Entirely let to EI Group Plc (formerly known as Enterprise Inns Plc)
Lease expires in January 2070 (Approximately 53 years unexpired) - No Breaks
Site Area of approximately 0.72 acres
Affluent Hampshire market town
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 13
Auction 30th March 2017
Rent £11,000 per Annum Exclusive
Status Sold
Price £300,000
Sector Ground Rent
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
2 miles east of Andover town centre, 14 miles north-west of Winchester, 29 miles north of Southampton
Roads
A34, A303, A3057, M4
Air
Southampton Airport
Situation
The property is situated in a predominantly residential location on the northern side of Pilgrims Way, to the west of River Way, approximately two miles from Andover Town Centre. Other occupiers in the area include We Buy Any Car Andover, Buildbase, Airforce Ventilation Products, Andover Tyre & Auto Centres, Twinings and Abel and Cole.
Tenure
Freehold.
Location
Miles
2 miles east of Andover town centre, 14 miles north-west of Winchester, 29 miles north of Southampton
Roads
A34, A303, A3057, M4
Air
Southampton Airport
Situation
The property is situated in a predominantly residential location on the northern side of Pilgrims Way, to the west of River Way, approximately two miles from Andover Town Centre. Other occupiers in the area include We Buy Any Car Andover, Buildbase, Airforce Ventilation Products, Andover Tyre & Auto Centres, Twinings and Abel and Cole.
Tenure
Freehold.
Description
The property comprises a public house (refurbished in 2014) arranged over ground and first floors with a site area of approximately 0.72 acres. The property benefits from a car park with parking for over 30 cars and a large patio area to the front of the pub.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a public house (refurbished in 2014) arranged over ground and first floors with a site area of approximately 0.72 acres. The property benefits from a car park with parking for over 30 cars and a large patio area to the front of the pub.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Site Area (Approx)
Tenant
Term
Rent p.a.x
Review
Ground/ First
Public House
0.72 acres
(0.29 hectares)
EI Group Plc (1) (2)
99 years from 01/01/1971 until 01/01/2070 on a full repairing and insuring lease
£11,000
01/01/2037 (3)
Totals
0.72 acres
(0.29 hectares)
£11,000
(1) EI Group Plc were formerly known as Enterprise Inns Plc. For the year ending 30th September 2016, EI Group Plc reported a turnover of £632,000,000, pre-tax profits of £75,000,000 and a total net worth of £1,117,000,000 (Source: Experian Group 01/03/2017). (2) The property was sublet in 2008 to two individuals, at an initial sublet rent of £21,500 per annum. (3) The rent is reviewed to the letting value of the site (without including anything for the value of the buildings on the site). Please see the lease for further details.
