Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
10 miles south of Chelmsford, 42 miles east of Central London
Roads
A12, A127, A130
Rail
South Woodham Ferrers Railway Station
Air
Stansted Airport
Situation
The property is situated on the eastern side of the pedestrianised Chandlers Way, close to its junction with Reeves Way, adjacent to the Asda car park with approximately 320 spaces. Nearby occupiers include Asda, McDonalds, Natwest, Santander and a number of independent retailers.
Tenure
Freehold.
Location
Miles
10 miles south of Chelmsford, 42 miles east of Central London
Roads
A12, A127, A130
Rail
South Woodham Ferrers Railway Station
Air
Stansted Airport
Situation
The property is situated on the eastern side of the pedestrianised Chandlers Way, close to its junction with Reeves Way, adjacent to the Asda car park with approximately 320 spaces. Nearby occupiers include Asda, McDonalds, Natwest, Santander and a number of independent retailers.
Tenure
Freehold.
Description
The property comprises a public house arranged on the ground floor with residential accommodation arranged on the part ground and first floors. The property benefits from a beer garden to the rear.
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 applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a public house arranged on the ground floor with residential accommodation arranged on the part ground and first floors. The property benefits from a beer garden to the rear.
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 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 Part Ground/ First
Public House Residential – Understood to comprise 3 Bedrooms, Lounge, Kitchen, Bathroom and WC
444.09 sq m -
(4,780 sq ft -
SPIRIT PUB COMPANY (MANAGED) LIMITED (1)
Approximately 95 years from 01/07/1982 until 16/10/2077 on a full repairing and insuring lease
£27,000
01/07/2017 and five yearly thereafter (2)
Total Area
444.09 sq m
(4,780 sq ft)
£27,000
(1) Spirit Pub Company were acquired by Greene King Plc in June 2015 for £773 million bringing Greene King’s total estate to over 3,100 pubs – the largest managed pub group in the UK. (www.greeneking.co.uk). The property is sub-let to John Barras Pub Company who run approximately 160 pubs nationwide, having opened their first pub in 1994. (www.johnbarras.com) (2)The lease provides for 5 yearly rent reviews to the higher of rent passing or 27.5% of the open market value.
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