KENT - PUBLIC HOUSE WITH 11 LETTING ROOMS FOR SALE OR TO LET - PRICED FOR QUICK SALE

The New Stag is situated in the Kent village of Monkton, in the Thanet district. The village is located at the south-west edge of the Isle of Thanet and is situated mainly along the B2047, a stone's throw from the A253 road between Canterbury and Ramsgate. Monkton is an affluent village, predominantly formed from large residential dwellings, however it does benefit from a large four-star luxury holiday park located adjacent to The New Stag.

The premises is located a short drive from a number of attractions that north-east Kent has to offer including Reculver Towers, the Wildwood Trust, Pegwell Bay Country Park, Broadstairs beach, the historic city of Canterbury and numerous championship level golf courses.

The premises is a sizeable two-storey public house, of brick construction under a pitched slate roof, which has been heavily modernised to a high standard throughout. The property comprises:

TRADE AREA
- BAR: With bar servery, laminate flooring and LED lighting. Sofa seating for 4 plus space for space for 6 sat at the bar and room for more standing. The bar servery is equipped with a range of double drinks fridges.
- SEATING/DINING AREA: With potential to seat 40-45. Presented in an in-keeping manner with the bar.
- GENTLEMEN'S TOILETS: Fully refurbished.
- LADIES' TOILETS: Fully refurbished.
- TRADE KITCHEN: With six-burner range cooker, double deep fat fryer and extractor.
- WASH-UP AREA.
- FRIDGE AND FREEZER STORE.

LETTING ACCOMMODATION:
Accessed via a separate entrance, and located across the ground floor and first floor, comprising:
- 11 DOUBLE BEDROOMS WITH EN SUITE SHOWERS.

EXTERNAL
- FRONT TRADE PATIO: With potential to seat 25-35.
- REAR CAR PARK.

The business is currently closed. No trade is sold or warranted. No historic trade accounts are available. Prospective tenants will need to make their own assumption as to potential trade levels giving due regard to the size of the premises, location and local demographics.

The 11 letting bedrooms are currently occupied on short term agreements, generating a healthy rental income. These rooms can be provided with vacant possession if desired.

FREEHOLD £895,000.

or alternatively,

LEASEHOLD £20,000

A new lease will be granted on the following terms:
TERM: 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 three month’s rent, plus personal guarantors if the lease is taken as a Limited Company.
RENT: £65,000 per annum. Rent to be paid monthly in advance.
RENT REVIEW: Subject to rent reviews at a frequency to be agreed depending on length of lease, at Open Market Rent or RPI, whichever the greater.
REPAIR LIABILITY: Part repairing and insuring lease. This is not a full repairing and insuring lease with the Landlord retaining responsibility for the structure of the building. The Tenant will be responsible for internal maintenance, repair and decoration as well as the decorative condition of the exterior of the property.
TIE: Free-of-tie.
FIXTURES & FITTINGS: The Landlord owns the trade inventory, the use of which will be included in the letting. The Tenant is responsible for its repair, maintenance replacement (when necessary).
INSURANCE: The Landlord insures the building, the cost of which will be charged to the Tenant by way of an Insurance Rent.
VAT: VAT is not payable on rental payments.

No direct approach to be made to the business; please direct all communications through Sidney Phillips.

Viewing strictly by appointment only.

A Premises Licence is held.

All mains services are connected.

Local Authority: Thanet District Council

Rateable value: £12,750