Let to J D Wetherspoon plc until 2034 (subject to option)
18 years unexpired term
Prominently located
Affluent North London suburb
5 yearly upwards only rent reviews
Neighbouring occupiers include L A Fitness, Sainsbury's, Ladbrokes and Pizza Hut
Lot 5
Auction 22nd February 2011
Rent £104,932 per Annum Exclusive
Status Sold Prior
Price
Sector Leisure
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
4 miles north of Finchley, 10 miles north of Islington, 12 miles north of City of London
Roads
M1, A1000, M25, A406
Rail
New Barnet Rail, High Barnet Tube (Northern Line), Cockfosters Tube (Piccadilly Line)
Air
City Airport, Heathrow Airport, Luton Airport, Stansted Airport
Situation
The property occupies a highly prominent position on the north side of the busy East Barnet Road opposite the junction with Approach Road. East Barnet Railway Station is directly opposite the property with Junction 24 of the M25 2 miles to the north.New Barnet is a strategically located and well connected leafy and affluent North London suburb. Neighbouring occupiers include L A Fitness, Sainsbury's, Ladbrokes and Pizza Hut.
Tenure
Freehold.
Location
Miles
4 miles north of Finchley, 10 miles north of Islington, 12 miles north of City of London
Roads
M1, A1000, M25, A406
Rail
New Barnet Rail, High Barnet Tube (Northern Line), Cockfosters Tube (Piccadilly Line)
Air
City Airport, Heathrow Airport, Luton Airport, Stansted Airport
Situation
The property occupies a highly prominent position on the north side of the busy East Barnet Road opposite the junction with Approach Road. East Barnet Railway Station is directly opposite the property with Junction 24 of the M25 2 miles to the north.New Barnet is a strategically located and well connected leafy and affluent North London suburb. Neighbouring occupiers include L A Fitness, Sainsbury's, Ladbrokes and Pizza Hut.
Tenure
Freehold.
Description
The property comprises a PUBLIC HOUSE on the ground floor and ANCILLARY ACCOMMODATION on the first floor. Additionally, there is a THREE ROOM MANAGER'S FLAT at first floor level. There is further ANCILLARY ACCOMMODATION in the basement. The property benefits from a conservatory opening onto an attractive terraced area and a car park to the rear.
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 on the ground floor and ANCILLARY ACCOMMODATION on the first floor. Additionally, there is a THREE ROOM MANAGER'S FLAT at first floor level. There is further ANCILLARY ACCOMMODATION in the basement. The property benefits from a conservatory opening onto an attractive terraced area and a car park to the rear.
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 First
Ancillary Public House Ancillary Managers Flat
26.14 sq m 277.98 sq m 18.73 sq m 79.30 sq m
(281 sq ft) (2,992 sq ft) (201 sq ft) (854 sq ft)
J D WETHERSPOON PLC (1)
35 years from 31/03/1999 until 30/03/2034 on a full repairing and insuring lease (2)
£104,932
2014 and 5 yearly (3)
Totals
402.15 sq m
(4,328 sq ft)
£104,932
(1) For the year ending 25th July 2010, J D Wetherspoon plc reported a turnover of £996,327,000. pre-tax profits of £71,015,000 and net assets of £162,141,000. J D Wetherspoon opened 47 pubs in the financial year ending 2010 resulting in a total estate of 775 pubs. (Source: JD Wetherspoon plc Annual Report & Accounts 2010). (2) The lease provides for a tenant’s option to determine the lease on the expiry of the 30th year of the term on giving at least 13 months’ written notice. (3) The lease provides for the rent to be reviewed upwards only to open market rental value.
