London Trader, 4-7 East Beach Street, Hastings, TN34 3AR | Property for sale | Savills
0.05 Ac(0.02 Ha)
Excess of £805,000

London Trader, 4-7 East Beach StreetHastings, TN34 3AR

  • Freehold
Investment
0.05 Ac (0.02 Ha)

Key features

  • Freehold public house investment
  • Entire property let to an individual operator
  • Current rent of £61,688 per annum
  • The rent is subject to five yearly open market rent reviews and annual uncapped RPI increases
  • Lease expires November 2031
  • We are instructed to invite offers in excess of £805,000 (7.26% NIY)
  • Business unaffected by sale

Freehold Public House Investment For Sale

About this property

  • Description
    Located in Hastings in the county of Kent, approximately 3 miles (5 kilometres) east of Bexhill and 6 miles (10 kilometres) west of Camber.

    The London Trader is prominently positioned in Old Hastings fronting the A259 Highway and close to the waterfront.

    Virtual Tour
    https://vt.ehouse.co.uk/p9NgDcNzNiM

    Tenure
    The property is held freehold (Title Number HT19149).

    Tenancy
    The entire property is let to a private individual on a 14.5 year lease from 2 June 2017 at a current rent of £61,688 per annum which is subject to five yearly open market reviews and annual uncapped RPI increases. A rent deposit of £14,815 and repair and maintenance fund of £607 is held by the landlord.

    Planning
    The property is Grade II listed and situated in the Hastings conservation area.

    Data Room
    https://sites.savills.com/tavernportfolio/en/page_171176.php

    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
    An EPC is in the course of preparation.

    Terms
    We are instructed to invite offers in excess of £805,000 (7.26% NIY) assuming the usual purchasers costs.

Local information

  • The property comprises the ground, first, and second floor of a three storey semi detached building with brick rendered elevations beneath a pitched clay tiled roof.
  • Ground Floor: The ground floor provides an open plan trading area with a central bar servery and seating on loose tables and chairs for 50 customers. Ancillary areas include a pool table room and customer WC’s facilities and cellar.
  • First Floor: The first floor comprises a disused trade kitchen, ancillary stores and offices.
  • Second Floor: The second floor provides manager’s accommodation comprising three bedrooms, kitchen and a bathroom. In addition to this is a small one bedroom self contained flat.
  • Externally: There is small external seating area operated by way of a pavement licence to the front and side elevations for 32 customers.