Meze Mangal & Adjoining Retail Unit, 77-81 High Road, Bushey Heath, Bushey, WD23 1EL
Offers in Excess of
£880,000
£57.89 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
15,202 sq ft
1,412 sq m
- SECTOR
Commercial property for sale
Key features
- Freehold public house & retail investment
- Pub let to a private individual
- Property arranged over two levels: ground and first floors
- Current rent of £67, 338 per annum (pub £54,338 per annum and retail unit £13,000 per annum)
- The pub rent is subject to five yearly open market reviews and annual uncapped RPI increase (except in the open market review year)
- Retail unit let to two private individuals on a 10 years lease ending November 2033 with a mutual break in November 2025
- We are instructed to invite offers in excess of £880,000 (7.25% NIY)
- Site extending to 0.349 acres
- Pub lease expires March 2043
- Business unaffected by sale
Description
Description
The property comprises the ground and first floor of a two storey semi-detached building with painted rendered elevations beneath a pitched roof.
Location
Located in the town of Bushey in the county of Hertfordshire, 3.7 miles (5.9 kilometres) south east of Watford and 15.9 miles (25.4 kilometres) north west of central London.
The Meze Mangal is situated fronting High Road (A4140) in a mixed residential and commercial area. Nearby occupiers include Esso Petrol Station, Tesco Express, Harvester (Mitchells & Butlers) and a number of independent retailers.
Accommodation
Pub 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 70 customers. Ancillary areas include a trade kitchen, customer WC's and stores to the rear.
Pub First Floor: The first floor comprises the office, kitchen, living room, bathroom and three double bedrooms.
Retail Unit: The ground floor comprises an open plan unit with stores and kitchen to the rear. Additional storage and an office is at first floor.
Pub Externally: There is an enclosed customer area to the rear with seating on loose tables and chairs for 60 customers. There is parking to the rear for 10 vehicles.
Tenure
The property is held freehold (Title Number HD338732).
Tenancy
The entire pub is let to a private individual on a 20 year lease from 2 March 2023 at a current rent of £54,338 per annum which is subject to five yearly open market reviews and annual uncapped RPI increase (except in the open market review year). A rent deposit of £12,969 is held by the landlord.
The entire retail unit is let to two private individuals on a 10 year lease from 1 December 2023 at a current rent of £13,000 per annum which is subject to a rent review in year five. There is a mutual break option on 3 November 2025 upon providing not less than 3 months' notice.
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-70
Terms
We are instructed to invite offers in excess of £880,000 (7.25% 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.
Viewings
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.
Similar Investment Opportunities
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:
The property comprises the ground and first floor of a two storey semi-detached building with painted rendered elevations beneath a pitched roof.
Location
Located in the town of Bushey in the county of Hertfordshire, 3.7 miles (5.9 kilometres) south east of Watford and 15.9 miles (25.4 kilometres) north west of central London.
The Meze Mangal is situated fronting High Road (A4140) in a mixed residential and commercial area. Nearby occupiers include Esso Petrol Station, Tesco Express, Harvester (Mitchells & Butlers) and a number of independent retailers.
Accommodation
Pub 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 70 customers. Ancillary areas include a trade kitchen, customer WC's and stores to the rear.
Pub First Floor: The first floor comprises the office, kitchen, living room, bathroom and three double bedrooms.
Retail Unit: The ground floor comprises an open plan unit with stores and kitchen to the rear. Additional storage and an office is at first floor.
Pub Externally: There is an enclosed customer area to the rear with seating on loose tables and chairs for 60 customers. There is parking to the rear for 10 vehicles.
Tenure
The property is held freehold (Title Number HD338732).
Tenancy
The entire pub is let to a private individual on a 20 year lease from 2 March 2023 at a current rent of £54,338 per annum which is subject to five yearly open market reviews and annual uncapped RPI increase (except in the open market review year). A rent deposit of £12,969 is held by the landlord.
The entire retail unit is let to two private individuals on a 10 year lease from 1 December 2023 at a current rent of £13,000 per annum which is subject to a rent review in year five. There is a mutual break option on 3 November 2025 upon providing not less than 3 months' notice.
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-70
Terms
We are instructed to invite offers in excess of £880,000 (7.25% 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.
Viewings
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.
Similar Investment Opportunities
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:
Energy Performance Certificates
EPCBrochures
Meze Mangal & Adjoining Retail Unit, 77-81 High Road, Bushey Heath, Bushey, WD23 1EL
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Stanmore Station1.9 miles
- Carpenders Park Station2.0 miles
- Hatch End Station2.0 miles
Notes
These notes are private, only you can see them.
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