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

Lot
21
Auction
21st September 2023
Rent
£106,625 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction
On Behalf of a Major Fund

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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

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.