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Agent's details

Castle, Oxford Road, RG14

For sale: £610,000.00|0.48 Acre|Other, Pubs/Bars/Clubs, Other Property Types & Opportunities, Licensed & Leisure

Property details

FOR SALE£610,000.00
SIZE0.48 Acre
ADDRESSCastle, Oxford Road, Donnington, Newbury, RG14 3AA
TYPEOther, Pubs/Bars/Clubs, Other Property Types & Opportunities, Licensed & Leisure
TENUREFor Sale Freehold
POSTED ON13th June 2024

Description

Key Points

  • Freehold public house investment
  • Entire property let to The Greek Table Limited
  • Property arranged over ground, basement and first floor
  • Current rent of £40,000 per annum
  • We are instructed to invite offers in excess of £610,000 (6.2% NIY)
  • Lease expires November 2033
  • 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 November 2033 at a rent of £40,000 per annum

    Description

    The property comprises the ground, basement and first floor of a two storey detached building with painted and brick elevations beneath a multi pitched tiled roof.

    Location

    Located in the village of Donnington in the county of Berkshire, 1.3 miles (2.1 kilometres) north of Newbury and 17.3 miles (27.8 kilometres) west of Reading.

    The Castle is in a corner position at the junction of Oxford Road and Love Lane on a primary road in a semi-rural residential area which is a short distance south from Castle School, Vodafone HQ and Donnington Castle.

    Availability_text

    The accommodation comprises the following areas:

    Accommodation

    Ground Floor: The ground floor provides an open plan trading area with an L shaped bar servery and seating on loose tables and chairs for 80 customers. Ancillary areas include a trade kitchen and customers WC’s.

    Basement: Cellar and stores.

    First Floor: The first floor comprises staff accommodation across two flats, a one bedroom flat comprising a kitchen, bedroom and bathroom, alongside a separate three bedroom flat comprising a kitchen, lounge, three bedrooms and bathroom. Additionally there is a staff WC and storage room at first floor.

    Externally: There is a customer area to the rear with seating for 35 customers as well as a car park for 19 vehicles and overflow car park opposite for a further 30. vehicles

    Tenure

    The property is held freehold (Title Number BK303599).

    Tenancy

    The entire property is let to The Greek Table Limited on a 10 year lease from 3 November 2023 at a current rent of £40,000 per annum which is subject to five yearly open market reviews and annual RPI increases with a collar of 2% and cap of 4%.

    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

    D-84

    Terms

    We are instructed to invite offers in excess of £610,000 (6.2% 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.

    Similar Investment Opportunities

    If you have an ongoing requirement for similar investment opportunities then please visit the following website for a selection of properties we are currently marketing: https://sites.savills.com/tavernportfolio

    Location

    marker
    Location: Castle, Oxford Road, Donnington, Newbury, RG14 3AA

    Newbury (1.5 miles)

    Newbury Racecourse (1.7 miles)

    Thatcham (4.1 miles)

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