Investment for sale - 4 The Square, Beaminster, DT8 3AS

<strong>Description</strong><br>The property comprises a commercial restaurant arranged over the ground and first floors and self-contained residential letting accommodation on the second floor. The property is of a stone construction and of three floors above street level under a pitched tile roof occupying an end of terraced location.<br><br><strong>Internal Description</strong><br>GROUND & FIRST FLOORS<br /> The ground floor trading area is fitted out to high standard as a modern restaurant with an open plan trading area and ancillary spaces. <br /> <br /> FIRST FLOOR<br /> The first floor provides the customer WC’s, office, kitchen, stores and part of the manager’s flat with a bathroom and kitchen.<br /> <br /> SECOND FLOOR<br /> 3-bedroom flat which comprises:<br /> Hallway - extra storage cupboards throughout<br /> Kitchen - space for under counter washing machine and fridge<br /> Reception - views over the square<br /> Bedroom 1 - views over the square<br /> Bathroom<br /> Bedroom 2 - double-glazed<br /> Bedroom 3 - double-glazed<br><br><strong>Planning & Conservation</strong><br>The property is administered by Dorset Council and located within Beaminster Town Council. We understand that the property is Grade II listed. <br /> and is located within the Beaminster Conservation Area. <br /> Under the Town and Country Planning (Use Classes) Order 1987 (as amended) we understand the property benefits from Commercial Use Class E (restaurant) use and the residential part C3. We recommend parties satisfy themselves on these points.<br><br><strong>Energy Performance Certificate / Council Tax</strong><br>Domestic Flat 2 EPC D-64 / Council Tax Band-B. <br /> Non-Domestic EPC B-43.<br><br><strong>Tenure & Tenancy</strong><br>The property is held freehold (Title Number: DT186857). The commercial restaurant business is NOT for sale and is unaffected. The commercial property is let to Chidcombe Limited on the remainder of a 6 year lease at a rent of £24,000 per annum. The residential property is let on a 12 month AST at £1,000 per calendar month.<br><br><strong>Terms</strong><br>We are instructed to invite offers at a reduced price of £650,000 which reflects a Net Initial Yield of 5.27% after deducting the usual purchasers costs. The restaurant business will continue to trade unaffected from the premises during the marketing of the property and post completion of the sale. The residential letting property is currently let on a 12 month AST until summer 2025.<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 that the purchasing entity is VAT registered.<br><br><strong>Fixtures & Fittings</strong><br>All trade fixtures and fittings are currently owned by the occupational tenant. Residential fittings are to be confirmed.<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>Viewing</strong><br>All viewings must be made strictly by prior appointment with Savills and under no circumstances should any direct approach be made to any of the occupational tenants' staff or residents.<br><br>