Acquired
Audlem – Public House
The Shroppie Fly, Shropshire Street, Audlem, Cheshire CW3 0DXLong Leasehold Public House Investment
VAT Applicable
No
Investment Consideration
- Secured income. Attractive canalside location
- Public house and car park let to Punch Partnership (PTL) Limited until 2074. Rent currently paid by Heineken
- 7 yearly rent reviews on public house. Rent Review 2023 (2016 review outstanding)
- This attractive detached property is arranged on ground and one upper floor to provide a public house/restaurant on the ground floor with ancillary accommodation above.
- Leasehold. Both the pub and car park are held for a term of 125 years from 23rd February 2005 (thus having some 112 years unexpired) at a fixed ground rent of £5 per annum.
VAT
VAT is not applicable.
Property Description
This attractive detached property is arranged on ground and one upper floor to provide a public house/restaurant on the ground floor with ancillary accommodation above.
Tenure:
Leasehold. Both the pub and car park are held for a term of 125 years from 23rd February 2005 (thus having some 112 years unexpired) at a fixed ground rent of £5 per annum.
Tenure:
Leasehold. Both the pub and car park are held for a term of 125 years from 23rd February 2005 (thus having some 112 years unexpired) at a fixed ground rent of £5 per annum.
Tenancy Description
The public house and car park are at present let to Punch Partnership (PTL) Limited for a term of 99 years from 1st January 1974 at a current rent of £8,000 per annum and the lease contains full repairing and insuring covenants. The lease provides for rent review every seventh year on the public house and the next review is in 2023. The 2016 review is outstanding. Rent reviews to 0.91% of the capital value of the freehold with vacant possession.
Tenancies & Accommodation
Location Description
Audlem is a large village approximately 7 miles south of Nantwich. Nantwich is a popular and prosperous small town 20 miles south-east of Chester and 5 miles west of Crewe. The town enjoys excellent communications, being within 9 miles of the M6 Motorway (Junction 16) and having regular rail services both at Nantwich and Crewe Rail Stations. The property is located to the east of the Shropshire Union Canal main line, next to the Audlem Mill Canal Shop and Workshop. The property is close to the local trading area, with occupiers including Co-op Food, Jo’s Couture Cakes and Dressing Rooms, amongst other local traders.
