Lyceum Tavern, 110 Malpas Road, Newport, NP20 5PL

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

Location
Located in the town of Newport in South Wales, 12.0 miles (19.3 kilometres) northeast of Cardiff and 32.4 miles (51.1 kilometres) northwest of Bristol.

The Lyceum Tavern is situated at the intersection between Malpas Road and Jewell Lane in a mixed residential and commercial area. Newport train station is 1.0 mile to the south and Junction 26 of the M4 is located 200m to the north which provides fast travel to Cardiff city centre.

Accommodation
Ground Floor: The ground floor comprises two open plan trading areas with a central bar servery and seating on loose tables, chairs and bench seating for 108 customers. Ancillary areas include customer WC’s located to the rear.

Basement: Cellar and stores.

First Floor: The first floor comprises of a private function room with a separate bar servery as well as managers accommodation with two bedrooms, a bathroom and living room.

Externally: There is an enclosed customer area to the rear of the property with seating on loose tables and chairs for 20 customers.

Tenure
The property is held freehold (Title Number WA661492).

Tenancy
The entire property is let to Jacoler Limited on a 25 year lease from 1 January 2022 at a current rent of £34,000 per annum which is subject to five yearly open market reviews. A rent deposit of £8,534 is held by the landlord.

Planning
The property is not listed nor it is 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-80

Terms
We are instructed to invite offers in excess of £330,000 (9.94% 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.

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.