A portfolio of 34 public houses for sale Contents
Executive Summary 3
Property Schedule & Locations 4
Background to the Portfolio 5
Market Sector Overview 7
The Opportunity & Expressions of Interest 9
Further Information & Disclaimer 10
Individual Property Details 11
2 Executive Summary
CBRE have been appointed by JD Wetherspoon plc to handle the sale of 34 public houses which have been identified for disposal and brought to the market for the first time in many years. The properties, which are being considered for sale either as a portfolio, in small packages or individually, are located in major town and city centre locations within England, Scotland and Wales. Highlights include:
27 freehold/long leasehold Excellent town and city centre High volume outlets Strong food element and 7 leasehold outlets locations on established generating total net sales in representing 34% of turnover A3/A4 circuits. excess of £38 million in 2014/15
Of interest to existing Average net turnover per Large sites which have a very Landmark character buildings operators, new entrants, pub of £22,273 per week high standard of fit out investors and developers
3 Property Schedule & Locations
REF PUB NAME ADDRESS TOWN POSTCODE STATUS TENURE 1 Banker's Draft 115-117 High Street Bedford MK40 1NU Under Offer Freehold 2 Auctioneer 235-237 Lytham Road Blackpool FY1 6ET Under Offer Freehold 3 Sir Thomas Mildmay 77 French's Walk Chelmsford CM2 6QR Withdrawn Leasehold 4 Forest House 1 Love Street Chester CH1 1QY Under Offer Freehold 5 Thomas Leaper 27 Iron Gate Derby DE1 3GL Available Leasehold 6 Milson Rhodes 1d School Lane Didsbury M20 6RD Withdrawn Leasehold 7 Old Angel Cleveland Street Doncaster DN1 3EF Available Freehold 8 Capitol 7-9 Seagate Dundee DD1 2EG Available Heritable 9 Picture Palace Lincoln Road Enfield EN3 4AQ Under Offer Long Leasehold 10 Society Room 151 West George Street Glasgow G2 2JJ Available Leasehold 11 Water Poet 61-63 Eastgate Street Gloucester GL1 1PN Under Offer Freehold 8 12 Earl of Zetland Bo'Ness Road Grangemouth FK3 8AF Under Offer Heritable 29 2 13 Plough and Harrow 120-124 King Street Hammersmith W6 0QU Available Leasehold 10 17 14 Red Lion 2 Derby Road Heanor DE75 7QG Under Offer Freehold 15 Zachariah Pearson 386 Beverley Road Hull HU5 1LN Available Freehold 16 Lattice House Chapel Street King's Lynn PE30 1EG Available Long Leasehold 17 Clydesdale Inn 15 Bloomgate Lanark ML11 9ET Under Offer Heritable 18 Lime Kiln 1 Fleet Street Liverpool L1 4AN Withdrawn Long Leasehold 19 Twitchel Inn Howitt Street Long Eaton NG10 1ED Under Offer Freehold 20 Courthouse Marketplace Mansfield NG18 1HX Under Offer Long Leasehold 1515 6 21 Secklow Hundred 316 Midsummer Boulevard Milton Keynes MK9 1EA Under Offer Leasehold 33 25 7 22 John Capel Hanbury 130-131 Osborne Road Pontypool NP4 6LT Under Offer Long Leasehold 4 26 7 23 Trafalgar 16 Edinburgh Road Portsmouth PO1 1DE Available Freehold 14 5 19 24 Rocket Brewhouse Lane Putney SW15 2JQ Withdrawn Leasehold 16 27 25 Corn Law Rymer 35-37 High St Rotherham S60 1PT Under Offer Freehold 1 26 Swim Inn 217-231 Glossop Road Sheffield S10 2GW Under Offer Long Leasehold 22 21 11 3 27 Edward Rutland 77-78 High Street Stourbridge DY8 1DX Under Offer Freehold 2 30 9 28 Ye Old Crown Inn 9 Bridge St Stourport-on- DY13 8XB Under Offer Freehold 31 13 24 Severn 29 Pub & Hotel Site 43-51 King Street Stirling FK8 1DN Available Heritable 23 34 30 Groves Company Inn 22-23 Fleet St Swindon SN1 1RQ Available Freehold 31 Albany Palace 1 Park Rd Trowbridge BA14 0AT Available Freehold 32 Dee Hotel 44 Grange Rd West Kirby CH48 4EF Under Offer Freehold 33 Bollin Fee 6-12 Swan St Wilmslow SK9 1HE Under Offer Freehold 34 Sir Timothy Shelley 49 Chapel Rd Worthing BN11 1EG4 Available Freehold Background to the Portfolio
The portfolio consists of 34 properties all of which are situated in town or city centre locations. Of the 34 outlets, 27 (79%) are owned* either freehold or held on a long lease at a nominal rent with the remaining 7 outlets held on standard commercial leases with an average unexpired term of more than 18 years. JD Wetherspoon have always been renowned for the strong level of investment that they commit to their venues and this portfolio is typical of their broader estate with the pubs being very well presented and fitted to a high standard. The properties which trade under the JD Wetherspoon and Lloyds No.1 trading formats also tend to be some of the largest pubs in their towns with an average total GIA (Gross Internal Area) of approximately 8,900 sq ft and an average ground floor GIA of 4,850 sq ft. All of the properties have the benefit of a late licence and a number also benefit from external seating areas. The performance of the pubs has been particularly impressive with total sales increasing annually in each of the last five years to their current level in 2014/15 of £38.22 million, reflecting average net weekly sales of £22,273**. This compares favourably with the estates of a number of the other leading pub groups.
