Savills | Fisherman's Arms, 40 Lower Stone Street, ME15 6NA | Properties for sale
0.06 Ac(0.02 Ha)
£235,000

Fisherman's Arms, 40 Lower Stone StreetME15 6NA

  • 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 a semi-detached property arranged over three levels. The building is constructed of rendered brick, with a clay tiled roof and single glazed fenestration (part sash).
    Externally there is a trade garden at the rear.

    Accommodation
    Internally the pub is traditional and cosy in style with exposed beams and wood panelling. The bar is positioned to the left of the entrance with seating to the front, side and rear.

    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 Maidstone Borough Council.

    Tenure
    Freehold

    Tenancy
    Commencement of Lease: 18th March 2016
    Inside the L&T Act 1954 II: Yes
    Current rent per annum: £20,000
    Annual RPI Increase: No
    Stepped Increases: No
    Next Rent Review: 18th March 2021
    Rent Review: Market Rent
    Lease Expires: 17th March 2026

    Covenant
    The property is let to a private individual.

    Rateable Value
    £9,350

    Energy Performance Certificate
    D-89

    Price
    £235,000, representing a Net Initial Yield of 8.30%.

    Viewing
    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.

Local information

  • The Fisherman’s Arms is located in the centre of Maidstone, which is a town approximately 34 miles (54 km) south east of London. The Fisherman’s Arms occupies a prominent roadside position fronting Lower Stone Street (A229). Nearby occupiers include mainly secondary and tertiary retailers.

Energy performance

EPC Rating is D (89)

Available space

Floor / UnitTypeSizeStatus
Unit (Site Area)-0.056 AcresAvailable