Pub/bar for sale in Albany Village Centre, Washington NE37

Summary

*For sale via secure sale online bidding: Terms and conditions apply.*

This large detached public house and function venue benefits from; Function room (250) with dance floor, raised stage, changing room, bar servery and first floor seating balcony (currently unused). Lounge bar (65) and public bar (50) with pool table and dart throw. First floor comprises of an extensive ancillary storage areas with ground floor beer cellar.

Location

The property is located in a residential estate just off the junction of the A194(M) and A1(M) motorways. As well as residential property the area has a small retail park, school and pub. Sunderland is 8 miles east and Newcastle upon Tyne 9 miles north.

Accommodation

Function room (250) with dance floor, raised stage, changing room, bar servery and first floor seating balcony (currently unused). Lounge bar (65) and public bar (50 with pool table and dart throw. First floor comprises of extensive ancillary storage areas.

Tenure

The property is held on the residue of an 80 year ground lease from the Washington Development Corporation dated 1st July 1974. The passing rent is 2,800 per annum. Part of the property is sub let as a hairdressers and this yields a rental income of 5,250 per annum.

Rateable Value

The adopted rateable value is 9,200 as of 3rd August 2019.

Sourced from voa.

Fixtures & Fittings

Our client has advised that fixture and fittings will be by way of separate negotiations.

Energy Performance Certificate

EPC Rating C - 59

Additional Information

For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.

Auctioneers Additional Comments

Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.

Auctioneers Additional Comments

Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.