Available
Cullompton – Public House with Letting Accommodation
The White Hart, 19 Fore Street, Cullompton, Devon EX15 1JSFreehold Public House with Letting Accommodation Investment
Price
£380,000
Rent P.A.
£28,800
Yield
7.58%
Tenure
Freehold
Lease Term
6 Years 11 Months
Years Left on Lease
6y 5m
Area
4,930 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises public house with large function room, 3 letting rooms, studio flat and 2-bedroom managers flat
- Located in the town centre with occupiers nearby including Cullompton Library, Nisa Local, Premier and more
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises mid-terrace public house with full commercial kitchen, bar, dining and play area, 3 en-suite letting rooms and 3-bed owner`s accommodation.
Ground Floor: Large dining area, open bar, commercial kitchen and WC’s
First Floor: Large function room, staff room 3 en-suite letting rooms and separate WCs.
Second Floor: 1-bedroom flat with living room, shower, WC and 2-bedroom flat with residential kitchen, shared bathroom and WC
Total area size of 458 sq m (4,930 sq ft)
Ground Floor: Large dining area, open bar, commercial kitchen and WC’s
First Floor: Large function room, staff room 3 en-suite letting rooms and separate WCs.
Second Floor: 1-bedroom flat with living room, shower, WC and 2-bedroom flat with residential kitchen, shared bathroom and WC
Total area size of 458 sq m (4,930 sq ft)
Tenancy Description
The property is at present let to an Individual for a term of 6 Years 11 Months from 7th October 2024 at a current rent of £28,800* p.a. and the lease contains full repairing and insuring covenants. Rent review every 3rd year open market upward only. No breaks. Deposit held of £5,000.
*Tenant pays reduced rent of £25,740 p.a. for first year. The vendor will top-up rent until 6th October 2025, so the buyer receives the equivalent of £28,000 p.a. from completion.
*Tenant pays reduced rent of £25,740 p.a. for first year. The vendor will top-up rent until 6th October 2025, so the buyer receives the equivalent of £28,000 p.a. from completion.
Tenancies & Accommodation
Location Description
Cullompton is a town and civil parish in the district of Mid Devon and the county of Devon, England. It is 13 miles north-east of Exeter and lies on the River Culm. Located in the town centre with occupiers nearby including Cullompton Library, Nisa Local, Premier and more.
