Quintrell Inn, 2 North Way, Quintrell Downs, Newquay, TR8 4LA | Property for sale | Savills
1.41 Ac(0.57 Ha)
Excess of £1,250,000

Quintrell Inn2 North Way, Quintrell Downs, Newquay, TR8 4LA

  • Freehold

Key features

  • Freehold public house investment
  • Entire property let to a private individual
  • Property is arranged over ground and first floors and is situated on a large 1.4 acre site
  • Current rent of £97,965 per annum
  • We are instructed to invite offers in excess of £1,250,000 (7.4% NIY)
  • Lease expires September 2038
  • The rent is subject to five yearly open market rent reviews and annual uncapped RPI
  • Business unaffected by sale

Freehold public house investment for sale until September 2038 at a rent of £97,965 per annum

About this property

  • Description
    The property comprises the ground and first floor of a two storey detached building with painted rendered elevations beneath a pitched and hipped roof.

    Accommodation
    Ground Floor: The ground floor provides an open plan trading area with a centra bar servery and seating for 60 customers. There is an additional side restaurant and rear trading room with seating for a further 88 customers. Ancillary areas include customer WC's, trade kitchen, stores and cellar.

    First Floor: The first floor provides two flats with external access with Flat 1 comprising a bedroom, kitchen, dining room and bathroom. Flat 2 comprises two bedrooms, kitchen, dining room and bathroom.

    Externally: There is a large car park with parking for 70 vehicles and an enclosed trade garden with seating for 60 customers alongside a children's play area.

    Tenure
    The property is held freehold (Title Number CL161302).

    Tenancy
    The entire property is let to a private individual on a 20 year lease from 14th September 2018 at a current rent of £97,965 per annum which is subject to five yearly open market reviews and annual RPI increases (except in an open market review year). A rent deposit of £23,621 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
    B-41.

    Terms
    We are instructed to invite offers in excess of £1,250,000 (7.4% 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 purchasers. Prospective purchasers will need to provide proof of identity and residence.

Local information

  • Located in the village of Quintrell Downs in Cornwall, 3.3 miles (5.3 kilometres) east of Newquay, 10.8 miles (17.4 kilometres) north of Truro and 13.7 miles (21.9 kilometres) northwest of St Austell.
  • The Quintrell Inn is situated fronting the A392 which provides access to Newquay to the west. The surrounding area is a mix of residential and commercial with Premier Inn and Spar directly opposite.