Investment for sale - Swan Hotel, 59 High Street, Hythe, CT21 5AD

<strong>Description</strong><br>The property comprises the ground, first and second floors of a three storey mid-terrace building with exposed brick elevations beneath a pitched and hipped roof.<br><br><strong>Accommodation</strong><br>Ground Floor:<br /> The ground floor provides an open plan trading area with central bar servery and seating on loose tables, chairs and stools for 34 customers. To the rear is a restaurant area with a separate bar servery and further seating on tables and chairs for 34 customers. Ancillary areas include a trade kitchen, customer WC's, cellar and stores. <br /> <br /> First Floor:<br /> The first floor provides nine en-suite letting rooms and auxiliary facilities including laundry room and office.<br /> <br /> Second Floor:<br /> The second floor provides staff accommodation comprising six bedrooms.<br /> <br /> Externally:<br /> There is parking to the rear for 7 vehicles.<br><br><strong>Tenure</strong><br>The property is held freehold (Title Number K829839).<br><br><strong>Tenancy</strong><br>Entire property let to Patels Group Limited on a 20 year lease from 30 October 2020 at a current rent of £70,620 per annum which is subject to five yearly open market rent reviews and annual uncapped RPI increases (except in the open market review year). A rent deposit of £18,197 is held by the landlord.<br><br><strong>Planning</strong><br>The property is Grade II Listed and is situated within the Folkestone and Hythe Conservation Area.<br><br><strong>Fixtures & Fittings</strong><br>The fixtures and fittings are currently owned by the occupational tenant.<br><br><strong>EPC</strong><br>C-71<br><br><strong>Terms</strong><br>We are instructed to invite offers in excess of £710,000 (9.44% NIY) assuming the usual purchasers costs.<br><br><strong>VAT</strong><br>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.<br><br><strong>Money Laundering</strong><br>Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.<br><br><strong>Similar Investment Opportunities</strong><br>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:<br /> https://sites.savills.com/stonegateportfolio<br><br><strong>Viewings</strong><br>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.<br><br>