Lansdown, 8 Clifton Road, BS8

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Key Points

Summary

Freehold public house investment for sale let until October 2038 at a current rent of £93,150 per annum

Description

The property comprises the ground, basement and three upper floors of a three storey corner building with painted elevations beneath a pitched and hipped roof.

Location

Located in the city of Bristol in south west England, 1.4 miles (2.2 kilometres) east of Bristol City Centre and 14.8 miles (23.7 kilometres) north west of Bath.

The Lansdown is situated fronting Clifton Road a short distance from Bristol University and in a mixed residential and commercial area. Nearby occupiers include the Barrelhouse (Heineken), the Albion (St Austell Brewery) and a number of independent retailers and restaurants.

Availability_text

The accommodation comprises the following areas:

Accommodation

Ground Floor: The ground floor provides an open plan trading area with a centra lbar servery and seating on loose tables, chairs and bench seating for 38 customers .Ancillary areas include a trade kitchen, customer WC's and stores to the rear.

First Floor: The first floor comprises a function room with a main bar for 58customers.

Second Floor: The second floor comprises, one double bedroom, family bathroom, kitchen, study and living room. Basement: The basement provides a cellar and stores.

Externally: There is an enclosed customer area to the rear with seating on loose tables and chairs for 78 customers. There is no parking.

Tenure

The property is held freehold (Title Number BL36428 ).

Tenancy

The entire property is let to DL Pubs Limited on a 20 year lease from 12 October2018 at a current rent of £93,150 per annum which is subject to five yearly open market reviews and annual uncapped RPI (except in the open market review year). A rent deposit of £45,000 is held by the landlord.

Planning

The property is Grade II Listed and is situated within the Clifton & Hotwells 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

In the course of preparation.

Terms

We are instructed to invite offers in excess of £1,125,000 (7.82% 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.

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.

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/stonegateportfolio