Freehold public house investment for sale let until March 2037 at a rent of £109,200
Description
The property comprises the ground, basement and first floor of a two storey detached building with part rendered and painted brick elevations beneath a pitched tile roof. Large retractable glazed roof extension to the rear.
Accommodation
Ground Floor: The ground floor provides a bar servery to the right hand elevation and extensive seating in the left hand dining room for approximately 190 customers. Ancillary areas include a trade kitchen and stores to the centre of the property and two sets of customer WCs to the rear and side.
Basement: Cellar and stores.
First Floor: The first floor comprises a former prep room, office and stores as well as private living accommodation providing two bedrooms, bathroom and WC.
Externally: There is a trade patio to the front and enclosed customer area to the rear. Parking to the front and side for 32 vehicles.
Tenure
The property is held freehold (Title Number NGL148611).
Tenancy
The entire property is let to Cetgul Limited on a 20 year lease from 3 March 2017 at a current rent of £109,200 per annum which is subject to five yearly open market reviews and annual uncapped RPI increases (except in the open market review year). A rent deposit of £24,406 is held by the landlord.
Planning
The property is not listed or situated within a conservation area.
VAT
It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT on the basis the purchasing entity is VAT registered.
EPC
C-52.
Terms
We are instructed to invite offers in excess of £1,555,000 (6.6% NIY) assuming the usual purchasers costs.
Fixtures and Fittings
The fixtures and fittings are currently owned by the occupational tenant.
Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.