Red House, 1 Wolverton Road, Newport Pagnell, MK16 8BG

Description
The property comprises the ground and first floor of a two storey detached building with rendered and painted brick elevations beneath a multi pitched tile roof.

Location
Located in the town of Newport Pagnell in Buckinghamshire, 12.5 miles (20.1 kilometres) south of Northampton and 12.3 miles (19.8 kilometres) west of Bedford.

The Red House is situated fronting Wolverhampton Road in a predominantly residential area which is a short distance west of the centre of Newport Pagnell.

Accommodation
Ground Floor: The ground floor provides four main trading areas with bar servery to the front and seating on loose tables, chairs and bench seating for 121 customers. Ancillary areas include a trade kitchen and stores to the rear and customer WC’s to the front.

First Floor: The first floor provides managers accommodation comprising four bedrooms, kitchen and bathroom.

Externally: There is a lawned area and separate enclosed customer patio to the rear with seating on loose tables and chairs for 200 customers. Additional seating is provided to the front elevation for a further 24 customers. Parking to the side for 19 vehicles.

Tenure
The property is held freehold (Title Number BM194376).

Tenancy
The entire property is let to Home of the Roast Limited on a 25 year lease from 21 October 2020 at a current rent of £75,931 per annum which is subject to five yearly open market reviews and annual RPI increases with a collar of 2% and cap of 4%. A rent deposit of £17,976 is held by the landlord.

Planning
The property is not listed or situated within a conservation area.

VAT
It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT on the basis the purchasing entity is VAT registered.

EPC
B-40.

Terms
We are instructed to invite offers in excess of £915,000 (7.9% NIY) assuming the usual purchasers costs.

Fixtures and Fittings
The fixtures and fittings are currently owned by the occupational tenant.

Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.