Cleveland Inn, 37 Cleveland Street, Normanby, Middlesbrough, TS6 0LX

Description
The property comprises the ground, basement and first floor of a two storey mid terraced building with partially rendered brick elevations beneath a pitched roof.

Location
Located in the area of Normanby, in the borough of Redcar and Cleveland, 5.4 miles (8.6 kilometres) south of Middlesbrough town centre.
The Cleveland Arms is situated close to the B1380 High Street in the centre of Normanby. The nearby A171 and A1053 provides access to Middlesbrough. The immediate locality is commercial in nature, surrounded by residential, with nearby retailers including Boots Pharmacy and Tesco Express.

ACCOMMODATION
Ground: The ground floor provides an open plan trading area with central bar servery and seating on loose tables, chairs and bench seating for 60 customers. There is a separate champagne bar to the side with bar servery and seating for 20 customers. Ancillary areas include customer WC's and stores.

First Floor: The first floor comprises the managers living accommodation.

Basement: The basement provides cellar and stores.

External: There is an enclosed customer area to the rear.

Tenure
The property is held freehold (Title Number CE119919).

Tenancy
The entire property is let to The Cobblers and Cleveland Inn Ltd on a 20 year lease from 25 May 2018 at a rent of £44,113 per annum with a concession to £22,056 per annum which is subject to five yearly open market reviews and annual uncapped RPI (except in the open market review year). A rent deposit of £5,342 is held by the landlord.

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
D-91

Terms
We are instructed to invite offers in excess of £200,000 (10.9% NIY based upon concession rent) 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 Opportunites
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.