Freehold public house investment for sale let until December 2033 at a rent of £17,284 per annum
Description
The property comprises the ground, basement and first floor of a two storey end of terraced building with partially painted brick elevations beneath a pitched roof.
Accommodation
Ground Floor: The ground floor provides an open plan trading area with bar servery to the rear and seating over two levels for 40 customers. Ancillary areas include customer WC's.
Basement: Cellar and stores
First Floor: The first floor comprises living accommodation which includes a kitchen, bathroom, living room and two bedrooms.
Externally: There is an enclosed service yard at the rear of the property.
Tenure
The Property is held freehold (Title Number GM567433).
Tenancy
The entire Property is let to a private individual on a 10 year lease from 18 December 2023 at a current rent of £17,284 per annum which is subject to a five yearly open market review and annual uncapped RPI increase. A rent deposit of £4,196 is held by the landlord.
Planning
The Property is not listed however, it is situated within Town Hall 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
B-50
Terms
We are instructed to invite offers in excess of £226,000 (7.5% 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.