KENT - FREE-OF-TIE PUB IN RESIDENTIAL MAIDSTONE

Maidstone, Kent

Ref: 50209

Leasehold Nil Premium Leasehold

KENT - FREE-OF-TIE PUB IN RESIDENTIAL MAIDSTONE

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Key Features

Located in residential area of Maidstone

Stone-built end-of-terrace public house

Single bar operation (30-40)

Four bedroom accommodation

Large rear garden and decking (70-80)

Available on a new free-of-tie lease

Location

The Fox is located in Barming, a residential area of Maidstone, the county town of Kent. This large town lies approximately 32 miles south east of London, 9 miles south of Rochester and 12 miles north east of Tonbridge. It is positioned in a suburban situation approximately 1.5 miles west the town centre. Maidstone boasts a population in the region of 110,000 residents and is centred around a bustling town centre which houses three large shopping centres (The Mall, Fremlin Walk, Royal Star Arcade), as well as the River Medway. Barming benefits from being a short distance from Maidstone hospital as well as a number of out-lying retail parks.

Maidstone lies on the M20, providing fast motorway services to the London via the M25 and M26, Ashford and cross-channel services from Folkestone and Dover. Also a short drive to the north of Maidstone is the M2 motorway providing road access to north and east Kent as well as south east London. Mainline railway services are available from three stations within Maidstone and East Farleigh, a short drive to the south of the property, provides services into central London and the wider Kent area in less than one hour. This residential suburb is serviced by a number of local bus routes.

Property

The Fox is an end-of-terrace public house of stone construction under a pitched tiled roof, comprising:

GROUND FLOOR
- BAR: Open plan trade area with carpeted flooring and a central wood built bar servery. Potential to seat 30-40.
- GENTLEMEN'S TOILETS
- LADIES TOILETS
- OFFICE/STORE ROOM
- KITCHEN

BASEMENT
- BOTTLE STORE
- STORE
- BARREL STORE
- CHILLED BARREL ROOM

FIRST FLOOR
- FOUR DOUBLE BEDROOMS
- LIVING ROOM
- SHOWER & WC ROOM

EXTERNAL
- PARKING: For two vehicles.
- REAR DECKING AREA: Part-covered. Shed storage.
- BEER GARDEN: Brick-built BBQ, potential to seat 70-80.
- STORAGE YARD

The Business

The business is currently closed, having previously operated as a wet-only community public house.

No trade is sold or warranted, no historic trading accounts are available. Prospective Tenants will need to make their own assumptions as to potential trade levels giving due regard to the size of the premises, location and local demographics.

Tenure

LEASEHOLD NIL PREMIUM

The Landlord will consider the creation of a new lease agreement on the following terms:
- TERM: For a term of 10 or 15 years.
- LANDLORD & TENANT ACT 1954: Inside Part II Landlord & Tenant Act 1954.
- ASSIGNABILITY: Assignable subject to Landlord's consent.
- BOND: A bond equivalent to 6 months’ rent in advance plus personal guarantors if the lease is taken as a Limited Company.
- RENT: £30,000 per annum exclusive of VAT and insurances, paid quarterly in advance.
- RENT REVIEW: Subject to rent reviews every fifth year of the term and annual RPI adjustments collared at 2.5%, capped at 5%.
- REPAIR LIABILITY: Full repairing and insuring lease.
- 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.
- VAT: VAT will be payable on rental payments.

All negotiation subject to covenant strength. 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 solicitors fees as a minimum.

Application form and business plan available upon request.

No direct approach to be made to the business; please direct all communications through Sidney Phillips. Viewing strictly by appointment only.