Royal Oak Hotel, The Square, Cartmel, LA11 6QB

Description
The property comprises the ground and first floors or a two storey mid-terrace Grade II Listed building with painted rendered elevations beneath a pitched roof.

Location
Located in the village of Cartmel in the county of Cumbria, 2.0 miles (3.2 kilometres) northwest of Grange-over Sands and 15.0 miles (24.1 kilometres) southwest of Kendal.

The Royal Oak is situated in the village centre upon the Main Square with the River Eea running to the rear. A popular holiday destination, close to the Lake District National Park, with nearby Cartmell racecourse.

Accommodation
Ground Floor: The ground floor provides trading accommodation with a variety of small customer areas over split levels around a central bar servery with seating for 60 customers. Ancillary areas include a trade kitchen, customer WC’s and beer cellar.

First Floor: The first floor comprises four en-suite letting rooms.

Externally: There is a beer patio to the front and large beer garden with patio to the rear.

Royal Oak Cottage: The self-contained cottage currently used as manager’s accommodation comprising three bedrooms, lounge, kitchen and bathroom.

Tenure
The Property is held freehold (Title Number CU168090).

Tenancy
The entire Property is let to The Oak Cartmel Limited on a 10 year lease from 20 August 2021 at a current rent of £80,000 per annum which is subject to five yearly open market reviews. A rent deposit of £25,031 is held by the landlord. The lease has an option to purchase in favour of the tenant at £1,450,000 until 19th August 2026.

Planning
The Property is Grade II Listed and is also situated within Cartmel 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
In the course of preparation.

Terms
We are instructed to invite offers in excess of £1,085,000 (7.0% 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.