Freehold public house investment for sale let until 2029 at a rent of £42,000 per annum
Description
The property comprises the ground and first floor of a two storey detached building with rendered and painted brick elevations beneath a multi pitched roof.
Accommodation
Ground Floor: The ground floor provides two trading areas with an interconnecting central bar servery with seating on loose tables and chairs for 44 customers. Ancillary areas include customer WC’s and cellar to the rear.
First Floor: The first floor provides the managers accommodation comprising three bedrooms, kitchen, living room, office area and bathroom.
Externally: There is an enclosed customer area to the rear which provides a shisha lounge with seating for 62 customers. Ancillary areas include a bar servery and kitchen prep.
Tenure
The property is held freehold (Title Number SY373040).
Tenancy
The entire property is let to private individual on a 30 year lease from 1 October 1999 at a current rent of £42,000 per annum which is subject to five yearly open market reviews with the next review in October 2024. A rent deposit of £13,184 is held by the landlord.
Planning
The property is not listed or situated within a 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
D-77
Terms
We are instructed to invite offers in excess of £580,000 (6.9% 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.