Prince of Wales 1-3 Railway Street Chatham Kent ME4 4HU

Prince of Wales
1-3 Railway Street
Chatham
Kent
ME4 4HU

Freehold Long Let Public House Investment with Annual CPI Increases

Strategic and Prominent Town Centre Location on Railway Street
Let to Barley Pub Company Limited expiring November 2044 (no breaks) with a guarantee from Stonegate Pub Company Limited, Hops Pub Company Limited and Town & City Pub Group Limited
Annual CPI Rental increases subject to a minimum of 1% and maximum of 4%
Comprising 9,842 sq. ft. (914.35 sq. m.) of Public House accommodation with managers accommodation on the Third floor
Close to the Popular Pentagon Shopping Centre

Lot
10
Auction
21st September 2023
Rent
£100,163 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction
On Behalf of a Major Fund

Important Update Interested?

Expand
Photos
Map

Freehold Long Let Public House Investment with Annual CPI Increases

Strategic and Prominent Town Centre Location on Railway Street
Let to Barley Pub Company Limited expiring November 2044 (no breaks) with a guarantee from Stonegate Pub Company Limited, Hops Pub Company Limited and Town & City Pub Group Limited
Annual CPI Rental increases subject to a minimum of 1% and maximum of 4%
Comprising 9,842 sq. ft. (914.35 sq. m.) of Public House accommodation with managers accommodation on the Third floor
Close to the Popular Pentagon Shopping Centre

Lot 10
Auction 21st September 2023
Rent £100,163 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: 10 miles north of Maidstone, 29 miles north-east of Royal Tunbridge Wells, 36 miles south-east of Central London
Roads: A2, M2 (Junction 2 and 3)
Rail: Chatham Railway Station
Air: London Gatwick Airport, London City Airport

Situation

The property is prominently situated on the east side of the pedestrianised Railway Street, close to its junction with Waterfront Way and The Pentagon Shopping Centre where retailers include Superdrug, Boots the Chemist, JD Sports, Timpson, Sainsbury's and Greggs. Other nearby occupiers include Bonmarché, H.Samuel, CeX, Subway and Wilko.

Tenure

Freehold.

Location

Miles: 10 miles north of Maidstone, 29 miles north-east of Royal Tunbridge Wells, 36 miles south-east of Central London
Roads: A2, M2 (Junction 2 and 3)
Rail: Chatham Railway Station
Air: London Gatwick Airport, London City Airport

Situation

Tenure

Freehold.

Description

The property, a prominent and attractive Public House arranged on the ground, first and second floors with a managers flat on the third attic floor. The property benefits from loading to the rear of the property.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Description

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 Attic Level	Public House Storage Public House Ancillary Residential	254.46 205.96 226.96 226.96 3 Bed Flat	(2,739) (2,217) (2,443) (2,443)	BARLEY PUB COMPANY (CRN 06457362) with guarantee from Stonegate Pub Company (CRN FC029833) (1), Hops Pub Company (CRN 06457363) and Town and City Pub Group (CRN 06433242)	For a term of years from 15/12/2004 until 12/11/2044 (3)	£100,163.55	13/11/2023 and annually thereafter (2)
Total		914.34	(9,842)			£100,163.55

(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.