White Hart, St Ives
Leasehold for Sale
Rent: Passing rent - £33,000 Ex VAT per annum
Price: Offers in Excess of £50,000 Ex VAT
Beautifully presented public house with letting rooms, occupying a prominent location in St Ives town centre.
- 2,835 sq ft Gross External Area - (263 sq m)
- 20-year protected lease commencing on November 1st 2012
- Offers sought for the benefit of the existing lease inclusive of all trade f&f and goodwill
- Well-equipped (5* EHO rating) commercial kitchen
- 4 comfortable letting rooms and a domestic flat
- EPC rating: D (84)
St Ives (population circa 16,500) is a market town on the bank of The River Ouse approximately 5 miles east of Huntingdon and 15 miles north west of Cambridge easily accessed via the A14 and the guided busway. The White Hart is situated on the busy retail thoroughfare at the heart of the town centre, opposite the war memorial.
The White Hart is a double fronted building dating back to the late 1600s and is one of the oldest pubs in St Ives. It is a brick-built property predominantly arranged over two stories, with a single storey extension to the rear.
The internal trade areas are accessed from a central lobby. The lounge bar is catered to by a wooden servery with loose seating permitting c. 35 covers. The snug bar benefits from its own separate servery and is often utilised for dining covers or private functions. It can cater to in the region of 40 covers, subject to layout. It also provides access to the male & female WCs along with the basement cellar. The property also benefits from a well-equipped trade kitchen (5* EHO rating) replete with a walk-in chiller and a good-sized preparatory area.
The first floor accommodation provides 4 letting bedrooms and a spacious domestic flat including an office and large lounge. To the rear of the property is an attractive trade courtyard (c. 25 covers) which is supplemented in the summer months by tables on the market square (as pictured). There are 4 parking spaces within the demise.
The area of the pub site is 0.11 acres (454m²) and the ground floor footprint of the public house (GEA) extends to 263m² (4,887ft²). Measurements are taken from digital mapping and are approximate.
The property is held on a 20-year FRI lease commencing on November 1st 2012. The passing rent is £33,000 per annum (exc VAT) reviewed at the end of each third year from the commencement of the term. The agreement is protected by the Landlord & Tenant Act (1954).
A full copy of the agreement is available from Everard Cole.
The White Hart has consistently generated a net turnover of c. £6,000 per week during our client's ownership. The trade split is 65:35 wet:dry. Further financial information can be provided to genuinely interested parties following a viewing.
Offers are sought in excess of £50,000 for the benefit of the leasehold interest, inclusive of all goodwill and trade fixtures & fittings (save for personal items). Stock at valuation will be payable in addition on completion.
The Assignee will also be required to pay a rental deposit to the Landlord along with rent in advance. Both the Landlord and the Assignor will seek proof of funding.
Rates & Charges
Business Rates£13,080.00 per annum (based on a Rateable Value of £27,250)
Council Tax£1185.14 per annum (Band A)