Property Description
<strong>Description</strong><br>The property comprises the ground and first floor of a two storey detached building with part painted and rendered elevations beneath a pitched roof. There is a single storey extension to the rear. The property has an approximate site area of 0.89 of an acre.<br><br><strong>Accommodation</strong><br>Ground Floor: The ground floor trading area comprises a central bar servery to an open plan dining area, over split levels, and public bar with games area to the side. Ancillary areas included WC’s, commercial trade kitchen, office, a variety of stores and ground floor beer cellar.<br />
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First Floor: The first floor provides a four bed managers flat with bathroom, kitchen and lounge.<br />
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Externally: Externally to the front and side there is a beer patio for approximately 130 covers. Car parking to the front for 50 vehicles, service yard and a children’s play area to the rear.<br><br><strong>Planning</strong><br>The Property is neither listed nor within a Conservation Area.<br><br><strong>Rateable Value</strong><br>£27,250<br><br><strong>EPC</strong><br>C-70.<br><br><strong>Tenure</strong><br>The Property is held freehold (Tile Number SYK187564), subject to and with the benefit of an Occupational Lease to Marston’s Plc (Company Number 00031461).<br><br><strong>Tenancy</strong><br>The property is let to Marston’s Plc on a fully repairing and insuring lease, subject to a schedule of condition, for a term expiring on 22nd November 2031. The lease is drawn within the Security of Tenure provisions of the Landlord & Tenant Act 1954.<br />
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The passing rent of £49,269 p.a. The lease is subject to an upward-only rent review on 23rd November 2026, in line with RPI, with a collar of 1% and a cap of 3%. The rent will be “topped-up” to £57,103 p.a. in line with the RPI provisions.<br><br><strong>Covenant</strong><br>Marston’s Plc (Company Number 00031461), established in 1834, is one of the UK’s most established operators of pubs, restaurants and hotels, with 1,328 sites, of which 83% are owned freehold (29 March 2025). Marston’s is listed on the FTSE250 with a market capitalisation of £358.39 million (11 March 2026).<br />
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Marston’s disposed of its 40% stake in Carlsberg Marston’s Brewing Company (CMBC) in July 2024 (FY2024) for net proceeds of £202.6 million. This disposal has been transformational for the business, helping them reduce their debt position.<br><br><strong>Terms</strong><br>We are instructed to invite offers in excess of £747,500 (£114/SQ FT) which reflects a Net Initial Yield of 7.25% after deducting the usual purchasers costs.<br />
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The business will continue to trade unaffected from the premises during the marketing of the property and post completion of the sale.<br><br><strong>VAT</strong><br>It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT on the basis the purchasing entity is VAT registered.<br><br><strong>Money Laundering</strong><br>Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.<br><br><strong>Viewings</strong><br>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.<br><br>