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Dog & Doublet, North Street

For sale: £350,000.00|0.05 Acre|Pubs/Bars/Clubs, Licensed & Leisure

PROPERTY DETAILS

FOR SALE£350,000.00
SIZE0.05 Acre
ADDRESSDog & Doublet, North Street, Wolverhampton, WV1 1RE
TYPEPubs/Bars/Clubs, Licensed & Leisure
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON18th September 2020

DESCRIPTION

Key Points

  • Freehold Bar Investment
  • Let to S Westwood
  • Current rent £28,003 per annum
  • Let on a lease until 2024
  • Business unaffected by sale
  • Site area of approximately 0.05 acres
  • We are seeking offers in excess of £350,000 (8% Gross Initial Yield)
  • Summary

    Freehold Bar Investment

    Description

    The Property comprises a three storey mid terraced building of brick construction. To the rear is a small decked area for 15 customers.

    Viewings

    All viewings must be arranged strictly by appointment with the sole selling agents Savills.

    Location

    The Property is located in Wolverhampton, a city and Metropolitan Borough in the West Midlands. Wolverhampton is situated off the M54 and M6 motorways, 14 miles north west of Birmingham. The Dog & Doublet is situated fronting North Street in the city centre. The immediate locality is commercial in nature with surrounding leisure and late night venues. To the nearby Queen Square is the Mander Centre shopping centre.

    Terms

    We are instructed to invite offers in excess of £350,000 (8% Gross Initial Yield). The business will continue to trade unaffected from the premises during the marketing of the Property and post completion of the sale.

    Promo

    Freehold Bar Investment

    Accomodation

    Open plan ground floor bar with single bar servery. Fixed booth seating with exposed brick walls and timber flooring. First floor storage and office. Three bed living accommodation to the second floor. Beer cellar and stores to the basement.

    Tenure

    The Property is held freehold. The entire Property is let on a 10 year lease to S Westwood commencing 24th February 2014. Current rental of £28,003 per annum, subject to annual RPI linked rental increases.

    VAT

    It is envisaged that the Property will be sold as a TOGC so the transaction should therefore be exempt from VAT.

    Planning

    Our enquiries of the local authority have revealed that the Property is not listed and is within a Conservation Area.

    Rateable value

    The subject Property is listed within the 2017 Rating List with a rateable value of £62,500.

    LOCATION

    Location: Dog & Doublet, North Street, Wolverhampton, WV1 1RE

    Wolverhampton (0.4 miles)

    Bilbrook (3.4 miles)

    Coseley (3.4 miles)

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