The Rio Grande (former Ship Inn)9 Wolborough Street, Newton Abbot, TQ12 1JR

Freehold – Guide £375,000 (plus VAT)

• Open plan ground floor restaurant and bar

• Good trading position within town centre

• 3 bedroom flat with lounge and kitchen

• First floor function room

• Grade II listed

• Parking 3/4 vehicles

DISCLAIMERThe material herein is intended as a guide only, no liability for negligence or otherwise is assumed for the material contained herein by Jones Lang LaSalle, its principal or its servants or its agents. No material contained herein shall form the basis of or be part of any agreement and no warranty is given or implied as to the accuracy of the whole or any part of the material. Prospective purchasers/tenants should not rely on the material but should make their own enquiries and satisfy themselves of all aspects of the material. Any liability by Jones Lang LaSalle, its principal, its servants or its agents in any way connected with the brochure, whether or not such liability results from or involves negligence, will not exceed $1000.00.8o;

Location

Newton Abbot is a market town and civil parish in South Devon. It has alast reported population of 25,556 (2011 census). Its location gives greataccess to Dartmoor National Park, Torbay and Exeter. There are anumber of initiatives to improve the appeal of the town centre, whichincludes an upgrade for the central market walk retail area, with afurther £30M planned for town centre improvements and developmentof the cattle market and nearby Bradley Lane sites. The town centreinitiatives are to support considerable residential development aroundthe town itself with circa 2,000 new homes and associated developmentear marked over the next 3-10 years.

The Rio Grande is located on Wolborough Street which, along with BankStreet, Market Walk and Courtenay Street provide the pedestrianisationof the town centre. The building is opposite the clock tower, a focalpoint of the town centre and serves as a thoroughfare from the towncentre to two main car parks.

Description

The property comprises an original two storey terraced property whichhas been subject to considerable extension to provide for part singleand part triple storey accommodation to the rear. The trade areas are atground and first floor with open plan restaurant and bar on each floor.There is a self contained flat over two levels with lounge, kitchen andthree bedrooms. There is off road parking at the rear for 3/4 vehicles.

Accommodation

Double doors to the front of the property to open plan trade area (16.6mx 8.7m) with a bar to the rear. Part stripped wood and part tiled flooring.Space for circa 72 covers. Rear lobby with ladies and gents WC’s andservice access to back of house. Kitchen (4.7m x 3.2m) with extractionand dumb waiter (not tested) to first floor. Inner lobby with storagespace and leading to wash room (4.2m x 2.3m), beer cellar (4.5m x 2.9m)with side access, rear store and delivery access.

Close to the front entrance is a stairway to the first floor landing withcustomer toilet and access to the private accommodation and functionroom/restaurant (10.1m x 4.5m) with bar at one end and entrance torooftop sitting area and fire escape.

Private Accommodation

Set out over first and second floor level. Inner lobby with access to upperfloor, kitchen (4.4m x 4.2m), Lounge (4.1m x 4.1m plus recess),store/office. Second floor landing with bathroom, bedroom (5m x 3.4mplus recess), bedroom (3.8m x 3.6m) and bedroom (3.7m x 2.4m).

External

The pedestrian area to the front of the site has been used by way of apavement licence. To the rear of the site is a yard and off parking area for3/4 vehicles.

Fixtures and Fittings

The sale does not include any items of furniture; equipment, tradefixtures and fittings. Any that are left post completion are not warrantedfor their suitability, safety or ownership. The asking price is for the landand buildings only.

Trade

The venue has been run as an investment by our clients and as such nohistoric accounts are available. The sale includes the transfer of thepremises licence.

Terms of availability

The property is available freehold with a guide of £375,000 plus VAT.

Offers can be sent by post or email for the attention of Michael Easton. Inorder that we can give detailed consideration to all the offers received,we ask that the following information is included:

• The name and address of the purchaser

• The headline amount offered

• Any conditions

• Proof of funding

• Solicitor details

DISCLAIMERThe material herein is intended as a guide only, no liability for negligence or otherwise isassumed for the material contained herein by Jones Lang LaSalle, its principal or its servants or its agents. No material contained herein shall form the basis of or be part of any agreement and no warranty is given or implied as to the accuracy of the whole or any part of the material. Prospective purchasers/tenants should not rely on the material but should make their own enquiries and satisfy themselves of all aspects of the material. Any liability by Jones Lang LaSalle, its principal, its servants or its agents in any way connected with the brochure, whether or not such liability results from or involves negligence, will not exceed $1000.00.

Planning

The property is grade II listed and within a conservation area. Interested parties should make their own enquiries to the local planning authority. We understand this property lies within the jurisdiction of Teignbridge District Council.

https://www.teignbridge.gov.uk/

EPC: C (67)

Rating Assessment

The rateable value for 1 April 2017 has been set at £31,500. Council tax band B.

Legal costs

Each party to bear its own costs.

Conditions

The sale will be subject to contract.

Tax

VAT will be payable on 90% of the purchase price as per HMRC guidelines. Stamp duty is payable on the gross amount. VAT registered buyers may be able to reclaim VAT and are advised to seek professional advice in this regard.

Viewing & further information

Property inspection and viewing strictly by appointment. No direct approach may be made to the business.

Michael Easton+44 (0) 1392 429381

Michael.Easton@eu.jll.com

Alexandra Deere

+44 (0) 117 930 5711

Alexandra.deere@eu.jll.com

www.property.jll.co.uk