Hotel/guest house for sale in Stower Grange, 40 School Road, Drayton, Norwich, Norfolk NR8

For sale by auction on Wednesday, 12 Jun 2024 at 10:00

Venue: Livestream Auction

A magnificent Grade II listed 18th Century former Rectory currently a hotel restaurant but with potential for conversion to residential or alternative use subject to planning

Stower Grange was originally built as a rectory but for many years it has traded as an award-winning country house hotel, restaurant and wedding venue. It is situated just four miles from the centre of Norwich and three miles west of Norwich Airport, the property is also convenient for the North Norfolk Coast and Norfolk Broads.

The current owners have successfully run the business for the last 24 years but are now selling due to retirement. The opportunity now exists for the property to be rejuvenated or following a successful pre application, conversion to residential use may be possible for which a listed building planning application has been submitted and is currently being determined. The local authority have already indicated that the principle for residential use would be acceptable as it is located within the settlement boundary and is in a primarily residential area.

The 11 bedroom hotel has extensive dining and entertaining spaces along with a professional kitchen, cellarage and gardens that extend to 1.55 acres (stms). The setting is idyllic and planning permission has been granted to add an additional seven rooms to the existing property, offering an incoming owner excellent development potential to further grow the business or expand the existing living accommodation.

Rarely do opportunities as valuable as this come to the market and detailed viewing is highly recommended.

Ground Floor
Twin entrance halls, ball room, lounge bar, guest sitting room, dining room, breakfast room, fully equipped professional kitchen, cloakrooms, cellar

First and Second Floors
Split landing, eleven en-suite bedrooms

Outside
Private gardens extending to 1.55 acres with sweeping gravel driveway and car parking areas, extensive lawned areas, paved terrace, mature trees and shrubs.

Business Rates
10 March 2023 to present: £27,500

Planning
Planning permission was granted for the addition of 7 further letting bedrooms and meeting room on 4.11.21, Planning Ref. 2021/1599. An application has been submitted for the conversion of the existing premises into three residential units and this is awaiting determination, however the feedback has been positive from the planning officer and final approval is expected shortly. Details can be found on the Broadland District Council website, planning ref. 2023/3093.

Notes
The vendor of the property is related to a member of Auction House East Anglia staff

Additional Fees
Buyers Premium: £1500 inc VAT payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.

Price Information
* Guides are provided as an indication of each seller's 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 Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.