Crosby Hotel, Thornton Le Beans, Northallerton, DL6 3SP

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

Location
Located in the village of Thornton-le-Beans near the town of Northallerton in the county of North Yorkshire, 4.5 miles (7.2 kilometres) south east of Northallerton and 201.3 miles (323.9 kilometres) north of London.

The Crosby Hotel is situated on Thornton Lane in a rural village setting, just a short distance southeast of Northallerton town centre. Nearby operators include The Fox Inn, The Druids’ Head, and a range of restaurants such as Romanbys Bistro and The Great Yorkshire Pantry. The location also benefits from proximity to local attractions including Allerton Castle, the North Yorkshire Moors Railway, and the Yorkshire Dales.

Accommodation
Ground Floor: The ground floor provides a main bar to the front with bar servery to the rear and seating on loose tables, chairs and benches for 36 customers. To the rear is a dining/ function room with seating for 34 customers. Ancillary areas include a trade kitchen, laundry and customer WCs.

First Floor: The first floor comprises a manager's flat with kitchen/ dining room/ office, reception room, two double bedrooms and bathroom.

Externally: There is a beer terrace to the front with seating on picnic benches for 26 customers. To the rear is a large lawned area with five camping/caravan pitches with six electricity points. There is a surfaced unmarked car park to the side and rear with parking for approximately 20 vehicles. There are three sheds and a log store in a detached single storey outbuilding.

Planning
The property is not listed or situated within a conservation area

EPC
E-103

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.

Fixtures & Fittings
The fixtures and fittings are currently owned by the occupational tenant.

Tenure & Tenancy
The property is held freehold (Title Number NYK121936). The entire property is let to a private individual on a 10 year lease from 24 September 2020. The current rent is subject to five yearly upwards and downwards open market rent reviews. In addition the tenant has an obligation to purchase beer, cider and flavoured alcoholic beverages from the landlord.

Release of Tie
The landlord may give notice to release the Tenant from any or all purchasing obligations and may choose to review the rent to the open market rent by serving a review notice.

Total Income
The total income is derived from rent and margin from the sale of beer, cider and flavoured alcoholic beverages.

For further details of the historic income and barrelage please refer to the marketing brochure.

The Tied Income
This lease requires the tenant to purchase beer, cider and flavoured alcoholic beverages from the landlord. The purchaser can set up a supply agreement with a supplier, such as Molson Coors, who will supply to the tenant. This will then provide an income from the sale of the drinks. The potential total income to the purchaser from the sale of the drinks is estimated, but not warranted, to be in the region of £6,000, producing a total potential income of £25,000 per annum. Further details are available to interested parties on request.

Terms
We are instructed to invite offers in excess of £550,000 assuming the usual purchasers costs.

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:

Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.

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.