Long Income Freehold Public House guaranteed by Marston's PLC with RPI Linked Reviews
Let to Marston's Estates Ltd, with guarantee from Marston's PLC, until June 2054 (no breaks)
30 years unexpired term
Substantial Public House with Beer Garden
5 yearly RPI Linked Rent Reviews subject to 1% collar and 4% cap
Rising to a minimum of £179,019 per annum in June 2029 (1.00% compounded) and a maximum of £207,233 per annum (4.00% compounded)
Approximately 6,446 sq. ft. (598.85 sq. m.)
Prominent location on busy Ecclesall Road (A625)
Popular Leisure location
Occupiers on Ecclesall Road (A625) include Pizza Express, Greene King, Nando's, Boots, KFC and Costa
Lot 13
Auction 25th September 2024
Rent £170,331 per Annum Exclusive
Status Sold Post
Price
Sector Public House
Auction Venue Live Streamed Auction
On Behalf of a Major UK Fund
Property Information
Location
Miles
1 mile south of Sheffield City Centre, 29 miles south of Leeds, 30 miles east of Manchester
Roads
A625, A61, A621
Rail
Sheffield Station
Air
Manchester Airport
Situation
The property is well located on the northern side of Ecclesall Road (A625), a busy arterial route providing direct access to Sheffield City Centre. The property occupies a prominent position at its junction with Dover road, within a popular leisure hub with a high number of students living in the vicinity. Sheffield is a major educational centre with a student population of approximately 60,000 between the University of Sheffield (a top 100 world University) and Sheffield Hallam University (the 6th largest University in the UK). Nearby occupiers including Nando's, Green King, Pizza Express, KFC, Costa and a mix of bars, restaurants and cafes.
Tenure
Freehold.
Location
Miles
1 mile south of Sheffield City Centre, 29 miles south of Leeds, 30 miles east of Manchester
Roads
A625, A61, A621
Rail
Sheffield Station
Air
Manchester Airport
Situation
The property is well located on the northern side of Ecclesall Road (A625), a busy arterial route providing direct access to Sheffield City Centre. The property occupies a prominent position at its junction with Dover road, within a popular leisure hub with a high number of students living in the vicinity. Sheffield is a major educational centre with a student population of approximately 60,000 between the University of Sheffield (a top 100 world University) and Sheffield Hallam University (the 6th largest University in the UK). Nearby occupiers including Nando's, Green King, Pizza Express, KFC, Costa and a mix of bars, restaurants and cafes.
Tenure
Freehold.
Description
The property comprises a substantial public house on the ground, basement and first floors together with staff accommodation on the second floor. The property benefits from a beer terrace and garden to the front with an extensive frontage onto Ecclesall Road and Dover Road.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial public house on the ground, basement and first floors together with staff accommodation on the second floor. The property benefits from a beer terrace and garden to the front with an extensive frontage onto Ecclesall Road and Dover Road.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground Basement First Second
Public House Ancillary Dining Room Staff Accommodation
394.00 27.87 94.02 82.96
(4,241) (300) (1,012) (893)
MARSTON'S ESTATES LIMITED, guaranteed by MARSTON'S PLC
35 years and 3 days from 25/06/2019
£170,331.41
28/06/2029 and 5 yearly (1)
Total
598.85
(6,446)
£170,331.41
(1) RPI Linked Rent Reviews subject to 1% and 4% collar and cap. Rising to a minimum of £179,019 per annum from 2029 applying minimum uplift of 1.00% per annum compounded and a maximum of £207,233 per annum (4.00% compounded).
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
