Hour Glass Inn, 21 Melbourne Street, Exeter, EX2 4AU | Property for sale | Savills
419.27 sq m(4,513 sq ft)
Excess of £815,000($1,056,623)

Hour Glass Inn21 Melbourne Street, Exeter, EX2 4AU

  • Freehold

Key features

  • Entire property let to EB Hospitality Limited
  • Property arranged over four levels extending to 4,513 Sq Ft (419 Sq M)
  • Current rent of £67,442 per annum
  • Lease expires November 2041
  • We are instructed to invite offers in excess of £815,000 (7.85% NIY)
  • The rent is subject to five yearly open market rent reviews and uncapped annual RPI increases (except in the open market review year)
  • Includes separate flat at ground and first floors
  • Business unaffected by sale

Freehold public house investment for sale let until November 2041 at a rent of £67,442 per annum

About this property

  • Description
    The property comprises the ground, lower ground, first and second floors of an end of terrace building with painted rendered elevations beneath a pitched roof.

    Virtual Tour
    Please see the link below to access the virtual tour for the Pub:
    https://vt.ehouse.co.uk/xkmGYP1poPf
    Please see the link below to access the virtual tour for the separate flat:
    https://vt.ehouse.co.uk/13Wd3KbmbVW

    Tenure
    The property is held freehold (Title Number DN320624).

    Tenancy
    The entire property is let to EB Hospitality Limited on a 20 year lease from 22 November 2021 at a current rent of £67,442 per annum which is subject to 5 yearly open market rent reviews and uncapped annual RPI increases (except in the open market review year). A rent deposit of £15,045 is held by the landlord.

    Planning
    The property is Grade II Listed and is situated within Southernhay and The Friars 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
    E - 122

    Terms
    We are instructed to invite offers in excess of £815,000 (7.85% 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.

    Viewings
    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

  • Located in the Cathedral City of Exeter in the county of Devon, 46.3 miles (74.1 kilometres) north of Plymouth and 80.2 miles (128.3 kilometres) south of Bristol and.
  • The Hour Glass Inn is situated at the intersection between Melbourne Street and Colleton Row in a residential area, a short distance uphill from Exeter Quayside which has a range of licensed operations such as On The Waterfront, Samuel Jones and the Prospect.

Available space

Namesq ftsq mAvailability
Lower Ground1,566145.49Coming Soon
Ground1,594148.09Coming Soon
1st67662.80Coming Soon
2nd67762.90Coming Soon