CT1 Black Griffin, 40 St. Peters Street, Canterbury

Freehold public house investment for sale let until January 2042 at a current rent of £94,167 per annum

The property comprises the ground, basement and two upper floors of a two storey end of terrace building with brick elevations beneath a pitched and hipped roof.

We are instructed to invite offers in excess of £1,275,000 (6.97% NIY)assuming the usual purchasers costs.

Ground Floor: The ground floor provides an open plan trading area with central bar servery and seating on loose tables, chairs and bench seating for 52 customers. Ancillary areas comprises customer WC's and a trade kitchen.

First Floor: The first floor comprises living accommodation with two bedrooms, kitchen, bathroom and separate WC.

Second Floor: The second floor comprises of two bedrooms .Basement: The basement provides a cellar, office and stores.

Externally: There is an enclosed customer area to the rear with seating on loose tables and chairs for 26 customers. Additional seating is provided to the front elevation for a further 18 customers by a way of a pavement licence. There is no car parking.

The property is held freehold (Title Number K825776).

The entire property is let to A.B.V Bars Limited on a 20 year lease from 7 January2022 at a current rent of £94,167 per annum which is subject to five yearly open market reviews and annual RPI increases with a collar of 1% and cap of 4% (except in the open market review year). A rent deposit of £22,500 is held by the landlord.

The property is not listed however it is situated within the Canterbury 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.

D - 87

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

Located in the Cathedral City of Canterbury in the county of Kent, 14.6 miles (23.4 kilometres) north east of Ashford and 48.9 miles (78.2 kilometres) east of Royal Tunbridge Wells.

The Black Griffin is situated fronting St Peters Street, the main road running through the centre of Canterbury. Nearby occupiers include the Cricketers (Shepherd Neame), Lady Luck (Stonegate), Nando's and Five Guys alongside a number of independent retailers.

Freehold public house investment

Entire property let to A.B.V Bars Limited who operate 3 pubs in Canterbury

Property arranged over four levels: basement, ground, first and second floors

Current rent of £94,167 per annum

The rent is subject to five yearly open market reviews and annual RPI increases with a collar of 1% and cap of 4% (except in the open market review year)

We are instructed to invite offers in excess of £1,275,000 (6.97% NIY)

Site extending to 0.044 acres

Lease expires January 2042

Business unaffected by sale