The Bluebell PH Fulwell Road, Fulwell Sunderland Tyne and Wear SR6 9AD

The Bluebell PH
Fulwell Road, Fulwell
Sunderland
Tyne and Wear
SR6 9AD

Freehold Public House Investment

Let to Stonegate Pub Company Limited until 2040 (no breaks)
19 years unexpired term
5 yearly Retail Price Index (RPI) linked Rent Reviews, subject to a annual minimum of 1% and maximum of 4% per annum compounded
Prominent corner position at busy crossroads adjacent to Sainsbury's Supermarket
Including Large car park, part of which has Active management potential.

Lot
13
Auction
24th September 2021
Rent
£104,642 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Freehold Public House Investment

Let to Stonegate Pub Company Limited until 2040 (no breaks)
19 years unexpired term
5 yearly Retail Price Index (RPI) linked Rent Reviews, subject to a annual minimum of 1% and maximum of 4% per annum compounded
Prominent corner position at busy crossroads adjacent to Sainsbury's Supermarket
Including Large car park, part of which has Active management potential.

Lot 13
Auction 24th September 2021
Rent £104,642 per Annum Exclusive
Status Sold Prior
Price
Sector
Leisure
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 2 miles north of Sunderland city centre; 13 miles north-east of Durnham; 14 miles south-east of Newcastle
Roads: B1291, A1018, A1(M)
Rail: Sunderland Railway Station
Air: Newcastle International Airport

Situation

Fulwell is a popular residential district of the City of Sunderland with a population of over 11,000 close. The town benefits from day visitors to the popular Seaburn and Whitburn Bay.
The property is prominently located at the busy junction of Fulwell Road, Sea Road, Dene Lane and Station Road (B1291) leading to the Newcastle Road (A1018). Sea Road is the towns main retailing thoroughfare. Nearby occupiers include Sainsbury's Supermarket, Lloyds Bank, Greggs and Co-op Funeral care.

Tenure

Freehold.

Location

Miles: 2 miles north of Sunderland city centre; 13 miles north-east of Durnham; 14 miles south-east of Newcastle
Roads: B1291, A1018, A1(M)
Rail: Sunderland Railway Station
Air: Newcastle International Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor public house with basement cellar and a function room and four bedroom managers flat on the first floor. In addition, there is a self-contained retail unit fronting Station Road which has been sub let. The entire property occupies a substantial site of approximately 0.29 hectares (0.70 acres) including a large car park to the rear, 15 cars spaces of which has been sublet to the adjacent Sainsbury's supermarket.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

Band D. See legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

Band D. See legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
Basement Ground First Ground Floor	Cellar Public House Function Room/ Residential - 4 bed flat Retail Unit	177.94 sq m 599.55 sq m 169.38 sq m 132.43 sq m 68.24 sq m	(1,915 sq ft) (6,453 sq ft) (1,823 sq ft) (1,425 sq ft) (735 sq ft)	STONEGATE PUB COMPANY LIMITED (1)	25 years from 29h July 2005 until 2040 on a full repairing and insuring lease (2)	£104,642	2nd July 2020, 2025 and 5 yearly (28/7/2040)
Total		1,208.44 sq m	(13,007 sq ft)			£104,642

(1) For the years ending 27/09/2020, Stonegate Pub Company Limited (CRN FC029833) reported a turnover of £707,000,000 a pre-tax profit of negative £746,00,000 and a net worth of £197,000,000 (Source: NorthRow 16/08/2021)
(2) The property is let on 3 separate leases. A lease to Stonegate Pub Company Limited for a term of 25 years from 29th July 2005 and a revisionary lease for a term of 10 years from 29th July 2030 until 2040 and a lease over 15 car parking spaces in the car park for a term of 15 years from 10 November 2006 until 9th November 2021 at Peppercorn rent and which is outside of the Security of Tenure provision of the Landlord and Tenant Act 1954. The car park lease has been sublet to Sainsburys plc.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.