White Horse, Heath Road, CM11

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Key Points

Summary

Freehold public house investment for sale let until December 2039 at a rent of £102,554 per annum

Description

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

Location

Located in the village of Ramsden Heath in the county of Essex, 2.9 miles (4.6 kilometres) west of Billericay, 7.0 miles (11.2 kilometres) north of Basildon and 7.8 miles (12.5 kilometres) south of Chelmsford.

The White Horse is situated at the junction between Heath Road and Church Road in a residential area with Pete's Place coffee shop and two independent retailers directly opposite.

Availability_text

The accommodation comprises the following areas:

Virtual Tour

Please see link below to the Virtual Tour:

https://vt.ehouse.co.uk/tq9T6qPFWH2

Accommodation

Ground Floor: The ground floor is split in to a bar area and restaurant area. The bar area provides an open plan trading area with a central bar servery and seating on loose tables, chairs and bench seating for 60 customers. The restaurant has a separate entrance and provides seating on loose tables and chairs for 92 customers. Ancillary areas comprise two sets of customers WC's, trade kitchen, staff WC and cellar.

Basement: The basement is currently disused.

First Floor: The first floor comprises an office, store and managers accommodation which provides four bedrooms, two bathrooms, kitchen and living room.

Externally: There is an extensive trade garden to the rear with seating for 450 customers on benches and loose tables and chairs. There is a children's play area, external bar servery and customer WC's. To the front and side is parking for 45 vehicles.

Tenure

The property is held freehold (Title Number EX806134).

Tenancy

The entire property is let to The White Horse (Ramsden Heath) Limited on a 20 year lease from 10 December 2019 at a current rent of £102,554 per annum which is subject to five yearly open market reviews and annual RPI increases with a collar of 1% and cap of 4% (except in the open market review year). A rent deposit of £23,992 is held by the landlord.

Planning

The property is Grade II Listed but is not 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-78

Terms

We are instructed to invite offers in excess of £1,380,000 (7.0% NIY) assuming the usual purchasers costs.

Fixture & 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

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.