely separate from the existing pub business and allocated a proportion of the existing rear garden.
The property was fully rewired in March 2021 with NAPIT certification. At the same time a new central heating system and gas boiler was also installed at the property.
The ground floor public house/restaurant
The ground floor is currently comprised of a two-section bar area plus split-level restaurant with seating for approximately 55 customers. There is a commercial kitchen and toilet facilities. To the rear of the property there is a conservatory area leading to a garden.
First Floor - six letting rooms
The first is comprised of six letting rooms, five completed to a high standard plus a 6th single ensuite bedroom, part renovated, currently used for storage.
Lower ground floor
There are two basement areas, one of which is currently being used as a cellar, the other is currently used as storage.
Business Financials
We have been advised that the property was acquired in 2012 in a closed and poor state of repair. Following an intensive period of sympathetic renovation the property was opened to the public on 1st March 2013. From a zero start, net sales have grown approximately by 15-20% per annum (excepting covid years) to approaching £300k for the current financial year, achieving a gross margin of over 70% and returning in excess of £50k net profit.
Location
This business and premises is situated in the scenic town of Usk. Maryport Street is a charming and historic thoroughfare in the heart of Usk, a picturesque market town in Monmouthshire, South Wales. Lined with a mix of traditional stone buildings, independent shops, cozy cafés, and welcoming pubs, the street captures the town’s warm and inviting character.
Located just a short walk from the River Usk, Maryport Street offers easy access to local attractions such as Usk Castle, the Usk Rural Life Museum, and scenic riverside walks. The street is known for its vibrant community feel, with regular markets, local events, and a strong emphasis on locally sourced goods and produce.
With its blend of history, charm, and modern amenities, Maryport Street is a delightful destination for visitors exploring Usk and the surrounding countryside.
Planning Permission
Planning has been granted for alterations to existing hotel to provide separate on site living accommodate and new hotel kitchen facility. For further information please see Monmouthshire council planning reference DM/2023/00270 and reference DM/2023/00271.
Tenancies
To be sold as going to concern. Premises will be sold with vacant possession.
Tenure
Advised Freehold - to be verified by solicitor
To be sold as a going concern. Premises included
Auction Fees And Additional Costs
Auction fees: The sale of each lot is subject to a buyer’s premium of 1.5% of the purchase price (subject to a minimum of £1,500) including VAT unless otherwise stated.
Additional costs: The purchase of the property may be subject to (but are not limited to), VAT (if applicable), reimbursement of the seller’s search fees, reimbursement of seller’s legal and/or sales costs, stamp duty/land transaction tax (LTT). Please check accompanying legal pack for further details.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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Documents
- Terms and Conditions for Unconditional and Conditional Online Auctions
- Reservation Fees & Deposits Explained
- Buyers Guide for Unconditional Auctions
- Sellers Guide for Unconditional Auctions
- Guide to Buying at Auction
Legal Documents
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