Retail let to Loungers Limited (51 Branches) until 2025 (no breaks)
Includes 2 x two bedroom flats
Town Centre location
Nearby occupiers include Moss Bros, Greggs, Tesco Express, Kudos and a number Banks/Building Societies
Lot 55
Auction 23rd October 2014
Rent £36,900 per Annum Exclusive
Status Sold
Price £525,000
Sector Restaurant
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
64 miles north-west of London 38 miles south-east of Birmingham 21 miles north of Oxford
Roads
A422, A423, M40
Rail
Banbury Railway Station
Air
Luton Airport
Situation
The property is prominently situated on the south side of High Street, at the corner of Albert Street and George Street, and opposite the pedestrianised retail area. Neighbouring occupiers include Moss Bros, Greggs, Tesco Express, Kudos and a number of Banks/Building Societies.
Tenure
Freehold.
Location
Miles
64 miles north-west of London 38 miles south-east of Birmingham 21 miles north of Oxford
Roads
A422, A423, M40
Rail
Banbury Railway Station
Air
Luton Airport
Situation
The property is prominently situated on the south side of High Street, at the corner of Albert Street and George Street, and opposite the pedestrianised retail area. Neighbouring occupiers include Moss Bros, Greggs, Tesco Express, Kudos and a number of Banks/Building Societies.
Tenure
Freehold.
Description
The property comprises a ground floor restaurant/bar unit with self-contained flats each arranged on first and second floors, each comprising 2 bedrooms, a large lounge and a kitchen. The flats are accessed separately from Albert Street and High Street.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor restaurant/bar unit with self-contained flats each arranged on first and second floors, each comprising 2 bedrooms, a large lounge and a kitchen. The flats are accessed separately from Albert Street and High Street.
VAT
VAT is not 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
Ground
Restaurant/Bar
252.20 sq m
(2,715 sq ft)
LOUNGERS LIMITED t/a Pinto Lounge (1)
15 years from 05/08/2010 until 2025 on a full repairing and insuring lease
£30,000
05/08/2015 and 5 yearly
First & Second
Residential
2 Bedrooms, Large Lounge and Kitchen
INDIVIDUAL
AST for 6 months from 26/08/2014
£6,900
First & Second
Residential
2 Bedrooms, Large Lounge and Kitchen
VACANT POSSESSION
Totals
252.20 sq m
(2,715 sq ft)
£36,900 with 1 flat to be let
(1) For the year ending 28th April 2013, Loungers Limited reported a turnover of £22,148,754, pre-tax profits of £1,053,397 and a total net worth of £2,115,516. (Source: riskdisk.com 03/06/2014)