NUMBER OF PUBS TURNOVER PER PUB OPERATOR AT YEAR END (WEEKLY NET)
Mitchells & Butlers (inc Orchid) 1,775 £23,000
Marston's (Managed) 372 £20,000
Greene King (Managed) 1,060 £18,000
Spirit Pub Company (now part of Greene King) 774 £18,000
Stonegate Pub Co (excluding Maclay & TCG) 623 £17,000
Source: Company statements, CBRE rounding
*The vendor has exchanged unconditional contracts to acquire the properties in Doncaster and Rotherham but has not yet completed the purchases so the completion of these operational sales will need to be delayed until April 2016
**Based on the 33 operational sites at the time of sale
5 Background to the Portfolio
Strong growth in food sales During the last five years there has been considerable growth in food sales in the estate which have increased by more than 40% and now represent more than one third of total turnover. With eating outside of the home expected to increase by a further 16% to £38.9 billion by 2019 (Source: Mintel), the properties are ideally positioned to benefit from this anticipated growth. The outlets have extensive kitchen facilities and particularly impressive food hygiene ratings with those properties in England and Wales which are given a Food Standard Agency rating averaging 4.9 out of 5. A number of the pubs feature in the CAMRA Good Beer Guide and benefit from the Cask Marque accreditation.
TOTAL SALES AND FOOD SALES 2010-2015
£40,000,000 £35,000,000 £30,000,000 £25,000,000 £20,000,000 £15,000,000 £10,000,000
£5,000,000 26% 27% 29% 32% 34% £0 2010/11 2011/12 2012/13 2013/14 2014/15 Source: JD Wetherspoon Total Sales Food Sales
6 Market Sector Overview
The managed house sector continues to stimulate interest from a broad range of existing operators, investors and new entrants Whilst the number of pubs trading in the UK has declined in recent years to around 51,900 in 2014 (Source: BBPA) only a small proportion of those which have closed have been managed houses. Managed outlets have always generated the highest turnover and unit profit returns in the sector and have also been better placed to adapt to changing trends and new legislation which has increased the significance of being able to provide a strong food offer. The vast majority of new pubs that have opened in recent years have been large managed outlets with the likes of JD Wetherspoon, Greene King, Marston’s and Mitchells & Butlers leading the way in either building new pubs or converting other commercial buildings into large managed venues. Increased transactional activity Transactional activity in the managed sector has been restricted by the availability of stock in the market, although there have been several transactions of note in the last two years. Court House, Mansfield In May 2014 the Amber Taverns estate of 95 managed pubs located throughout the Midlands and the north of England were acquired by MxP Partners for £85 million (£894,000 per site). At the time their most recently published accounts were for the year ending February 2014 where their 93 pubs were generating average weekly sales of £8,000 per week (Source: Company Accounts/CBRE Estimate). These pubs, which don’t tend to offer food and are typically smaller than those operated by JD Wetherspoon, are all located in town centre positions. This was followed a month later by Mitchells and Butlers announcing their acquisition of 173 managed pubs from Orchid, of which 158 were held freehold or long leasehold, along with the head office, for £266 million (£1.53 million per site). At the time of acquisition the average weekly sales of these outlets was just over £15,000 per week (Source: Company Statement/CBRE Estimate). The company has since been investing across the estate converting the properties into their established brands. More recently in June 2015 Greene King completed the acquisition of the Spirit Pub Company for a total consideration of £774 million*** which added a further 1,227 properties to their estate creating a combined business of 3,100 pubs. As a result of this takeover Greene King were required to sell 16 outlets, 10 of which were managed outlets Albany Palace, Trowbridge and were sold to Star Pubs & Bars, Marston’s and Hall & Woodhouse.
*** Based on Greene King shares at the time of initial offer
7 Market Sector Overview
Stonegate Pub Company, the owner of the Slug & Lettuce, Yates and Missoula brands, have also been aggressively growing their estate of primarily town centre venues. Having completed the purchase of 78 former Bramwell outlets in November 2013, the company acquired the 15 strong Maclay portfolio in Scotland for £13.5 million (£1.11 million per site) in June 2015. This was followed in September 2015 by the acquisition of 53 managed house units from Tattershall Castle Group for an undisclosed sum. Strong investor sentiment The investment market has also seen an upturn in activity in the last two years as investors have shown an increasing appetite for the sector. Cerberus acquired two large portfolios of predominantly managed pubs let to the Spirit Pub Company (now part of Greene King) and Punch Taverns and managed operators including Stonegate and Marston’s have undertaken comprehensive sale and leaseback programmes. The strong investor sentiment towards the sector has led to a sharpening in yields as can be seen from the latest CBRE yield tracker. CBRE UK PUB YIELD TRACKER Q3 2015 Lime Kiln, Liverpool
Twitchel Inn, Long Eaton The increased activity in both the operational and investment markets underlines the strength of the pub sector at the current time.
