M1 The Rat and Pigeon, 33 Back Piccadilly, Manchester

Freehold public house investment for sale let until July 2043 at a current rent of £66,950 per annum

The property comprises the ground, basement and two upper floors of a three storey corner building with painted brick elevations beneath a pitched roof.

Ground Floor: The ground floor provides an open plan trading area with a central bar servery and seating on loose tables, chairs and bench seating for 50 customers. Ancillary areas include a trade kitchen, customer WCs and stores to the rear.

First Floor: The first floor comprises a venue for 65 customers with a bar servery and small lounge.

Second Floor: The second floor comprises a games room and a further public bar with seating for 40 customers alongside a band room and WC.

Basement: The basement provides a cellar, office and stores.

The property is held freehold (Title Number GM871494).

The entire property is let to M1 1HP Ltd on a 20 year lease from 13 July 2023 at a current rent of £66,950 per annum which is subject to five yearly open market reviews (from the 10th anniversary) and annual RPI increase with a collar of 1% and a cap of 4% (except in the open market review year). A rent deposit of £14,646 is held by the landlord.

The property is not listed however it is situated within Stevenson Square Conservation Area.

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.

In the course of preparation.

We are instructed to invite offers in excess of £885,000 (7.16% NIY) assuming the usual purchasers costs.

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

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

If you have an ongoing requirement for similar investment opportunities then please visit the following website for a selection of properties we are currently marketing: https://sites.savills.com/stonegateportfolio

Located in the city of Manchester in the Northern Quarter district of the city, 35.3 miles (56.5 kilometres) east of Liverpool and 44.4 miles (71.0 kilometres) south west of Leeds.

The Rat & Pigeon is situated at the intersection between Back Piccadilly and Little Lever Street in centre of the Northern Quarter and a short distance from Piccadilly Gardens. Nearby occupiers includes Piccadilly House (JD Wetherspoon), Popeyes, Five Guys and Pret.

Public house investment

Property let to M1 1HP Ltd

Property over four levels

Rental Income £66,950 pa

5 yrly open market reviews

Lease expires July 2043

Site 0.026 acres

Business unaffected by sale