5 Bladud Buildings
The Paragon
Bath
Somerset
BA1 5LS

Freehold Restaurant & Residential Ground Rent Investment

  • Prominent city centre location
  • Lease expires 2036 (no breaks)
  • RPI linked Rent Review in 2021 & 5 yearly thereafter
  • Comprises restaurant with two terraces and a garden
  • Lot
    39
  • Auction
    14/Feb/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
Important Auction & Property Update
  • 5 Bladud Buildings<br>The Paragon<br>Bath<br>Somerset<br>BA1 5LS
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* More information on the term "price" can be found here

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.

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)UseFloor Areas (Approx)TenantTermRent p.a.xReviews
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)
£51,580RPI 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.

Property Documents

  • Catalogue Page
    Updated Date
    22.01.19
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    22.01.19
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    15.08.19
    File Size
    144 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Mogers Drewett 24 Queen Square
Bath
BA1 2HY
Melanie Harrison 01225 750 000Melanie.Harrison@mogersdrewett.com

Useful Links

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