Investment for sale - Fox, Waterloo Road, Bognor Regis, PO22 7EH

<strong>Description</strong><br>The property comprises the ground and first floor of a two storey detached building with exposed brick and flint elevations beneath a pitched roof.<br><br><strong>Tenure</strong><br>The property is held freehold (Title Number WSX193603) as outlined in the above promap with the area outlined in blue sold off on a 99 year lease from 25 March 1967 at a peppercorn rent.<br><br><strong>Tenancy</strong><br>The entire property is let to Lillywhite Pub Group Limited on a 20 year lease from 29 July 2022 at a current rent of £102,000 per annum which is subject to five yearly open market rent reviews and annual RPI increases with a collar of 2% and cap of 5% (except in the open market review year). A rent deposit of £26,797 is held by the landlord.<br><br><strong>Planning</strong><br>The property is not listed but is situated within Felpham 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>E - 108<br><br><strong>Terms</strong><br>We are instructed to invite offers in excess of £1,480,000 (6.50% 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>