Investment for sale - Lyceum Tavern, 110 Malpas Road, Newport, NP20 5PL

<strong>Description</strong><br>The property comprises the ground, basement and first floor of a two storey terraced corner building with brick elevations beneath a multi pitched tile roof.<br><br><strong>Accommodation</strong><br>Ground Floor: The ground floor comprises two open plan trading areas with a central bar servery and seating on loose tables, chairs and bench seating for 108 customers. Ancillary areas include customer WC’s located to the rear. <br /> <br /> Basement: Cellar and stores.<br /> <br /> First Floor: The first floor comprises of a private function room with a separate bar servery as well as managers accommodation with two bedrooms, a bathroom and living room.<br /> <br /> Externally: There is an enclosed customer area to the rear of the property with seating on loose tables and chairs for 20 customers.<br><br><strong>Tenure</strong><br>The property is held freehold (Title Number WA661492).<br><br><strong>Tenancy</strong><br>The entire property is let to Jacoler Limited on a 25 year lease from 1 January 2022 at a current rent of £34,000 per annum which is subject to five yearly open market reviews. A rent deposit of £8,534 is held by the landlord.<br><br><strong>Planning</strong><br>The property is not listed nor it is situated within a 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>D-80<br><br><strong>Terms</strong><br>We are instructed to invite offers in excess of £330,000 (9.94% 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>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/tavernportfolio<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>