8 The Opportunity & Expressions of Interest
THE OPPORTUNITY The portfolio represents an extremely rare opportunity to acquire a portfolio of high All individual property enquiries should be directed to the relevant CBRE office, details volume managed houses that have a strong freehold/long leasehold mix and a high of which are provided on the individual property details. For all group enquiries proportion of food sales. please contact: This should appeal to existing operators looking to expand, to new entrants looking for a major platform which can be used to build a successful managed house estate and to Paul Breen Toby Hall Andrew Watt investors keen to gain further representation in the sector. Senior Director Senior Director Senior Director CBRE London CBRE London CBRE Leeds Our clients are willing to consider offers for the entire portfolio, groups of properties or Tel: 020 7182 2398 Tel: 020 7182 2259 Tel: 0113 394 8819 individual units. They also may be prepared to consider granting occupational leases in Mob: 07767 873353 Mob: 07785 253055 Mob: 07778 149230 certain instances on those units which are held freehold or long leasehold, subject Email: [email protected] Email: [email protected] Email: [email protected] to status. EXPRESSIONS OF INTEREST All offers should be submitted in writing, sent via email and contain the following information: • The name of the proposed purchaser and any relevant background information • The name(s) of the property/properties which are of interest • The price being offered exclusive of VAT • Whether the offer is inclusive of fixtures and fittings • Proposed timetable for exchange of contracts and completion of the transaction • Any conditions attached to the offer • Proof of funding • Solicitor’s details Please note that our clients are not obliged to accept the highest offer or any offer submitted for the properties.
9 Further Information & Disclaimer
VIEWING ARRANGEMENTS DISCLAIMER: CBRE LIMITED Interested parties are asked to undertake discreet customer visits in the first instance. All CBRE Limited on its behalf and for the Vendors or Lessors of this property who’s Agents formal viewings must be arranged by prior appointment via CBRE and under no they are, give notice that: circumstances should any direct approach be made to any of our client’s staff. 1. These particulars are set out as a general outline only for guidance to intending DATA SITE Purchasers or Lessees, and do not constitute any part of an offer or contract 2. Details are given without any responsibility and any intending Purchasers, Lessees or A data site which includes legal and title documentation, premises licences, licensing Third Parties should not rely on them as statements or representations of fact, but must drawings and asbestos registers is available at www.jdwdisposals.com. satisfy themselves by inspection or otherwise as to the correctness of each of them STAFF 3. No person in the employment of CBRE Limited has any authority to make any representation or warranty whatsoever in relation to this property Staff will be transferred with the pubs upon completion in accordance with the TUPE regulations. 4. Unless otherwise stated, all prices and rents are quoted exclusive of VAT The material provided by us is intended for the sole use of the person or firm to whom it is FIXTURES AND FITTINGS provided. Any reproduction or distribution of this overview, in whole or in part, or the All fixtures and fittings with the exception of leased and branded items are available to be disclosure of its contents, without our prior written consent is prohibited. included within the sale. Nothing in this document constitutes valuation, accounting, legal, regulatory, planning, tax or other advice. IMPORTANT INFORMATION CBRE Limited do not accept any responsibility to any person for the consequences of any Trading Information person placing reliance on the content of this information for any purpose. The information contained in this document, including any data, projections, and underlying assumptions Although outline trading information has been made available, the information provided is has not been independently verified and are based upon certain assumptions, and unaudited and is for information purposes only. No trade will be sold or warranted. Sales analysis of information available as at the date of this document, and reflects prevailing figures are net of VAT. conditions, and our views as of the date of the document, all of which are accordingly Approximate Floor & Site Areas subject to change at any time without notice, and we are not under any obligation to notify you of any of these changes. Approximate floor areas for each property are based on advice previously provided to the Vendor. Site areas have not been measured on site but have been calculated from Originally prepared November 2015 and updated in January 2016. Promap. All areas are for information purposes only and have not been independently verified by CBRE. Interested parties are not entitled to rely upon these areas and any purchaser should undertake their own independent measured surveys to verify this information prior to exchange of contracts. Location and Ordnance Survey Plans Ordnance Survey/Promap © Crown Copyright. All rights reserved. CBRE Ordnance Survey Licence Number: 100019184 Experian Goad Digital Plans include mapping data licensed from Ordnance Survey with the permission of the Controller of Her Majesty's Stationery Office. © Crown Copyright and Experian Copyright. All rights reserved. Licence number PU 100017316. 10
Individual Property Details
1. Bedford - Banker's Draft - Under Offer 19. Long Eaton - Twitchel Inn - Under Offer 2. Blackpool – Auctioneer – Under Offer 20. Mansfield – Courthouse - Under Offer 3. Chelmsford - Sir Thomas Mildmay - 21. Milton Keynes - Secklow Hundred - Under Offer Withdrawn 22. Pontypool - John Capel Hanbury - Under Offer 4. Chester - Forest House – Under Offer 23. Portsmouth – Trafalgar - Available 5. Derby - Thomas Leaper - Available 24. Putney – Rocket - Withdrawn 6. Didsbury - Milson Rhodes - Withdrawn 25. Rotherham - Corn Law Rymer - Under Offer 7. Doncaster - Old Angel - Available 26. Sheffield - Swim Inn - Under Offer 8. Dundee – Capitol - Available 27. Stourbridge - Edward Rutland - Under Offer 9. Enfield - Picture Palace - Under Offer 28. Stourport-on-Severn – Ye Old Crown Inn - Under 10. Glasgow - Society Room – Available Offer 11. Gloucester - Water Poet - Under Offer 29. Stirling - 43-51 King Street - Available 12. Grangemouth - Earl of Zetland - Under Offer 30. Swindon - Groves Company Inn - Available 13. Hammersmith – Plough and Harrow - 31. Trowbridge - Albany Palace - Available Available 32. West Kirby - Dee Hotel - Under Offer 14. Heanor - Red Lion - Under Offer 33. Wimslow - Bollin Fee - Under Offer 15. Hull - Zachariah Pearson - Available 34. Worthing - Sir Timothy Shelley - Available 16. King’s Lynn - Lattice House - Available
17. Lanark - Clydesdale Inn - Under Offer
18. Liverpool - Lime Kiln - Withdrawn
11 5. Thomas Leaper, 27 Iron Gate, Derby DE1 3GL
SUMMARY
Tenure Leasehold
Current Rent & Lease Expiry £72,563 per annum & 9th June 2039
AWT 2014/15 (net) £27,240 per week
Ground Floor GIA (approx.) 332 sq m (3,571 sq ft)
NET SALES 2010/11 2011/12 2012/13 2013/14 2014/15
Wet £772,423 £886,894 £976,748 £1,004,422 £996,644
Dry £372,202 £366,313 £360,681 £364,521 £382,145
Mach/Other £36,895 £36,497 £41,679 £35,557 £37,685
Total £1,181,520 £1,289,703 £1,379,108 £1,404,499 £1,416,475
Location Description & Accommodation
Derby is a busy city that is located 15 miles west of Nottingham and 30 miles north west A substantial semi-detached property which is of stone and brick construction under a of Leicester. pitched roof. Ground Floor The Thomas Leaper occupies a prominent position on Iron Gate and is in close Trading accommodation with bar servery to one side and laid out with a variety of proximity to Derby Cathedral. Occupiers nearby include The Standing Order and tables and seating. Customer WC's are also provided at this level. Walkabout. Basement
Cellar and stores. Upper Floors Additional trading accommodation at first floor with bar servery and customer WC's. Also at this level is a catering kitchen, wash room and stores.
