Town Crier Public House, 16 Chandlers Way South Woodham Ferrers Chelmsford Essex CM3 5TB

Town Crier Public House, 16 Chandlers Way
South Woodham Ferrers
Chelmsford
Essex
CM3 5TB

Freehold Public House Ground Rent Investment

Let to Spirit Pub Company (Managed) Limited (a part of Greene King plc)
Lease expires October 2077 (no breaks) – circa 62 years unexpired
5 yearly rent reviews geared to 27.5% of OMV (next rent review July 2017)
Prominent town centre location adjacent to Asda car park
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
21
Auction
10th December 2015
Rent
£27,000 per Annum Exclusive
Status
Sold
Price
£595,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Public House Ground Rent Investment

Let to Spirit Pub Company (Managed) Limited (a part of Greene King plc)
Lease expires October 2077 (no breaks) – circa 62 years unexpired
5 yearly rent reviews geared to 27.5% of OMV (next rent review July 2017)
Prominent town centre location adjacent to Asda car park
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 21
Auction 10th December 2015
Rent £27,000 per Annum Exclusive
Status Sold
Price £595,000
Sector
Ground Rent
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 10 miles south of Chelmsford, 42 miles east of Central London
Roads: A12, A127, A130
Rail: South Woodham Ferrers Railway Station
Air: Stansted Airport

Situation

The property is situated on the eastern side of the pedestrianised Chandlers Way, close to its junction with Reeves Way, adjacent to the Asda car park with approximately 320 spaces. Nearby occupiers include Asda, McDonalds, Natwest, Santander and a number of independent retailers.

Tenure

Freehold.

Location

Miles: 10 miles south of Chelmsford, 42 miles east of Central London
Roads: A12, A127, A130
Rail: South Woodham Ferrers Railway Station
Air: Stansted Airport

Situation

Tenure

Freehold.

Description

The property comprises a public house arranged on the ground floor with residential accommodation arranged on the part ground and first floors. The property benefits from a beer garden to the rear.

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 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
Ground Part Ground/ First	Public House Residential – Understood to comprise 3 Bedrooms, Lounge, Kitchen, Bathroom and WC	444.09 sq m -	(4,780 sq ft -	SPIRIT PUB COMPANY (MANAGED) LIMITED (1)	Approximately 95 years from 01/07/1982 until 16/10/2077 on a full repairing and insuring lease	£27,000	01/07/2017 and five yearly thereafter (2)
Total Area		444.09 sq m	(4,780 sq ft)			£27,000

(1) Spirit Pub Company were acquired by Greene King Plc in June 2015 for £773 million bringing Greene King’s total estate to over 3,100 pubs – the largest managed pub group in the UK. (www.greeneking.co.uk). The property is sub-let to John Barras Pub Company who run approximately 160 pubs nationwide, having opened their first pub in 1994. (www.johnbarras.com)
(2)The lease provides for 5 yearly rent reviews to the higher of rent passing or 27.5% of the open market value.