Harbour Tavern 23 Queen Street Bridlington North Humberside YO15 2SH

Harbour Tavern
23 Queen Street
Bridlington
North Humberside
YO15 2SH

Freehold Public House Investment

Majority let to Marston’s Estates Limited until 2028
Includes 5 residential flats
Popular tourist destination
Prominent town centre position adjacent to Bridlington Harbour
Nearby occupiers include Marks & Spencer, Yorkshire Bank and Superdrug
Producing £80,000 p.a.x. (Subject to Note 2)
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
64
Auction
22nd October 2015
Rent
£80,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Public House Investment

Majority let to Marston’s Estates Limited until 2028
Includes 5 residential flats
Popular tourist destination
Prominent town centre position adjacent to Bridlington Harbour
Nearby occupiers include Marks & Spencer, Yorkshire Bank and Superdrug
Producing £80,000 p.a.x. (Subject to Note 2)
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 64
Auction 22nd October 2015
Rent £80,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Public House
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 41 miles east of York, 67 miles north-east of Leeds, 67 miles south-east of Middlesbrough
Roads: A165, A614
Rail: Bridlington Railway Station
Air: Leeds Bradford Airport

Situation

Bridlington is a popular tourist destination situated on the northeast coast of Humberside. The property is situated in a prominent corner location on the southern side of the Queen Street and adjacent to Bridlington Harbour in the town centre. Nearby occupiers include Marks & Spencer, Yorkshire Bank and Superdrug.

Tenure

Freehold.

Location

Miles: 41 miles east of York, 67 miles north-east of Leeds, 67 miles south-east of Middlesbrough
Roads: A165, A614
Rail: Bridlington Railway Station
Air: Leeds Bradford Airport

Situation

Tenure

Freehold.

Description

The property comprises ground and first floor public house accommodation with ancillary and residential accommodation on the second and third floors. The property also benefits from self-contained basement accommodation which was last used as a nightclub.

Six Week Completion

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 not applicable to this lot.

EPC

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

Description

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	Review/(Reversion)
Basement Ground First Second Third	Ancillary Public House 3 Flats 2 Flats	45.73 sq m 325.34 sq m 289.02 sq m 223.80 sq m 123.35 sq m	(492 sq ft) (3,502 sq ft) (3,111 sq ft) (2,409 sq ft) (1,328 sq ft)	MARSTON’S ESTATES LIMITED (t/a Harbour Tavern) (1)	30 years from 05/03/1998 until 2028 on a full repairing and insuring lease	£80,000	05/03/2018 and 5 yearly
Part Basement	Former Club (3)	135.76 sq m	(1,461 sq ft)	HARRISON LEISURE LTD (2)	20 years from 2004 until 2024	See Note (2)	5 yearly linked to RPI
Totals		1,143.00 sq m	(12,303 sq ft)			£80,000 (2)

(1) Marston’s Estates Limited are wholly owned by Marston’s plc, a FTSE 250 listed company. Marston’s have been running pubs and brewing beer in one form or another for over 180 years and now have 13,000 people working for them. Marston’s operate around 1,700 pubs and bars nationwide (Source: www.marstons.co.uk). For the year ending 04/10/2014, Marston’s Estates Limited reported a turnover of £10,500,000, a pre-tax profit of negative -£17,200,000 and a total net worth of £310,200,000. (Source: www.experian.co.uk 21/09/2015)
(2) Companies House has listed Harrison Leisure Limited (Company Number 02893483) as dissolved as at 27/08/2015. The rent reserved under the terms of the lease is £15,000 p.a.x.
(3) The part basement former club floor area stated above has been taken from www.voa.gov.uk.