Freehold Public House Investment For Sale
The property comprises the ground,first and second floor of a three storey detached building with painted brick elevations beneath a pitched and hipped roof.
Ground Floor: The ground floor provides an open plan bar and separate dining area to the rear with a central bar servery and seating on loose tables, chairs and bench seating for 70 customers. Ancillary areas include a trade kitchen and customer WC’s.
First Floor: The first floor provides manager’s accommodation comprising bedroom, bathroom, lounge, kitchen and office.
Second Floor: The second floor provides additional manager’s accommodation comprising two bedrooms.
Externally: There is an enclosed patio and garden to the side and rear with seating on loose tables and chairs for 150 customers. There is a garage building comprising the beer cellar.
The property is held freehold (Title Number K342022).
The entire property is let to The Tall Guy Limited on a 20 year lease from 21 October 2016 at a current rent of £101,084 per annum which is subject to five yearly open market reviews and annual uncapped RPI increases. A rent deposit of £24,117 and a repair and maintenance fund of £1,153.34 is held by the landlord.
The property is Grade II Listed and is situated within a conservation area.
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.
An EPC is in the course of preparation.
We are instructed to invite offers in excess of £1,365,000 (6.98% NIY) assuming the usual purchasers costs.