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Agent's details

Three Horseshoes, Main Road

For sale: £875,000.00|0.54 Acre|Other, Pubs/Bars/Clubs, Other Property Types & Opportunities, Licensed & Leisure

Property details

FOR SALE£875,000.00
SIZE0.54 Acre
ADDRESSThree Horseshoes, Main Road, Knockholt, Sevenoaks, TN14 7LD
TYPEOther, Pubs/Bars/Clubs, Other Property Types & Opportunities, Licensed & Leisure
TENUREFor Sale Freehold
POSTED ON14th April 2023

Description

Key Points

  • Freehold public house investment
  • Entire property let to the Three Horseshoes (Knockholt) Limited
  • Current rent of £58,879 per annum
  • Lease expires May 2038
  • The rent is subject to five yearly open market rent reviews and annual uncapped RPI increases
  • We are instructed to invite offers in excess of £875,000 (6.37% NIY)
  • Business unaffected by sale
  • Summary

    For Sale - Freehold Public House Investment

    Description

    The property comprises the ground, basement, first and second floor of a three storey detached building with painted and rendered brick elevations beneath a pitched roof. The property has been extended to the side and rear. To the right hand elevation are three single storey garages.

    Location

    Knockholt is a village in the county of Kent 5.5 miles (8.8 kilometres) north of Sevenoaks and 5.5 miles (8.8 kilometres) south of Orpington. Knockholt is an attractive residential area on the edge of the North Downs.

    The Three Horseshoes is situated fronting Harrow Road in the centre of the village where local amenities including Knockholt Village Hall and Knockholt Cricket Club are also located.

    Accomodation

    Ground Floor: The ground floor provides a bar area and dining room with a central bar servery and seating on loose tables and chairs for 54 customers. Ancillary areas include a trade kitchen and customer WC’s.

    First Floor: The first floor provides manager’s accommodation comprising three bedrooms, living room, bathroom, WC and kitchen.

    Second Floor: The second floor attic provides two bedrooms.

    Basement: Beer cellar and stores.

    Externally: There is a large trade patio and lawn area to the rear with seating on loose tables and chairs for over 150 customers. Additional seating is provided to the front elevation for a further 54 customers. There is a car park to the side for 24 vehicles.

    Tenure

    The property is held freehold (Title Number SGL34671).

    Tenancy

    The entire property is let to The Three Horseshoes (Knockholt) Ltd on a 20 year lease from 31 May 2018 at a current rent of £58,879 per annum which is subject to five yearly open market rent reviews and annual uncapped RPI increases. A rent deposit of £13,859 is held by the landlord.

    Planning

    The property is not listed or situated within a conservation area.

    VAT

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

    EPC

    D-85.

    Terms

    We are instructed to invite offers in excess of £875,000 (6.37% NIY) assuming the usual purchasers costs.

    Money Laundering

    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.

    Location

    marker
    Location: Three Horseshoes, Main Road, Knockholt, Sevenoaks, TN14 7LD

    Knockholt (2.0 miles)

    Dunton Green (2.5 miles)

    Chelsfield (2.9 miles)

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