Bowers Tap 157/158 Lower Briggate Leeds West Yorkshire LS1 6LY

  • Bowers Tap<br>157/158 Lower Briggate<br>Leeds<br>West Yorkshire<br>LS1 6LY

Bowers Tap
157/158 Lower Briggate
Leeds
West Yorkshire
LS1 6LY

Freehold Long Let Public House Investment with Annual RPI Increases

  • Substantial Public House in popular City Centre location
  • Let to Barley Pub Company Ltd until May 2044 (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 613.16 sq m (6,600 sq ft)
  • Opposite Briggate Students Accommodation
  • Close to Trinity Leeds where retailers include Marks & Spencer, Tesco, McDonald's, Nando's, Wagamama, Boots the Chemist and Pandora
  • Other nearby occupiers include Sainsbury's Local, Five Guys, Revolution Bar, Everyman Cinema and Caffè Nero
  • Lot
    33
  • Auction
    2nd November 2023
  • Rent
    £167,517 per Annum Exclusive
  • Status
    Withdrawn Prior
  • Price
     
  • Sector
    Public House
  • Auction Venue
    Live Streamed Auction
Important Update
  • Expand
  • Photos
  • Map

Freehold Long Let Public House Investment with Annual RPI Increases

  • Substantial Public House in popular City Centre location
  • Let to Barley Pub Company Ltd until May 2044 (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 613.16 sq m (6,600 sq ft)
  • Opposite Briggate Students Accommodation
  • Close to Trinity Leeds where retailers include Marks & Spencer, Tesco, McDonald's, Nando's, Wagamama, Boots the Chemist and Pandora
  • Other nearby occupiers include Sainsbury's Local, Five Guys, Revolution Bar, Everyman Cinema and Caffè Nero
  • Lot 33
  • Auction 2nd November 2023
  • Rent £167,517 per Annum Exclusive
  • Status Withdrawn Prior
  • Price  
  • Sector
    Public House
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
15 miles south Harrogate, 26 miles south-west of York, 44 miles north-east of Manchester
Roads
M621, M1, A1(M), A64
Rail
Leeds Train Station
Air
Leeds Bradford Airport
Situation

Leeds is the third largest City in the UK, with a resident population of over 750,000. The City boasts excellent communication links being within close proximity of the A61, M62 and M1. Leeds is the third busiest railway station outside of London with over 31 million passengers per annum.

The property is located within the prime retail and leisure quarter of Leeds City Centre, on the east side of Lower Briggate, close to its junction with Duncan Street. The new student accommodation scheme 'Briggate Students' is opposite with other nearby occupiers including Marks & Spencer, Tesco, Revolution Bar, Everyman Cinema, McDonald's, Nando's, Wagamama, Five Guys, Boots the Chemist and Caffè Nero.

Tenure

Freehold.

Location
Miles
15 miles south Harrogate, 26 miles south-west of York, 44 miles north-east of Manchester
Roads
M621, M1, A1(M), A64
Rail
Leeds Train Station
Air
Leeds Bradford Airport
Situation

Leeds is the third largest City in the UK, with a resident population of over 750,000. The City boasts excellent communication links being within close proximity of the A61, M62 and M1. Leeds is the third busiest railway station outside of London with over 31 million passengers per annum.

The property is located within the prime retail and leisure quarter of Leeds City Centre, on the east side of Lower Briggate, close to its junction with Duncan Street. The new student accommodation scheme 'Briggate Students' is opposite with other nearby occupiers including Marks & Spencer, Tesco, Revolution Bar, Everyman Cinema, McDonald's, Nando's, Wagamama, Five Guys, Boots the Chemist and Caffè Nero.

Tenure

Freehold.

Description

The property comprises a substantial public house trading on the ground and first floors. The kitchen, beer and spirit store and customer WC's are at basement level while the second floor comprises ancillary accommodation and a managers flat with 3 bedrooms, kitchen, bathroom and sitting room. A further 1 bedroom flat is provided at the third floor with sitting room, kitchenette and bathroom. The building is situated within a conservation area.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

B37

Description

The property comprises a substantial public house trading on the ground and first floors. The kitchen, beer and spirit store and customer WC's are at basement level while the second floor comprises ancillary accommodation and a managers flat with 3 bedrooms, kitchen, bathroom and sitting room. A further 1 bedroom flat is provided at the third floor with sitting room, kitchenette and bathroom. The building is situated within a conservation area.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

B37

Tenancy & Accommodation

Floor Use Gross Internal Floor Areas
Approx sq m
Gross Internal Floor Areas
Approx sq ft
Tenant Term Rent p.a.x. Rent Review
Ground
Basement
First
Second

Third
Public House
Kitchen/Storage
Public House
Ancillary/3 bed staff flat
1 bed staff flat
209.03
195.10
209.03
Not Measured

Not Measured
(2,250)
(2,100)
(2,250)
Not Measured

Not Measured
BARELY PUB COMPANY LIMITED
guaranteed by STONEGATE
PUB COMPANY LIMITED
(1)
From 15/12/2004
until 21/05/2044
Annual RPI linked rent increases
on 22nd May
(2% collar and 4% cap).
FR&I
(2)
£167,517
21/05/2024
(Annually thereafter)
Total Commercial Area  
613.16
(6,600)
   
£167,517
 

(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 22/05/2039 to 21/05/2044).

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.

Property Documents

  • Brochure
    Updated Date
    29.11.23
    File Size
    5 MB
    View PDF
  • Common Auction conditions
    Updated Date
    20.05.24
    File Size
    620 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Jon SkerryJon Skerry +44 (0)20 7034 4863 +44 (0)7736 300 594jon.skerry@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Associate Auctioneers
Carrick Real Estate 1st Floor, Canada House, Chepstow Street
Manchester
M1 5FW
Steve Carrick +44(0)161 806 0455 +44 (0)7711 042 584sc@carrickre.com
Seller's Solicitors
Shepherd and Wedderburn LLP Octagon Point, St Paul's
5 Cheapside
London
EC2V 6AA
Gabby Ives +44 (0)20 7429 4956gabby.ives@shepwedd.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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