Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
41 miles east of York, 67 miles north-east of Leeds, 67 miles south-east of Middlesbrough
Roads
A165, A614
Rail
Bridlington Railway Station
Air
Leeds Bradford Airport
Situation
Bridlington is a popular tourist destination situated on the northeast coast of Humberside. The property is situated in a prominent corner location on the southern side of the Queen Street and adjacent to Bridlington Harbour in the town centre. Nearby occupiers include Marks & Spencer, Yorkshire Bank and Superdrug.
Tenure
Freehold.
Location
Miles
41 miles east of York, 67 miles north-east of Leeds, 67 miles south-east of Middlesbrough
Roads
A165, A614
Rail
Bridlington Railway Station
Air
Leeds Bradford Airport
Situation
Bridlington is a popular tourist destination situated on the northeast coast of Humberside. The property is situated in a prominent corner location on the southern side of the Queen Street and adjacent to Bridlington Harbour in the town centre. Nearby occupiers include Marks & Spencer, Yorkshire Bank and Superdrug.
Tenure
Freehold.
Description
The property comprises ground and first floor public house accommodation with ancillary and residential accommodation on the second and third floors. The property also benefits from self-contained basement accommodation which was last used as a nightclub.
Six Week Completion
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 not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground and first floor public house accommodation with ancillary and residential accommodation on the second and third floors. The property also benefits from self-contained basement accommodation which was last used as a nightclub.
Six Week Completion
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 not 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
Review/(Reversion)
Basement Ground First Second Third
Ancillary Public House
3 Flats 2 Flats
45.73 sq m 325.34 sq m 289.02 sq m 223.80 sq m 123.35 sq m
30 years from 05/03/1998 until 2028 on a full repairing and insuring lease
£80,000
05/03/2018 and 5 yearly
Part Basement
Former Club (3)
135.76 sq m
(1,461 sq ft)
HARRISON LEISURE LTD (2)
20 years from 2004 until 2024
See Note (2)
5 yearly linked to RPI
Totals
1,143.00 sq m
(12,303 sq ft)
£80,000 (2)
(1) Marston’s Estates Limited are wholly owned by Marston’s plc, a FTSE 250 listed company. Marston’s have been running pubs and brewing beer in one form or another for over 180 years and now have 13,000 people working for them. Marston’s operate around 1,700 pubs and bars nationwide (Source: www.marstons.co.uk). For the year ending 04/10/2014, Marston’s Estates Limited reported a turnover of £10,500,000, a pre-tax profit of negative -£17,200,000 and a total net worth of £310,200,000. (Source: www.experian.co.uk 21/09/2015) (2) Companies House has listed Harrison Leisure Limited (Company Number 02893483) as dissolved as at 27/08/2015. The rent reserved under the terms of the lease is £15,000 p.a.x. (3) The part basement former club floor area stated above has been taken from www.voa.gov.uk.
