The Green Dragon, 17 Post House Wynd, DL3

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Key Points

Summary

Freehold public house investment

Description

The property comprises a three storey mid terraced public house. The elevations are of brick and stone construction, rendered, set beneath a pitched slate covered roof.

Ground Floor:
The ground floor provides an entrance lobby leading into a traditional open plan trading area with single bar servery. Ancillary areas include a small catering kitchen and customer WC's

First Floor:
Living accommodation consisting of one bedroom, kitchen, lounge and bathroom.

Second Floor:
Two Bedrooms.

Externally:
Beer patio to the rear.

Location

Darlington is a market town located 16 miles (26 kilometres) west of Middlesbrough and 37 miles (60 kilometres) south of Newcastle upon Tyne. The Yorkshire Dales National Park is located a short distance to the South West.

The Green Dragon is located fronting Post House Wynd, a pedestrianised retail street in the town centre. The surrounding occupiers are generally independent retailers

Availability_text

The accommodation comprises the following areas:

Tenure

The property is held freehold on three titles (Title Numbers DU251111, DU380263 and DU302921).

Tenancy

The entire property is let to two private individuals on a 15 year lease from 31 March 2017 at a current rent of £42,000 per annum which is subject to five yearly open market reviews and annual uncapped RPI increase (except in the open market review year). A rent deposit of £10,710 is held by the landlord.

Planning

The property is Grade II Listed and is situated within Darlington Town Centre 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.

Terms

We are instructed to invite offers in excess of £385,000 (10.48% 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.

Viewings 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.