The Swan Inn, IP21

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Key Points

Summary

Freehold Public House Investment For Sale

Description

The subject property comprises a three storey detached public house with traditional brick and rendered elevations under a pitched tiled roof.

The property has a Gross Internal Area of approximately 2,885 sq ft (268 sq m).

Location

The Swan Inn is located on Harleston Road in the village of Fressingfield, Suffolk. Fressingfield lies approximately 12 miles (19 kilometres) east of Diss, Norfolk on the B1116 road which runs south to Weybread.

The immediate area is rural in nature with a number of residential properties and St Peter and St Pauls Church located nearby.

Availability_text

The accommodation comprises the following areas:

Accommodation

Ground Floor: The main trading area within the property is located at the front of the ground floor and comprises of two separate rooms with a centrally positioned bar servery. Seating is arranged across loose tables and chairs (approximately 38 covers). Located to the rear is an additional dining area/events room (approximately 38 covers), with a commercial kitchen, cellar and storage rooms also provided.


First Floor: First floor level provides three double bedrooms, bathroom, living room and a separate WC.

Second Floor: Second floor level provides a central landing and is flanked by an additional two double bedrooms.

Externally: Externally there is a car park to the right elevation (approximately 15 spaces) and beer garden located to the front of the property with seating across wooden benches (approximately 35 covers).

The site is rectangular in shape with an approximate site size of 0.216 acres (0.087 hectares).

Tenure

The property is held freehold (Title Number SK166228).

Tenancy

The entire property is let to a private tenant on a 25 year lease from 13th December 2006 to 12th December 2031 at a current rent of £38,000 per annum, which is subject to five yearly open market rent reviews. A rent deposit of £5,000 is held by the landlord.

Planning

The property is not listed nor is it located within a conservation area, however part of the site is located within a flood zone. The Local Authority is Mid Suffolk District Council.

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

C-59

Terms

We are instructed to invite offers in the order of of £400,000 (9.12% 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.