A POPULAR art and craft venue in the heart of Constable Country has hit the market with a price tag of £1.1million.
The Dedham Art and Craft centre has been listed by estate agents Fenn Wright, offering buyers the chance to own both the building and existing business within, which is said to produce a gross income of about £100,000 a year.
The building dates back to 1872 and was formerly the United Reformed Church, before being renovated in 1984 and purchased by the current owners in 2004.
The Dedham Art and Craft Centre now offers about 7,000 sq ft of retail space, arranged over three floors, with a unique blend of more than 55 occupiers, including artists, artisans, and specialist retailers.
The centre is open seven days a week and visitor numbers exceed 85,000 annually.
A spokesman for Fenn Wright said: “The craft centre provides a reliable rental income stream with long-standing licensees and offers the potential for part owner-occupation.
“The property is accessed over an attractive forecourt and the tearoom, with in excess of 50 covers, occupies part of the ground floor, along with lifestyle interiors showroom, Charlie6. “A central staircase leads to the two upper floors which accommodate multiple occupiers, offering a complementary blend of arts, crafts, antiques and more.”
The tearoom occupies part of the ground floor on a renewed three-year lease which begins this April.
Charlie6, the vendor’s business, occupies the remainder of the ground floor on a six-month licence arrangement.
Together these two tenancies generate £47,300 annually.
Although the centre lies in the Dedham Vale, which is an area of outstanding natural beauty, the building itself is not subject to formal listing.
The advert reads: “Planning consent was granted in 1980 for change of use of the former United Reformed Church to that of an arts studio and gallery with ancillary caretaker’s flatlet.
“The property has traded successfully on this basis since 1984.”
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