Savills | Horse & Groom, Rushlake Green, TN21 9QE | Properties for sale
2,777 sq ft(257.99 sq m)
£425,000

Horse & Groom, Rushlake GreenTN21 9QE

  • Under offer
  • Freehold

Key features

  • Free of Tie Public House Investment
  • Grade II Listed
  • Let to good individual operator
  • Strong underlying property value
  • Business unaffected by sale
  • To be sold as a portfolio or individually
  • Guide price for the portfolio of £1,760,000, reflecting a 6.22% NIY and a reversionary yield of 7.76%

Free of Tie Public House Investment

About this property

  • Description
    The property comprises an attractive detached building arranged over two levels. The building is constructed of rendered brick with a pitched clay tiled roof and single glazed fenestration. Externally, there is a car park to the front and a beer garden to the front and side.

    Internally the pub is traditional and cosy in style with exposed beams and wood panelling. The bar is positioned centrally with seating either side.

    Planning
    The property is Grade II Listed.
    The property does not lie within a conservation area.
    The property currently holds A4 ’Sui Generis’ planning use class consent.
    The Local Authority for the property is Wealden District Council.

    Tenure
    Freehold

    Tenancy
    Commencement of Lease: 16th March 2018
    Inside the L&T Act 1954 II: Yes
    Current rent per annum: £35,000
    Annual RPI Increase: No
    Stepped Increases Yes – £40,000pa (16/03/21)
    Next Rent Review: 16th March 2023
    Rent Review: Market Rent
    Lease Expires: 15th March 2028
    Break Clause: Yes - Tenant break 16th March 2023

    Covanent
    The property is let to a private individual

    Rateable Value
    £29,500

    Price
    £425,000, representing a Net Initial Yield of 9.02%

Local information

  • The Horse & Groom is located between the villages of Cow Beech and Three Cups Corner, approximately 7 miles (11 kilometres) north of Hailsham. The Horse & Groom is set back on Cow Beech Road, at the point where it meets Rookery Lane. The surrounding area is rural and almost solely residential.

Energy performance

EPC Rating is D (87)

Available space

Floor / UnitTypeSizeStatus
Building-2777 sq ftAvailable