C 5. Thomas Leaper, 27 Iron Gate, Derby DE1 3GL
Floor Areas
The property has the following approximate gross internal areas:
FLOOR DESCRIPTION SQ.M SQ.FT
Ground Trading 332 3,571
First Trading / Ancillary 332 3,571
Basement Ancillary 48 514
Total 712 7,656
Tenure Held on a lease expiring 9 June 2039 at a current rent of £72,563 per annum subject to an outstanding upwards only rent review on 10 June 2014 and five yearly thereafter. The property has a tenant only break clause on 10 June 2024.
Rateable Value, EPC & Food Hygiene Rating 2010 Rateable Value - £90,000 EPC rating - E Food Standards Agency Food Hygiene Rating - 5
Premises Licence Contacts The property benefits from a premises licence permitting the sale of alcohol until Andrew Watt James Brindley 1.00am Sunday to Wednesday and 2.00am Thursday to Saturday. Tel: 0113 394 8819 Tel: 0113 394 8771 Mob: 07778 149 230 Mob: 07341 661 699 [email protected] [email protected]
C 7. Old Angel, Cleveland Street, Doncaster DN1 3EF
SUMMARY
Tenure Freehold*
Site Area (approx.) 469 sq m (5,048 sq ft)
AWT 2014/15 (net) £24,329 per week
Ground Floor GIA (approx.) 380 sq m (4,095 sq ft)
NET SALES 2010/11 2011/12 2012/13 2013/14 2014/15
Wet £593,555 £583,744 £663,203 £769,582 £883,952
Dry £146,512 £163,437 £203,561 £253,124 £337,716
Mach/Other £35,850 £33,100 £35,259 £39,285 £43,464
Total £775,917 £780,281 £902,023 £1,061,990 £1,265,131
Location Description & Accommodation
Doncaster is a densely populated market town that is located 22 miles north east of A substantial semi-detached property which is of brick construction under a slate Sheffield and 36 miles south of Leeds. pitched roof. Ground Floor The Old Angel occupies a corner position on Cleveland Street off High Street. Trading accommodation with bar servery to one side and laid out with a variety of Occupiers nearby include The St Leger Tavern and The Gate House bar. tables and seating. Disabled WC. Basement Cellar and stores. Upper Floors Booth seating areas are provided at first floor level in addition to customer WC's.
*The vendor has exchanged unconditional contracts to acquire the freehold interest in the property but has not yet completed the purchase so the completion of the operational sale will need to be delayed until April 2016 C 7. Old Angel, Cleveland Street, Doncaster DN1 3EF
Floor Areas
The property has the following approximate gross internal areas:
FLOOR DESCRIPTION SQ.M SQ.FT
Ground Trading 380 4,095
First Trading & Ancillary 156 1,679
Total 536 5,774
Tenure
Freehold. Please note that the vendor has exchanged unconditional contracts to acquire the freehold interest in the property but has not yet completed the purchase so the completion of the operational sale will need to be delayed until April 2016.
Rateable Value, EPC & Food Hygiene Rating
2010 Rateable Value - £95,000 EPC rating - E Food Standards Agency Food Hygiene Rating - 5
Premises Licence Contacts The property benefits from a premises licence permitting the sale of alcohol until Andrew Watt James Brindley 12.30am Sunday, midnight Monday and Wednesday and 2am on Tuesday, Thursday, Tel: 0113 394 8819 Tel: 0113 394 8771 Friday and Saturday. Mob: 07778 149 230 Mob: 07341 661 699 [email protected] [email protected] C 8. Capitol, 7-9 Seagate, Dundee DD1 2EG
SUMMARY
Tenure Heritable
Site Area (approx.) 473 sq m (5,091 sq ft)
AWT 2014/15 (net) £21,579 per week
Ground Floor GIA (approx.) 407 sq m (4,381 sq ft)
NET SALES 2010/11 2011/12 2012/13 2013/14 2014/15
Wet £751,890 £819,882 £792,137 £694,503 £679,160
Dry £450,141 £437,365 £424,326 £402,130 £398,848
Mach/Other £43,009 £41,098 £42,715 £41,198 £44,091
Total £1,245,039 £1,298,345 £1,259,178 £1,137,831 £1,122,099
Location Description & Accommodation
Dundee is Scotland's fourth largest city, located 63 miles north of Edinburgh and 65 A substantial corner property which is of stone construction under a pitched roof. miles south of Aberdeen. Ground Floor Trading accommodation at lower ground floor comprising a variety of seating. The The Capitol occupies a prominent corner position on the east side of Seagate, at the upper ground floor has a linear bar servery, a variety of seating and bottle store. junction with Gellatly Street and to the north of the junction with Commercial Street. The Disabled WC. location forms part of an established leisure pitch in the City Centre with occupiers nearby including Cask & Cork and Tickety Boo's. Upper Floors At mezzanine level is the staff room. At first floor there is further customer seating and
customer WC's, along with catering kitchen, beer cellar and office.
