A rare opportunity to acquire a substantial freehold premises with planning consent for change of use in the renowned town of Southwold has been presented to the market by specialist property adviser Christie + Co.
The Grade II listed Kings Head occupies a prominent position on the busy High Street, adjacent to the retailer Fat Face and diagonally opposite the Adnams shop and café. The Crown and Swan Hotels, Southwold Golf Course and the iconic seafront are a short stroll away.
The two-storey period property formerly traded as a public house before closing around 18 months ago. Adnams Brewery, who have 9 pubs & hotels in the town, have subsequently obtained planning to convert the ground floor to 4 retail units with 2 flats on the first floor. The property historically offered three distinct trading areas with a basement, rear yard and an external seating area. The upper floors were utilised as a managers flat and letting rooms.
John Grace of Christie + Co’s Ipswich office is handling the sale, and comments: “Southwold is an exceptionally popular seaside resort throughout the year, well known for Adnams famous Brewery & Distillery, the working lighthouse, beach huts, award winning pier, busy harbour and beach. These attractions, coupled with the numerous pubs and restaurants make Southwold a unique and quintessentially English resort.”
“The town, which is close to Walberswick and Aldeburgh, has the additional benefit of hosting the Latitude Music Festival in the summer. This prime town centre freehold, which has been owned by Adnams for over 80 years, offers great potential for both acquisitive retailers, and commercial and residential developers. We anticipate strong levels of interest from property investors looking to acquire freehold premises in this historic town with significant scope to add value.”
Christie + Co is marketing the property at a guide price of £950,000 and is seeking to secure a purchaser before Christmas 2015.