Freehold Long Let Public House Investment with Annual RPI Increases
Busy town centre pub, live sports and music venue
Let to Barley Pub Company Ltd until March 2045 (no breaks) guaranteed by Stonegate Pub Company Ltd
Annual RPI rent increases subject to a 2% collar and 4% cap
Lease extended by 5 years in November 2020
Approximately 417.23 sq m (4,491 sq ft)
Benefits from a substantial beer garden, garden bar, covered drinking area and outside pool table
Nearby occupiers include Tesco Express, McDonalds, Nandos and a range of pubs, bars and restaurants
Lot 16
Auction 2nd November 2023
Rent £151,654 per Annum Exclusive
Status Sold Prior
Price
Sector Public House
Auction Venue Live Streamed Auction
Property Information
Location
Miles
19 miles east of Milton Keynes, 21 miles south-east of Birmingham, 30 miles west of Cambridge, 51 miles north of Central London
Roads
A421, A1, M1(J13)
Rail
Bedford Railway Station (41 mins to London St Pancras), St Johns Railway Station
Air
London Luton International Airport
Situation
Bedford is a an affluent commuting and market town in the Oxford-Cambridge Arc with a primary catchment population of approximately 300,000 people. The town benefits from excellent transport connections with the Thames Link rail service providing direct access to London St Pancras in 41 mins and the A1 and M1 some 10 miles to the east and west respectively.
The property is situated in a conservation area on the east side of High Street within the prime leisure pitch of Bedford. Nearby occupiers include Tesco Express, McDonalds, Nandos and a range of pubs, bars and restaurants.
Tenure
Freehold.
Location
Miles
19 miles east of Milton Keynes, 21 miles south-east of Birmingham, 30 miles west of Cambridge, 51 miles north of Central London
Roads
A421, A1, M1(J13)
Rail
Bedford Railway Station (41 mins to London St Pancras), St Johns Railway Station
Air
London Luton International Airport
Situation
Bedford is a an affluent commuting and market town in the Oxford-Cambridge Arc with a primary catchment population of approximately 300,000 people. The town benefits from excellent transport connections with the Thames Link rail service providing direct access to London St Pancras in 41 mins and the A1 and M1 some 10 miles to the east and west respectively.
The property is situated in a conservation area on the east side of High Street within the prime leisure pitch of Bedford. Nearby occupiers include Tesco Express, McDonalds, Nandos and a range of pubs, bars and restaurants.
Tenure
Freehold.
Description
The property comprises an attractive Grade II listed public house with ground floor trading area and kitchen, basement cellar and storage, first floor customer WC's, former staff flat and ancillary accommodation, and second floor (step ladder access only) storage.
Externally the property benefits from a substantial beer garden, garden bar and covered drinking area.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
C66
Description
The property comprises an attractive Grade II listed public house with ground floor trading area and kitchen, basement cellar and storage, first floor customer WC's, former staff flat and ancillary accommodation, and second floor (step ladder access only) storage.
Externally the property benefits from a substantial beer garden, garden bar and covered drinking area.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
C66
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Next Rent Increase
Ground Basement First Second
Public House Cellar/Storage Ancillary/Former Flat Storage
259.07 56.16 102.00 Not Measured
(2,788) (604) (1,098) Not Measured
BARELY PUB COMPANY LIMITED guaranteed by STONEGATE PUB COMPANY LIMITED (1)
From 15/12/2004 until 02/03/2045 Annual RPI linked rent increases on 3rd March (2% collar and 4% cap). FR&I (2)
£151,654
03/03/2024 (Annually thereafter)
Total
417.23
(4,491)
£151,654
(1) Following the acquisition of EI Group, Stonegate Pub Company is now the largest pub company in Britain with over 4,500 sites. The company operates traditional pubs in both high street and suburban locations, as well as leading branded bars including Slug & Lettuce, Yates, Walk about and Be At One (www.stonegategroup.co.uk). (2) The lease was extended in November 2020 for a further 5 years by way of reversionary lease (from 02/03/2040 to 02/03/2045).
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
