Wetherspoon Public House at Ambassador House Brigstock Road, Thornton Heath, Surrey CR7 7JG
Location Estimated District Population: 340,000 Miles: 2 miles north of Croydon 6 miles west of Bromley 9 miles south-east of Central London
Roads: A23, A212
Position The property is located in a prominent position on the south side of Brigstock Road, diagonally opposite Tesco and Thornton Heath Railway Station and a short walk to Crystal Palace Football Ground.
Nearby: Barclays Bank, Tesco, Superdrug, Coral, William Hill and Iceland.
Description PUBLIC HOUSE arranged on the ground floor only, forming part of a larger building. The property also benefits from an outside seating area.
Tenure Leasehold. Held for a term of approximately 75 years from completion, expiring 15th December 2087 at the total head rent of £5,987.85 pa subject to a rent review in 2017 and 10 yearly thereafter to 10.887% of rent passing or rental value – please see legal documentation.
Tenant JD WETHERSPOON PLC (1)
Lease Term: 40 years from 22nd May 1998 Basis: FRI Rent: £52,000 per annum Reviews: 2013 and 5 yearly thereafter Expiry: May 2038 (2)
VAT is applicable to this lot – please see Special Conditions of Sale.
NB. This property is being marketed on behalf of Joint Fixed Charge Receivers excluding any title guarantees, warranties or indemnities. The information in these particulars has been provided by the Joint Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Present Accommodation (approximate areas) Floor
Accommodation Ground
Public House/Ancillary Outside Seating Area
Total Commercial Area Net Internal Areas
448.24 sq m –
448.24 sq m
(4,825 sq ft) (–)
(4,825 sq ft)
(1) Trading as JDWetherspoon, who for the year to 07/11, reported a total turnover of £1.072 billion, pre-tax profits of £61.4 million and total assets of £989.8 million. (Source: One Source One-Stop Report)
(2) The lease incorporates a tenant’s option to break in 2018 – please see lease. NB. The outside seating area is currently let to JDWetherspoon plc on a lease expired 1st August 2007 (Holding over) at the current rent of £3,000 pa. Please see legal documentation.
AMBASSADOR HOUSE
FLORA SANDES PUBLIC HOUSE
Licence No. PU1000017316 from Experian Goad, Hatfield Herts. For identification purposes only – please see title documentation.
Extract reproduced from 1998 Edition of the Goad Plan
Net Rent
£49,012.15 pa ON INSTRUCTIONS OF JAMES MONEY AND KERRY BAILEY OF PKF (UK) LLP ACTING AS JOINT FIXED CHARGE RECEIVERS
High Yielding Leasehold Retail Investment
• Let to JDWetherspoon plc on two leases
• Main lease expires May 2038 (subject to option)
• Combined rent of £55,000 pa
• Established location opposite Tesco and Thornton Heath Railway Station
• 6Week Completion Available
The Special Conditions of Sale and a legal pack are available from the Seller’s Solicitors and are available online at www.cbre.co.uk/auctions. Seller’s Solicitor Shakespeares Solicitors. t: 0845 620 9572. e: vicki.simpson@shakespeares.co.uk Ref: Ms V Simpson.