ST5 Milehouse, Liverpool Road, Newcastle Under Lyme

Freehold public house for sale let until December 2041 at a rent of £65,229 per annum

The property comprises the ground, basement and first floor of a two storey detached building with brick elevations beneath a pitched and hipped roof. There are a number of single-storey, flat roof extensions to the side and rear of the original building.

Basement: The basement provides stores.

Ground: The ground floor provide an open plan reception and trading area with a central bar servery and seating on loose tables, chairs and benches for 30 customers. The main open plan trading area provides seating for 130 customers with a separate private dining room providing additional seating for 20 customers. Ancillary areas include a trade kitchen, customer WC's, staff changing room, glass wash room, beer cellar, managers office and stores.

First Floor: The first floor provides a staff room and living accommodation which provides a kitchen, two bathrooms, two former shower rooms, four bedrooms and a living room. To the front of the property is a boiler room and stores.

Externally: There is a customer terrace to the front with seating on benches for 50 customers. There is parking to the front, side and rear of the property for 58 vehicles.

The property is held freehold (Title Number SF357792).

The entire property is let to Staffordshire Leisure Group Limited on a 20 year lease from 23 December 2021 at a current rent of £65,229 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 £15,872 is held by the landlord. There is a tenant break option on 23 December 2031.

The property is not listed nor situated within a 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.

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We are instructed to invite offers in excess of £800,000 (7.73% 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

All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff.

For further information and all viewing requests please contact the sole selling agents Savills.

Located in Newcastle-under-Lyme in the county of Staffordshire, 12.2?miles (19.6?kilometres) south-east of Crewe and 16.7?miles (26.8?kilometres) north of Stafford.

The Milehouse is situated fronting Liverpool Road in a mixed commercial and residential area, a short distance from Newcastle-under-Lyme town centre

where operators such as The Red Lion, JD Wetherspoon and Loungers are located along local attractions including Lyme Park.

Freehold public house investment

Entire property let to Staffordshire Leisure Group Limited which forms part of the Grill Pub Co who operate 4 pubs across Staffordshire, Cheshire and Shropshire

Property arranged over three levels

Site extending to 0.82 acres

Current rent of £65,229 per annum

Lease expires December 2041 with a tenant break option in December 2031

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 £800,000 (7.73% NIY)

Business unaffected by sale