Freehold Restaurant & Residential Ground Rent Investment
Freehold Restaurant & Residential Ground Rent Investment
The affluent and popular tourist cathedral city of Bath is located 11 miles south-east of Bristol, 35 miles south-west of Swindon and 45 miles south of Cheltenham. The city benefits from good communications, with the M4 motorway 9 miles to the north providing direct links to London and Wales. Bath Spa railway station provides services to London Paddington (journey time 87 minutes) and Bristol Temple Meads (journey time 13 minutes). Bristol Airport is 25 miles to the west. The property is located in the city centre on the east side of The Paragon at its junction with Lansdown Road, George Street and Broad Street. It is 100 metres from Milsom Street, one of the main retailing thoroughfares in the city, and 600 metres north of Bath rugby ground. The Bartlett Street Quarter, with a number of specialist retailers, is close by, together with Wagamama, Loch Fyne, Slug & Lettuce, Revolution, Pig & Fiddle and Saracens Head public houses, Hilton Hotel and Waitrose.
Freehold.
The affluent and popular tourist cathedral city of Bath is located 11 miles south-east of Bristol, 35 miles south-west of Swindon and 45 miles south of Cheltenham. The city benefits from good communications, with the M4 motorway 9 miles to the north providing direct links to London and Wales. Bath Spa railway station provides services to London Paddington (journey time 87 minutes) and Bristol Temple Meads (journey time 13 minutes). Bristol Airport is 25 miles to the west. The property is located in the city centre on the east side of The Paragon at its junction with Lansdown Road, George Street and Broad Street. It is 100 metres from Milsom Street, one of the main retailing thoroughfares in the city, and 600 metres north of Bath rugby ground. The Bartlett Street Quarter, with a number of specialist retailers, is close by, together with Wagamama, Loch Fyne, Slug & Lettuce, Revolution, Pig & Fiddle and Saracens Head public houses, Hilton Hotel and Waitrose.
Freehold.
The property comprises a ground and lower ground floor restaurant for 90 covers. The ground floor comprises bar, restaurant and terrace with the lower ground floor comprising open plan kitchen, customer WCs, restaurant, storage and terrace. The terraced areas (internal and external) benefit from views of the city towards Henrietta Park. The property has an entrance on Walcot Street, but this is not currently used. The upper floors will be let on a long lease from completion.
VAT is applicable to this lot.
Band B. Please see legal pack at acuitus.co.uk.
The property comprises a ground and lower ground floor restaurant for 90 covers. The ground floor comprises bar, restaurant and terrace with the lower ground floor comprising open plan kitchen, customer WCs, restaurant, storage and terrace. The terraced areas (internal and external) benefit from views of the city towards Henrietta Park. The property has an entrance on Walcot Street, but this is not currently used. The upper floors will be let on a long lease from completion.
VAT is applicable to this lot.
Band B. Please see legal pack at acuitus.co.uk.
| Floor (3) | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|
| Ground Lower Ground Lower Ground Vaults |
Restaurant Kitchen/ Restaurant Storage |
90 sq m 145 sq m 35 sq m |
(969 sq ft (1,561 sq ft) (376 sq ft) |
SWAMI MANTRA LIMITED with personal guarantees t/a Mantra (1) |
20 years from 11/10/2016 until 10/10/2036 on a full repairing and insuring lease (2) |
£51,580 | RPI linked Rent Review on 11/10/2021 & 5 yearly thereafter |
| Total |
270 sq m |
(2,906 sq ft) |
£51,580 | ||||
(1) Progressive Indian cuisine cooked to the highest standard and served in an ambient setting in the heart of Bath (Source : www.mantraofbath.co.uk).
(2) The lease is contracted out of the security of tenure provisions of the Landlord & Tenant Act 1954, but provides an option to renew for a further 10 years.
(3) The upper floors will be let on a long lease from completion.
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