Description
The property comprises the ground, first and second floors of a three storey mid-terrace building with exposed brick elevations beneath a pitched and hipped roof.

Accommodation
Ground Floor:
The ground floor provides an open plan trading area with central bar servery and seating on loose tables, chairs and stools for 34 customers. To the rear is a restaurant area with a separate bar servery and further seating on tables and chairs for 34 customers. Ancillary areas include a trade kitchen, customer WC's, cellar and stores.

First Floor:
The first floor provides nine en-suite letting rooms and auxiliary facilities including laundry room and office.

Second Floor:
The second floor provides staff accommodation comprising six bedrooms.

Externally:
There is parking to the rear for 7 vehicles.

Tenure
The property is held freehold (Title Number K829839).

Tenancy
Entire property let to Patels Group Limited on a 20 year lease from 30 October 2020 at a current rent of £70,620 per annum which is subject to five yearly open market rent reviews and annual uncapped RPI increases (except in the open market review year). A rent deposit of £18,197 is held by the landlord.

Planning
The property is Grade II Listed and is situated within the Folkestone and Hythe Conservation Area.

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

EPC
C-71

Terms
We are instructed to invite offers in excess of £710,000 (9.44% NIY) assuming the usual purchasers costs.

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.

Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all 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/stonegateportfolio

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.

Commercial Property in 59 High Street

Investment for sale - Swan Hotel, 59 High Street, Hythe, CT21 5AD