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Walkabout, 13 Bird Street

For sale: £1,950,000.00|6376 Sq Ft|Pubs/Bars/Clubs, Other, Leisure Property, Licensed & Leisure, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALE£1,950,000.00
SIZE6376 Sq Ft
ADDRESSWalkabout, 13 Bird Street, Lichfield, WS13 6PW
TYPEPubs/Bars/Clubs, Other, Leisure Property, Licensed & Leisure, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON8th September 2020

DESCRIPTION

Key Points

  • Freehold public house investment
  • Let to Stonegate Pub Company Limited which is set to become the UK’s largest pub company
  • Current rent £113,140.82 per annum which is subject to a fixed increase in September 2024 to £128,008.45 per annum
  • Fixed five yearly rental increases reflecting 2.5% per annum
  • Lease expiry September 2039
  • Business unaffected by sale
  • Close to the Garrick Theatre, Lichfield Cathedral and Staffordshire University
  • Entire building GIA – 592.2 sq m (6,376 sq ft)
  • We are seeking offers in excess of £1,950,000 (5.46% NIY)
  • Summary

    The property comprises the ground and first floor of a two storey corner building

    Description

    The property comprises the ground and first floor of a two storey corner building with painted rendered and exposed brick elevations beneath a flat roof. Externally there is a trading terrace to the front elevation at ground and first floor levels.

    Viewings

    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.

    Location

    Located in the Cathedral City of Lichfield in the heartof Staffordshire close to the University of Staffordshire with a student population of over 16,500, the Garrick Theatre, Lichfield Cathedral, the Three Spires Shopping Centre and the 70 acre Beacon Park. The Walkabout occupies a prominent corner position fronting Bird Street which is the main leisure pitch in the centre of Lichfield. The property is directly opposite the Best Western George Hotel and a short walk from operators including Brewhouse and Kitchen, Acorn Inn (JD Wetherspoon), Ego Restaurants and Premier Inn.

    Terms

    We are instructed to invite offers in excess of £1,950,000 (5.46% NIY) assuming purchasers costs of 6.26%. The business will continue to trade unaffected from the premises during the marketing of the property and post completion of the sale.

    Specifications

    Ground floor The ground floor trading area is fitted as a modern bar with central servery and a variety of loose tables, chairs, sofas and bar stools for approximately 70 customers. Ancillary accommodation includes a disabled toilet, trade kitchen and cellar. First floor Additional trading area with seating on loose tables, chairs and sofas for approximately 40 customers. There is a trading terrace to the front elevation with additional seating for approximately 16 customers. Ancillary accommodation includes ladies and gentlemen’s toilets, prep kitchen, managers office and staff changing rooms.

    LOCATION

    Location: Walkabout, 13 Bird Street, Lichfield, WS13 6PW

    Lichfield City (0.2 miles)

    Lichfield Trent Valley (1.3 miles)

    Shenstone (3.0 miles)

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