Freehold Long Let Public House Investment with Annual CPI Increases
Strategic and Prominent Town Centre Location on New Market Street
Let to Stonegate Pub Company Limited expiring November 2044 (no breaks)
Annual CPI rent increases subject to a min of 1% and max 4%
Property comprises 3,875 sq. ft. (360 sq. m.) over Ground, Basement, First and Second floors
Nearby occupiers include Superdrug, JD Sports, H. Samuel, JD Wetherspoon and CeX
Lot 39
Auction 21st September 2023
Rent £88,772 per Annum Exclusive
Status Sold Prior
Price
Sector Public House
Auction Venue Live Streamed Auction
On Behalf of a Major Fund
Property Information
Location
Miles
9 miles south of Preston, 10 miles south-west of Blackburn, 25 miles north-west of Manchester
Roads
A6, M6, M61, M65
Rail
Chorley Train Station
Air
Manchester Airport
Situation
Chorley is located 9 miles south of Preston and 25 miles north-west of Manchester. The property is located on the east side of the pedestrianised New Market Street, close to its junction with High Street and to Market Place, Chorley's covered market which operates five days a week. Nearby occupiers include Superdrug, JD Sports, H.Samuel, JD Wetherspoon and CeX.
Tenure
Freehold.
Location
Miles
9 miles south of Preston, 10 miles south-west of Blackburn, 25 miles north-west of Manchester
Roads
A6, M6, M61, M65
Rail
Chorley Train Station
Air
Manchester Airport
Situation
Chorley is located 9 miles south of Preston and 25 miles north-west of Manchester. The property is located on the east side of the pedestrianised New Market Street, close to its junction with High Street and to Market Place, Chorley's covered market which operates five days a week. Nearby occupiers include Superdrug, JD Sports, H.Samuel, JD Wetherspoon and CeX.
Tenure
Freehold.
Description
Public House arranged over the ground, basement, first and second floors. The property benefits from loading to the rear.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion.
EPC
See Legal Pack.
Description
Public House arranged over the ground, basement, first and second floors. The property benefits from loading to the rear.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion.
EPC
See Legal Pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground Basement First Second
Public House Storage Ancillary Ancillary
209.96 150.04 Not Measured Not Measured
(2,260) (1,615) Not Measured Not Measured
STONEGATE PUB COMPANY LIMITED (CRN FC029833)
A term of years from 29/07/2005 expiring 13/11/2044 (3)
£88,772.50
13/11/2023 and annually thereafter (2)
Total
360.00
(3,875)
£88,772.50
(1) Following the acquisition of EI Group, Stonegate Pub Company is now the largest pub company in Britain with over 4,500 sites. The company operates traditional pubs in both high street and suburban locations, as well as leading branded bars including Slug & Lettuce, Yates, Walk about and Be At One (www.stonegategroup.co.uk). (2) The rent reviews are linked to annual CPI uplifts subject to a minimum of 1% and a maximum of 4%. (3) An unconditional agreement for lease has been entered into dated 29/10/2020 for a further reversionary lease to be granted on 13/11/2039 for a term from 13/11/2039 until 12/11/2044.
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.
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