Freehold Public House Investment For Sale
The property comprises the ground and first floor of a two storey semidetached building with rendered stone and brick elevations beneath a pitched roof.
Ground floor: The ground floor provides a bar area to the front with a bar servery to the side, a small dining area to the front and a larger dining area to the rear with seating provided on loose tables, chairs and benches for 75 covers. Ancillary areas include a trade kitchen, beer cellar and customer WC’s.
First Floor: The first floor provides manager’s accommodation comprising one bedroom, living room, kitchen, bathoom, office and storage.
Externally: There is a large trade patio to the front and a smaller area to the rear with seating on loose tables for 40 customers. There is a car park to the rear with parking for 40 vehicles.
The property is held freehold (Title Number CE158593).
The entire property is let to Chadwicks Inn (Lease) Ltd on a 20 year lease from 7 September 2017 at a current rent of £44,052 per annum which is subject to five yearly open market reviews and annual uncapped RPI increases (which do not apply in the open market review year). A rent deposit of £10,101 is held by the landlord.
The property is not listed or situated within a 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.
In the course of preparation.
We are instructed to invite offers in excess of £520,000 (8.09% 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.
Viewings & Contacts
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.
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