41 - 43 St. Thomas Street
Weymouth
Dorset
DT4 8EH

Freehold Public House Investment and Vacant Office Opportunity

  • Ground floor let to J D Wetherspoon Plc until Dec. 2038 (no breaks)
  • Prominent town centre location
  • Busy and popular Dorset tourist destination
  • Residential redevelopment potential on the upper floors (subject to consents)
  • Lot
    16
  • Auction
    23/Sep/2020
  • Rent
    £80,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £1,210,000
  • Sector
    Leisure
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Receivers A B Hughes and J P Smith
Important Auction & Property Update
  • 41 - 43 St. Thomas Street<br>Weymouth<br>Dorset<br>DT4 8EH
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
37 miles south-west of Bournemouth
30 miles south of Yeovil
56 miles east of Exeter
Roads
A30, A354, A37
Rail
Weymouth Railway Station
Air
Bournemouth International Airport
Situation

Weymouth is a busy and popular Dorset tourist destination. The property is prominently located on the east side of St. Thomas Street in the heart of the town centre, equidistant between Weymouth Marina and Weymouth Beach. Nearby occupiers include Tesco Metro, Slug & Lettuce, Ladbrokes, Betfred and Iceland Foods.

Tenure

Freehold.

Description

The property comprises a substantial building with a public house on the ground floor with a beer garden to the rear and self contained office accommodation on the first and second floors. The first and second floor offices may be suitable for residential redevelopment (subject to consents).

Note

This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

Band C. See legal pack.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview/
(reversion)
GroundPublic 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
£80,00005/01/2019
and 5 yearly
(28/12/2038)
First
Second
OfficeOffice336.40 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.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    15.09.20
    File Size
    13 MB
    Login to View
  • Site Plan
    Updated Date
    02.09.20
    File Size
    888 KB
    View PDF
  • Catalogue Page
    Updated Date
    03.09.20
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    15.09.20
    File Size
    57 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
JCP Solicitors Venture Court, Waterside Business Park, Valley Way Enterprise Park
Swansea
SA6 8QP
Eleri Roebuck 01792 525 472eleri.roebuck@jcpsolicitors.co.uk

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now