Freehold Public House Investment
The Property comprises a detached two storey public house of brick elevations beneath a pitched tile covered roof. There are beer patios to the front and rear with car parking for five vehicles to the side.
All viewings must be arranged strictly by appointment with the sole selling agents Savills.
The Property is located in the residential area of Beswick, two miles to the east of Manchester city centre. The Townley Hotel is situated in a residential area close to the A6010 and A662. The Etihad Stadium, home to Manchester City football club, is less than half a mile from the public house.
We are instructed to invite offers in excess of £555,000 (9.21% 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.
Traditional open plan trading accommodation providing areas for both informal socialising and pub games activities. The single bar servery extends into a small function room to the rear. Ground floor kitchen and cellar. Extensive first floor living accommodation with three bedrooms.
The Property is held freehold. The entire Property is let on a 10 year lease to A Carroll & P Carroll commencing 17th March 2017. Current rental of £51,168 per annum, subject to annual RPI linked rental increases and five yearly open market reviews.
It is envisaged that the Property will be sold as a TOGC so the transaction should therefore be exempt from VAT.
Our enquiries of the local authority have revealed that the Property is not listed nor within a Conservation Area.
The subject Property is listed within the 2017 Rating List with a rateable value of £4,800.
Ashburys (0.6 miles)
Ardwick (0.7 miles)
Manchester Piccadilly (1.1 miles)