Elm Tree, 1 Elm Tree Centre, Stockton-on-Tees, TS19 0UW

Description
The property comprises the ground and first floor of a two storey detached building with brick elevations beneath a pitched and hipped roof.

Location
Located in Stockton-on-Tees, a market town in County Durham, which forms part of Teeside on the River Tees, 6.1 miles (9.8 kilometres) west of Middlesbrough and 22.0 miles (35.2 kilometres) south of Durham.

The Elm Tree is situated in the residential area of Elm Tree Farm, two miles west of the town centre. The property forms part of a small district centre with a Morrisons Daily and local retailers.

Accommodation
Ground: The ground floor provides an open plan trading area with central bar servery and seating on loose tables and chairs for 80 customers. There is additional seating in the conservatory for 20 customers. Ancillary areas include a kitchen, customer WC's and cellar.

First Floor: The first floor comprises an office and staff room alongside a three bedroom living accommodation with lounge, kitchen and bathroom.

External: There is a beer garden to the front and side elevation with seating for 48 customers. There is park to the rear for 30 vehicles.

Tenure
The property is held freehold (Title Number CE73693).

Tenancy
The entire property is let to Indigo Rebel Limited on a 20 year lease from 1 September 2017 at a current rent of £87,040 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 £19,581 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
B-43

Terms
We are instructed to invite offers in excess of £760,000 (10.9% 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.

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