Draughts, 34 Eltham High Street

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Key Points

Summary

Freehold Public House Investment For Sale

Description

The property comprises the ground, basement, first and second floor of a three storey end of terrace building with painted brick elevations beneath a pitched and hipped roof..

Ground Floor: The ground floor provides an open plan trading area with a central bar servery and seating on loose tables, chairs and bench seating for 50 customers. Ancillary areas include a former kitchen and customer WC’s.

Basement: Cellar and stores.

First Floor: The first floor comprises the former function room and WC.

Second Floor: The second floor provides manager’s accommodation comprising three bedrooms, kitchen, bathroom and living room.

Externally: There is an enclosed customer area to the rear with seating on loose tables and chairs for 60 customers.

Location

Located in Greater London, 10 miles (16 kilometres) south east of Central London and 4.3 miles (6.7 kilometres) south of Greenwich. Eltham is a London commuter town and is home to former royal residence, Eltham Palace.

Draughts is situated in the centre of town in a commercial area where operators such as McDonalds and Tesco Express are also located.

Tenure

The property is held freehold (Title Number 71551).

Tenancy

The entire property is let to two private individuals on a 15 year lease from 1 December 2017 at a current rent of £65,341 per annum which is subject to five yearly open market reviews and annual uncapped RPI increases. A rent deposit of £15,344.50 is held by the landlord.

Planning

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

Data Room

https://sites.savills.com/tavernportfolio/en/page_171176.php

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

An EPC is in the course of preparation.

Terms

We are instructed to invite offers in excess of £1,050,000 (5.88% 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.

Fixtures & Fittings

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