Description
The property comprises the ground, basement and first floor of a two storey end of terrace building with painted rendered elevations beneath a pitched and hipped roof.

Specifications
Accommodation

Basement: The basement comprises the cellar, office and a number of stores.

Ground: The ground floor provides an open plan trading area with central bar servery and a raised VIP seating area. Ancillary areas comprise customer WC's, trade kitchen which is not currently used and stores. There is a separate entrance to the first floor HMO with a domestic kitchen at ground floor.

First Floor: The first floor comprises an 11 bedroom HMO with two kitchens, lounge and three shower rooms.

External: There is a seating terrace fronting Puddling Lane on wooden benches which is held by way of a pavement licence.

Tenure
The property is held freehold (Title Number K342036).

Tenancy
The entire property is let to a private individual on a 20 year lease from 29 March 2018 at a current rent of £72,223 per annum which is subject to five yearly open market reviews and annual uncapped RPI (except in the open market review year). A rent deposit of £18,195 is held by the landlord.

Planning
The property is Grade II Listed and situated within Maidstone Conversation Area.

VAT
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.

EPC
E-120

Terms
We are instructed to invite offers in excess of £795,000 (8.6% NIY) assuming the usual purchasers costs.

Fixtures and Fittings
The fixtures and fittings are currently owned by the occupational tenant.

Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.

Similar Investment Opportunities
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

Viewings
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.

Commercial Property in 23-24 Market Buildings

Investment for sale - Zoo, 23-24 Market Buildings, Maidstone, ME14 1HP