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Array, 91 Shepherds Hill, Romford, RM3 0NP

Offers in Excess of
£1,555,000

£54.92 per sq ft

Business rates & charges may apply

Savills, Margaret Street - Licensed Leisure
SIZE AVAILABLE

28,314 sq ft

2,630 sq m

SECTOR

Pub for sale

Key features

  • Freehold public house investment
  • Entire property let to Cetgul Limited
  • Property arranged over ground, basement and first floors
  • Current rent of £109,200 per annum
  • We are instructed to invite offers in excess of £1,555,000 (6.6% NIY)
  • Lease expires March 2037
  • The rent is subject to five yearly open market rent reviews and annual uncapped RPI
  • Business unaffected by sale

Description

Description
The property comprises the ground, basement and first floor of a two storey detached building with part rendered and painted brick elevations beneath a pitched tile roof. Large retractable glazed roof extension to the rear.

Location
Located in the town of Romford in the London Borough of Havering, 4.1 miles (6.5 kilometres) west of Brentwood and 14.0 miles (22.5 kilometres) northeast of London city centre which is accessible on the Elizabeth Line via Romford station.

The Array is situated fronting Shepherds Hill in a sub-urban residential area with Harold Wood and the centre of Romford a short distance to the west.

Availability_text
The accommodation comprises the following areas:

Accommodation
Ground Floor: The ground floor provides a bar servery to the right hand elevation and extensive seating in the left hand dining room for approximately 190 customers. Ancillary areas include a trade kitchen and stores to the centre of the property and two sets of customer WCs to the rear and side.

Basement: Cellar and stores.

First Floor: The first floor comprises a former prep room, office and stores as well as private living accommodation providing two bedrooms, bathroom and WC.

Externally: There is a trade patio to the front and enclosed customer area to the rear. Parking to the front and side for 32 vehicles.

Tenure
The property is held freehold (Title Number NGL148611).

Tenancy
The entire property is let to Cetgul Limited on a 20 year lease from 3 March 2017 at a current rent of £109,200 per annum which is subject to five yearly open market reviews and annual uncapped RPI increases (except in the open market review year). A rent deposit of £24,406 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
C-52.

Terms
We are instructed to invite offers in excess of £1,555,000 (6.6% 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.

Brochures

Array, 91 Shepherds Hill, Romford, RM3 0NP

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Harold Wood Station0.5 miles
  • Gidea Park Station1.8 miles
  • Emerson Park Station1.9 miles

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 199825-1. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Savills, Margaret Street - Licensed Leisure. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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