all bar one - amazon web servicesbulkloader.prd.pl.artirix.com.s3.amazonaws.com/b184bc88... ·...
Post on 19-Jun-2020
0 Views
Preview:
TRANSCRIPT
16-17 North Street Guildford • Gu1 4Af
All BAr oNe
“Long Leasehold public house and retail investment for sale let to Mitchells and Butlers with an estate of over 1,700 pubs across the United Kingdom”
Licensed Leisure www.savills.co.uk/licensedleisure
iNveStmeNt SummAry
+ Long leasehold public house and retail investment with an unexpired term of 120 years at a rent of £1.50 per annum
+ Prime location in the centre of Guildford
+ Let to Mitchells and Butlers Retail (No.2) Limited which has a 5A1 D&B Rating
+ Current rent of £185,000 per annum
+ Lease expiry May 2033
+ Five yearly open market rent reviews with the 2018 review outstanding
+ We are seeking offers in excess of £3,475,000 (5.0% NIY)
+ Business not affected
All BAr oNe 16-17 North Street, Guildford Gu1 4Af
50 metres
For more information on our products and services:www.experian.co.uk/goad | goad.sales@uk.experian.com | 0845 601 6011
Guildford
Experian Goad Plan Created: 07/01/2020Created By: Savills
Copyright and confidentiality Experian, 2019. © Crown copyright anddatabase rights 2019. OS 100019885
All BAr oNe 16-17 North Street, Guildford Gu1 4Af
locAtioN
Guildford is an affluent riverside town located in the Surrey Hills approximately 30 miles south west of London. Road and rail communications are excellent. The A3, M3 and M25 motorways all being easily accessible and the town is popular with commuters with frequent train services between Guildford and London Waterloo with an average journey time of 35 minutes.
All Bar One and the Guildford Cobblers are located in the heart of the town centre within proximity to the Friary Centre where occupiers nearby include Hollister, Urban Outfitters, River Island, Zara and Superdry. Other major occupiers nearby include House of Fraser, Marks & Spencer, Pret a Manger, Barclays and Decathlon.
Guildford has its own cathedral and is the home of the University of Surrey which is home to nearly 17,000 students as well as the G Live arts and entertainment venue.
deScriPtioN
The property comprises the ground, basement and two upper floors of a three storey terraced building with exposed brick elevations beneath a pitched and hipped roof.
AccommodAtioN
GrouNd floor - BArThe ground floor trading area is fitted as a modern bar with a central bar servery and a variety of loose tables, chairs and bench seating for approximately 100 customers. Ancillary accommodation comprises a theatre style open plan kitchen to the rear.
GrouNd floor – retAilThe ground floor comprises an open plan retail unit and a separate toilet to the rear.
BASemeNtAncillary accommodation for All Bar One comprises a prep kitchen with dumbwaiter, beer cellar, staff changing rooms and a number of storage rooms.
uPPer floorSTo the rear of the first floor is an additional trading area with a separate bar servery and seating on loose tables, chairs and bench seating for approximately 50 customers. Ancillary accommodation comprises ladies and gentlemen’s toilet facilities, separate staff toilet and boiler room.
To the front of the first floor are two self-contained apartments with a separate access directly from North Street. Both apartments comprise a bedroom, kitchen and bathroom.
The managers accommodation is situated at second floor and comprises a living room, two bathrooms, kitchen and double bedroom.
All BAr oNe 16-17 North Street, Guildford Gu1 4Af
Basement Ground Floor
First Floor
NB. Plans not to scale
Store
Store
Store
Store
Store Store
Store Store
Kitchen
Store
Freezer
Cellar
Store
Office
116-118 Westminster Buildings, Walsgrave Road,Coventry, CV2 4ED 024 76 233144
Dwg No - WZ026459
Presentation Scale 1:100 @A3
Basement
FLOOR PLANAll Bar One16-17 North StreetGuildfordGU1 4AF
GIA 195.96 sqm (2,109.30 sqft)
WC
WC
Trade Area
Bath
Kitchen
Lounge
Bedroom
Kitchen
Shower
WC
Plant
116-118 Westminster Buildings, Walsgrave Road,Coventry, CV2 4ED 024 76 233144
Dwg No - WZ026459
Presentation Scale 1:100 @A3
First Floor
FLOOR PLANAll Bar One16-17 North StreetGuildfordGU1 4AF
Front GIA 72.06 sqm (775.65 sqft)
Rear GIA 120.81 sqm (1,300.38 sqft)
WC
WC
Trade Area
Bath
Kitchen
Lounge
Bedroom
Kitchen
Shower
WC
Plant
116-118 Westminster Buildings, Walsgrave Road,Coventry, CV2 4ED 024 76 233144
Dwg No - WZ026459
Presentation Scale 1:100 @A3
First Floor
FLOOR PLANAll Bar One16-17 North StreetGuildfordGU1 4AF
Front GIA 72.06 sqm (775.65 sqft)
Rear GIA 120.81 sqm (1,300.38 sqft)
Trade Area
Trade Area
Trade Area
Retail Unit
WC
WC
Kitchen
Glass Wash
116-118 Westminster Buildings, Walsgrave Road,Coventry, CV2 4ED 024 76 233144
Dwg No - WZ026459
Presentation Scale 1:100 @A3
Ground Floor
FLOOR PLANAll Bar One16-17 North StreetGuildfordGU1 4AF
GIA 292.32 sqm (3,146.51 sqft)
Bath
Kitchen
Lounge
Bedroom
Bath
Store
116-118 Westminster Buildings, Walsgrave Road,Coventry, CV2 4ED 024 76 233144
Dwg No - WZ026459
Presentation Scale 1:100 @A3
Second Floor
FLOOR PLANAll Bar One16-17 North StreetGuildfordGU1 4AF
GIA 72.10 sqm (776.08 sqft)
Second Floor
iNterNAl coNfiGurAtioN
APProximAte floor AreAS
The property has the following approximate gross internal floor areas.
