Clacton Road, CO16

Property Details: • Type: 1-10,000 sq ft • Tenure: N/A • Floor Area: N/A

Key Features: • ESSEX - FREE-OF-TIE PUBLIC HOUSE INVESTMENT - 9% NET YIELDLink-detached two-storey public house • Bar, games room and two dining rooms • Two bedroom accommodation, four letting bedrooms and office • Trade garden and large car park • Outbuilding workshop and barn storage • Generating £45,000 per annum rent (Net yield 9%) • ** THE BUSINESS IS UNAFFECTED BY THE SALE**

Location: • Nearest Station: Clacton Station • Distance to Station: 3.3 miles

Agent Information: • Address: Shepherds Meadow, Eaton Bishop, HR2 9UA

Full Description: Located in a central position in the historic Essex village of St. Osyth. The village lies approximately 5 miles west of the seaside resort of Clacton-on-Sea, 12 miles southeast of Colchester. The village acts as a hub to the surrounding villages due to its quaint yet busy high street which houses a range of local and boutique businesses. The village is popular during the summer months for day trippers, especially from London seeking to enjoy the surrounding countryside, St. Osyth beach and attractions at Clacton-on Sea.

St. Osyth's beach contains Essex's largest concentration of caravan parks which boosts the local population in the summer months by an estimated 7,000.

The Red Lion is a prominent link-detached public house of brick construction under a pitched tile roof. The property has been well invested in over recent years and as a result is presented to a high standard throughout. Despite the property's character and appearance, it is not a listed building. GROUND FLOOR - BAR - POOL ROOM - MAIN DINING ROOM - SECOND DINING ROOM - LADIES' TOILETS - GENTLEMAN'S TOILETS - TRADE KITCHEN

BASEMENT - CELLAR: Delivery drop to rear of property.

FIRST FLOOR Owner's accommodation comprising: - LIVING ROOM WITH MODERN FITTED KITCHEN - TWO DOUBLE BEDROOMS with EN-SUITE SHOWERS

Letting accommodation comprising: - DOUBLE BEDROOM with EN-SUITE SHOWER - DOUBLE BEDROOM with EN-SUITE BATHROOM - SINGLE BEDROOM - WC - SHOWER ROOM - LAUNDRY CUPBOARD

SECOND FLOOR - DOUBLE BEDROOM - OFFICE.

EXTERNAL - LARGE CAR PARK: Gated and gravelled. - TRADE GARDEN: With smoking solution. - WORKSHOP - OUTBUILDING STORE - BARN: Divided into three commercial units.

The Red Lion is let to and operated by the Tenants in occupation as a traditional old English village pub with pub fayre food offering.

** THE BUSINESS IS UNAFFECTED BY THE SALE** No trade is sold or warranted. Trade accounts are under the ownership of the Tenant are not available for examination.

FREEHOLD £495,000 (Net yield 9%)

The property is sold subject to a fully repairing and insuring lease agreement for a term of ten years from 5 August 2019. The lease falls within the security provisions of the Landlord & Tenant Act 1954. Rent currently stands at £45,000 per annum paid monthly in advance, subject to three yearly rent reviews in line with RPI. A security deposit equivalent to three months rent is held, with additional security provided by way of a Personal Guarantor. The lease is free-of-tie.

Please note that the trade fixtures and fittings within the premises are under the ownership of the Tenant, and are not included in the sale.

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

Viewing strictly by appointment only.