RPI linked Rent Review in 2021 & 5 yearly thereafter
Comprises restaurant with two terraces and a garden
Lot 39
Auction 14th February 2019
Rent £51,580 per Annum Exclusive
Status Sold
Price £750,000
Sector Leisure
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
11 miles south-east of Bristol, 35 miles south-west of Swindon, 45 miles south of Cheltenham, 110 miles west of London
Roads
M4, A36, A46
Rail
Bath Spa Railway Station
Air
Bristol & Southampton Airports
Situation
The affluent and popular tourist cathedral city of Bath is located 11 miles south-east of Bristol, 35 miles south-west of Swindon and 45 miles south of Cheltenham. The city benefits from good communications, with the M4 motorway 9 miles to the north providing direct links to London and Wales. Bath Spa railway station provides services to London Paddington (journey time 87 minutes) and Bristol Temple Meads (journey time 13 minutes). Bristol Airport is 25 miles to the west. The property is located in the city centre on the east side of The Paragon at its junction with Lansdown Road, George Street and Broad Street. It is 100 metres from Milsom Street, one of the main retailing thoroughfares in the city, and 600 metres north of Bath rugby ground. The Bartlett Street Quarter, with a number of specialist retailers, is close by, together with Wagamama, Loch Fyne, Slug & Lettuce, Revolution, Pig & Fiddle and Saracens Head public houses, Hilton Hotel and Waitrose.
Tenure
Freehold.
Location
Miles
11 miles south-east of Bristol, 35 miles south-west of Swindon, 45 miles south of Cheltenham, 110 miles west of London
Roads
M4, A36, A46
Rail
Bath Spa Railway Station
Air
Bristol & Southampton Airports
Situation
The affluent and popular tourist cathedral city of Bath is located 11 miles south-east of Bristol, 35 miles south-west of Swindon and 45 miles south of Cheltenham. The city benefits from good communications, with the M4 motorway 9 miles to the north providing direct links to London and Wales. Bath Spa railway station provides services to London Paddington (journey time 87 minutes) and Bristol Temple Meads (journey time 13 minutes). Bristol Airport is 25 miles to the west. The property is located in the city centre on the east side of The Paragon at its junction with Lansdown Road, George Street and Broad Street. It is 100 metres from Milsom Street, one of the main retailing thoroughfares in the city, and 600 metres north of Bath rugby ground. The Bartlett Street Quarter, with a number of specialist retailers, is close by, together with Wagamama, Loch Fyne, Slug & Lettuce, Revolution, Pig & Fiddle and Saracens Head public houses, Hilton Hotel and Waitrose.
Tenure
Freehold.
Description
The property comprises a ground and lower ground floor restaurant for 90 covers. The ground floor comprises bar, restaurant and terrace with the lower ground floor comprising open plan kitchen, customer WCs, restaurant, storage and terrace. The terraced areas (internal and external) benefit from views of the city towards Henrietta Park. The property has an entrance on Walcot Street, but this is not currently used. The upper floors will be let on a long lease from completion.
VAT
VAT is applicable to this lot.
EPC
Band B. Please see legal pack at acuitus.co.uk.
Description
The property comprises a ground and lower ground floor restaurant for 90 covers. The ground floor comprises bar, restaurant and terrace with the lower ground floor comprising open plan kitchen, customer WCs, restaurant, storage and terrace. The terraced areas (internal and external) benefit from views of the city towards Henrietta Park. The property has an entrance on Walcot Street, but this is not currently used. The upper floors will be let on a long lease from completion.
VAT
VAT is applicable to this lot.
EPC
Band B. Please see legal pack at acuitus.co.uk.
Tenancy & Accommodation
Floor (3)
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground Lower Ground
Lower Ground Vaults
Restaurant Kitchen/ Restaurant Storage
90 sq m 145 sq m
35 sq m
(969 sq ft (1,561 sq ft)
(376 sq ft)
SWAMI MANTRA LIMITED with personal guarantees t/a Mantra (1)
20 years from 11/10/2016 until 10/10/2036 on a full repairing and insuring lease (2)
£51,580
RPI linked Rent Review on 11/10/2021 & 5 yearly thereafter
Total
270 sq m
(2,906 sq ft)
£51,580
(1) Progressive Indian cuisine cooked to the highest standard and served in an ambient setting in the heart of Bath (Source : www.mantraofbath.co.uk). (2) The lease is contracted out of the security of tenure provisions of the Landlord & Tenant Act 1954, but provides an option to renew for a further 10 years. (3) The upper floors will be let on a long lease from completion.
