Investment for sale - Kings Head, Quay Street, Yarmouth, PO41 0PB

<strong>Description</strong><br>The property comprises the ground and first floors of a two storey semi-detached building with painted rendered elevations beneath a pitched roof.<br><br><strong>Accommodation</strong><br>Ground Floor: The ground floor provides an open plan trading area with a central bar servery and seating on loose tables and chairs for 60 customers. Ancillary areas include a trade kitchen, customer WC's, ground floor cellar and additional stores.<br /> <br /> First Floor: The first floor provides a kitchenette, lounge and four bedrooms.<br /> <br /> Second Floor: The second floor provides two additional rooms in the roof eaves.<br /> <br /> Externally: There is an enclosed courtyard beer garden with seating on wooden benches for 30 customers.<br><br><strong>Tenure</strong><br>The property is held freehold (Title Number IW49567).<br><br><strong>Tenancy</strong><br>Entire property let to a private individual on a 20 year lease from 18 March 2019 at a current rent of £72,520 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 £18,831 is held by the landlord.<br><br><strong>Planning</strong><br>The property is Grade II Listed and situated within the Ise of Wight 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-58<br><br><strong>Terms</strong><br>We are instructed to invite offers in excess of £865,000 (7.94% 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>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>