Rose & Crown Fletching St 2 Room Hotel Mayfield TN20 6TE £500,000 (£250,000/Room) 8.12% Net Initial Yield

We are instructed to invite offers in excess of £500,000 (8.12% NIY) assuming the usual purchasers costs.
The property is held freehold (Title Number ESX290454).
Entire property let to Rose And Crown Inns Limited on a 35 year lease from 8 June 2006 at a current stepped rent of £42,500 per annum which is subject to five yearly open market rent reviews. The lease benefits from stepped rental uplifts which will then revert to open market reviews thereafter, as follows:-
2026: £42,500 pa
2027: £43,000 pa
2028: £43,500 pa
2029: £44,000 pa
2030: £45,000 pa
The fixtures and fittings are currently owned by the occupational tenant.
The property comprises the basement, ground, first and second floor floor of a three storey detached building with painted brick and weatherboarded construction beneath a clay tile hipped roof. The property is Grade II Listed, but is not situated in a conservation area. The Rose and Crown is situated fronting Fletching Street in the centre of the village within a predominantly residential and rural area. The property is positioned a short distance from the village High Street where a range of independent retailers, cafés and hospitality venues are located, together with other local amenities including a primary school, church and village services which help support regular local trade.
Located in the village of Mayfield within the district of Wealden in East Sussex, approximately 9 miles (14 km) south of Royal Tunbridge Wells and 15 miles (24 km) north east of Brighton. Mayfield is an attractive and historic village within the High Weald Area of Outstanding Natural Beauty, benefiting from a mix of residential housing, local amenities and a steady level of visitor trade due to its rural setting and proximity to surrounding towns.