Let to Eldridge Pope & Company Ltd (acquired by Marston's plc in 2007) until 2036
Rent paid by Marston's plc
Prominent position in historic market town opposite the open air market and multi-storey car park
Large development potential (subject to consents)
The property is held in an SPV (Stamp Duty Saving) which may be available under separate negotiation
Six week completion available
Lot 38
Auction 9th December 2010
Rent £75,000 per Annum Exclusive
Status Sold Post
Price
Sector Leisure
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
12 miles east of Coventry
23 miles north-west of Northampton
35 miles south-east of Birmingham
Roads
M1, M6
Rail
Rugby Railway Station
Air
Coventry Airport, Birmingham International Airport
Situation
The property is situated in a prominent position in the town centre on the pedestrianised Gas Street fronting Castle Square and opposite the open air market and the town's principal multi-storey public car park. Nearby occupiers include Wetherspoons, The Rugby Irish Association Public House and other local leisure operators while Rugby's primary retail area lies to the west.
Tenure
Freehold.
Location
12 miles east of Coventry
23 miles north-west of Northampton
35 miles south-east of Birmingham
Roads
M1, M6
Rail
Rugby Railway Station
Air
Coventry Airport, Birmingham International Airport
Situation
The property is situated in a prominent position in the town centre on the pedestrianised Gas Street fronting Castle Square and opposite the open air market and the town's principal multi-storey public car park. Nearby occupiers include Wetherspoons, The Rugby Irish Association Public House and other local leisure operators while Rugby's primary retail area lies to the west.
Tenure
Freehold.
Description
The property, an attractive period building, comprises a GROUND AND FIRST FLOOR PUBLIC HOUSE with associated facilities and a YARD to the rear of the property. The property has large development potential subject to consents.
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, an attractive period building, comprises a GROUND AND FIRST FLOOR PUBLIC HOUSE with associated facilities and a YARD to the rear of the property. The property has large development potential subject to consents.
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
Ground First
Public House Public House
373.0 sq m 290.1 sq m
(4,015 sq ft) (3,123 sq ft)
ELDRIDGE POPE & COMPANY LTD (1)(2) (acquired by MARSTON'S PLC)
35 years from 05/10/2001 until 05/10/2036 on a full repairing and insuring lease
£75,000
05/10/2006 and 5 yearly thereafter
Totals
663.1 sq m
(7,138 sq ft)
£75,000
(1) In January 2007, Marston’s plc announced the acquisition of Eldridge Pope for £155.1m. Marston’s plc is the UK’s leading independent brewing and pub retailing business. It operates five breweries and a pub estate totalling 2,153 pubs. (Source: www.marstons.co.uk) Please note that Marston’s plc are payingthe rent. For the year ending 9th November 2010, Marston’s plc reported a turnover of £645,100,000, pre-tax profits of £21,400,000 and a total net worth of £535,100,000. (Source: www.riskdisk.com 09/11/2010)(2) Please note, the tenant has sub-let the property.
