Wheatsheaf Inn Abbeytown 4,000 SF Retail Building Wigton CA7 4RG $373,719 CAD ($93.43 CAD/SF) 9% Cap Rate

Investment Consideration:
Vacant possession
ERV: £18,000 p.a. GIY: 9.00%
VAT is applicable to this property
Comprises large detached public house
Total area size 371 sq m (4,000 sq ft)
Includes three trade spaces, a beer garden, large car park (30 spaces) and a two-bedroom owner’s accommodation, refurbished to a very high standard.
The only pub in the village of Abbey Town
Situated on main arterial route (B5302) between Wigton and Silloth, providing great vehicular traffic and passing cyclists
Property Description:
The Wheatsheaf Inn is one of 14 Redfern Public Houses which were built in the 1930's by Harry Redfern. He was responsible for designing, in an imaginative and varied manner, a number of notable public houses in the Carlisle district under the auspices, as chief architect, of the Home Office State Management Scheme (SMS). The SMS built fourteen New Model Inns to Redfern's designs, with a strong theme of the Arts and Crafts movement. He was commemorated towards the end of his work for the SMS by the naming of the Redfern Inn (1938), one of the distinctive New Model Inn designs, in Etterby, a district of Carlisle. The Wheatsheaf although modernised and extended by the current owners is still a Redfern Pub, with its recognisable Mansard roof and dormer windows.
The property benefits from three trade spaces, a beer garden, large car park (30 spaces) and a two-bedroom owner’s accommodation.
Location:
Abbeytown, also known as Holme Abbey, is a village and civil parish in the Allerdale borough of Cumbria, England. The property is located on the junction with road B5302 towards Wigton/Seaside and national cycle route 72, providing a lot of tourist and local traffic. Occupiers nearby including convenience store and petrol station.