Red Lion, 87 Market Place, Swaffham, PE37 7AQ | Property for sale | Savills
0.14 Ac(0.06 Ha)
Excess of £435,000($512,256)

Red Lion87 Market Place, Swaffham, PE37 7AQ


    Key features

    • Freehold public house investment
    • Entire property let to an individual operator
    • Property arranged over ground, basement and first floors
    • Current rent of £34,500 per annum
    • Lease expires March 2030
    • The rent is subject to five yearly open market rent reviews
    • We are instructed to invite offers in excess of £435,000 (7.60% NIY)
    • Business unaffected by sale

    Freehold public house investment

    About this property

    • Description
      The property comprises a two storey end of terrace building with painted and rendered elevations beneath a multi pitched tile roof. There is a single storey outbuilding to the rear.

      Ground Floor:
      The ground floor provides an open plan bar area to the front and separate restaurant area to the rear with a central bar servery and seating on loose tables and chairs for 36 customers. Ancillary areas include a trade kitchen and customer WC's.

      Basement:
      Cellar and stores

      First Floor:
      The first floor provides manager's accommodation comprising three bedrooms, living room, kitchen, bathroom and separate WC.

      Tenure
      The property is held freehold (Title Number NK133402)

      Tenancy
      The entire property is let to a private individual on a 20 year lease from 7th March 2010 at a current rent of £34,500 per annum which is subject to five yearly open market reviews

      Planning
      The property is Grade II Listed and is situated within the Swaffham 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 that the purchasing entity is VAT registered.

      EPC
      An EPC is in the course of preparation

      Terms
      We are instructed to invite offers in excess of £465,000 (7.1% 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 purchasers. Prospective purchasers will need to provide proof of identity and residence.

      Viewings and Contacts
      All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff.

      For further information and all viewing requests please contact the sole selling agents Savills.

    Local information

    • Swaffham is an attractive market town in the county of Norfolk, 31 miles (50 kilometres) west of Norwich, 30 miles (48 kilometres) north of Bury St Edmunds and 48 miles (77 kilometres) north east of Cambridge.
    • The Red Lion is situated in the town centre fronting Market Place. Surrounding occupiers are generally independent retailers and licensed operators