FOREST OF DEAN, GLOUCESTERSHIRE - INVESTMENT PROPERTY 8.2% YIELD
Upper Soudley, Cinderford, Gloucestershire
Ref: 43775
£210,000
Freehold
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Key Features
Location
The village of Soudley is a pleasant much sought after residential location and thriving village in the Royal Forest of Dean, Gloucestershire. The village is positioned on the eastern side of the forest approximately 2 miles from Cinderford and close to the towns of Newnham, Blakeney and Lydney, which all reside on the Severn Estuary along the A48 between Gloucester and Chepstow. The area is popular with tourists, especially that of the outdoor enthusiasts with its many walking, bridleway and bike trails. The village has several attractions the main being the Dean Heritage Centre, Soudley Ponds and the Blaze Bailey View Point, all of which prove popular.
The White Horse Inn occupies a prominent location on a junction at the centre of the village within walking distance of the aforementioned attractions and is a character cottage style property that appears to be constructed in the main of brick with part render and colourwashed elevations under a pitched slate roof to the main and enjoys a large linear site that provides trade garden and extensive car park.
The White Horse Inn occupies a prominent location on a junction at the centre of the village within walking distance of the aforementioned attractions and is a character cottage style property that appears to be constructed in the main of brick with part render and colourwashed elevations under a pitched slate roof to the main and enjoys a large linear site that provides trade garden and extensive car park.
Property
GROUND FLOOR
The PUBLIC BAR is a room of much character with part carpeted floor, feature stone open fireplace and part timber backed fixed wall bench seating with dark wooden stained traditional chairs and tables for 20 customers. Counter from CENTRAL BAR SERVERY with panelled frontage. LOUNGE BAR, an attractive room with carpeted floor, feature stone fireplace, fixed and loose traditional seating for 20 or so customers. Curved stone fronted bar counter to CENTRAL SERVERY. Bi-fold door access through to the SKITTLE ALLEY, which can be left open to combine the two trading areas, if required. The skittle alley has carpeted seated area and wood sprung main alley having feature vaulted beamed ceiling and assorted seating for 40 customers.
Separate POOL ROOM, which has in the past been utilised as a dining area, it currently has carpeted floor, stucco style plastered walls and houses a pool table.
CATERING KITCHEN having tiled floor, part tiled walls, full selection of commercial and domestic catering effects and equipment. LADIES AND GENTLEMENS TOILETS. Door access from behind the servery to ON LEVEL BEER CELLAR with access to the side of the property.
FIRST FLOOR
PRIVATE ACCOMMODATION comprising LOUNGE, BATHRROM, separate WC, UTILITY ROOM AND THREE DOUBLE BEDROOMS.
EXTERNAL
To the rear of the property is a large GARAGE of corrugated steel construction offering storage and contains freezers which have convenient access to the trade kitchen. There is a hardstanding CAR PARKING with space for approximately 30 vehicles.
The PUBLIC BAR is a room of much character with part carpeted floor, feature stone open fireplace and part timber backed fixed wall bench seating with dark wooden stained traditional chairs and tables for 20 customers. Counter from CENTRAL BAR SERVERY with panelled frontage. LOUNGE BAR, an attractive room with carpeted floor, feature stone fireplace, fixed and loose traditional seating for 20 or so customers. Curved stone fronted bar counter to CENTRAL SERVERY. Bi-fold door access through to the SKITTLE ALLEY, which can be left open to combine the two trading areas, if required. The skittle alley has carpeted seated area and wood sprung main alley having feature vaulted beamed ceiling and assorted seating for 40 customers.
Separate POOL ROOM, which has in the past been utilised as a dining area, it currently has carpeted floor, stucco style plastered walls and houses a pool table.
CATERING KITCHEN having tiled floor, part tiled walls, full selection of commercial and domestic catering effects and equipment. LADIES AND GENTLEMENS TOILETS. Door access from behind the servery to ON LEVEL BEER CELLAR with access to the side of the property.
FIRST FLOOR
PRIVATE ACCOMMODATION comprising LOUNGE, BATHRROM, separate WC, UTILITY ROOM AND THREE DOUBLE BEDROOMS.
EXTERNAL
To the rear of the property is a large GARAGE of corrugated steel construction offering storage and contains freezers which have convenient access to the trade kitchen. There is a hardstanding CAR PARKING with space for approximately 30 vehicles.
Tenure
LEASE AGREEMENT
This is an investment sale. The property is being sold without vacant possession subject to the existing tenant’s agreement. The terms of the current letting are as follows:-
Term - Ten years which commenced in May 2014.
Repairs & Insurance - The property is held on a full repairing and insuring lease. The landlords to insure the building and recover the premium from the tenant on a reimbursed basis only.
The tenant to insure against public liability and contents lost.
Landlord & Lessee - The agreement is protected by Part II of the 1954 Landlord & Tenant Act
Fixtures & Fittings - The trade Inventory of furniture, fittings and effects are owned by the current Lessee.
Tie - The agreement is free of any trading tie.
Security Deposit - The Tenant has not paid a security deposit to the freeholder, nor are the Lessees required to do so under the terms of the lease.
Rent - £17,165 per annum.
Rent Reviews- The rent to be reviews every third year of the term. Next rent review due May 2020.
It should be noted that the existing Lessees, who have been there since the start of the agreement, are extremely happy and intend to apply for a renewal of their agreement under the terms of the Act. when it comes to an end in five years time.
TENURE & PRICE
£210,000 FOR THE FREEHOLD PREMISES. This property is being sold without vacant possession, subject to the tenancy agreement, detailed on the previous page. The current tenants own the fixtures and fittings which are excluded from this sale.
No direct approach to be made to the business, with all communications directed through Sidney Phillips.
Viewing strictly by appointment only.
This is an investment sale. The property is being sold without vacant possession subject to the existing tenant’s agreement. The terms of the current letting are as follows:-
Term - Ten years which commenced in May 2014.
Repairs & Insurance - The property is held on a full repairing and insuring lease. The landlords to insure the building and recover the premium from the tenant on a reimbursed basis only.
The tenant to insure against public liability and contents lost.
Landlord & Lessee - The agreement is protected by Part II of the 1954 Landlord & Tenant Act
Fixtures & Fittings - The trade Inventory of furniture, fittings and effects are owned by the current Lessee.
Tie - The agreement is free of any trading tie.
Security Deposit - The Tenant has not paid a security deposit to the freeholder, nor are the Lessees required to do so under the terms of the lease.
Rent - £17,165 per annum.
Rent Reviews- The rent to be reviews every third year of the term. Next rent review due May 2020.
It should be noted that the existing Lessees, who have been there since the start of the agreement, are extremely happy and intend to apply for a renewal of their agreement under the terms of the Act. when it comes to an end in five years time.
TENURE & PRICE
£210,000 FOR THE FREEHOLD PREMISES. This property is being sold without vacant possession, subject to the tenancy agreement, detailed on the previous page. The current tenants own the fixtures and fittings which are excluded from this sale.
No direct approach to be made to the business, with all communications directed through Sidney Phillips.
Viewing strictly by appointment only.
Licence
Under the terms of the Premises Licence the business is permitted to retail alcohol between the hours of 08.00 am and midnight, Sunday to Thursday and between the hours of 08.00 am and 12.30 am on Friday and Saturday.
Services
Mains water, electricity and drainage are connected. The property has the benefit of oil fired central heating.
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Robin Mence
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