2 Bed Pub For Sale

Investment Consideration:

Gross Initial Yield: 7.33%

Rental Income: £22,000 p.a.

VAT is NOT applicable to this property

Comprises public house with restaurant and outdoor seating area

Includes 2-bedroom owner`s accommodation at first floor

The only pub located in this beautiful Devon country village



Property Description:

Comprises public house arranged as a ground floor bar & restaurant with full commercial kitchen, function room and 2-bedroom owner`s accommodation. The property benefits from outdoor seating area and provides the following accommodation and dimensions:

Ground Floor: Open plan bar & restaurant, commercial kitchen, storage, customer wc`s

First Floor: 2-bedroom owner`s accommodation, bathroom

Total GIA: 272 sq m (2,928 sq ft)



Tenancy:

The property is at present let to Nir (24) Ltd with Personal Guarantee for a term of 6 Years 11 Months from 15th May 2024 at a current rent of £22,000* p.a. and the lease contains full repairing and insuring covenants. Rent review on 15.05.27 and 15.05.30 open market upward only. No breaks

*Tenant pays reduced rent of £19,500 p.a. until 14.05.25.

The vendor will top up rent until 14.05.25 so the buyer receives £22,000 p.a. from completion



Location:

Roborough is situated midway between the A386 Okehampton to Bideford Road and the A377 Exeter to Barnstaple road. Barnstaple is around 10 miles to the north; Okehampton around 15 miles to the south and Torrington 5 miles to the west. The New Inn is situated in the heart of this sought after Devon village which in turn sits amidst rich farmland and rolling countryside. The New Inn is the focal point for the village and its surrounding hamlets. Roborough has a population of around 300 people and The New Inn benefits from consistent year-round patronage with the normal seasonal uplifts.