Prominent position in established leisure location
Located close to Clifton Down Shopping Centre and Railway Station
Neighbouring occupiers include Boots the Chemist, Sainsbury’s, W H Smith, Santander, RBS, Morrisons and Subway
Six Week Completion
Lot 40
Auction 5th December 2013
Rent £50,000 per Annum Exclusive
Status Sold
Price £680,000
Sector Restaurant
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
1 mile north of Bristol Harbourside and City Centre, 13 miles north-west of Bath, 40 miles east of Cardiff
Roads
A4, M32, M4 (Junction 19), M5 (Junction 18)
Rail
Clifton Down Railway Station, Bristol Temple Meads
Railway Station (direct to London Paddington)
Air
Bristol Airport
Situation
Clifton is an affluent suburb north of Bristol Harbourside/City Centre and is home to the University of Bristol, The Downs and Clifton Suspension Bridge. The property is situated in a prominent corner position on Whiteladies Road at its junction with Melrose Place on an established leisure pitch of public houses/bars and restaurants. The property is in close proximity to Clifton Down Railway Station and the Clifton Down Shopping Centre with retailers including Boots the Chemist, Sainsbury’s and W H Smith. Other neighbouring occupiers include Santander, RBS, Morrisons and Subway.
Tenure
Virtual Freehold. A new lease to be granted for a term of 999 years from completion of the sale at a peppercorn rent.
Location
Miles
1 mile north of Bristol Harbourside and City Centre, 13 miles north-west of Bath, 40 miles east of Cardiff
Roads
A4, M32, M4 (Junction 19), M5 (Junction 18)
Rail
Clifton Down Railway Station, Bristol Temple Meads
Railway Station (direct to London Paddington)
Air
Bristol Airport
Situation
Clifton is an affluent suburb north of Bristol Harbourside/City Centre and is home to the University of Bristol, The Downs and Clifton Suspension Bridge. The property is situated in a prominent corner position on Whiteladies Road at its junction with Melrose Place on an established leisure pitch of public houses/bars and restaurants. The property is in close proximity to Clifton Down Railway Station and the Clifton Down Shopping Centre with retailers including Boots the Chemist, Sainsbury’s and W H Smith. Other neighbouring occupiers include Santander, RBS, Morrisons and Subway.
Tenure
Virtual Freehold. A new lease to be granted for a term of 999 years from completion of the sale at a peppercorn rent.
Description
The property comprises restaurant and ancillary accommodation on the ground and lower ground floors.
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 restaurant and ancillary accommodation on the ground and lower ground floors.
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)
Tenant
Term
Rent p.a.x
Reviews
Lower Ground Ground
Restaurant/Bar
207.45 sq m 109.53 sq m
(2,233 sq ft) (1,179 sq ft)
ENTERPRISE INNS PLC (1) (2) on Assignment from Huggins & Co Ltd, a wholly owned subsidiary of Punch Taverns Plc
25 years from 07/09/2000 until 2025 on a full repairing and insuring lease
£50,000
07/09/2015 and 5 yearly
Totals
316.98 sq m
(3,412 sq ft)
£50,000
(1) For the year ending 30/09/2012, Enterprise Inns plc reported a turnover of £692,000,000, pre-tax profits of £34,000,000 and a total net worth of £1,055,000,000. (Source: www.riskdisk.com 29/10/2013) (2)The property has been sublet to The Cowshed (Bristol) Limited (t/a The Cowshed Restaurant).
Contacts
Seller's Solicitors
Memery Crystal LLP 44 Southampton Buildings London WC2A 1AP
