Milehouse, Liverpool Road, Newcastle Under Lyme, ST5 9HW
Offers in Excess of
£800,000
£22.40 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
35,719 sq ft
3,318 sq m
- SECTOR
Commercial property for sale
Key features
- 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
Description
Description
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.
Location
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.
Accommodation
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.
Tenure
The property is held freehold (Title Number SF357792).
Tenancy
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.
Planning
The property is not listed nor 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
D-84
Terms
We are instructed to invite offers in excess of £800,000 (7.73% NIY) assuming the usual purchasers costs.
Fixtures & 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.
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:
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.
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.
Location
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.
Accommodation
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.
Tenure
The property is held freehold (Title Number SF357792).
Tenancy
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.
Planning
The property is not listed nor 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
D-84
Terms
We are instructed to invite offers in excess of £800,000 (7.73% NIY) assuming the usual purchasers costs.
Fixtures & 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.
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:
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.
Energy Performance Certificates
EPCBrochures
Milehouse, Liverpool Road, Newcastle Under Lyme, ST5 9HW
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Longport Station1.4 miles
- Stoke-on-Trent Station2.5 miles
- Kidsgrove Station4.3 miles
Notes
These notes are private, only you can see them.
Disclaimer - Property reference 327411-1. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Savills, Manchester - Licensed Leisure. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Map data ©OpenStreetMap contributors.