icons_size_white icons_size
menu

Agent's details

Horse & Groom, Rushlake Green

For sale: £425,000.00|2,777 Sq Ft|Pubs/Bars/Clubs, Licensed & Leisure

Property details

FOR SALE£425,000.00
SIZE2,777 Sq Ft
ADDRESSHorse & Groom, Rushlake Green, Rushlake Green, TN21 9QE
TYPEPubs/Bars/Clubs, Licensed & Leisure
TENUREUnder Offer, For Sale Freehold
POSTED ON5th November 2021

Description

Key Points

  • Free of Tie Public House Investment
  • Grade II Listed
  • Let to good individual operator
  • Strong underlying property value
  • Business unaffected by sale
  • To be sold as a portfolio or individually
  • Guide price for the portfolio of £1,760,000, reflecting a 6.22% NIY and a reversionary yield of 7.76%
  • Summary

    Free of Tie Public House Investment

    Description

    The property comprises an attractive detached building arranged over two levels. The building is constructed of rendered brick with a pitched clay tiled roof and single glazed fenestration. Externally, there is a car park to the front and a beer garden to the front and side. Internally the pub is traditional and cosy in style with exposed beams and wood panelling. The bar is positioned centrally with seating either side.

    Location

    The Horse & Groom is located between the villages of Cow Beech and Three Cups Corner, approximately 7 miles (11 kilometres) north of Hailsham. The Horse & Groom is set back on Cow Beech Road, at the point where it meets Rookery Lane. The surrounding area is rural and almost solely residential.

    Planning

    The property is Grade II Listed. The property does not lie within a conservation area. The property currently holds A4 ’Sui Generis’ planning use class consent. The Local Authority for the property is Wealden District Council.

    Tenure

    Freehold

    Tenancy

    Commencement of Lease: 16th March 2018 Inside the L&T; Act 1954 II: Yes Current rent per annum: £35,000 Annual RPI Increase: No Stepped Increases Yes – £40,000pa (16/03/21) Next Rent Review: 16th March 2023 Rent Review: Market Rent Lease Expires: 15th March 2028 Break Clause: Yes - Tenant break 16th March 2023

    Covanent

    The property is let to a private individual

    Rateable Value

    £29,500

    Price

    £425,000, representing a Net Initial Yield of 9.02%

    Location

    marker
    Location: Horse & Groom, Rushlake Green, Rushlake Green, TN21 9QE

    Stonegate (5.9 miles)

    Robertsbridge (7.3 miles)

    Etchingham (7.3 miles)

    close
    What do you think of our website?
    Complete our survey and
    you could win £1000
    Start here