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Agent's details

Half Moon Inn, The Street, IP21

For sale: £510,000.00|0.67 Acre|Other, Pubs/Bars/Clubs, Other Property Types & Opportunities, Licensed & Leisure

Property details

FOR SALE£510,000.00
SIZE0.67 Acre
ADDRESSHalf Moon Inn, The Street, Rushall, Diss, IP21 4QD
TYPEOther, Pubs/Bars/Clubs, Other Property Types & Opportunities, Licensed & Leisure
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON30th May 2024

Description

Key Points

  • Freehold public house investment
  • Entire property let to Arnold Marsh Limited
  • Property arranged over ground and first floors with additional accommodation comprising an antiques shop and six en-suite letting bedrooms
  • Current rent of £45,427 per annum
  • We are instructed to invite offers in excess of £510,000 (8.5% NIY)
  • Lease expires July 2046
  • The rent is subject to five yearly open market rent reviews and annual RPI increases subject to a collar of 2% and cap of 4%
  • Business unaffected by sale
  • Summary

    Freehold public house investment for sale let until July 2046 at a rent of £45,427 per annum

    Description

    The property comprises the ground and first floor of a two storey detached building with brick elevations beneath a multi pitched tile roof. There is a detached L shaped accommodation block to the rear of the car park.

    Location

    Located in the village of Rushall in the district of South Norfolk, 24.3 miles (39.2 kilometres) northeast of Bury St Edmunds and 16.2 miles (26.0 kilometres) south of Norwich.

    The Half Moon Inn is situated in a rural area on Harleston Road which gives access to the A140 and nearby the 100th Bomber Group memorial and museum.

    Availability_text

    The accommodation comprises the following areas:

    Tenure

    The property is held freehold (Title Number NK135130).

    Tenancy

    The entire property is let to Arnold Marsh Limited on a 25 year lease from 20 July 2021 at a current rent of £45,427 per annum which is subject to five yearly open market reviews and annual RPI increases with a collar of 2% and cap of 4%. A rent deposit of £10,946 is held by the landlord.

    Planning

    The property is not situated within a conservation area, however it is Grade II Listed.

    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 the purchasing entity is VAT registered.

    EPC

    D-99

    Terms

    We are instructed to invite offers in excess of £510,000 (8.5% 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 prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.

    Location

    marker
    Location: Half Moon Inn, The Street, Rushall, Diss, IP21 4QD

    Diss (4.8 miles)

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