Long Income Freehold Public House with RPI Linked Reviews
Let to Marston's Estates Ltd until June 2054 (no breaks)
28 years 10 months 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 £204,593 per annum in June 2029 (1.00% compounded) and a maximum of £236,838 per annum (4.00% compounded)
Approximately 622.02 sq. m. (6,695 sq. ft.)
Prominent location on Church Road (A264)
Popular Leisure location in close proximity to Royal Tunbridge Wells Railway Station
Rent £194,664 per Annum Exclusive
Status Available
Guide* £2,400,000
Sector Leisure, Public House
On Behalf of a Major UK Fund
Method of Sale For sale via Auction Contract at the 30th October Auction unless sold or withdrawn prior.
Property Information
Location
Miles
11 miles south of Sevenoaks, 30 miles north of Eastbourne, 40 miles south of London
Roads
A21, A26, A264, M25 (Junction 5)
Rail
Tunbridge Wells Railway Station (approx. 40 mins to London Bridge)
Air
London Gatwick Airport, London Heathrow Airport
Situation
Tunbridge Wells is an affluent and popular commuter town in the heart of Kent. The property is situated on the southern side of Church Road (A264), 400 metres from Tunbridge Wells Railway Station and adjacent to Paramount Place, a unique retirement community which will feature 166 residential properties, restaurants, cafes, spa and gym. Nearby occupiers include Cote, Starbucks, Wagamama and Royal Tunbridge Wells Town Hall.
Tenure
Freehold.
Location
Miles
11 miles south of Sevenoaks, 30 miles north of Eastbourne, 40 miles south of London
Roads
A21, A26, A264, M25 (Junction 5)
Rail
Tunbridge Wells Railway Station (approx. 40 mins to London Bridge)
Air
London Gatwick Airport, London Heathrow Airport
Situation
Tunbridge Wells is an affluent and popular commuter town in the heart of Kent. The property is situated on the southern side of Church Road (A264), 400 metres from Tunbridge Wells Railway Station and adjacent to Paramount Place, a unique retirement community which will feature 166 residential properties, restaurants, cafes, spa and gym. Nearby occupiers include Cote, Starbucks, Wagamama and Royal Tunbridge Wells Town Hall.
Tenure
Freehold.
Description
The property comprises a substantial public house on the lower ground, upper ground, first and second floors. The property benefits from a large beer garden fronting Church Road and an extensive outdoor terrace to the rear.
VAT
VAT is applicable to this lot.
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 lower ground, upper ground, first and second floors. The property benefits from a large beer garden fronting Church Road and an extensive outdoor terrace to the rear.
VAT
VAT is applicable to this lot.
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
Lower Ground Upper Ground First Second
Public House
214.27 154.27 151.00 102.49
(2,306) (1,660) (1,625) (1,103)
MARSTON'S ESTATES LIMITED (2)
35 years and 3 days from 25/06/2019
£194,664
28/06/2029 and 5 yearly (1)
Total
622.02
(6,695)
£194,664
(1) RPI Linked Rent Reviews subject to 1% and 4% collar and cap. Rising to a minimum of £204,593 per annum from 2029 applying minimum uplift of 1.00% per annum compounded and a maximum of £236,838 per annum (4.00% compounded). (2) Marston’s is a leading UK leisure operator having been part of the British pub landscape for over 180 years, now operating from over 1,400 pubs and employing 11,000 people (www.marstonspubs.co.uk).
