The Royal Standard is a substantial detached brick, timber and flint built 2 storey property, extended to the rear, with dedicated car park and trade garden.
The ground floor provides largely open plan, flexible trade areas with central bar servery, traditional decor with open fireplaces, stone and wooden flooring, exposed brickwork and timbers. The trade areas are split into a pool room, which can be utilised for functions, snug, lounge bar, plus several darts areas given the popularity and following by resident teams. To the rear are recently refurbished male and female WC's, commercial trade kitchen, served by a sizeable cellar and storage areas.
Externally, the property provides a south west facing trade garden (c. 50 covers), smoking shelter and patio areas, along with dedicated car park and storage sheds.
The 1st floor provides substantial residential accommodation providing 5 bedrooms, bathroom and kitchen. These rooms have been used as B&B accommodation and booked by Breckland Council since November 2018, providing valuable additional income.
The property is well presented and has been substantially improved and regularly maintained by our clients throughout their tenure.
The area of the site is 0.25 acres and the ground floor footprint (GEA) of the public house extends to 242m² (2,605ft²). Measurements are taken from digital mapping and are approximate.
We are advised that the property is not Listed nor is it located in a Conservation Area. The relevant local authority is Breckland Council www.breckland.gov.uk
The property is held on a FRI lease from 18th September 2012 inside the L&T Act 1954, expiring on 17th September 2027 at a current rent of £28,000 pax, subject to 5 yearly rent reviews. The lease is free from any brewery, or landlords purchasing obligations.
Premium offers are sought in the region of £50,000 for the leasehold business, inclusive of tenants fixtures and fittings and goodwill.
Trading Figures & Turnover
The Royal Standard is a thriving and popular community local. The business is currently around 90% wet-led with the benefit of a late licence, which is rarely utilised to its full extent, with well-supported darts and pool teams.
There is scope to extend the trading hours, expand the limited food offer and increase the letting accommodation income from the upper parts, currently being let to Breckland Council, between £40-60 per room per night for the 5 bedrooms. Turnover figures can be made available to genuinely interested parties.
Rates & Charges
Council Tax: £1,399 per annum (Band B). We understand the business is eligible for 100% rate relief.
Property reference: Royal Standard - Dereham
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