C 8. Capitol, 7-9 Seagate, Dundee DD1 2EG
Floor Areas
The property has the following approximate gross internal areas:
FLOOR DESCRIPTION SQ.M SQ.FT
Ground Trading 407 4,381
First Ancillary 368 3,961
Total 775 8,342
Tenure
Heritable
Rateable Value, EPC & Food Hygiene Rating 2010 Rateable Value - £85,000 EPC rating - G Food Standards Agency Food Hygiene Rating - Pass
Premises Licence Contacts The property benefits from a premises licence permitting the sale of alcohol until Euan McGonigle Kathryn Bennett midnight Sunday to Wednesday and 2.30am Thursday to Saturday. Tel: 0141 204 7767 Tel: 0141 204 7745 Mob: 07818 027 711 Mob: 07982 717 979 [email protected] [email protected]
C 10. Society Rooms, 151 West George Street, Glasgow G2 2JJ
SUMMARY
Tenure Leasehold
Current Rent & Lease Expiry £218,025 per annum & 6th January 2037
AWT 2014/15 (net) £36,436 per week
Ground Floor GIA (approx.) 723 sq m (7,780 sq ft)
NET SALES 2010/11 2011/12 2012/13 2013/14 2014/15
Wet £1,727,514 £1,765,196 £1,708,781 £1,563,359 £1,428,001
Dry £360,999 £343,305 £362,561 £391,615 £430,818
Mach/Other £45,891 £47,364 £42,745 £41,298 £35,878
Total £2,134,404 £2,155,865 £2,114,087 £1,996,272 £1,894,697
Location Description & Accommodation
Glasgow is Scotland's largest city, benefitting from a retail and leisure catchment of in A substantial mid terrace property which is of stone construction. The public house excess of 2 million people within a 20 minute drive time occupies the ground floor and basement of a 5 storey building, the upper parts of which consist of offices. The Society Room occupies a prominent mid terrace position on the south side of West Ground Floor George Street between the junctions with Hope Street and Renfield Street, in Glasgow's Trading accommodation with curved bar servery to one side and laid out with a variety Central Business District. Occupiers nearby include The Merchant, Blue Dog and La of tables and seating. Disabled WC. Extensive catering kitchen. Tasca. Basement
Cellar, stores, plant room, staff room and customer WC's.
C 10. Society Rooms, 151 West George Street, Glasgow G2 2JJ
Floor Areas
The property has the following approximate gross internal areas:
FLOOR DESCRIPTION SQ.M SQ.FT
Ground Trading and Ancillary 723 7,780
Basement Ancillary 260 2,800
Total 983 10,580
Tenure Held on a lease expiring 6 January 2037 at a current rent of £218,025 per annum subject to an upwards only rent review on 7 January 2017 and five yearly thereafter. The property has a tenant only break clause on 7 January 2022.
Rateable Value & EPC 2010 Rateable Value - £175,000 EPC rating - G Food Standards Agency Food Hygiene Rating - Pass
Premises Licence Contacts
The property benefits from a premises licence permitting the sale of alcohol until Euan McGonigle Kathryn Bennett midnight Monday to Sunday. Tel: 0141 204 7767 Tel: 0141 204 7745 Mob: 07818 027 711 Mob: 07982 717 979 [email protected] [email protected] C 13. Plough and Harrow, 120-124 King Street, Hammersmith W6 0QU
SUMMARY
Tenure Leasehold
Current Rent & Lease Expiry £169,500 per annum & 23rd June 2036
AWT 2014/15 (net) £27,028 per week
Ground Floor GIA (approx.) 595 sq m (6,404 sq ft)
NET SALES 2010/11 2011/12 2012/13 2013/14 2014/15
Wet £790,989 £839,263 £833,744 £840,314 £863,055
Dry £399,487 £422,581 £461,165 £494,868 £519,257
Mach/Other £26,486 £26,397 £22,593 £28,293 £23,156
Total £1,216,962 £1,288,241 £1,317,502 £1,363,476 £1,405,468
Location Description & Accommodation
Hammersmith is an affluent and densely populated suburb 5 miles west of Central A substantial corner property which is of brick construction. The public house occupies London, to the north of Fulham and east of Chiswick. the ground floor and basement of a three storey building, the upper parts of which consist of a Holiday Inn Express hotel. The Plough & Harrow occupies a prominent corner position on the A315 King Street, Ground Floor directly opposite the junction with Macbeth Street. Trading accommodation with bar servery to one side and a variety of tables and seating. Customer WC's and a catering kitchen are also provided at this level.
Basement Cellar and stores.
