
The Burton Arms has been a popular local pub and eatery for many years and is now offered to the market as a vacant Free House that offers tremendous potential to re-establish and expand the business including the provision of tourist accommodation or to redevelop it for alternative use (subject to planning consent). The property benefits from two large and characterful bar areas, a restaurant, a function room and a commercial kitchen as well as the usual beer cellar, storage and toilet facilities. In addition to the excellent public hospitality areas, the first floor currently provides six-bedroom accommodation with three en-suite bathrooms, a living room and a kitchen. Externally there is ample off-street parking and a roof terrace. The pub has been a popular venue for drinking, dining, functions and live entertainment for many years.
Location
Burton Fleming is in close proximity of the East Coast towns of Filey (6 miles) Bridlington (7 miles) and Scarborough (13 miles) and is situated in the Gypsey Race valley at the heart of the Yorkshire Wolds. On the outskirts of the village is the Scenic View caravan park which is a popular destination for seasonal and touring caravans. The village also has a post office.
Development Potential
Although providing an excellent opportunity for continued use as a pub and restaurant, the size of the building also provides scope for redevelopment to residential or tourist use (subject to planning consent). Interested parties should note the it is not registered as a community asset making the process of applying for a change of use less complicated.
Accommodation
The oil centrally heated and fully uPVC double glazed accommodation includes:
Ground Floor:
Public entrance, lounge bar, sports bar, restaurant, function room, rear car park entrance, ladies & gents WC, commercial kitchen, kitchen store room, beer cellar and store room.
First Floor:
Landing, six bedrooms, three en-suite bathrooms, en-suite WC, dressing room, Living room, kitchen, office and roof terrace.
Outside:
Tarmac parking area, bin stores, boiler cupboard, oil tank store.
Heating
The property benefits from oil fired central heating to radiators.
Double Glazing
The property benefits from sealed unit uPVC double glazing throughout.
VAT & Capital Allowances
VAT will not be payable on the purchase price. No capital allowances have been claimed so the purchaser can off-set these costs against their future profits.
Fixtures & Fittings
Many of the commercial fixtures and fittings are included in the sale including the commercial kitchen equipment, fitted bench seating, bar fittings, beer coolers, specialist function lighting, and CCTV. A full list of included fittings will be provided in the legal pack.
Tenure
We understand that the property is freehold and is offered with vacant possession upon completion.
Business Rates
East Riding of Yorkshire Council shows that the property has a current rateable value of £2,750 however it currently enjoys 100% rural business rate relief.
Services
Mains water, electricity and drainage are connected to the property. Gas for cooking is provided from gas tanks.
Viewings
Strictly by appointment with the auctioneers on 0845 400 9900
Solicitors
REDBIRD CONVEYANCING LIMITED, Office 5, Market Chambers, Market Place, Ramsbottom, BL0 9AJ. FTAO Pamela O’Brian.
Method of Sale
The property will be offered for sale by online auction with bidding commencing at 12 noon on Monday 22nd May 2023 and closing on Wednesday 24th May 2023 at 3.00pm. For further legal information relating to this lot please log on to auctionhouse.co.uk/hullandeastyorkshire.
Conditions of Sale
The property will be sold subject to conditions of sale, copies of which will be available for inspection at the auctioneers offices, with the solicitors and on-line at auctionhouse.co.uk/hullandeastyorkshire prior to the date of the auction.
Guide Price
*Guides are provided as an indication of each sellers minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each 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.
Additional Fees:
The purchaser will be required to pay an administration charge of 0.3% of the purchase price subject to a minimum of £750 (£625 plus VAT) and a buyers premium of £480 (£400 plus VAT) in addition to the purchase price of the property.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
ONLINE BIDDING
If you are wanting to bid on this property, copy and paste the link below into your URL bar or into a Google search and it will take you to a video that explains the process:
youtube.com/watch?v=ImXr4HXR36c
Tenure : Freehold
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
Tax Band | % | Taxable Sum | Tax |
less than £250k | 0 | ||
£250k to £925k | 5 | ||
£925k to £1.5m | 10 | ||
rest over £1.5m | 12 |
Tax Band | % | Taxable Sum | Tax |
less than £250k | 3 | ||
£250k to £925k | 8 | ||
£925k to £1.5m | 13 | ||
rest over £1.5m | 15 |
Tax Band | % | Taxable Sum | Tax |
less than £425k | 0(5)** | ||
£425k to £625k | 5 | ||
£625k to £925k | 5 | ||
£925k to £1.5m | 10 | ||
rest over £1.5m | 12 |
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