Fox & Coney, 52 Market Place, HU15

share

bookmark

Key Points

Summary

Freehold Public House Investment For Sale

Description

The property comprises the ground, basement and first floor of a mid terraced building with brick and stone elevations beneath a pitched and hipped roof.

There is a single storey extension to the rear.

Ground Floor: The ground floor provides a lounge bar to the front with seating for 30 customers and rear dining room with seating for a further 45 customers separated by a central bar servery. The trading area extends into a small rear room that can seat 12 additional customers.

Ancillary areas include a trade kitchen, food preparation areas and customer WC’s.

Basement: Beer cellar and stores.

First Floor: The first floor comprises letting accommodation and this also extends into the ground floor of the adjacent building providing a total of 10 en-suite rooms.

Externally: There is an enclosed customer area to the rear with seating on loose tables and chairs for 80 customers and a car park for 15 vehicles.

Location

Located in the village of South Cave in the East Riding of Yorkshire 15.5 miles (24.8 kilometres) west of Hull and 45.6 miles (73 kilometres) east of Leeds.

The Fox and Coney is situated fronting Market Place in the village centre where local facilities and independent retailers are located.

Tenancy

The entire property is let to Brantingham Inns Ltd on a 10 year lease from 7 July 2017 at a current rent of £76,628 per annum which is subject to annual uncapped RPI increases and five yearly open market reviews with the July 2022 review outstanding. A rent deposit of £18,208 and a repair and maintenance fund of £10,030 is held by the landlord.

Planning

The property is Grade II Listed and is situated within South Cave Conservation Area.

VAT

It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT on the basis that the purchasing entity is VAT registered.

EPC

C-71

Terms

We are instructed to invite offers in excess of £980,000 (7.4% NIY) assuming the usual purchasers costs.

Purchasing

Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.

Viewings & Contacts

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.

Virtual Tour

https://vt.ehouse.co.uk/k5KJdeW7Lw5

Fixtures & Fittings

The fixtures and fittings are currently owned by the occupational tenant.