C 13. Plough and Harrow, 120-124 King Street, Hammersmith W6 0QU
Floor Areas
The property has the following approximate gross internal areas:
FLOOR DESCRIPTION SQ.M SQ.FT
Ground Trading and Ancillary 595 6,404
Basement Ancillary 48 517
Total 643 6,921
Tenure Held on a lease expiring 23 June 2036 at a current rent of £169,500 per annum subject to an outstanding upwards only rent review on 24 June 2011 and five yearly thereafter. The property has a tenant only break clause on 24 June 2026.
Rateable Value, EPC & Food Hygiene Rating 2010 Rateable Value - £115,000 EPC rating - G Food Standards Agency Food Hygiene Rating - 5
Premises Licence Contacts The property benefits from a premises licence permitting the sale of alcohol until Paul Breen David Muslin Midnight Monday to Sunday. Tel: 0207182 2398 Tel: 020 7182 2524 Mob: 07767 873353 Mob: 07766 733 718 [email protected] [email protected]
C 15. Zachariah Pearson, 386 Beverley Road, Hull HU5 1LN
SUMMARY
Tenure Freehold
Site Area (approx.) 1,821 sq m (19,601 sq ft)
AWT 2014/15 (net) £19,460 per week
Ground Floor GIA (approx.) 310 sq m (3,340 sq ft)
NET SALES 2010/11 2011/12 2012/13 2013/14 2014/15
Wet £428,580 £406,758 £489,876 £536,554 £544,056
Dry £296,759 £277,583 £316,725 £370,507 £435,248
Mach/Other £42,234 £30,483 £35,385 £31,230 £32,594
Total £767,572 £714,825 £841,987 £938,291 £1,011,899
Location Description & Accommodation
Kingston upon Hull is a busy city that is located 37 miles south east of York and 55 miles A substantial semi-detached property which is of brick construction under a slate east of Leeds. pitched roof. Externally there is a beer terrace to the front. Ground Floor The Zachariah Pearson occupies a busy position on Beverley Road. Occupiers nearby Trading accommodation with bar servery to one side and laid out with a variety of include The Sleepers bar and The Bevvy bar. tables and seating. Disabled WC.
Basement Cellar and stores. Upper Floors At first floor are the customer WC's and catering kitchen.
C 15. Zachariah Pearson, 386 Beverley Road, Hull HU5 1LN
Floor Areas
The property has the following approximate gross internal areas:
FLOOR DESCRIPTION SQ.M SQ.FT
Ground Trading 310 3,340
First Ancillary 66 715
Total 376 4,055
Tenure
Freehold
Rateable Value, EPC & Food Hygiene Rating 2010 Rateable Value - £65,000 EPC rating – G Food Standards Agency Food Hygiene Rating - 5
Premises Licence Contacts The property benefits from a premises licence permitting the sale of alcohol until Andrew Watt James Brindley 12.30am Sunday to Thursday and 2am on Friday and Saturday. Tel: 0113 394 8819 Tel: 0113 394 8771 Mob: 07778 149 230 Mob: 07341 661 699 [email protected] [email protected] C 16. Lattice House, Chapel St, King's Lynn PE30 1EG
SUMMARY
Tenure Long Leasehold
Current Rent & Lease Expiry £100 per annum & 27th June 2107
AWT 2014/15 (net) £20,048 per week
Ground Floor GIA (approx.) 356 sq m (3,839 sq ft)
NET SALES 2010/11 2011/12 2012/13 2013/14 2014/15
Wet £555,482 £530,694 £571,214 £620,610 £644,401
Dry £291,355 £299,276 £334,432 £362,451 £374,069
Mach/Other £27,890 £24,969 £24,013 £28,971 £24,044
Total £874,727 £854,939 £929,659 £1,012,032 £1,042,514
Location Description & Accommodation
Kings Lynn is a thriving town that is located 49 miles west of Norwich and 44 miles north A substantial detached property which is of brick construction with part painted and of Cambridge. rendered elevations under a pitched roof. Externally there is a beer terrace to the rear. Ground Floor The Lattice House occupies a prominent position on Chapel Street next to its junction Trading accommodation with central bar servery and laid out with a variety of tables with Market Lane and close to Market Place. Occupiers nearby include Nandos, Prezzo, and seating. Customer WC's and a catering kitchen are also provided at this level. Café Nero, Tudor Rose Hotel, The Duke's Head and The Maids Head. Upper Floors
Additional trading accommodation at first floor with ancillary staff facilities.
C 16. Lattice House, Chapel St, King's Lynn PE30 1EG
Floor Areas
The property has the following approximate gross internal areas:
FLOOR DESCRIPTION SQ.M SQ.FT
Ground Trading and Ancillary 356 3,839
First Trading and Ancillary 230 2,476
Total 587 6,315
Tenure
Held on a Long Leasehold expiring 27 June 2107 at a rent of £100 per annum.
