Romantica, 287 Lichfield Road, Sutton Coldfield, B74 2XH

Property Details: • Type: N/A • Tenure: N/A • Floor Area: N/A

Key Features: • Freehold public house investment • The entire property is let to Zorbas Restaurant Limited • Current rent of £67,795 per annum • Lease expires July 2039 • We are instructed to invite offers in excess of £850,000 (7.56% NIY) • The rent is subject to five yearly open market reviews and annual uncapped RPI (except in the open market review year) • Property arranged over three levels • Site extending to 0.20 acres • Business unaffected by sale

Location: • Nearest Station: N/A • Distance to Station: N/A

Agent Information: • Address: 33 Margaret Street, London, W1G 0JD

Full Description: DescriptionThe property comprises the ground, basement and first floor of a two storey detached building with painted elevations beneath a pitched roof.LocationLocated in Sutton Coldfield in the metropolitan county of West Midlands, 5.2 miles (8.4 kilometres) north-east of Birmingham and 7.4 miles (11.8 kilometres) east of Walsall.The Romantica is situated fronting Lichfield Road in a residential and commercial road close to Sutton Coldfield town centre where operators such are The Royal Oak, The Fox and Goose, Villa Marco and The Railway Tavern are located, along attractions such as Sutton Park and Sutton Coldfield Golf Club.AccommodationBasement: The basement provides cellar and stores. Ground Floor: The ground floor provides an open plan trading area with central bar servery and seating on loose tables and chairs for 84 customers. Ancillary areas include a trade kitchen, customer WC's and stores to the rear.First Floor: The first floor comprises the managers office, ancillary storage, two staff rooms as well as a kitchen which is not currently used.Second Floor: The second floor provides additional attic storage space. External: There is an enclosed customer area to the rear with seating on loose tables, chairs and bench seating for 52 customers. There is parking to the rear for 9 vehicles.TenureThe property is held freehold (Title Number WM216714).TenancyThe entire property is let to Zorbas Restaurant Limited on a 20 year lease from 31 July 2019 at a current rent of £67,795 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 £52,821 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.EPCD-77TermsWe are instructed to invite offers in excess of £850,000 (7.56% 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.Similar Investment OpportunitiesIf you have an ongoing requirement for similar investment opportunities then please visit the following website for a selection of properties we are currently marketing: ViewingsAll viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff.For further information and all viewing requests please contact the sole selling agents Savills.Energy Performance CertificatesEPC