Freehold Public House Investment
The Property comprises a two storey semi detached public house of painted brick elevations beneath a pitched slate covered roof. Single storey extension to the rear. To the rear is an enclosed beer patio with seating for 50 customers.
All viewings must be arranged strictly by appointment with the sole selling agents Savills.
The Property is located in the suburb of Normanby, five miles to the south of Middlesbrough town centre. The Woodman Arms is situated fronting the B1380 High Street in the centre of Normanby. The nearby A171 and A1053 provides access to Middlesbrough. The immediate locality is commercial in nature, with nearby retailers including Boots Pharmacy and Tesco Express.
We are instructed to invite offers in excess of £495,000 (9.69% 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.
Ground floor traditional trading accommodation providing a wooden floored public bar and a carpeted lounge with an inter-linking bar servery. Customer toilets and former catering kitchen. First floor living accommodation. Beer cellar and stores to the basement.
The Property is held freehold. The entire Property is let on a 20 year lease to Northern Bay Leisure Ltd commencing 7th October 2011. Current rental of £48,000 per annum, subject five yearly rent 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 £35,500.
Marton (1.3 miles)
Gypsy Lane (1.9 miles)
South Bank (2.1 miles)