The Bridle Path 101 Front Street Whickham, Nr Newcastle-upon-Tyne Tyne & Wear NE16 4JJ

The Bridle Path
101 Front Street
Whickham, Nr Newcastle-upon-Tyne
Tyne & Wear
NE16 4JJ

Freehold Public House Investment

  • Let to Stonegate Pub Company Limited until 2040 (no breaks)
  • 5 yearly rent reviews linked to the Retail Price Index
  • Popular community pub
  • Approximately 1 mile from the intu Metrocentre
  • Significant investment of c.£110,000 spent by the tenant in 2013
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    35
  • Auction
    21st May 2015
  • Rent
    £140,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,430,000
  • Sector
    Public House
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Public House Investment

  • Let to Stonegate Pub Company Limited until 2040 (no breaks)
  • 5 yearly rent reviews linked to the Retail Price Index
  • Popular community pub
  • Approximately 1 mile from the intu Metrocentre
  • Significant investment of c.£110,000 spent by the tenant in 2013
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 35
  • Auction 21st May 2015
  • Rent
  • Status Sold
  • Price £1,430,000
  • Sector
    Public House
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
5 miles south-west of Newcastle City Centre, 14 miles west of South Shields, 15 miles north-west of Sunderland
Roads
A1, A19
Rail
Newcastle Railway Station
Air
Newcastle International Airport
Situation

The property is prominently situated on the corner of Front Street and School Street in the heart of Whickham town centre. Approximately 1 mile to the north is intu Metrocentre, which is the UK’s second largest shopping centre receiving approximately 20 million annual visitors.

Tenure

Freehold.

Location
Miles
5 miles south-west of Newcastle City Centre, 14 miles west of South Shields, 15 miles north-west of Sunderland
Roads
A1, A19
Rail
Newcastle Railway Station
Air
Newcastle International Airport
Situation

The property is prominently situated on the corner of Front Street and School Street in the heart of Whickham town centre. Approximately 1 mile to the north is intu Metrocentre, which is the UK’s second largest shopping centre receiving approximately 20 million annual visitors.

Tenure

Freehold.

Description

The property comprises a ground floor public house with basement cellar and a three bedroom flat on the first floor. There is a customer car park to the rear. The tenant also occupies the adjoining property (1 Jasmine Villas) which is not included in the sale, and has created internal ground and first floor access between the two properties.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor public house with basement cellar and a three bedroom flat on the first floor. There is a customer car park to the rear. The tenant also occupies the adjoining property (1 Jasmine Villas) which is not included in the sale, and has created internal ground and first floor access between the two properties.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x. Reviews
Basement
Ground
First
Cellar
Public House
Residential – 3 bed flat
88.81 sq m
339.28 sq m
143.26 sq m
(956 sq ft)
(3,652 sq ft)
(1,542 sq ft)
STONEGATE PUB COMPANY
LIMITED (1)
25 years from completion until 2040 on a full repairing and insuring lease (2) £140,000 2020 and five yearly (3)
Totals  
571.35 sq m
(6,150 sq ft)
    £140,000  

(1) For the year ending 28th September 2014, Stonegate Pub Company Limited reported a turnover of £557,699,000 and a net worth of £99,379,000 (Source: Stonegate Pub Company Limited Annual report and financial statements). For the full accounts please refer to the legal pack. Stonegate Pub Company Limited began trading in 2010 following the acquisition of 333 Mitchells & Butlers pubs. In 2011, Stonegate merged with Town & City Pub Company Limited adding a futher 230 UK pubs to its estate, including the Yates’s and Slug & Lettuce brands. The company is the UK’s largest privately held managed pub operator with approximately 620 pubs and bars. Stonegate is owned by investment funds managed by TDR Capital LLP. (Source: www.tdrcapital.com)
(2)The tenant is currently occupying under the terms of an existing lease which will be extended until 2040 by virtue of a reversionary lease upon completion of the sale providing an unbroken unexpired term of 25 years.
(3)The rent reviews are linked to the Retail Price Index subject to uplifts comprising a minimum of 1% and a maximum of 4% per annum compounded.

Property Documents

  • Catalogue Page
    Updated Date
    29.04.15
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    29.04.15
    File Size
    55 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Charles Russell Speechlys LLP 5 Fleet Place
London
EC4M 7RD
Lee Medlock 0207 427 6708lee.medlock@crsblaw.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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