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.

Tenure

Freehold

Viewing

Viewings have been scheduled as follows: Thursday 20th November at 10.00am Friday 28th November at 10.00am BOOKING AN APPOINTMENT IS ESSENTIAL Please call 01473 558888 to confirm your attendance

Energy Efficiency Rating (EPC)

Current Rating C

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Ipswich Borough Council

Solicitors

Thompson Smith and Puxon, Ref: Alexander Butler-Zagni, Tel: 01206 217025

Additional Fees

Buyer's Premium - £1800 inc VAT payable on exchange of contracts.

Administration Charge - £1200 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.