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Woodman Arms, 29 High Street, Normanby, Middlesbrough, TS6 0NH

Offers in Excess of
£495,000

£113.64 per sq. ft.

Business rates & charges may apply

Savills, Manchester - Licensed Leisure
SIZE AVAILABLE

4,356 sq. ft.

(405 sq. m.)

SECTOR

Pub for sale

Key features

  • Freehold Public House Investment
  • Let to Northern Bay Leisure Ltd
  • Current rent £48,000 per annum
  • Let on a lease until 2031
  • Business unaffected by sale
  • Site area of approximately 0.1 acres
  • We are seeking offers in excess of £495,000 (9.3% NIY)

Property description

Tenure: Freehold

Description
The Property comprises a two storey semi detached public house of painted brick elevations beneath a pitched slate covered roof. Single storey extension to the rear. To the rear is an enclosed beer patio with seating for 50 customers.

Viewings
All viewings must be arranged strictly by appointment with the sole selling agents Savills.

Location
The Property is located in the suburb of Normanby, five miles to the south of Middlesbrough town centre.
The Woodman Arms is situated fronting 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, with nearby retailers including Boots Pharmacy and Tesco Express.

Terms
We are instructed to invite offers in excess of £495,000 (9.69% Gross Initial Yield). The business will continue to trade unaffected from the premises during the marketing of the Property and post completion of the sale.

Accomodation
Ground floor traditional trading accommodation providing a wooden floored public bar and a carpeted lounge with an inter-linking bar servery. Customer toilets and former catering kitchen. First floor living accommodation. Beer cellar and stores to the basement.

Tenure
The Property is held freehold.

The entire Property is let on a 20 year lease to Northern Bay Leisure Ltd commencing 7th October 2011. Current rental of £48,000 per annum, subject five yearly rent reviews.

VAT
It is envisaged that the Property will be sold as a TOGC so the transaction should therefore be exempt from VAT.

Planning
Our enquiries of the local authority have revealed that the Property is not listed nor within a Conservation Area.

Rateable Value
The subject Property is listed within the 2017 Rating List with a rateable value of £35,500.

Brochures

Woodman Arms, 29 High Street, Normanby, Middlesbrough, TS6 0NH

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Marton Station1.9 miles
  • Gypsy Lane Station1.9 miles
  • South Bank Station2.0 miles

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 24318-1. 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.

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