Mixed use for sale

SOLD AT AUCTION - £255,000

A freehold tenanted pub and four letting room HMO

The County of Suffolk is a landmark public house on the eastern fringe of the town centre and offers a tremendous investment opportunity.

The well proportioned pub on the ground floor and cellar includes a comprehensively equipped commercial kitchen and has been run by the same landlady for the past 5 years, a new 10 year lease with an initial rent of £13,000 plus VAT per annum with 3 yearly reviews has now been put in place.

The two floors above provide the public house WCs, a kitchen, 2 bathrooms, an office and 4 letting rooms 2 of which have long term tenants on ASTs currently paying £520 per calendar month.

The current rental return is £25,480 per annum but with 2 further rooms to fill, potential for extending the upper parts to a licensed 5 letting room HMO (STPP) along with rent increases, this could be enhanced to over £40,000 representing a 16% yield based on the Guide Price and is an opportunity not to be missed.

NOTE - Subject to the qualifying criteria, the sale could be treated as a Transfer of a Going Concern (TOGC), otherwise, VAT is payable on 55% of the purchase price.

Viewing Viewings have been scheduled as follows:

Thursday 20th November at 10.00am
Friday 28th November at 10.00am

BOOKING AN APPOINTMENT IS ESSENTIAL

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Tenure: Freehold

EPC Rating: C

Administration Fee: £1200 inc VAT payable on exchange of contracts.

Buyer's Premium Fee: £1800 inc 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.