Investment for sale - Church House Inn, Marldon, Paignton, TQ3 1SL

<strong>Description</strong><br>The property comprises the ground and first floor of a two storey detached building with painted 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, chairs and stools for 80 customers with a function room on the upper ground floor for 35 customers. Ancillary areas include a trade kitchen, customer WC's and stores to the rear.<br /> <br /> First Floor: The first floor provides an office, bathroom, kitchen and three bedrooms.<br /> <br /> Outbuilding: There is an outdoor cellar, stores and disabled WC.<br /> <br /> Externally: There is an enclosed customer area to the rear with seating on wooden benches for 40 customers and additional seating adjacent to the car park for 20 customers. There is parking to the rear for 25 vehicles.<br><br><strong>Tenure</strong><br>The property is held freehold (Title Number DN443959).<br><br><strong>Tenancy</strong><br>Entire property let to two private individuals on a 20 year lease from 17 August 2021 at a current rent of £69,137 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 £14,197 is held by the landlord.<br><br><strong>Planning</strong><br>The property is Grade II Listed but is not situated within 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>D-87<br><br><strong>Terms</strong><br>We are instructed to invite offers in excess of £700,000 (9.38% 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. For further information and all viewing requests please contact the sole selling agents Savills.<br><br>