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Agent's details

Trowbridge Arms, 128-130 Coronation Avenue, BA2

For sale: £640,000.00|0.14 Acre|Pubs/Bars/Clubs, Other, Licensed & Leisure, Other Property Types & Opportunities

Property details

FOR SALE£640,000.00
SIZE0.14 Acre
ADDRESSTrowbridge Arms, 128-130 Coronation Avenue, Bath, BA2 2JP
TYPEPubs/Bars/Clubs, Other, Licensed & Leisure, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON11th April 2024

Description

Key Points

  • Freehold public house investment
  • Entire property let to two private individuals
  • Property arranged over ground, basement and first floors
  • Current rent of £43,594 per annum
  • We are instructed to invite offers in excess of £640,000 (6.5% NIY)
  • Lease expires February 2032
  • The rent is subject to five yearly open market rent reviews and annual uncapped RPI increases
  • Business unaffected by sale
  • Summary

    Freehold public house investment for sale let February 2032 at a rent of £43,594 per annum

    Description

    The property comprises the ground, basement and first floor of a two storey detached building with stone elevations beneath a pitched and hipped roof.

    Location

    Located in a suburb of the Cathedral City of Bath in the county of Somerset, 1.6 miles (2.6 kilometres) southwest of the Bath city centre and 12.6 miles (20.3 kilometres) south east of Bristol.

    Trowbridge House is situated fronting Coronation Avenue in a densely populated residential area which is in proximity to Oldfield Park train station and a University of Bath SU building.

    Accommodation

    Ground Floor: The ground floor provides an open plan trading area with a central bar servery and seating on loose tables and chairs for 44 customers. Ancillary areas include customer WC’s.

    Basement: Skittle alley, customer WC’s and beer cellar.

    First Floor: The first floor comprises living accommodation with four bedrooms (two en-suite), kitchen, living room and bathroom.

    Externally: There is a customer terrace and covered smoking solution to the rear.

    Tenure

    The property is held freehold (Title Number AV213597).

    Tenancy

    The entire property is let to two private individuals on 13.5 year lease from 18 August 2018 at a current rent of £43,594 per annum which is subject to five yearly open market reviews and annual RPI increases (except in the open market review year). A rent deposit of £10,490 is held by the landlord.

    Planning

    The property is not listed or situated within a 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 the purchasing entity is VAT registered.

    EPC

    E-101

    Terms

    We are instructed to invite offers in excess of £640,000 (6.5% 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: Trowbridge Arms, 128-130 Coronation Avenue, Bath, BA2 2JP

    Oldfield Park (0.7 miles)

    Bath Spa (1.3 miles)

    Freshford (4.2 miles)

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