Freehold Long Let Public House Investment with Annual RPI Increases
Prominent Location in Affluent London Commuter Suburb
9 miles (14 km) north-east of the City of London and 8 miles (12 km) north of Canary Wharf
Let to Slug & Lettuce Company Ltd until May 2039 (no breaks) with a guarantee from Stonegate Pub Company Limited
Annual RPI rent increases subject to a 2% and 4% collar and cap
Approximately 5,370 sq. ft. including a 2 bed managers flat
Benefits from 2 outside dining areas
Within 400 yards of South Woodford Underground Station (Central Line)
Occupiers on George Lane include M&S Foodhall, Sainsbury's, Boots, KFC and Greggs
Lot 12
Auction 13th December 2023
Rent £170,892 per Annum Exclusive
Status Sold
Price £1,390,000
Sector Public House
Auction Venue Live Streamed Auction
Property Information
Location
Miles
9 miles north-east of The City of London, 8 miles north of Canary Wharf, 11 miles north east of Central London (Charing Cross)
Roads
A406 (South Circular), M11, A12, A104
Rail
South Woodford Underground Station (Central Line Zone 4)
Air
London City Airport, London Stansted Airport
Situation
South Woodford is a prosperous and popular London commuter suburb in the London Borough of Redbridge. The area benefits from being within 1 mile of the M11 Motorway and A406 (North Circular) junction with direct access to Central London via the A12. London Underground services are from South Woodford Station which is some 400 yards south of the property and provides direct access to Liverpool Street Station via the Central Line with a journey time of 19 minutes.
The property is situated in a prominent position on George Lane which is South Woodford's main retail pitch with occupiers including M&S Foodhall, Sainsbury's (with a circa 300 space car park), Boots, KFC and Greggs.
Tenure
Freehold.
Location
Miles
9 miles north-east of The City of London, 8 miles north of Canary Wharf, 11 miles north east of Central London (Charing Cross)
Roads
A406 (South Circular), M11, A12, A104
Rail
South Woodford Underground Station (Central Line Zone 4)
Air
London City Airport, London Stansted Airport
Situation
South Woodford is a prosperous and popular London commuter suburb in the London Borough of Redbridge. The area benefits from being within 1 mile of the M11 Motorway and A406 (North Circular) junction with direct access to Central London via the A12. London Underground services are from South Woodford Station which is some 400 yards south of the property and provides direct access to Liverpool Street Station via the Central Line with a journey time of 19 minutes.
The property is situated in a prominent position on George Lane which is South Woodford's main retail pitch with occupiers including M&S Foodhall, Sainsbury's (with a circa 300 space car park), Boots, KFC and Greggs.
Tenure
Freehold.
Description
The property comprises a ground floor public house with bar area, kitchen and cellar. Externally the property benefits from a beer terrace to the front and a beer garden to the rear. The first floor comprises customer WC's, ancillary accommodation and a 2 x bedroom manager's flat.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
C64
Description
The property comprises a ground floor public house with bar area, kitchen and cellar. Externally the property benefits from a beer terrace to the front and a beer garden to the rear. The first floor comprises customer WC's, ancillary accommodation and a 2 x bedroom manager's flat.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
C64
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Reviews
Ground First
Public House Ancillary/ Managers Flat
320.60 178.40
(3,450) (1,920)
SLUG & LETTUCE COMPANY LIMITED with a guarantee from STONEGATE PUB COMPANY LIMITED (1)
From 29/07/2005 until 21/05/2039. Annual RPI linked rent increases on 22nd May (2% collar and 4% cap). FR&I.
£170,892
22/05/2024 (Annually thereafter)
Total
499.00
(5,370)
£170,892
(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). The lease is also guaranteed by Town & City Pub Group Limited and Bay Restaurant Group Limited.
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.
