Freehold public house investment
Description
The property comprises a three storey end of terrace building with brick elevations set beneath a pitched tile covered roof.
Ground Floor:
The ground floor provides an entrance reception leading into an open plan bar with dancefloor to the rear. There are bar serveries to either side of the room with both fixed and free standing seating. Ancillary areas include beer cellar, cloakroom and accessible WC.
First Floor:
The first floor provides customer WC's. Self-contained living accommodation consisting of two en-suite bedrooms, kitchen, lounge and bathroom.
Second Floor:
The second floor provides storage.
Tenure
The property is held freehold (Title Number LL157390).
Tenancy
The entire property is let to a private individual on a 20 year lease from 10 November 2015 at a current rent of £56,927 per annum which is subject to five yearly open market reviews and annual uncapped RPI (except in the open market review year). A rent deposit of £13,525 is held by the landlord.
Planning
The property is not Listed but is within the Grantham 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 that the purchasing entity is VAT registered.
EPC
C-53.
Terms
We are instructed to invite offers in excess of £375,000 (14.6% 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
Viewings and 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.