Gardeners Arms, 103 York Hill, Loughton, IG10 1RX

Description
The property comprises the ground and basement of a two storey detached property with painted wooden clad elevations beneath a pitched and hipped roof.

Ground: The ground floor provides an open plan trading area with central bar servery and seating on loose tables, chairs, benches and bar stools for 68 customers. Ancillary areas comprises a trade kitchen, glass wash, managers bedroom and customer WC’s.

Basement: The basement comprises a function room with separate bar servery to the right hand side and cellar and stores to the left hand side.

Cottage: There is a separate two storey managers accommodation to the left hand side of the property which is accessed from both the trading area and separate external access.

External: There is a beer garden to the rear with seating on benches for 48 customers with further seating to the front elevation for 70 customers. There is a car park to the side elevations for 7 vehicles.

The entire site covers an area of approximately 0.24 acres.

Location
The Gardeners Arms is prominently located on York Hill in Loughton, Essex, situated on one of the highest points in the county. The property offers panoramic views of London from its terrace, making it a unique feature in the area.

The property benefits from its proximity to Loughton Underground Station, providing convenient connections to central London. It is also near Epping Forest, a popular destination for visitors and locals alike. The location is accessible via the A121 High Road, ensuring strong connectivity and consequently making it a highly desirable place to reside.

Nearby retailers include Specsavers, Majestic Wine, M&S Simply Food, and Morrisons, contributing to a steady flow of local and visiting trade. The combination of scenic views, strong transport links, and nearby amenities positions the Gardeners Arms as a well-located establishment.

Planning
The property is a Grade II Listed building and is situated within the York Hill, Loughton Conservation Area.


Tenure
The property is held freehold (Title Number EX469504).

Tenancy Schedule
The property is let in its entirety to EI Group Ltd, with Stonegate Pub Company Ltd acting as guarantor under an Authorised Guarantee Agreement. The property is held on a 25-year FR&I lease from 5 December 2024, including 5-yearly CPI rent reviews with an annual collar and cap of 1% and 4%, respectively. The current passing rent is £80,000 per annum.

Covenant
EI Group Ltd reported net assets of £913 million and a total sales revenue of £322 million for the year ending September 2023. Stonegate Pub Company Limited is the UK’s largest pub operator, with 4,432 pubs and bars generating £1.719 billion in revenue as of 24 September 2023. Backed by TDR Capital since 2010, Stonegate expanded through key acquisitions, including Ei Group in 2020 for £1.27 billion.

In 2024, Stonegate completed debt refinancing, supported by a £250 million shareholder contribution from TDR Capital and a £638 million agreement with Apollo covering 1,000 pubs. Key brands include Yates, Slug & Lettuce, Popworld, and Walkabout.

Terms
Offers in the region of £1,255,000 (6.02% NIY) for the freehold interest subject to the existing lease.

VAT
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.

Fixtures & Fittings
The fixtures and fittings are currently owned by the occupational tenant.

EPC
The property has an EPC Rating of C-67.

Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.