Available
Newark-on-Trent – Public House
The Roaring Meg, 117 Barnby Gate, Newark-on-Trent NG24 1QZFreehold Large Public House Investment
Price
£330,000
Rent P.A.
£26,000
Yield
7.88%
Tenure
Freehold
Lease Term
6 Years 11 Months
Years Left on Lease
6y 8m
VAT Applicable
No
Sector
Investment Consideration
- Comprises public house with restaurant and beer garden at ground floor
- Includes function room and 3/4-bedroom residential accommodation at first floor
- situated in a primarily residential area within 10 min walk from Newark Town Centre.
- Occupiers nearby include Co-Op Food, Hairdresser, takeaway and others.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises large public house at ground floor with function room and residential accommodation at first floor, providing the following accommodation and dimensions:
Ground Floor: Bar, dining area, play area, kitchen, beer garden, wc`s
First Floor: Function room with bar, 3/4 bedrooms, bathroom
Total area size: 495 sq m (5,328 sq ft)
Ground Floor: Bar, dining area, play area, kitchen, beer garden, wc`s
First Floor: Function room with bar, 3/4 bedrooms, bathroom
Total area size: 495 sq m (5,328 sq ft)
Tenancy Description
The property is at present let to Hidden One Ltd (with personal guarantee) for a term of 6 Years 11 Months from 20th December 2024 at a current rent of £26,000* per annum and the lease contains full repairing and insuring covenants. Rent review on 20.12.27 and 20.12.30 open market upward only. Tenant option to determine on 20.12.27 with min 3 months notice. Deposit held of £5,000.
* Tenant pays reduced year for the first year of £23,920 p.a. Vendor will top up rent until 20.12.25 so the buyer receives £26,000 p.a. from completion.
* Tenant pays reduced year for the first year of £23,920 p.a. Vendor will top up rent until 20.12.25 so the buyer receives £26,000 p.a. from completion.
Tenancies & Accommodation
Location Description
Newark is a market town located 29 miles east of Nottingham City Centre and 39 miles from to the south-east of Sheffield. The town comprises national and regional retailers and is regarded as an affluent town with several historical building. The property is situated in a primarily residential area within 10 min walk from Newark Town Centre. Occupiers nearby include Co-Op Food, Hairdresser, takeaway and others.