Rateable Value, EPC & Food Hygiene Rating 2010 Rateable Value - £42,000 EPC rating - D Food Standards Agency Food Hygiene Rating - 4
Premises Licence Contacts The property benefits from a premises licence permitting the sale of alcohol until Paul Breen Joseph Skinner 12:30am Sunday to Thursday and 1.00am Friday and Saturday. Tel: 020 7182 2398 Tel: 020 3257 6187 Mob: 07767 873 353 Mob: 07814 727 811 [email protected] [email protected]
C 23. Trafalgar, Trafalgar House, 16 Edinburgh Road, Portsmouth PO1 1DE
SUMMARY
Tenure Freehold
Site Area (approx.) 975 sq m (10,494 sq ft)
AWT 2014/15 (net) £30,424 per week
Ground Floor GIA (approx.) 740 sq m (7,965 sq ft)
NET SALES 2010/11 2011/12 2012/13 2013/14 2014/15
Wet £1,194,026 £1,079,616 £875,135 £765,990 £673,952
Dry £613,005 £613,416 £656,115 £766,819 £842,832
Mach/Other £82,462 £77,469 £81,479 £79,331 £65,289
Total £1,889,493 £1,770,501 £1,612,729 £1,612,141 £1,582,072 Location Description & Accommodation Portsmouth is a popular and densely populated town that is located approximately 19 A substantial mid terraced property which is of brick construction with painted and miles south east of Southampton and 64 miles south west of London rendered elevations under a pitched roof. Ground Floor The Trafalgar occupies a prominent position on Edinburgh Road at its junction with Trading accommodation with central bar servery to one side and laid out with a variety Stanhope Road and Unicorn Road and close to Cascades Shopping Centre. Occupiers of tables and seating. Disabled WC and a catering kitchen are also provided at this within Cascades include M&S, Next and Primark. level.
Basement Cellar and stores.
Upper Floors Further trading accommodation at first floor with additional bar servery with a variety of tables and seating areas. Customer WC's, beer cellar, managers office and staff room are also provided at this level. The vacant second, third and fourth floors are let on a 999 year lease. C 23. Trafalgar, Trafalgar House, 16 Edinburgh Road, Portsmouth PO1 1DE
Floor Areas
The property has the following approximate gross internal areas:
FLOOR DESCRIPTION SQ.M SQ.FT
Ground Trading 740 7,965
First Ancillary 744 8,013
Second Ancillary 743 8,002
Total 2,228 23,980
Tenure
Freehold. The second, third and fourth floors of the building in addition to access provided via staircases at ground and first floors levels are let on a 999 year lease at a rent of £300 per annum.
Rateable Value, EPC & Food Hygiene Rating 2010 Rateable Value - £192,500 EPC rating - E Food Standards Agency Food Hygiene Rating - 5
Premises Licence Contacts The property benefits from a premises licence permitting the sale of alcohol until Paul Breen Joseph Skinner 2.00am Monday to Sunday Tel: 020 7182 2398 Tel: 020 3257 6187 Mob: 07767 873 353 Mob: 07814 727 811 [email protected] [email protected]
C 29. 43-51 King Street, Stirling, FK8 1DN
SUMMARY
Tenure Heritable
Site Area (approx.) 1,220 sq m (13,132 sq ft)
Ground Floor GIA (approx.) 508 sq m (5,464 sq ft)
Location Description & Accommodation
Stirling is a busy city that is located 26 miles north-east of Glasgow and 38 miles north- A substantial terrace of three ground floor retail units with three floors of office west of Edinburgh. Stirling Castle attracts a strong level of tourism to the City being accommodation above contained within a mid terrace property stone construction Scotlands 4th biggest attraction with paid admission with over 440,000 visits in 2014 under a pitched roof. There is a car park to the rear. (source: Visit Scotland). The property offers significant development potential. Planning permission was granted in August 2013 for conversion to public house/restaurant and 24 bed hotel ref The property occupies a prominent position on the western side of King Street, close to 12/00469/FUL/IJ. This planning permission will expire in August 2016. Further details the junction of Port Street and Murray Place, which forms Stirling’s main retail and pitch. are available upon request. Leisure occupiers nearby include Brewdog, The Golden Lion, The Corn Exchange, The Crossed Peels and Morrisons Cold Beer Co with other occupiers in the immediate Ground Floor vicinity including Ladbrokes and Number Eight. Three vacant retail units with sales area to the front and storage areas to the rear. Upper Floors Vacant offices arranged over first, second and third floors suitable for redevelopment. C 29. 43-51 King Street, Stirling, FK8 1DN
Floor Areas
The property has the following approximate gross internal areas:
FLOOR DESCRIPTION SQ.M SQ.FT
Ground Retail 508 5,464
Mezzanine Office 30 323
First Office 495 5,328
Second Office 506 5,452
Third Office 503 5,414
Total 2,042 21,981
Tenure
Heritable
Rateable Value & EPC
2010 Rateable Value - £224,950 EPC rating - In course of preparation
Premises Licence Contacts The property benefits from a premises licence. Euan McGonigle Kathryn Bennett Tel: 0141 204 7767 Tel: 0141 204 7745 Mob: 07818 027 711 Mob: 07982 717 979 [email protected] [email protected]
C 30. Groves Company Inn, 22-23 Fleet Street, Swindon SN1 1RQ
SUMMARY
Tenure Freehold
Site Area (approx.) 502 sq m (5,403 sq ft)
AWT 2014/15 (net) £17,328 per week
Ground Floor GIA (approx.) 328 sq m (3,532 sq ft)
NET SALES 2010/11 2011/12 2012/13 2013/14 2014/15
Wet £457,486 £480,746 £490,669 £500,722 £529,758
Dry £213,470 £221,452 £280,200 £291,175 £329,258
Mach/Other £43,765 £39,811 £36,966 £40,689 £42,049
Total £714,720 £742,008 £807,834 £832,586 £901,064
Location Description & Accommodation
Swindon is a popular and densely populated town which is located approximately 25 A substantial mid terraced property which is of brick construction with painted and miles south west of Oxford and 35 miles east of Bristol. rendered elevations under a flat roof. Externally there is a beer terrace to the rear. Ground Floor The Groves Company Inn occupies a prominent position on Fleet Street opposite its Trading accommodation with bar servery to one side laid out with a variety of seating. junction with John Street. The area is densely populated with office buildings and Disabled WC. occupiers nearby including the Lava Lounge, Casbah, Yates and Subway. Upper Floors
Ancillary accommodation at first floor with customer WC's, catering kitchen, beer cellar, managers office and staff room.
