Investment for sale - Stowey Arms, Exminster, Exeter, EX6 8AT

<strong>Description</strong><br>The property comprises the ground and first floor of a two storey detached building with painted pebbledash elevations beneath a pitched tiled roof.<br /> <br /> Ground Floor: The ground floor provides a games area with a private hire area to the rear. The dining area comprises a central bar servery and seating at loose tables, chairs and couches for 50 customers. Ancillary areas include a trade kitchen, customer WC's, stores and a ground floor cellar.<br /> <br /> First Floor: The first floor comprises three double ensuite bedrooms, a single ensuite bedroom, private staff accommodation providing two bedrooms, lounge, bathroom and kitchen.<br /> <br /> Externally: There are loose picnic benches to the front of the property for 20 customers. To the rear is a further external trade area for approximately 30 customers. There is parking to the front for 20 vehicles.<br><br><strong>Tenancy</strong><br>The entire property is let to a private individual on a 5 year lease from 31 July 2024 at a current rent of £29,232 per annum, and an annual tie release fee of £33,170 which are both subject to annual reviews reflecting the change in the RPI over the preceding 12 months, subject to a minimum increase of 2% and a maximum increase of 6%. A rent deposit of £3,674 is held by the landlord. The lease is contracted out of the security of tenure provisions of the Landlord and Tenant Act 1954.<br><br>