Investment for sale - Rose & Crown, Fletching Street, Mayfield, TN20 6TE

<strong>Description</strong><br>The property comprises the basement, ground, first and second floor floor of a three storey detached building with painted brick and weatherboarded construction beneath a clay tile hipped roof.<br><br><strong>Tenancy</strong><br>Entire property let to Rose And Crown Inns Limited on a 35 year lease from 8 June 2006 at a current stepped rent of £42,500 per annum which is subject to five yearly open market rent reviews. The lease benefits from stepped rental uplifts which will then revert to open market reviews thereafter, as follows:-<br /> 2026: £42,500 pa<br /> 2027: £43,000 pa <br /> 2028: £43,500 pa<br /> 2029: £44,000 pa <br /> 2030: £45,000 pa<br><br><strong>Tenure</strong><br>The property is held freehold (Title Number ESX290454).<br><br><strong>Planning</strong><br>The property is Grade II Listed, but is not situated in a 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>The EPC has been commissioned and will be provided in due course upon request.<br><br><strong>Terms</strong><br>We are instructed to invite offers in excess of £500,000 (8.12% 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>AML</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>Viewings</strong><br>All viewings must be made by prior appointment. For further information and all viewing requests please contact the sole selling agents Savills.<br><br>