icons_size_white icons_size

Pig & Whistle, Chignal Road

For sale: £425,000.00|0.32 Acre|Pubs/Bars/Clubs, Other, Licensed & Leisure, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALE£425,000.00
SIZE0.32 Acre
ADDRESSPig & Whistle, Chignal Road, Chignal Smealey, Chelmsford, CM1 4SZ
TYPEPubs/Bars/Clubs, Other, Licensed & Leisure, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON17th November 2020

DESCRIPTION

Key Points

  • Free of Tie Public House Investment - Business Unaffected
  • The property currently holds A4 ‘Sui Generis’ planning use class consent.
  • 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 - Business Unaffected

    Description

    The property comprises a detached building arranged over two levels. The building is constructed of rendered brick, with a clay tiled pitched roof. Externally to the front is a car park for approximately 40 vehicles, as well as a trade garden. To the rear is a courtyard. Internally the pub is traditional and cosy in style with exposed beams and wood panelling. The bar servery occupies a central position with seating surrounding it.

    Planning

    The property is not 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 Chelmsford City Council.

    Tenure

    Freehold

    Tenancy

    Commencement of Lease: 1st January 2019 Inside the L&T; Act 1954 II: No Current rent per annum: £31,250 Annual RPI Increase: No Stepped Increases Yes - Y3 £32.5kpa Y4 £33.75kpa Y5 £35kpa Next Rent Review: 1 January 2024 Lease Expires: 31st December 2034 Break Clause: No Approx Term Certain: 14 years

    Covenant

    The property is let to Pig & Whistle Essex Ltd.

    Rateable Value

    £7,500

    Energy Performance Certificate

    D-97

    Price

    £425,000, representing a Net Initial Yield of 6.77%

    Viewings

    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.

    LOCATION

    Location: Pig & Whistle, Chignal Road, Chignal Smealey, Chelmsford, CM1 4SZ

    Chelmsford (3.6 miles)

    Hatfield Peverel (7.5 miles)

    Ingatestone (7.9 miles)

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