Freehold public house investment for sale let until August 2034 at a rent of £42,500 per annum
Description
The property comprises the ground and first floors of a two storey detached building with rendered and painted brick elevations beneath a multi pitched roof.
Accommodation
Ground Floor: The ground floor provides an L shaped open plan trading area with a central bar servery and dining room to the rear with seating on loose tables and chairs for approximately 52 customers. Ancillary areas include a trade kitchen, customer WCs and stores in outside sheds to the rear.
First Floor: The first floor comprises private living accommodation providing three bedrooms and bathroom.
Externally: There is a large customer area around an ornamental pond with seating for over 100 customers. Large gravel car parking to the side and rear for approximately 50 vehicles.
Tenure
The property is held freehold (Title Number EX233206). There is a right of way over the area outlined in yellow on the promap to the land to the rear of the pub.
Tenancy
The entire property is let to two private individuals on a 20 year lease from 1 August 2014 at a current rent of £42,500 per annum which is subject to five yearly open market reviews with the next review in August 2024.
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-76
Terms
We are instructed to invite offers in excess of £640,000 (6.3% 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.