Offers over £2,200,000

Lutley Oak327 Stourbridge Road, Halesowen

    Investment

    Key features

    • Freehold public house investment
    • Let to Spirit Pub Company (Trent) Limited
    • Current rent £129,800 per annum
    • Business unaffected by sale
    • Recently refurbished to a high standard by the occupational tenant
    • Large site of approximately 3,385 sq m (0.84 acres)
    • We are seeking offers in excess of £2,000,000 (6.11% NIY)

    Freehold public house investment for sale, currently let on a lease expiring in 2036 to a wholly owned subsidiary of Greene King PLC.

    About this property

    • The Lutley Oak is a substantial detached building which is of brick construction with part painted and rendered elevations under a pitched tiled roof. The property is laid out to provide accommodation on basement, ground and first floor level. Externally there are a number of bench tables with a larger decked terrace area to the rear of the property which provides seating in total for approximately 230 covers. Car parking is provided to either side of the main building for 31 vehicles. The property sits on a site of approximately 3,385 sq m (0.84 acres).

    Local information

    • Halesowen is a densely populated West Midlands town which is located approximately 9 miles west of central Birmingham and 4 miles east of Stourbridge.
    • Road communications are good with the M5 Motorway, which provides access to the north west and south west of the England, easily accessible at junction 3.
    • The Lutley Oak occupies a prominent corner position on the A458 Stourbridge Road at its junction with Lutley Mill Road, approximately 1 mile north west of Halesowen town centre. The surrounding area is primarily made up of privately owned residential properties.

    Additional information

    • The property is held freehold. The entire property is let on a 25 year lease from 4 July 2011 to Spirit Pub Company (Trent) Limited (Company Number 05746068) at a current rent of £129,800 per annum subject to five yearly upwards only reviews. The rent review dated 4 July 2016 remains outstanding.

    Energy performance

    The property has a current rating of C-65.