Yate's 34 Queen Square Wolverhampton West Midlands WV1 1TL

Yate's
34 Queen Square
Wolverhampton
West Midlands
WV1 1TL

Freehold Public House Investment

Let to Hops Pub Company Limited (guaranteed by Stonegate Pub Company Limited) until 2040 (no breaks)
5 yearly rent reviews linked to the Retail Price Index
Prominent City Centre location opposite House of Fraser Department Store
Situated on the main leisure circuit
Benefits from attractive external beer terrace
Significant investment of c.£290,000 spent by the tenant in 2013
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
16
Auction
21st May 2015
Status
Sold
Price
£3,035,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Public House Investment

Let to Hops Pub Company Limited (guaranteed by Stonegate Pub Company Limited) until 2040 (no breaks)
5 yearly rent reviews linked to the Retail Price Index
Prominent City Centre location opposite House of Fraser Department Store
Situated on the main leisure circuit
Benefits from attractive external beer terrace
Significant investment of c.£290,000 spent by the tenant in 2013
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 16
Auction 21st May 2015
Status Sold
Price £3,035,000
Sector
Leisure
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 17 miles north-west of Birmingham, 17 miles west of Telford
Roads: A4150, A41, M6 (Junction 10)
Rail: Wolverhampton (1 hour 49 minutes direct to London Euston)
Air: Birmingham International Airport

Situation

The property is situated in a prominent corner position in the centre of Wolverhampton diagonally opposite the House of Fraser Department Store and The Mander Shopping Centre.

Tenure

Freehold.

Location

Miles: 17 miles north-west of Birmingham, 17 miles west of Telford
Roads: A4150, A41, M6 (Junction 10)
Rail: Wolverhampton (1 hour 49 minutes direct to London Euston)
Air: Birmingham International Airport

Situation

The property is situated in a prominent corner position in the centre of Wolverhampton diagonally opposite the House of Fraser Department Store and The Mander Shopping Centre.

Tenure

Freehold.

Description

The property comprises a substantial public house with kitchen and ancillary accommodation in the basement and large beer terrace to the rear overlooking St Peter’s Collegiate Church and the Civic Centre. The first, second, third and fourth floors are currently unused.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

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
Basement Ground First Second Third Fourth	Ancillary Public House Ancillary Ancillary Ancillary Ancillary	737.83 sq m 580.74 sq m 319.84 sq m 250.29 sq m 251.80 sq m 79.86 sq m	(7,942 sq ft) (6,251 sq ft) (3,443 sq ft) (2,694 sq ft) (2,710 sq ft) (860 sq ft)	HOPS PUB COMPANY LIMITED (guaranteed by Stonegate Pub Company Limited) (1)	25 years from completion until 2040 on a full repairing and insuring lease (2)	£265,000	2020 and five yearly (3)
Totals		2,220.36 sq m	(23,900 sq ft)			£265,000

(1) For the year ending 28th September 2014, Stonegate Pub Company Limited reported a turnover of £557,699,000 and net worth of £99,379,000. (Source: Stonegate Pub Company Limited Annual report and financial statements) For the full accounts please refer to the legal pack. Stonegate Pub Company Limited began trading in 2010 following the acquisition of 333 Mitchells & Butlers pubs. In 2011, Stonegate merged with Town & City Pub Company Limited adding a further 230 UK pubs to its estate including the Yates’s and Slug & Lettuce brands. Hops Pub Company Limited is a subsidiary of Town & City Pub Group Ltd. Stonegate is the UK’s largest privately held managed pub operator with approximately 620 pubs and bars. Stonegate is owned by investment funds managed by TDR Capital LLP. (Source: www.tdrcapital.com)
(2)The tenant is currently occupying under the terms of an existing lease which will be extended until 2040 by virtue of a reversionary lease upon completion of the sale providing an unbroken unexpired term of 25 years.
(3)The rent reviews are linked to the Retail Price Index subject to uplifts comprising a minimum of 1% and a maximum of 4% per annum compounded.