Description
The property is a three-story detached building made of brick construction with a tiled roof, dating back to the early 1900s. The present building was built in 1904 to replace a nearby earlier public house of the same name. The property comprises a single bar with a raised dining area, a small patio to the rear, a large beer garden and ample car parking to the side of the property. The owner’s accommodation comprises three double bedrooms located on the first and second floors, with the potential for conversion into letting rooms.Location
The King William IV is located in the quaint seaside town of Gorleston, nestled next to Great Yarmouth, which is fast becoming a sought-after location for home buyers. The property sits directly on the quay overlooking the River Yare and is approximately 3.8 miles from the Norfolk broads, via A47, and the city of Norwich, which is approximately 24 miles away. The pub itself sits on the A1243. Gorleston is known for its award-winning beach with its white sands and is voted the 12th best in Europe (2023). It has a mile-long promenade attracting many visitors.
The main shopping centre is located on the High Street and Gorleston also benefits from its own golf club, library and hospital. The town has a population of around 6,000 residents.Internal Details
* The property can be accessed either via the front door directly off the Quay or a public side entrance * Real brick built feature fireplace * Large panel windows to front and side * Lounge area * Ladies & gentlemen WCs * Long wooden topped bar with servery * Dining/restaurant & function area * Raised dining area * Trade kitchen * Double doors to rear garden * Cellar * Range of ancillary storage areas.Fixtures & Fittings
Much of the former trade inventory has been removed. The property will need investment and fitting out in order to operate as a pub.Letting Accommodation
There is a large three bedroomed flat above the pub over two floors, offering the potential for letting rooms.External Details
A large, detached plot, with a rear beer garden and various outbuildings, which have been fully fenced off and a car park to the side of the property.
We have been advised that a gas line runs across the garden and carpark.Owners Accommodation
A self contained flat is accessed via an internal staircase and located on the first and second floors, comprising three double bedrooms, kitchenette, living room with balcony and bathroom. There are great views from the bedrooms which overlook the Quay.The Opportunity
The King William IV is a substantial, very prominent, and well-located property. With experienced operation and investment, the property will, in our view, undoubtedly be able to quickly re-establish its former food and beverage business year-round trade. The famous Norfolk Broads, as well as the City of Norwich, are both very accessible and, combined with the property’s size will, we feel, attract the large and growing volume of passing trade experienced at the location. Given the location and size of plot, other uses may be possible subject to relevant permissions.Trading Hours
Licensed opening hours are 10:00am to 1:30am, seven days a week. When live and recorded music is played, opening is extended to 2:00am.Development Potential
Overage
An overage clause will apply in the event that the buyer obtains grant of Planning Permission for residential. Further details on request.Planning Permissions
The Property may be suitable for alternative uses, including residential, subject to the relevant permissions.Tenure
The purchaser will be required to pay a non-refundable abortive legal fee deposit of £5,000 (to be held by the seller's solicitor) prior to the release of the legal package. The purchaser will have 15 working days from the date the legal package is released from the seller's solicitor to the purchaser's solicitor to exchange contracts.
Completion is to be 15 working days after the exchange of contracts. In addition to a 10% deposit on exchange.
Overage
An overage clause will apply in the event that the buyer obtains grant of Planning Permission to residential. Further details on request.Business Rates
The current Rateable Value as at 1 April 2023 is £12,000.
This is the rateable value for the property. It is not what you pay in business rates or rent. Your local council uses the rateable value to calculate the business rates bill.Regulatory
Energy Rating C.
