North Tawton - Copper Key Inn, Fore Street, Devon EX20 2ED Freehold Public House Investment North Tawton - Copper Key Inn, Fore Street, Devon EX20 2ED Freehold Public House Investment
Investment Consideration:
. Purchase Price: £340,000 . Gross Initial Yield: 7.65% . Rental Income: £26,000 p.a. . VAT is NOT applicable to this property . Substantial character thatched public house . Comprises accommodation over two floors with private and letting accommodation at first floor level and bar, restaurant and pool room/skittle alley at ground floor level. . 20 space car park and beer garden to the rear . The property is located on the edge of the historic town of North Tawton which is located approximately 7 miles east of Okehampton and 11 miles west of Crediton.
Tenancies and Accommodation:
Property Accommodation Lessee & Trade Term Current Rent £ p.a. Notes Copper Key Inn 239.23 sq m (2,575 sq ft) Devon Pubs Ltd 6 years and 11 months from £26,000 Note 1: FRI (Ground & First (with personal 1 October 2019 Note 2: Break clause 01.10.20 Floor) guarantee) Note 3: Rent review every 3rd year Note 4: Deposit held £4,333.33
Total £26,000 North Tawton - Copper Key Inn, Fore Street, Devon EX20 2ED Freehold Public House Investment
Property Description: The property is arranged as a traditional thatched public house with accommodation over two floors with private and letting accommodation at first floor level and bar, restaurant and pool room/skittle alley at ground floor level. There is a garden and small tarmac area to the front of the property with a covered smoking area to the rear.
The property is accessed from the front with a door leading into the main bar area with return bar servery, seating, open fire and access to a games room with pool table. Leading off the main bar can be found the gents WC’s and double door access leading into the restaurant area providing for approximately 24 covers.
There is access to the catering kitchens from the restaurant area with a good range of commercial equipment including six ring gas hob and oven, microwave, stainless steel tabling, upright freezers etc. The skittle Property Description continued: alley/pool room is accessed from the main bar with ladies WC’s. It has a The private accommodation is found at first floor level and has gas fired through bar servery, seating area, skittle alley and darts and pool area. central heating. It comprises four bedrooms and could be split to provide Access to the rear of the property is gained from this area where a for two small flats. It currently comprises internal stairway to lounge covered smoking facility can be found. There is a beer garden leading off leading to master bedroom. Inner hallway to double bedroom, two single from the smoking area with 4/5 tables. bedrooms, two separate bathrooms. Separate external access to side.
The property provides the following accommodation and dimensions: Approx. 239.23 sq m (2,575 sq ft) North Tawton - Copper Key Inn, Fore Street, Devon EX20 2ED Freehold Public House Investment
Tenancy: The public house is at present let to Devon Pubs Ltd (with personal guarantee) t/a Copper Key Inn for a term of 6 years and 11 months from 1st October 2019 at a current rent of £26,000 per annum and the lease contains full repairing and insuring covenants. The lease provides for rent reviews every third year and the tenant has the option to determine on the 1st October 2020. Rent deposit is held of £4,333.33.
Planning: The property currently trades as a public house and restaurant. Interested parties should make their own enquiries of the local planning authority which in this case is the West Devon Borough Council. www.westdevon.gov.uk
Location: The property is located on the edge of the historic town of North Tawton which is located approximately 7 miles east of Okehampton and 11 miles west of Crediton. There is a resident population of approximately 1,600 people and the town has recently been the location of the television series Jam and Jerusalem. The town boasts successful football and rugby teams along with all the usual amenities expected in a town of this size including convenience store, Primary school, doctor’s surgery and bank. North Tawton - Copper Key Inn, Fore Street, Devon EX20 2ED Freehold Public House Investment
Contacts:
To view copies of the leases, information on the title, other information, please contact Joseph Bachman or Prash Jaitley.
Joseph Bachman – COO Prash Jaitley – Managing Partner M: +44(0)77236 19270 M: +44(0)79618 53166 E: [email protected] E: [email protected]
Address:
Blue Alpine Partners Limited Trading Address: 83c Ashley Gardens, Thirleby Road, London, SW1P 1HG Registered Address: Suite 115, Devonshire House, Manor Way, Borehamwood, Hertfordshire, WD6 1QQ
Disclaimer: Blue Alpine Partners prepares sales and letting particulars diligently and all reasonable steps are taken to ensure that they are correct. Neither a seller nor a landlord nor Blue Alpine Partners will, however, be under any liability to any purchaser or tenant or prospective purchaser or tenant in respect of them. If a property is unoccupied, Blue Alpine Partners may not have all the information required by a prospective purchaser or tenant in its possession, may not be able to obtain it and may not be able to verify all the information which it does hold. Prospective purchasers should make their own investigations before finalising any agreement to purchase or lease.