Pub near Lickey Hills up for auction with £40,000 price tag
A pub close to the popular Lickey Hills and bringing in more than £15,000 rent a year is up for sale in Bond Wolfe’s next online auction.
The Toby Jug on Newman Way, Rednal will have a guide price of more than £40,000 in the livestreamed sale on Thursday, July 11.
Ron Darlington, a consultant director at Bond Wolfe, explained that the investment property was on a leasehold until September 29, 2040.
The sale will be subject to the existing tenants who are on a new six years and 11 months 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.
