The Burlington 29-33 Burlington Street Chesterfield Derbyshire S40 1RS
The Burlington 29-33 Burlington Street Chesterfield Derbyshire S40 1RS
Freehold Long Let Public House Investment with Annual CPI Increases
Strategic and Prominent Town Centre Location
Entirely let to Hops Pub Company Limited expiring November 2044 (no breaks) with a guarantee from Stonegate Pub Company Limited, Barley Pub Company Limited and Town & City Pub Group Limited
Annual CPI Rental increases subject to a minimum of 1% and maximum of 4%
Comprising approximately 650.32 sq. m. (7,000 sq. ft.) of Public House
Busy mix of bars and restaurants in the immediate vicinity
Freehold Long Let Public House Investment with Annual CPI Increases
Strategic and Prominent Town Centre Location
Entirely let to Hops Pub Company Limited expiring November 2044 (no breaks) with a guarantee from Stonegate Pub Company Limited, Barley Pub Company Limited and Town & City Pub Group Limited
Annual CPI Rental increases subject to a minimum of 1% and maximum of 4%
Comprising approximately 650.32 sq. m. (7,000 sq. ft.) of Public House
Busy mix of bars and restaurants in the immediate vicinity
Lot 21
Auction 21st September 2023
Rent £106,625 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
11 miles south of Sheffield, 24 miles north of Derby
Roads
A61, M1 (Junctions 29 and 30)
Rail
Chesterfield Railway Station
Air
Sheffield City Airport.
Situation
The property is located in the heart of Chesterfields historic town centre and is prominently situated at the busy junction of Burlington Street and Church Way. Nearby occupiers include H. Samuel, Greggs, GAME, The Works and an eclectic mix of bars and restaurants.
Tenure
Freehold.
Location
Miles
11 miles south of Sheffield, 24 miles north of Derby
Roads
A61, M1 (Junctions 29 and 30)
Rail
Chesterfield Railway Station
Air
Sheffield City Airport.
Situation
The property is located in the heart of Chesterfields historic town centre and is prominently situated at the busy junction of Burlington Street and Church Way. Nearby occupiers include H. Samuel, Greggs, GAME, The Works and an eclectic mix of bars and restaurants.
Tenure
Freehold.
Description
29-31 Burlington Street is a Public House arranged over ground and first floors. 33 Burlington Street is currently a newsagent over ground and first floors which has been sub-let (4).
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
See Legal Pack.
Description
29-31 Burlington Street is a Public House arranged over ground and first floors. 33 Burlington Street is currently a newsagent over ground and first floors which has been sub-let (4).
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/First
Public House/Ancillary
650.32
(7,000)
HOPS PUB COMPANY (CRN 06457363) with a guarantee from STONEGATE PUB COMPANY LIMITED (CRN FC029833) (1), BARLEY PUB COMPANY (CRN 06457362) and TOWN AND CITY PUB GROUP LIMITED (CRN 06433242)
A term of years from 25/12/1997 until 12/11/2044 (3)
£106,625.25
13/11/2023 and annually thereafter (2)
Total approximate floor area
650.32
(7,000)
£106,625.25
(1) Following the acquisition of EI Group, Stonegate Pub Company Limited 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. (4) 33 Burlington Street (ground and first floors) are underlet for a term expiring 24/12/2032 for use as a newsagent, further details are available within the legal pack.
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.
