Investment for sale - Windmill, 29 Cherry Orton Road, Peterborough, PE2 5EQ

<strong>Description</strong><br>The property comprises the ground and first floor of a part two and part single storey detached building with exposed brick elevations beneath a pitched roof.<br><br><strong>Accommodation</strong><br>Ground Floor: The ground floor provides an open plan trading area with central bar servery and seating on loose tables, chairs and benches for 75 customers. There is an additional restaurant and function area with further seating for 90 customers. Ancillary areas include a trade kitchen, customer WC's and stores to the rear.<br /> <br /> First Floor: The first floor provides managers accommodation with three double bedrooms, bathroom, domestic kitchen, living room and a managers office.<br /> <br /> External: There is a large enclosed customer area to the rear with seating on loose tables, chairs and benches for approximately 570 customers throughout three different seating areas. There is parking to the rear for 64 vehicles.<br><br><strong>Tenure</strong><br>The property is held freehold (Title Number CB146564).<br><br><strong>Tenancy</strong><br>The entire property is let to The Windmill (Peterborough) Limited on a 20 year lease from 10 December 2019 at a current rent of £79,764 per annum which is subject to five yearly open market reviews and annual RPI increases with a collar of 1% and cap of 4% (except in the open market review year). A rent deposit of £19,323 is held by the landlord.<br><br><strong>Planning</strong><br>The property is not listed but it is situated within the Orton Waterville Conservation Area.<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>EPC</strong><br>C-64<br><br><strong>Terms</strong><br>We are instructed to invite offers in excess of £1,015,000 (7.43% NIY) assuming the usual purchasers costs.<br><br><strong>Fixtures and Fittings</strong><br>The fixtures and fittings are currently owned by the occupational tenant.<br><br><strong>Money Laundering</strong><br>Money Laundering Regulations require Savills to conduct checks upon all prospective 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 /> For further information and all viewing requests please contact the sole selling agents Savills.<br><br>