Investment opportunity. A public house with secured tenancy on a Full Repairing and Insuring (FRI) lease until September 2015. The yield is currently 9.48%, however, this will rise after an upward only rent review in October 2013. The stone property was originally constructed in 1674 and the accommodation over three floors briefly comprises: a large bar and lounge area, commercial kitchen, male and female toilets, first floor, two bedrooms, lounge, office, wc and an open second floor. To the outside there is a flagged beer garden to the rear with views over the Rossendale Valley.
Location
If heading from Rawtenstall, turn off St Marys Way onto Newchurch Road and follow the road for approximately one and a half miles where the property can be found on the right hand side. Alternatively, if heading from Waterfoot, proceed onto Burnley Road East and turn left up the hill into Turnpike which becomes Church Street and the property can be found on the left hand side.
Accommodation
Ground Floor
Bar
Store
Female wc's
Male wc's
First Floor
Bedroom One
Bedroom Two
Lounge
Office
wc
Bathroom
Kitchen
Second Floor
Cellar
Beer Cellar
Storage Cellar
Terms
Lease details
Currently a 4 year lease from 4th November 2010 at a rent of £19,000 per annum. A copy of the lease is available on request.
Other Information
The price is subject to VAT.