Free of Tie Pub, Newark on Trent Notts, £450pw, Direct from Landlord - Flexible Terms.

Description

Great opportunity to run your very own Freehold pub in the heart of Newark on Trent Nottinhamshire.

Privately owned building, experienced pub landlords willing to offer flexible terms.

Completely free-of-tie lease. We're looking for the right eager tenants to make this pub flourish like it once did!

Includes substantial upstairs owners accommodation 822sqft, several bar areas, 1,388sqft and large function room, 1033sqft with large kitchen 505 sqft and outside space /multiple covers . Uppers can either be private owners’ accommodation or turned into individual letting rooms, a huge opportunity to increase revenues.

This beautiful traditional pub is excellently located short walk from Newark's Royal Market Place and sited in vicinity of established and new residential areas.

The pub is well equipped, with only some cleaning and minor personal touches needed to make it your very own and begin operating. See the included photos. Comes with nicely equipped commercial kitchen.

Large patio area allowing for 40-50 covers.

*We don't charge any premium or legal fees or agent fees to get you in there. We are the freeholder of this property and do everything in-house. We have no ties to any breweries/etc. Can move quickly and efficiently. We can be flexible on lease length, etc.

The Roaring Meg, 117 Barnby Gate Newark NG24 1QZ

Size: ~ c3755 square feet
EPC: C (Valid until 6th July 2031)

Business Rates from 01st April 2023 : £4,500*
*Note: These are not rates payable. Rates should be low enough to qualify for full small business rates relief.

Rent: £450 PER WEEK

Deposit: £5,000 (NO VAT)

An experienced tenant could really get this beautiful pub up and running again in no time.

Available: NOW

We can be flexible on lease length. Typically our tenants want a long lease. We are willing to offer a 6 year 11 month lease (this keeps it under the 7 year threshold where you need to register the lease with the land registry and pay stamp duty). Shorter leases offered.

Leases are within the 1954 Act. This means you have the right (not obligation) to a similar lease upon expiry. Therefore you effectively have the option of twice the term length.

We are happy to offer a tenant only break clause after year 2 or year 3. This means if you decide this property wasn't the right decision or if you decide you no longer want it, you can end the lease early (on the break date, with 3 month's notice). If the business is doing well, you can stay for the full term. We cannot decide to break the lease early.

Leases are fully assignable. This means if you build up the business and wish to sell it on at a premium, this would be allowed (to a suitable tenant).

Leases are fully repairing and insuring (FRI). This means all maintenance and repairs will be the tenant's responsibility for the duration of the lease. We insure the building under our large block policy which gives us favourable rates, and then we recharge the annual premium to you (this can be paid in instalments).

No premiums or agent fees or legal fees charged to you. Total ingoings to us are the initial rent deposit and first month's rent. You will obviously also need enough to stock the pub to get it up and trading. This is wholly your responsibility. We have no say in how you run your business. We are simply landlords of the property.

We do not charge you for any of the fixtures and fittings and equipment. What you see in the photos mostly comes with the property. These will remain landlord's contents, and we will do a photo inventory and schedule of condition prior to your moving in. There is no charges to use them.

Ad ID: 1501343259