Available
Roborough – Public House
The New Inn, Winkleigh, Roborough, Devon EX19 8SYFreehold Public House Investment
Price
£300,000
Rent P.A.
£22,000
Yield
7.33%
Tenure
Freehold
Lease Term
6 Years 11 Months
Years Left on Lease
6y 1m
Area
2,928 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises public house with restaurant and outdoor seating area
- Includes 2-bedroom owner`s accommodation at first floor
- The only pub located in this beautiful Devon country village
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises public house arranged as a ground floor bar & restaurant with full commercial kitchen, function room and 2-bedroom owner`s accommodation. The property benefits from outdoor seating area and provides the following accommodation and dimensions:
Ground Floor: Open plan bar & restaurant, commercial kitchen, storage, customer wc`s
First Floor: 2-bedroom owner`s accommodation, bathroom
Total GIA: 272 sq m (2,928 sq ft)
Ground Floor: Open plan bar & restaurant, commercial kitchen, storage, customer wc`s
First Floor: 2-bedroom owner`s accommodation, bathroom
Total GIA: 272 sq m (2,928 sq ft)
Tenancy Description
The property is at present let to Nir (24) Ltd with Personal Guarantee for a term of 6 Years 11 Months from 15th May 2024 at a current rent of £22,000* p.a. and the lease contains full repairing and insuring covenants. Rent review on 15.05.27 and 15.05.30 open market upward only. No breaks
*Tenant pays reduced rent of £19,500 p.a. until 14.05.25. The vendor will top up rent until 14.05.25 so the buyer receives £22,000 p.a. from completion
*Tenant pays reduced rent of £19,500 p.a. until 14.05.25. The vendor will top up rent until 14.05.25 so the buyer receives £22,000 p.a. from completion
Tenancies & Accommodation
Location Description
Roborough is situated midway between the A386 Okehampton to Bideford Road and the A377 Exeter to Barnstaple road. Barnstaple is around 10 miles to the north; Okehampton around 15 miles to the south and Torrington 5 miles to the west. The New Inn is situated in the heart of this sought after Devon village which in turn sits amidst rich farmland and rolling countryside. The New Inn is the focal point for the village and its surrounding hamlets. Roborough has a population of around 300 people and The New Inn benefits from consistent year-round patronage with the normal seasonal uplifts.
