2 / 10 Hill Road
Sutton
Greater London
SM1 1DZ

Town Centre Bar/Public House Investment

  • Let to Mitchells & Butlers Retail (No.2) Limited t/a All Bar One
  • Recently renewed 25 year lease from March 2017 (subject to option)
  • Rent reviewed annually to CPI and compounded five yearly (capped at 3% and collared at 1%)
  • Passing rent equates to circa £18 psf
  • Located opposite JD Wetherspoon and a short walk to Sutton Station in the heart of Sutton town centre
  • Lot
    16
  • Auction
    14/Feb/2018
  • Rent
    £85,000 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    Leisure
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 2 / 10 Hill Road<br>Sutton<br>Greater London<br>SM1 1DZ
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Property Information

Location
Miles
5 miles south of Wimbledon, 7 miles west of Croydon, 12 miles south of Central London
Roads
A217, A232, M23, M25
Rail
Sutton Railway Station
Air
Gatwick Airport
Situation

Sutton is the principal town of the London Borough of Sutton in South West London, located 5 miles south of Wimbledon and 7 miles west of Croydon. The property is situated on the northern side of Hill Road, at the edge of the town's pedestrianised High Street thoroughfare. The property is situated amongst a number of leisure operators, including JD Wetherspoon which is directly opposite. Other nearby occupiers include Boots the Chemist, WHSmith, Peacocks and Wilko. Times Square Shopping Centre, which is also nearby, has undergone recent redevelopment with occupiers now including TK Maxx, Poundworld and Pure Gym. Zizzi, Nando’s, O'Neill’s, Slug & Lettuce and Pizza Express are a short walk away, as are Sutton Station and Sutton Library.

Tenure

Virtual Freehold. 999 years from completion with an option to purchase the freehold for £1 within five years of completion of the sale.

Description

The property comprises a ground floor bar/public house with basement ancillary accommodation, forming part of a larger building. The property has extensive frontage onto Hill Road, benefiting from outside customer seating to the front and a communal goods yard to the rear.

VAT

VAT is applicable to this lot.

Tenancy & Accomodation

FloorUseGross Internal Floor Areas (Approx)TenantTermRent p.a.xReviews
Ground

Basement
Public House/
Ancillary
Ancillary
427.21 sq m

-
(4,599 sq ft)

(-)
MITCHELLS &
BUTLERS RETAIL
(NO.2) LIMITED (1)
t/a All Bar One
25 years from
21/03/2017 until
20/03/2042 (2) on a full
repairing and insuring
lease
£85,00021/03/2022
and five
yearly
thereafter
(3)
Total
427.21 sq m
(4,599 sq ft)
  £85,000 

(1) Mitchells & Butlers Retail (No.2) Limited are a part of Mitchells & Butlers Plc, who for the year ending 24th September 2016 reported a turnover of £2,086,000,000, pre-tax profits of £94,000,000 and a total net worth of £1,399,000,000. For the year ending 24th September 2016, Mitchells & Butlers Retail (No.2) Limited reported a turnover of £257,721,000, pre-tax profits of £-9,633,000 and a total net worth of £120,447,000 (D & B 5A1 rating). All Bar One now trade from about 50 bars across the UK, with other brands owned by Mitchells & Butlers including O'Neill's, Harvester, Toby Carvery, Sizzling Pubs and Browns Steak House (Sources: Experian Group and www.mbplc.com 12/01/2018).
(2) The lease is subject to a tenant option to determine on 21st March 2032.
(3) The rent is reviewed to CPI capped and collared at 1% and 3% per annum and compounded five yearly.

Property Documents

  • Site Plan
    Updated Date
    23.01.18
    File Size
    4 MB
    View PDF
  • Catalogue Page
    Updated Date
    23.01.18
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George WatkinsGeorge Watkins +44 (0)20 7034 4861george.watkins@acuitus.co.uk
Associate Auctioneers
Tydus Real Estate 50 Weymouth Mews
London
W1G 7EH
Will Elphinstone 020 3904 3573willelphinstone@tydusre.com
Seller's Solicitors
Fieldfisher Level 5, 37 Peter Street
Manchester
M2 5GB
Michelle Howell 0161 835 8021michelle.howell@fieldfisher.com

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