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The property comprises an attractive freehold pub investment let to Stonegate Pub Company; the largest pub company in the UK.
Arranged across ground, first and second floors, the former 19th century coaching inn includes bar and seating areas to the ground floor with an number of original features. The upper parts comprise two managers flats and we understand the second floor is not used by the tenant. The property includes an expansive beer garden to the rear.
The property is entirely let to Stonegate Pub Company Limited by way of a 35 year lease and a further five year reversionary lease expiring 30/03/2039 and Producing £85,257 per annum. There are therefore approximately 15 years unexpired.
Haslemere is a highly affluent town popular with commuters the property is one of only two pubs in the town centre and fronts the High Street, furthermore we understand the property is the only pub in Haslemere with a late license. The area is characterised by retail and leisure use with a number of local and national retailers and restaurants including The Entertainer, Pizza Express and Costa.
Tenure
Freehold
Tenancy
The property is entirely let to Stonegate Pub Company Limited by way of a 35 year lease and a further five year reversionary lease expiring 30/03/2039 and Producing £85,257 per annum. There are therefore approximately 15 years unexpired.
The lease was assigned from JD Wetherspoon Plc in 2015 and we understand that the income is currently secured by them.
The lease includes five yearly upward only rent reviews and we consider the property may have asset management potential via an outstanding rent review from 2019.
Rent