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Vine Inn, 13 Churchgate, DN22

For sale: £540,000.00|0.17 Acre|Other, Pubs/Bars/Clubs, Other Property Types & Opportunities, Licensed & Leisure

Property details

FOR SALE£540,000.00
SIZE0.17 Acre
ADDRESSVine Inn, 13 Churchgate, Retford, DN22 6PA
TYPEOther, Pubs/Bars/Clubs, Other Property Types & Opportunities, Licensed & Leisure
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON11th April 2024

Description

Key Points

  • Freehold public house investment
  • Entire property let to an individual operator
  • Property arranged over ground, first and second floors
  • Current rent of £63,698 per annum
  • Lease expires February 2032
  • The rent is subject to five yearly open market rent reviews and annual uncapped RPI
  • We are instructed to invite offers in excess of £540,000 (11.25% NIY)
  • Business unaffected by sale
  • Summary

    Freehold public house investment

    Description

    The property comprises a three storey mid terraced building of brick elevations set beneath a pitched tile covered roof. To the rear is a substantial single storey flat roof extension.

    Ground Floor:
    The ground floor is accessed via an archway leading into a public bar and lounge. Bar servery to the side. To the rear is a games room/sports lounge. Ancillary areas include beer cellar and customer WC's.

    First Floor:
    Living accommodation consisting of kitchen with dining area, lounge and bathroom. Staff WC.

    Second Floor:
    Three bedrooms.

    Externally:
    Beer patio to the rear with bottle bar.

    Location

    Retford is a market town located in the Bassetlaw District of Nottinghamshire, 26miles (42 kilometres) east of Sheffield and 30 miles (48 kilometres) north east of Nottingham.

    The Vine Inn is located fronting Churchgate, opposite St Swithun's Church, in Retford town centre. Surrounding occupiers are a mixture of national and independent retailers upon the nearby pedestrianised Market Place.

    Tenure

    The property is held freehold (Title Number NT357940).

    Tenancy

    The entire property is let to a private individual on a 13.75 year lease from 22 May 2018 at a current rent of £63,698 per annum which is subject to five yearly open market reviews and annual uncapped RPI (except in the open market review year). A rent deposit of £15,676 is held by the landlord

    Planning

    The property is Grade II Listed and is situated within the Retford 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

    D-76.

    Terms

    We are instructed to invite offers in excess of £540,000 (11.25% NIY) assuming the usual purchasers costs.

    Fixtures and Fittings

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

    Money Laundering

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

    Viewing and 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: Vine Inn, 13 Churchgate, Retford, DN22 6PA

    Retford (0.6 miles)

    Worksop (7.5 miles)

    Gainsborough Lea Road (8.2 miles)

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