The Apple Cart Bellona Drive Peterborough Cambridgeshire PE2 8GP
The Apple Cart Bellona Drive Peterborough Cambridgeshire PE2 8GP
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 annually compounded rent reviews subject to 1% collar and 4% cap
Rent rising to a minimum of £172,314 per annum from 2028 (1% collar compounded annually) and a maximum of £199,471 per annum (4% cap compounded annually)
Substantial Public House of approx. 672.00 sq m (7,233 sq ft)
Site area of approx. 0.40 Acres
Prominent road side position within major residential scheme
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 annually compounded rent reviews subject to 1% collar and 4% cap
Rent rising to a minimum of £172,314 per annum from 2028 (1% collar compounded annually) and a maximum of £199,471 per annum (4% cap compounded annually)
Substantial Public House of approx. 672.00 sq m (7,233 sq ft)
Site area of approx. 0.40 Acres
Prominent road side position within major residential scheme
Lot 21
Auction 25th September 2024
Rent £163,951 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Public House
Auction Venue Live Streamed Auction
On Behalf of a Major Fund
Property Information
Location
Miles
29 miles north of Cambridge, 37 miles east of Leicester, 41 miles north-east of Northampton, 75 miles north of London
Roads
A15, A1139, A47, A1(M) Junction 17
Rail
Peterborough Railway Station
Air
London Stansted Airport, London Luton Airport
Situation
The property is prominently located at the junction of Bellona Drive, Apollo Avenue and Jupiter Avenue, situated within a newly built, high density residential neighbourhood as well as being adjacent to a Morrisons Superstore. The property is conveniently positioned to provide for the local residents being the sole public house in the area. A 550,000 sq. ft. Amazon distribution warehouse, EUK5, is 1 mile to the west of the property.
Tenure
Freehold.
Location
Miles
29 miles north of Cambridge, 37 miles east of Leicester, 41 miles north-east of Northampton, 75 miles north of London
Roads
A15, A1139, A47, A1(M) Junction 17
Rail
Peterborough Railway Station
Air
London Stansted Airport, London Luton Airport
Situation
The property is prominently located at the junction of Bellona Drive, Apollo Avenue and Jupiter Avenue, situated within a newly built, high density residential neighbourhood as well as being adjacent to a Morrisons Superstore. The property is conveniently positioned to provide for the local residents being the sole public house in the area. A 550,000 sq. ft. Amazon distribution warehouse, EUK5, is 1 mile to the west of the property.
Tenure
Freehold.
Description
The property comprises a substantial two storey public house of approximately 672.00 sq m (7,233 sq ft) upon a site of 0.40 Acres.
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 672.00 sq m (7,233 sq ft) upon a site of 0.40 Acres.
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
672.00
(7,233)
MARSTON'S PLC (1)
40 years from 28/03/2013 until 27/03/2053
£163,951
25/03/2028 and 5 yearly thereafter (2)
Total
672.00
(7,233) (3)
£163,951
(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 £172,314 per annum in applying a 1% per annum compound and a maximum of £199,471 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.
