Investment for sale - The Rat and Pigeon, 33 Back Piccadilly, Manchester, M1 1HP

<strong>Description</strong><br>The property comprises the ground, basement and two upper floors of a three storey corner building with painted brick elevations beneath a pitched roof.<br><br><strong>Accomodation</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 bench seating for 50 customers. Ancillary areas include a trade kitchen, customer WC's and stores to the rear.<br /> <br /> First Floor: The first floor comprises a venue for 65 customers with a bar servery and small lounge.<br /> <br /> Second Floor: The second floor comprises a games room and a further public bar with seating for 40 customers alongside a band room and WC.<br /> <br /> Basement: The basement provides a cellar, office and stores.<br><br><strong>Tenure</strong><br>The property is held freehold (Title Number GM871494).<br><br><strong>Tenancy</strong><br>The entire property is let to M1 1HP Ltd on a 20 year lease from 13 July 2023 at a current rent of £66,950 per annum which is subject to five yearly open market reviews (from the 10th anniversary) and annual RPI increase with a collar of 1% and a cap of 4% (except in the open market review year). A rent deposit of £14,646 is held by the landlord.<br><br><strong>Planning</strong><br>The property is not listed however it is situated within Stevenson Square 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>In the course of preparation.<br><br><strong>Terms</strong><br>We are instructed to invite offers in excess of £885,000 (7.16% 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. For further information and all viewing requests please contact the sole selling agents Savills.<br><br><strong>Similar Investment Opportunities</strong><br>If you have an ongoing requirement for similar investment opportunities then please visit the following website for a selection of properties we are currently marketing: https://sites.savills.com/stonegateportfolio<br><br>