A freehold public house investment let on a new 7 year lease at a rent of £21,800 per annum

Situated in a densely populated residential area to the south east of the town centre is this freehold public house with a spacious 3 bedroom flat above. Colchester offers an excellent range of shopping, schooling and recreational facilities, main line rail links to London Liverpool Street and is conveniently situated along the A12 corridor. The property extends to over 1900 sq ft with the ground floor entirely dedicated to the bar and WC facilities with a beer garden to the rear. The current tenant has been in situ for over three years and a new 7 year lease at a rent of £21,800 was put in place at the beginning of this year. A rent review is scheduled after 3 years, the freeholder can give 3 months’ notice at any time and a deposit of £4500 is held. Offering close to an 11% yield at the low end of the Guide Price we believe this to be a first class commercial investment.

Tenure

Freehold

Viewing

Open days

Energy Efficiency Rating (EPC)

Current Rating Flat: D Pub: B

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Colchester Borough Council. Tel: 01206 282222

Solicitors

Spire Solicitors LLP, 36-40 Prince of Wales Road, Norwich, Norfolk NR1 1HZ, Ref: Tom Henderson, Tel: 01603 886236

Additional Fees

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1,200 (£1,000+ VAT), payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.