Investment for sale - Kerfield Arms, 16 Grove Lane, Denmark Hill, London, SE5 8SY

<strong>Description</strong><br>The property comprises the basement, ground and first floors of a two storey detached building with exposed brick and painted front and side elevations beneath a multi-pitched roof behind a parapet wall.<br><br><strong>Accommodation</strong><br>Basement: The basement provides cellar and stores. <br /> <br /> Ground Floor: The ground floor provides an open plan bar and restaurant area with a central bar servery and seating on loose tables, chairs and bench seating for 86 customers. Ancillary areas include a disabled toilet located to the rear. <br /> <br /> First Floor: The first floor provides a private function room with separate bar servery and seating for 15 customers. Ancillary areas include customer WC’s, trade kitchen, managers office and dry store.<br /> <br /> Externally: To the front elevation is seating on loose tables and chairs for 18 customers which is held by way of a pavement licence.<br><br><strong>Tenancy</strong><br>Entire property let to The Kerfield Arms Limited (Company No. 15939328) on a 15 year lease from 15 January 2025 at a current rent of £125,000 per annum which is subject to 5 yearly rent reviews to the greater of open market rent or a 10% increase. The lease is excluded from the 1954 Landlord and Tenant Act and is held on a full repairing and insuring basis with the tenants repairing obligation subject to a schedule of condition. <br /> <br /> A rent deposit of £150,000 is held by the landlord.<br><br><strong>Covenant</strong><br>The Kerfield Arms is a stylish Michelin Star public house in Camberwell serving modern British and Mediterranean food. The property is operated by Adam Symonds and Rob Tecwyn with the kitchen operated by Jay Styler. <br /> <br /> The tenant also operates the Baring Arms in Islington which is held under a separate tenant company.<br><br><strong>Tenure</strong><br>The property is held freehold (Title Number TGL179664).<br><br><strong>Planning</strong><br>The property is not listed nor is it 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>B - 46.<br><br><strong>Terms</strong><br>We are instructed to invite offers in excess of £1,570,000 (7.5% 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>