Freehold Public House Investment
Freehold Public House Investment
Worthing is a south coast seaside town located 11 miles west of Brighton. The property is situated on the east side of Chapel Road, a busy retail and leisure location in close proximity to the Guildbourne Shopping Centre. Neighbouring occupiers include William Hill, Santander, Maplin Electronics and Tesco. To the rear of the property is a cinema and public car park.
Freehold.
Worthing is a south coast seaside town located 11 miles west of Brighton. The property is situated on the east side of Chapel Road, a busy retail and leisure location in close proximity to the Guildbourne Shopping Centre. Neighbouring occupiers include William Hill, Santander, Maplin Electronics and Tesco. To the rear of the property is a cinema and public car park.
Freehold.
The property comprises a public house arranged over the basement, ground and first floors. With self-contained office accomodation on the second and third floors. The property benefits from a prominent frontage to Chapel Road and a lift.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a public house arranged over the basement, ground and first floors. With self-contained office accomodation on the second and third floors. The property benefits from a prominent frontage to Chapel Road and a lift.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Basement Ground First |
Ancillary Public House/ Ancillary Office/Ancillary |
139.65 sq m 304.50 sq m 332.50 sq m |
(1,503 sq ft) (3,278 sq ft) (3,579 sq ft) |
JD WETHERSPOON PLC (1) on assignment | 35 years from 25/03/2000 until 2035 on a full repairing and insuring lease | £78,000 | 25/03/2015 and 5 yearly |
| Second & Third |
Office | 539.00 sq m |
(5,802 sq ft) |
INDIVIDUAL | 199 years from completion of the sale | £2,000 | |
| Totals | 1,315.65 sq m |
(14,162 sq ft) |
£80,000 | ||||
(1) For the year ending 29th July 2012, JD Wetherspoon plc reported a turnover of £1,197,129,000, pre-tax profits of £58,882,000 and a total net worth of £152,708,000. (Source: www.riskdisk.com 05/11/2013)
(2)There is an electricity substation in the basement let to the Electricity Board for 999 years from 14th August 1998 at a peppercorn rent.
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