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Agent's details

Royal Oak, 23 Town Lane, CH64

For sale: £850,000.00|0.01 - 0.6 Acre|Other, Pubs/Bars/Clubs, Other Property Types & Opportunities, Licensed & Leisure

Property details

FOR SALE£850,000.00
SIZE0.01 - 0.6 Acre
ADDRESSRoyal Oak, 23 Town Lane, Little Neston, Neston, CH64 4DE
TYPEOther, Pubs/Bars/Clubs, Other Property Types & Opportunities, Licensed & Leisure
TENUREFor Sale Freehold
POSTED ON10th April 2024

Description

Key Points

  • Freehold public house investment
  • Entire property let to an individual operator
  • Current rent of £74,319 per annum
  • The rent is subject to five yearly open market rent reviews and annual uncapped RPI increases
  • Lease expires April 2037
  • We are instructed to invite offers in excess of £850,000 (8.28% NIY)
  • Business unaffected by sale
  • Summary

    Freehold Public House Investment For Sale

    Description

    The property comprises the ground, basement, and first floor of a two storey detached public house with brick and rendered elevations beneath a pitched tile roof.

    Basement: Beer cellar and storage.

    Ground Floor: The ground floor provides split trading accommodation, with the main lounge bar providing seating for 45 customers and the public bar providing seating for 25 customers over loose tables, chairs and fixed bench seating. Ancillary areas include the customer WC’s, a single gentlemen’s WC, and an accessible toilet.

    First Floor: The first floor comprises manager’s accommodation consisting of three bedrooms, living room, kitchen, office, and WC.

    Location

    Little Neston on the Wirral Peninsula, 10 miles (16 kilometres) from Chester and 12 miles (19 kilometres) South of Liverpool. Little Neston is an attractive village situated a short distance from Neston town centre.

    The Royal Oak Hotel is situated fronting Mellock Lane in a predominantly residential area.

    Tenure

    The Property is held freehold (Title Number CH468168).

    Tenancy

    The entire property is let to two private individuals on a 20 year lease from 6 April 2017 at a current rent of £74,319 per annum which is subject to five yearly open market reviews and annual uncapped RPI increases. A rent deposit of £17,915.72 is held by the landlord.

    Planning

    The Royal Oak Hotel is a not listed or situated within 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

    D-82.

    Terms

    We are instructed to invite offers in excess of £850,000 (8.28% NIY).

    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.

    Location

    marker
    Location: Royal Oak, 23 Town Lane, Little Neston, Neston, CH64 4DE

    Neston (0.7 miles)

    Heswall (3.3 miles)

    Eastham Rake (3.3 miles)

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