KENT - PROFITABLE PUB WITH THREE RESIDENTIAL UNITS

FREEHOLD £675,000 to include fixtures, fittings and goodwill. Stock at valuation in addition. or LEASEHOLD £55,000 to include goodwill and the grant of a new lease as below. Stock at valuation in addition. TERM - For a term of up to seven years. LANDLORD & TENANT ACT 1954 - Inside Part II Landlord & Tenant Act 1954. ASSIGNABILITY - Fully assignable subject to Landlord’s consent. DEPOSIT - A deposit equivalent to 3 months' rent in advance plus personal guarantors if the lease is taken as a Limited Company. RENT - £50,000 per annum, paid monthly in advance. VAT will not be applicable on rental payments. RENT REVIEW - Subject to rent reviews at Market Rent or RPI (capped and collared at 2.5% and 5%), whichever the greater. Frequency to be agreed subject to length of term. REPAIR LIABILITY - Part repairing and insuring lease agreement. This is not a full repairing and insuring lease with the freeholder retaining responsibility for the structure of the building. The lessee will be responsible for internal maintenance, repair and decoration as well as the decorative condition of the exterior of the property. PREMISES LICENCE - To be retained by the Landlord with Tenant noted as DPS. Annual renewal fee to be covered by the Tenant. FIXTURES & FITTINGS - To be retained by the Landlord and included in the rent. The Tenant will be responsible for their repair, maintenance and replacement (when beyond repair). TIE - Free of all trade ties. INSURANCE - The Landlord will insure the building, the cost of which will be charged to the Tenant by way of an Insurance Rent. FREEHOLD PURCHASE - The lease will contain a right of first refusal in favour of the Tenant to purchase the freehold should the Landlord desire to sell. DUE DILLIGENCE - An incoming party will be required to demonstrate sufficient funds to sustain their business model, and will need to demonstrate ingoing capital to cover the premium, rental deposits, stock, working capital and solicitor's fees as a minimum. An incoming party will be required to undertake a credit check. No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.

TRADE AREAS - MAIN BAR: Two tiered trade space presented with carpeted flooring, bar servery with Kardean worktop, juke box, TV and AWP. Seating for 40-60. - DINING/FUNCTION ROOM: Housing TV, projector and screen, and darts board. Capable of providing seating for 25-30 patrons. Potential to reinstate its own bar servery. - GENTLEMEN'S TOILETS. - LADIES' TOILET. - WAITER AREA: With triple drinks fridge, double drinks fridge and ice machine. - STORAGE AREA. - TRADE KITCHEN: With non-slip flooring, extractor, UPVC clad walling, stainless steel sinks, double salamander, electric oven and hob, two commercial microwaves and under counter fridges. - BASEMENT CELLAR: With delivery drop from side of property. OWNERS ACCOMMODATION The Royal Cheriton boasts three residential units above with separate shared entrance from the side of the property, comprising: - MAISONETTE: - HALLWAY - LARGE LOUNGE - LARGE DINING ROOM - MODERN FITTED KITCHEN - WC - FAMILY BATHROOM - 3 x DOUBLE BEDROOMS - MASTER BEDROOM - ROOF TERRACE - FLAT 1: - LOUNGE & KITCHEN - DOUBLE BEDROOM - SHOWER & WC ROOM - BALCONY TERRACE - FLAT 2: - LOUNGE & KITCHEN - DOUBLE BEDROOM - SHOWER & WC ROOM EXTERNAL - TRADE PATIO: Part-covered to provide a smoking solution. Capable of seating 25-30. There is an elevated decking area with room for 25 seated, which will not be included in the sale unless the neighbouring development plot is purchased (please ask for further information, ref: 94364).