Occupying a prime position in Norwich city centre, this vacant freehold property offers an enticing commercial opportunity for investors.
Spanning three levels, the prominent building sits on the corner of Farmers Avenue, next door to the thriving Castle Quarter shopping complex.
The commercial property has been closed since 2018 and will be going under the hammer in our first livestream auction of the year with a competitive guide price of £250,000 - £300,000 (plus fees).
Located in one of the oldest districts of Norwich, 12 Farmers Avenue has a rich history as a public house. Known as the Plough and Horses until 1830, the building has housed numerous popular restaurants and bars over the years, including La Rouen and most recently, Bar 12.
Originally put up for sale by chain Enterprise Inns in 2017, various plans have been submitted to the local council regarding its future development. Outline planning permission was approved in March 2020 for the conversion of the rear of the building and upper floors into six ensuite letting rooms and a one-bedroom studio apartment.
However, prospective buyers will need to approach Norwich City County regarding alternative use, as this consent has now unfortunately lapsed.
Although the building underwent a refurbishment in 2018 and is generally in good condition, it would still benefit from additional renovation work. The property spans three levels and is currently set up with bar and dining spaces as well as a one-bedroom managers flat on the top floor.
The lower level houses the main bar, which is traditionally decorated with exposed beams and brickwork. It also includes a restaurant dining area, customer toilets, and access to a large cellar.
The first floor offers additional dining space with impressive views of the city skyline. The layout on the first floor also consists of a kitchen, extra customer toilets, and a preparation area with storage. The building's layout is completed by a one-bedroom manager's flat on the second floor.
With a proposed conversion project already mapped out, the disused city centre premises could be handed a new lease of life as a boutique hotel. Plans could see the three-storey building extended to overlook the service yard at Castle Quarter.
The suggested layout includes four ensuite rooms and a store room on the first floor, a self-contained studio apartment on the uppermost floor, and two ensuite bedrooms on the ground floor. A bar and customer restrooms would still be retained on the lowest level.
Now available at auction, the building presents a fantastic opportunity to either maintain its status as a bar and restaurant, or to venture into other innovative uses of the versatile space. Its strategic location near the Castle Quarter dining project, the established Castle Gardens, and neighbouring offices only enhance its exciting potential.
Please note that 90% VAT is applicable to the sale of 12 Farmers Avenue, with 10% exempt for the residential element.
Farmers Avenue goes under the hammer on Wednesday the 7th Feburary, visit the full property listing to find out more information and to arrange a viewing with Auction House East Anglia.
