Freehold Public House Investment For Sale
Description
The property comprises the ground and first floor of a two storey detached building with painted and rendered elevations beneath a pitched roof.
Ground Floor: The ground floor provides a raised dining area to the front and a bar area to the rear with bar servery to the side and seating on loose tables, chairs and benches for 54 customers. Ancillary areas include a trade kitchen, cellar and customer WC’s.
First floor: The first floor comprises manager’s accommodation including three bedrooms, office, kitchen, living room and bathroom.
Externally: There is a beer garden to the rear with seating on loose tables and chairs for 65 customers alongside an outbuilding used for storage and a workshop. A car park is situated to the side elevation for 12 vehicles.
Tenure
The property is held freehold (Title Number DN319813).
Tenancy
The entire property is let to a private individual on a 20 year lease from 1 June 2018 at a current rent of £48,523 per annum which is subject to five yearly open market reviews and annual uncapped RPI increases. A rent deposit of £3,554 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 that the purchasing entity is VAT registered.
EPC
E-118.
Terms
We are instructed to invite offers in excess of £515,000 (8.99% NIY) assuming the usual purchasers costs.
Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.
Viewings & Contacts
All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff.
For further information and all viewing requests please contact the sole selling agents Savills.
E (118)
Name | sq ft | sq m | Availability |
---|---|---|---|
Ground | 1,496 | 138.98 | Available |
1st | 972 | 90.30 | Available |
Basement | 419 | 38.93 | Available |