Red Well Inn, Harmire Road, Barnard Castle, DL12 8QJ

Property Details: • Type: 6,560 sq ft • Tenure: N/A • Floor Area: N/A

Key Features: • Freehold public house investment • Entire property let to Buckley Taverns Limited • Property arranged over three levels extending to 6,329 Sq Ft (588 Sq M) • 8 ensuite letting rooms • Current rent of £49,565 per annum • We are instructed to invite offers in excess of £625,000 (7.55% NIY) • Lease expires March 2042 • The rent is subject to five yearly open market rent reviews and annual uncapped RPI increases (except in the open market review year) • Business unaffected by sale

Location: • Nearest Station: Bishop Auckland Station • Distance to Station: 12.0 miles

Agent Information: • Address: Belvedere, 12 Booth Street, Manchester, M2 4AW

Full Description: DescriptionThe property comprises the ground, first and attic of a two storey semidetached building with stone elevations beneath a pitched roof. There is a single storey bungalow to the rear.LocationLocated in the market town of Barnard Castle, in county Durham, 24.5 miles (39.2 kilometres) south west of Durham and 32.5 miles (52.0 kilometres) west of Middlesbrough.The Red Well Inn is situated fronting the B6278, close to its junction with the A67 in a commercial area. To the rear is Red Well Caravan Park, opposite are the offices of GlaxoSmithKline and nearby is Barnard Castle Golf Course.AccommodationGround Floor: The ground floor provides an open plan trading area with central bar servery and seating on loose tables, chairs and benches for 60 customers. There is an additional trading area to the rear with seating for 45 customers. Ancillary areas include customer WC’s, trade kitchen and cellar.First Floor: The first floor provides eight ensuite letting rooms, comprising of five doubles, two twins and one single. Second Floor: The second floor attic provides storage and a plantroom. Externally: Externally to the rear is a detached barn conversion providing a three bed staff bungalow with lounge, kitchen and bathroom. To the front, side and rear is a beer garden for 75 covers. There is parking to the side for 30 vehicles.Virtual TourPlease see the link below to access the Virtual Tour: TenureThe property is held freehold (Title Number DU230836).TenancyThe entire property is let to Buckley Taverns Limited on a 20 year lease from 4 March 2022 at a current rent of £49,565 per annum which is subject to five yearly open market reviews and annual uncapped RPI increases (except in the open market review year). A rent deposit of £11,861 is held by the landlord.PlanningThe property is not listed or situated within a conservation area.VATIt 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.EPCC - 64TermsWe are instructed to invite offers in excess of £625,000 (7.55% NIY) assuming the usual purchasers costs.Fixtures and FittingsThe fixtures and fittings are currently owned by the occupational tenant.Money LaunderingMoney Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.