Pub/bar for sale in Abbots Way Bar And Grill, Southway Drive, Plymouth, Devon PL6

A public house investment for the freehold land and buildings of the property known as Abbots Way Bar and Grill. Remainder 5 year full repair and insure term from November 2021. Rent £40,000 (plus VAT).

Location

The property is situated on the corner of Southway Drive, the main road that divides the Southway estate with Longstone, and Pendeen Crescent. A large residential suburb of Plymouth (city centre c5 miles) with additional industrial and office neighbours. The property is well connected with road
communication to Plymouth via the A38 trunk road which links to the M5 and the national motorway
network to the east and Cornwall to the west. The A386 leads north to Tavistock.

Accommodation

All areas are approximate and measured in accordance with the RICS Property Measurement (2nd Edition) on a net / gross internal basis.

Principle customer entrance via double doors to inner hallway with ladies and gents WCs and internal access to function room and public bar. Public bar (12.6m x 9.5m) open plan with steps up to pool room (6.5m x 3.7m). Space for 80 covers plus raised dance floor. Access to kitchen and beer cellar, stores, office and function room. Function room (9m x 8.2m plus 6.6m x 1.9m) with independent access, bar servery and access to private accommodation. Commercial kitchen (6.8m x 3.8m) with delivery access. Beer cellar (6.3m x 4.7m plus 3.2m x 2m) with independent access to additional store. Inner bottle store (4m x 2.7m). Office (4.4m x 3.6m).

Private accommodation accessed internally and by separate external door. Ground floor with Kitchen (5.2m x 3.4m average), bedroom (5.3m x 3.2m) with en suite. Separate WC. First floor comprises lounge (4.1m x 4m), bedroom (not measured), bedroom (3m x 2.3m) plus recess, bathroom and separate WC.

Plot size (nimbus maps) 0.63 acres with customer parking for c30 vehicles, outside seating for c80 covers. Service yard.

Planning

Sui generis for pub use with self contained flat.

Rent / Price

Asking price £445,000 on a freehold investment disposal basis. Represents niy of 8.61% after purchase costs of 4.44%

Business Rates

From the Valuation Office Agency website () we understand that the current Rateable Value is £8,600. This not the rates payable and may be eligible for small business rates relief. Please check with the local authority. Council tax band A.

Services

We understand that mains electricity, water, gas and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries.

EPC

C(71)

Legal Fees

Each party to be responsible for their own legal fees in relation to this transaction.

VAT

As agents we understand that the property is opted to tax and VAT will apply. It is the intention that the sale be dealt with by way of a transfer of the current (investment) business. Interested parties should seek independent tax advice.