Historic pub rebuilt in 1930s for sale for £1... but there is a catch

Dunstable Arms in Sheringham, Norfolk

The Dunstable Arms, Sheringham, which is for sale for no premium but with an annual rent of £27,500. - Credit: Christie & Co

A 1930s pub built in a Tudor style in Norfolk is for sale for £1 - but the annual rent is £27,500.

The Dunstable Arms, in Cromer Road, Sheringham, which was the site of a former pub dating to the late 1800s, is listed for sale for just £1.

But the agents Christie & Co were quick to point out this means there is no premium or sum of money paid to the owner for taking over the business - but an annual rent needs to be paid on the premises.

A spokeswoman for the Ipswich-based firm said: "We have to list it as £1 but in fact it means there is no premium to pay, there's no fee but there is a rent."

A pub on the site dates to the late 1800s, being originally a much smaller flint building run by James Dennis who farmed 16 acres. 

It was rebuilt in 1931 in a grand Tudor style. A later extension was built around 1945 after records show the building was damaged by "enemy action" during the Second World War in 1940.

The pub reopened after a period of closure in 2011 but shut its doors again for good recently after a lack of customers.

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The property is now offered with a new lease from the London-based Wellington pub company. It offers two bar areas, a dining room seating 44 people, a function room overlooking a patio area and owner's accommodation with three bedrooms.

Outside are outbuildings, a garden and car park.

Agents Christie & Co state: "The business has recently closed and the opportunity has therefore arisen for a new free of tie lease to be created.

"There is undoubted scope for lessees to exploit the excellent location of the property with wet and food sales featuring as key components of any new business, with greater use being made of the trade garden, in particular, which would become a very important selling feature of the operation, not least during the summer months when visitor numbers to the town and area are at their peak."