Freehold Public House Investment For Sale
The property comprises the basement, ground and first floor of a two storey detached rendered and painted building beneath a multi pitched tiled roof.
Basement: Cellar and stores.
Ground Floor: The ground floor comprises a bar servery to the front and additional bar servery to the rear with seating on loose tables and chairs for 54 customers. There is a separate dining room with seating for 20 additional customers. Ancillary areas include a trade kitchen and customer WC’s.
First Floor: The first floor comprises manager’s accommodation comprising one bedroom, kitchen, bathroom and lounge. There are three rooms used as ancillary storage for the pub which would suit conversion into letting rooms subject to obtaining the necessary consents.
Externally: There is a small enclosed customer area to the front with seating on loose tables and chairs for 20 customers. Additional seating is provided to the rear courtyard for a further 24 customers.
The property is held freehold (Title Number HP484377).
The entire property is let to two private individuals on a 20 year lease from 17 November 2017 at a current rent of £62,132 per annum which is subject to five yearly open market reviews and annual uncapped RPI increases. A rent deposit of £14,306 and a repair and maintenance fund of £297 is held by the landlord.
The property is Grade II listed and situated in the Kingsclere 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 £855,000 (6.88% NIY) assuming the usual purchasers costs.
Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.
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