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INVESTMENT FOR SALE - LICENCED PREMISES WITH SELF CONTAINED 1 BED APARTMENT - 5 BERKELEY VALE
£250,000 is sought in respect to a freehold sale, subject to the existing lease |
Currently occupied by the owner of Bobby’s Bar under a 20 year full repairing and insuring lease, commencing 28 August 2001, at a passing rent is £18,000 per annum.
The business, Bobby’s Bar, is not affected.
LOCATION:
Falmouth is one of the County’s leading holiday resorts with an increasingly long season. The town has a resident population of around 28,000 persons which increases considerably during the summer months. The area also has a significant student population with the main hub site for the Combined University of Cornwall located in the neighbouring town of Penryn accommodating 5,000 students.
The town has a good mix of independent and national retailers including Marks and Spencer and niche retailers such as Henri Lloyd and Seasalt.
SITUATION:
The property is located on Berkeley Value which comprises a mix of users including retailers, restaurants and fast food outlets. The property benefits from being in close proximity to The Moor, the town’s piazza which holds a regular local market, which provides access on to the main retailing areas of Market Street and Church Street. Nearby occupiers include Prezzo Restaurant, Dominos Pizza, KFC, Argos, Iceland, the Pheonix Cinema and a number of local retailers. There are good parking facilities with a pay and display car park situated close by, as is the town’s main bus depot.
DESCRIPTION:
The mid terraced property comprises well presented licensed bar accommodation at ground floor level with double window frontage onto Berkeley Vale. Ample seating is provided throughout with the bar situated toward the rear, leading to an outside smoking area. A self contained one bed apartment is located on the first floor, providing a lounge, kitchen, bedroom and shower room with WC. The apartment is accessed off Berkeley Vale, to the left of the main accommodation.
ACCOMMODATION: (All dimensions and areas are approximate)
Ground Floor
Public House 58.93m² (634 ft²)
Rear Yard 19.62m² (211 ft²)
Male, female and disabled toilet facilities
First Floor
Lounge 11.01m² (118 ft²)
Kitchen 4.16m² ( 45 ft²)
Bedroom 11.87m² (128 ft²)
Shower room 4.66m² ( 50 ft²) – with shower, wash hand basin and WC
Cupboard 0.66m² ( 7 ft²)
LEASE DETAILS:
The entire premises are currently occupied by the owner of Bobby’s Bar under a 20 year full repairing and insuring lease, commencing 28 August 2001. The passing rent is £18,000 per annum with rent reviews due on 28 August 2013 and 28 August 2017. The current tenant has been in occupation for approximately 4 years.
SALE PRICE:
£250,000 is sought in respect to a freehold sale, subject to the existing lease on the entire accommodation.
The business, Bobby’s Bar, is not affected.
RATES:
Ground Floor Rateable Value £7,200 (2010 list)
First Floor Council Tax Band A
Enquiries regarding rates payable should be made with Cornwall Council – 0300 1234171.
VAT:
We understand the property is not registered for VAT.
COSTS:
Each party to bear their own respective legal costs incurred in the transaction.
SERVICES:
We have not tested the services connected to the premises and the ingoing tenant should carry out their own inspections.
PLANNING:
Interested parties should satisfy themselves that their proposed use complies with the existing planning consent.
VIEWING:
Viewing arrangements may be made through sole agents Charterwood on (01872) 261216.
Contact Stuart Sly or Helen Fussey.
ENERGY EFFICIENCY RATING:
Ground Floor:
Certificate Reference Number: 0498-9309-4630-3290-9203
Report Reference Number: 9900-9924-0442-9360-3084
First Floor Flat:
Reference Number: 0880-2825-6071-9492-8645
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