level description Sq m Sq ft
Ground Bar Trading/ Ancillary 271.3 2,921
Ground Retail Trading/ Ancillary 21 226
Basement Bar Ancillary 196 2,109
first Bar Trading/ Ancillary 120.8 1,300
first Bar Accommodation 72.1 776
Second Bar Accommodation 72.1 776
total 753.3 8,108
All BAr oNe 16-17 North Street, Guildford Gu1 4Af
PlANNiNG
Our initial enquiries of the local authority have revealed that the property is Grade II Listed and is not located within a conservation area.
ePc
C-63
teNure ANd teNANcy
The property is held long leasehold for a term of 150 years from 5 April 1990 at a rent of £1.50 per annum.
The entire property is let on a 35 year lease to Mitchells and Butlers Retail (No. 2) Limited (Company Number 03959664) expiring 17 May 2033 at a current rent of £185,000 per annum subject to five yearly upwards only rent reviews, with the 2018 rent review outstanding.
All BAr oNe 16-17 North Street, Guildford Gu1 4Af
coveNANt
Mitchells and Butlers is a leading operator of managed restaurants, pubs and bars throughout the UK established in 1889 and currently operating over 1,700 outlets. Their brands include All Bar One, Browns, Miller & Carter, Vintage Inns, Harvester, O’Neills and Toby Carvery.
Mitchells and Butlers Retail (No. 2) Limited is a wholly owned subsidiary of Mitchells and Butlers Plc which has published the following financial information:
year end 28/09/2019 29/09/2018 30/09/2017
turnover £2,237m £2,152m £2,18m
Adjusted operating Profit £297m £303m £314m
Number of managed Assets 1,671 1,687 1,695
comPArABle trANSActioNS
Property tenant Price yield (Niy) date
Black Prince, Addlestone Spirit Pub Company (Greene King) £1.93m 4.94% Feb-19
Ship, WilmslowSpirit Pub Company
(Greene King) £1.55m 5.03% Feb-19
o’Neill’s, harrow Mitchells & Butlers Retail Limited £1.90m 4.90% Jul-18
All Bar one, SuttonMitchells & Butlers Retail
(No. 2) Limited £1.50m 5.34% Apr-18
All BAr oNe 16-17 North Street, Guildford Gu1 4Af
vAt
It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT.
termS
We are instructed to invite offers in excess of £3,475,000 (5.0% NIY) assuming purchasers costs of 6.50%.
The business will continue to trade unaffected from the premises during the marketing of the property and post completion of the sale.
the mArket
Investor appetite for public house investments throughout the United Kingdom has increased in recent years particularly where opportunities are let to strong covenants in affluent towns and cities. The continued strong operational performance across the public house sector, which has outperformed the more traditional asset classes in recent times, has provided further certainty to investors as to the security of their income.
Published for the purposes of identification only and although believed to be correct its accuracy is not guaranteed. Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office © Crown copyright licence number 100024244 Savills (L&P) Limited.Savills, their clients and any joint agents give notice that:
1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.
2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.
January 2020
vieWiNG ANd coNtActS
All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff.
For further information and all viewing requests please contact the sole selling agents Savills.
Stuart Stares
+44 (0) 207 299 3088
sstares@savills.com
Paul Breen
+44 (0) 207 877 4555
pbreen@savills.com
Ordnance Survey © Crown Copyright 2019. All Rights Reserved.Licence number 100022432Plotted Scale - 1:750. Paper Size - A4
top related