Tenancy & Accommodation
| Floor |
Use |
Floor Areas
(Approx) |
Tenant |
Term |
Rent p.a.x |
Review/
(reversion) |
| Ground |
Public House |
513.00 sq m |
(5522 sq ft) |
JD
WETHERSPOON
PLC (1) |
39 years and 51
weeks from
05/01/1999 until
28/12/2038 |
£80,000 |
05/01/2019
and 5 yearly
(28/12/2038) |
First
Second |
OfficeOffice |
336.40 sq m
338.00 sq m |
(3,621 sq ft)
(3,638 sq ft) |
(2) |
|
|
|
Total
|
1,187.40 sq m |
(12,781 sq ft) |
|
|
£80,000 |
|
(1) For the year ending 28th July 2019, J D Wetherspoon plc reported a turnover of 1,818,793,000, pre-tax profits of 95,419,000 and shareholders funds of 316,812,000 (Source: SmartSearch 25/08/2020).
(2) The mortgagee is aware of a lease dated 2 July 2005 in respect of the upper floors at the property granted to an individual for a term of 25 years at a peppercorn rent. The lease is not registered and as far as the mortgagee is aware, the Individual was not in occupation at the date of the mortgage (i.e. 1 February 2007). Accordingly the individual did not have an overriding interest and it is considered that the mortgagee is not bound by the lease. It is proposed that the Seller will execute the transfer deed for the property by way of a TR2. The buyer is however to make his own enquiries and satisfy himself as to his legal position.
