Church House Inn Lode Ln 6,146 SF Retail Building Marldon TQ3 1SL $1,312,793 CAD ($213.60 CAD/SF) 9.38% Cap Rate

We are instructed to invite offers in excess of £700,000 (9.38% NIY) assuming the usual purchasers costs.The fixtures and fittings are currently owned by the occupational tenant. The property is held freehold (Title Number DN443959).
Entire property let to two private individuals on a 20 year lease from 17 August 2021 at a current rent of £69,137 per annum which is subject to five yearly open market rent reviews and annual uncapped RPI increases (except in the open market review year). A rent deposit of £14,197 is held by the landlord.
The property comprises the ground and first floor of a two storey detached building with painted elevations beneath a pitched roof.
Ground Floor: The ground floor provides an open plan trading area with a central bar servery and seating on loose tables, chairs and stools for 80 customers with a function room on the upper ground floor for 35 customers. Ancillary areas include a trade kitchen, customer WC's and stores to the rear.
First Floor: The first floor provides an office, bathroom, kitchen and three bedrooms.
Outbuilding: There is an outdoor cellar, stores and disabled WC.
Externally: There is an enclosed customer area to the rear with seating on wooden benches for 40 customers and additional seating adjacent to the car park for 20 customers. There is parking to the rear for 25 vehicles.
Located in the village of Marldon in the county of Devon, 3.2 miles (5.1 kilometres) north west of Paignton and 4.4 miles (7.1 kilometres) west of Torquay.
The Church House Inn is situated fronting Love Lane in a residential area where operators such as Ye Olde Smokey House, Millmans Holiday Cottages and Marldon Maple Leaf Bowling Club are located. The location provides access to the A380 dual carriageway, linking directly to the motorway network via the M5 at Exeter.