Spirit Pubs, Brentwood

Property Description

• Freehold Blue-Chip Pub Investment.
• The property is arranged on basement, ground and first floors to provide a ground floor public house with ancillary accommodation in the basement and residential accommodation comprising three rooms kitchen and bathroom on the first floor.
• The Property also benefits from a beer garden and a gated car park.

Location Description

• Brentwood, with a population of some 79,000, is a popular South Essex town, located approximately 18 miles(28 km) north-east of Central London and 11 miles (18 km) south-west of Chelmsford.
• The town is well connected being located south-east of the A12, which links to Junction 28 of the M25 Motorway approximately 1 mile (1.6 km) away. Brentwood Rail Station provides regular services to London (Liverpool Street, fastest time 29 minutes) and is currently being improved to facilitate the new Crossrail services, (www.crossrail.co.uk).
• The property is situated at the roundabout junction of Rayleigh Road (A129) and Alexander Lane in Shenfield, 1.5 miles North-East of Brentwood Town Centre.
• Occupiers close by include Co-Op Food, M&S Simply Food and a number of residential properties.

Additional Notes

• The property is let to Spirit Pub Company (Leased) Limited until June 2029 for £70,000 per annum (Guaranteed by Spirit Group Parent limited & Scottish & Newcastle Limited until 2024).
• For the year ending 28th December 2019, Spirit Group Parent Limited did not report a turnover but reported a pre-tax profits of £22.581m and shareholders funds and net worth of £460.279m (Source: Experian Group 10/02/2021).
• For the year ended 31.12.2019 Scottish & Newcastle Limited did not report a turnover but reported a pre-tax profit of £67.461m, shareholders funds of £3,029.425m and a net worth of £3,028.609m (Source Experian 10.02.2021)
• The original lease was for a term of years from 20.04.1995 to 23.06.2024 which has been extended for a further 5 years by way of a reversionary lease. The original lease is guaranteed by Scottish & Newcastle Limited (by way of privity) until 23.06.2024.