A PUB near the Lickey Hills is set to go up for auction next month with an attractive guide price.
The Toby Jug on Newman Way in Rednal will have a guide price of £40,000 in Bond Wolfe’s livestreamed auction on Thursday, July 11. The watering hole will bring in more than £15,000 in rent annually.
Ron Darlington, a consultant director at Bond Wolfe, explained the investment property was on a leasehold until September 29, 2040, at a current ground rent of £540 per annum.
The sale will be subject to the existing tenants who are on a new six year and 11 month lease at £300 per week plus VAT, equivalent to £15,600 per annum plus VAT.
Mr Darlington said: “This a family friendly pub in the heart of Rednal which offers entertainment, space for events, live music, quiz night and much more.
“The property is a detached public house with car parking and an enclosed trade garden which is situated in a prominent position within a mainly residential area close to the popular Lickey Hills.
“There are two separate bar areas and an off-sale shop on the ground floor, with three-bedroomed manager’s accommodation on the first floor.
“The property offers a valuable investment opportunity for the remaining years of its lease and we are expecting some competitive bidding from prospective buyers.”
The auction will start at 8.30am. Visit https://www.bondwolfe.com for more information.
