The Wichel Inn 2 Frogden Road, East Wichel Swindon Wiltshire SN1 7AP
The Wichel Inn 2 Frogden Road, East Wichel Swindon Wiltshire SN1 7AP
Freehold Long Let Substantial Public House Investment with RPI Linked Reviews
Let to Marston's PLC until March 2053 (No Breaks) providing 29 years until lease expiry
5 yearly RPI linked rent reviews subject to 1% collar and 4% cap annually compounded
Rent rising to a minimum of £179,493 per annum from 2028 (1% collar compounded annually) and a maximum of £207,782 per annum (4% cap compounded annually)
Substantial Public House of approx. 728.00 sq m (7,836 sq ft)
Site area of approx. 0.84 Acres (0.34 Ha.)
Prominent road side position within residential suburb
Freehold Long Let Substantial Public House Investment with RPI Linked Reviews
Let to Marston's PLC until March 2053 (No Breaks) providing 29 years until lease expiry
5 yearly RPI linked rent reviews subject to 1% collar and 4% cap annually compounded
Rent rising to a minimum of £179,493 per annum from 2028 (1% collar compounded annually) and a maximum of £207,782 per annum (4% cap compounded annually)
Substantial Public House of approx. 728.00 sq m (7,836 sq ft)
Site area of approx. 0.84 Acres (0.34 Ha.)
Prominent road side position within residential suburb
Lot 20
Auction 25th September 2024
Rent £170,782 per Annum Exclusive
Status Available
Guide* £1,250,000 - £1,350,000
Sector Public House
Auction Venue Live Streamed Auction
Property Information
Location
Miles
15 miles south of Cirencester, 39 miles east of Bristol
Roads
A3102, M4
Rail
Swindon Train Station
Air
Bristol Airport
Situation
East Wichel is recently built residential suburb just 1 mile south of Swindon. The property is prominently located on the northern side of Black Horse Way (B4006) at its junction with Langdean Road. The property is well positioned to provide for the wider residential area, being the sole pub in the vicinity.
Tenure
Freehold.
Location
Miles
15 miles south of Cirencester, 39 miles east of Bristol
Roads
A3102, M4
Rail
Swindon Train Station
Air
Bristol Airport
Situation
East Wichel is recently built residential suburb just 1 mile south of Swindon. The property is prominently located on the northern side of Black Horse Way (B4006) at its junction with Langdean Road. The property is well positioned to provide for the wider residential area, being the sole pub in the vicinity.
Tenure
Freehold.
Description
The property comprises a substantial two storey public house of approximately 728.00 sq m (7,836 sq ft) upon a site area of 0.84 Acres with a beer garden and parking for approximately 50 vehicles.
VAT
VAT is applicable to this lot.
Note
Marston's PLC have an option to purchase the Freehold for £1 upon expiry of their occupational lease, subject to certain conditions being satisfied. Please refer to the Option Agreement within the legal pack for full information.
Completion Period
Six week completion
EPC
Band B.
Description
The property comprises a substantial two storey public house of approximately 728.00 sq m (7,836 sq ft) upon a site area of 0.84 Acres with a beer garden and parking for approximately 50 vehicles.
VAT
VAT is applicable to this lot.
Note
Marston's PLC have an option to purchase the Freehold for £1 upon expiry of their occupational lease, subject to certain conditions being satisfied. Please refer to the Option Agreement within the legal pack for full information.
Completion Period
Six week completion
EPC
Band B.
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
728.00
(7,836)
MARSTON'S PLC (1)
40 years from 28/03/2013 until 27/03/2053
£170,782
25/03/2028 and 5 yearly thereafter
Total
728.00
(7,836) (3)
£170,782
(1) Marston’s is a leading UK operator having been part of the British pub landscape for over 180 years, now operating from over 1,400 pubs and employing 11,000 people (www.marstonspubs.co.uk). (2) The 5 yearly rent reviews are linked to RPI uplifts subject to a minimum of 1% and a maximum of 4%. The next review will rise to a minimum of £179,493 per annum in applying a 1.00% per annum compound and a maximum of £207,782 per annum in applying a 4% per annum compound. (3) The floor areas stated above are those provided by the EPC.
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.