C 30. Groves Company Inn, 22-23 Fleet Street, Swindon SN1 1RQ
Floor Areas
The property has the following approximate gross internal areas:
FLOOR DESCRIPTION SQ.M SQ.FT
Ground Trading 328 3,532
First Ancillary 237 2,552
Total 565 6,084
Tenure
Freehold
Rateable Value, EPC & Food Hygiene Rating 2010 Rateable Value - £62,250 EPC rating - D Food Standards Agency Food Hygiene Rating - 5
Premises Licence Contacts The property benefits from a premises licence permitting the sale of alcohol until Paul Breen Joseph Skinner 1.00am Sunday to Thursday and 2.00am Friday and Saturday. Tel: 020 7182 2398 Tel: 020 3257 6187 Mob: 07767 873 353 Mob: 07814 727 811 [email protected] [email protected]
C 31. Albany Palace, 1 Park Road, Trowbridge BA14 0AT
SUMMARY
Tenure Freehold
Site Area (approx.) 749 sq m (8,062 sq ft)
AWT 2014/15 (net) £21,296 per week
Ground Floor GIA (approx.) 572 sq m (6,158 sq ft)
NET SALES 2010/11 2011/12 2012/13 2013/14 2014/15
Wet £744,897 £739,251 £690,594 £666,885 £617,886
Dry £360,728 £350,387 £363,390 £434,474 £456,184
Mach/Other £38,999 £32,460 £31,318 £29,164 £33,345
Total £1,144,624 £1,122,098 £1,085,302 £1,130,523 £1,107,415
Location Description & Accommodation
Trowbridge is a historic market town in the county of Wiltshire located approximately 8 A substantial property which is of brick construction under a mix of pitched tiled and miles to the south east of Bath and 18 miles south east of Bristol. slate covered roofs. Ground Floor The Albany Palace is located in the heart of Trowbridge town centre just off of Market Trading accommodation with centrally positioned island bar servery and a variety of Street and close to the Castle Place Shopping Centre. Occupiers nearby include M&Co, tables and seating. Catering kitchen, dry store, cloak room and disabled WC. Lloyds Pharmacy, Coffee#1 and the Isaac Pitman (JD Wetherspoon). Upper Floors
At first floor is the customer WC's, beer cellar, managers office and a variety of stores.
C 31. Albany Palace, 1 Park Road, Trowbridge BA14 0AT
Floor Areas
The property has the following approximate gross internal areas:
FLOOR DESCRIPTION SQ.M SQ.FT
Ground Trading and Ancillary 572 6,158
First Ancillary 243 2,620
Total 815 8,777
Tenure
Freehold
Rateable Value, EPC & Food Hygiene Rating 2010 Rateable Value - £87,000 EPC rating - G Food Standards Agency Food Hygiene Rating - 4
Premises Licence Contacts The property benefits from a premises licence permitting the sale of alcohol until Paul Breen Joseph Skinner 02:30am Monday to Sunday. Tel: 020 7182 2398 Tel: 020 3257 6187 Mob: 07767 873 353 Mob: 07814 727 811 [email protected] [email protected]
C 34. Sir Timothy Shelley, 49 Chapel Road, Worthing BN11 1EG
SUMMARY
Tenure Freehold
Site Area (approx.) 402 sq m (4,331 sq ft)
AWT 2014/15 (net) £16,272 per week
Ground Floor GIA (approx.) 324 sq m (3,486 sq ft)
NET SALES 2010/11 2011/12 2012/13 2013/14 2014/15
Wet £618,043 £556,961 £498,596 £500,070 £548,273
Dry £192,208 £218,311 £237,950 £263,248 £267,719
Mach/Other £40,990 £36,968 £25,957 £27,753 £30,135
Total £851,242 £812,240 £762,503 £791,071 £846,127
Location Description & Accommodation
Worthing is a popular town that is located 10 miles west of Brighton and 18 miles east of A substantial mid terraced property which is of concrete construction with painted and Chichester. rendered elevations under a flat roof. Ground Floor The Sir Timothy Shelly occupies a prominent position on Chapel Road next to its Trading accommodation with central bar servery to one side and laid out with a variety junction with Liverpool Gardens. Occupiers nearby include Maplin, The Three Fishes of tables and seating. Customer WC's are also provided at this level, in addition to a and Bar Release. conservatory. Upper Floors Ancillary accommodation at first floor with catering kitchen, beer cellar, managers office and staff room.
C 34. Sir Timothy Shelley, 49 Chapel Road, Worthing BN11 1EG
Floor Areas
The property has the following approximate gross internal areas:
FLOOR DESCRIPTION SQ.M SQ.FT
Ground Trading 324 3,486
First Ancillary 220 2,367
Second Ancillary 200 2,158
Total 744 8,010
Tenure
Freehold
Rateable Value, EPC & Food Hygiene Rating 2010 Rateable Value - £84,000 EPC rating - G Food Standards Agency Food Hygiene Rating - 4
Premises Licence Contacts The property benefits from a premises licence permitting the sale of alcohol until Paul Breen Joseph Skinner 12.30am Sunday to Thursday and 1.00am Friday and Saturday. Tel: 020 7182 2398 Tel: 020 3257 6187 Mob: 07767 873 353 Mob: 07814 727 811 [email protected] [email protected]
C