Turkish restaurant investment in Coventry
A former Victorian pub now transformed into a Turkish restaurant is among the more unusual lots coming up for sale at Bond Wolfe’s auction on Wednesday 9 February.
The Former Old Red Horse, at 52 Barras Green, Barras Heath in Coventry, is listed with a guide price* starting at £238,000+.
It currently trades as the Sofra Anatolia Turkish restaurant with both indoor and alfresco dining areas as well as off-road parking at the front. The property includes self-contained living accommodation on the upper floor.
The property is freehold subject to a lease for seven years from the 31 January 2020 at a rental of £24,000 per annum.
Ian Tudor, joint managing director auctions at Bond Wolfe, said: “This property is an excellent investment opportunity. It is currently generating rental income from a popular Turkish restaurant but would also be suitable for a range of alternative uses subject to the necessary planning consents.
“We are expecting considerable interest and some highly competitive bidding when this property goes under the hammer at our auction on 9 February.”
The two storey semi-detached former pub is laid out to provide a bar and dining areas, kitchen, stores and WCs. Outside there is a courtyard and decked alfresco dining area with off-road parking to the front.
The first floor apartment comprises two bedrooms, lounge, kitchen and bathroom. The lounge is currently being used to provide a third bedroom.
The Old Red Horse sits on the eastern side of Barras Green, between its junctions with Coventry Street and Heath Road, in a well-established area of retail, commercial and residential properties, about four miles north east of Coventry city centre.
The former pub is among 156 lots that will appear in Bond Wolfe’s next auction which starts at 9.30am on Wednesday 9 February. The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet only.