16½ YEARS UNEXPIRED TO GREENE KING
Occupying a prominent position abutting a Public Car Park, within the town centre on the main A361 amongst a variety of local eateries and bars as well as multiple traders such as Odeon Cinema, Strutt & Parker Estate Agents, Pizza Express, Costcutters and others, all serving the surrounding residential area.
Banbury is a busy and prosperous market town which lies some 20 miles north of Oxford and 40 miles east of Birmingham with excellent road access via the M40.
An attractive Grade II Listed Period building comprising:
• Large Public House with 25 ft high barrel ceiling which benefits from a rear partly roofed Beer Garden.
• Cellar/Storage Area
• Function Room on part first floor.
• 6 Room Self-Contained Flat on part first and the entire second floor accessed via the front.
• Ground Floor Shop adjacent to the Public House.
Frontage to Horsefair 73'0"
Total Return Frontage 64'0"
Ground Floor Public House
Internal Width 32'0"
Pub & Built Depth 64'6"
Sales Area Approx. 2,228 sq ft
Kitchen Area Approx. 426 sq ft
Beer Garden Area Approx. 1,980 sq ft
Area Approx. 1,000 sq ft
Male & Female WCs
Mezzanine Area Approx. 279 sq ft
Part First Floor Function Room**
Area Approx. 640 sq ft
Part First & Second Floor Flat**
5 Bedrooms, Office, Kitchen, Bathroom/WC, Shower Room/WC
2/3 North Bar Street - Ground Floor Shop
Internal Width 27'3"
Shop Depth 18'6" (max)
VAT is applicable to this Lot.
The entire property is let on a full repairing and insuring lease to Greene King Brewery and Retailing Limited (having over 3,000 Pubs, Restaurants and Hotels throughout the UK) (T/O for Y/E 03/05/15 £1.222bn, Pre-Tax Profit £76m and Shareholders' Funds £1.805bn) for a term of 35 years from 29th September 1998 (having over 161/2 years unexpired) at a current rent of £77,500 per annum exclusive.
Rent Reviews 2018 and 5 yearly
Note: The Vendor has advised that the shop at 2/3 North Bar Street has been sublet for a term of 5 years from 13th June 2016 to Mr B S Reid t/a Golden Age Cycles at £6,000 p.a. The sub-tenant can break the sublease in June 2018.