Investment for sale - Gladstone Arms, 64 Lant Street, London, SE1 1QN

<strong>Description</strong><br>The property comprises the basement, ground, first and second floors of a two storey detached building with exposed brick elevations beneath a mansard roof.<br><br><strong>Accommodation</strong><br>Basement: The basement provides cellar and stores as well as a managers office. <br /> <br /> Ground Floor: The ground floor provides an open plan trading area with the bar servery located to the side and seating on loose tables, chairs and benches for 34 customers. Customer WC's are located to the rear.<br /> <br /> First Floor: The first floor provides a private function room with and seating for 20 customers. Ancillary areas include customer WC’s, trade kitchen and a dry store. <br /> <br /> Second Floor: The second floor provides managers accommodation which provides one double bedroom, a living room and bathroom. <br /> <br /> Externally: There is a balcony located on the first floor which provides seating on loose tables, chairs and benches for 10 customers.<br><br><strong>Tenure</strong><br>The property is held freehold (Title Number TGL83680).<br><br><strong>Tenancy</strong><br>Entire property let to Pegz N Frazes Limited on a 15 year lease from 16 December 2016 at a current rent of £80,000 per annum which is subject to 5 yearly open market rent reviews. A rent deposit of £96,000 is held by the landlord.<br><br><strong>Planning</strong><br>The property is not listed however it is situated within the Liberty of the Mint 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>D-79<br><br><strong>Terms</strong><br>We are instructed to invite offers in excess of £1,120,000 (6.75% 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 Regulations</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>