George, Wokingham Road, Earley, Reading, RG6 7EN
Offers in Excess of
£2,350,000
£21363.64 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
110-4,876 sq ft
10-453 sq m
- SECTOR
Pub for sale
Key features
- Freehold public house investment
- Entire property let to Spirit Pub Company (Managed) Limited which forms part of Greene King one the UK’s leading hospitality groups with more than 2,600 outlets
- Property arranged over two levels with 4 bedroom manager’s accommodation extending in total to approximately 5,950 Sq Ft (553 Sq M)
- Current rent of £195,000 per annum
- The next upwards only rent review due in June 2028
- Lease expiring 23rd June 2043
- Character Grade II listed building on a substantial site of approximately 3,626 sq m (0.9 acres)
- Offers in excess of £2,350,000 (7.80% NIY)
- Business unaffected by sale
Description
Description
The Grade II listed two storey detached period building is of brick construction under a mix of pitched and hipped roofs, part tiled and part slate. It is arranged over ground and first floor levels with a number of single storey extensions.
Externally the property benefits from from a large car park capable of accommodating 55 vehicles. In addition there are outdoor terrace areas to the front and rear of the property with approximately 142 covers.
The property operates under one of Greene King’s flagship brands, Chef & Brewer, which has an estate of circa 150 venues across the UK.
Location
The George is located in the affluent Berkshire town of Earley which is located in a densely populated area, 2 miles south east of Reading town centre and 3 miles north west of Wokingham. The area is popular with commuters due to its close proximity to the M4 Motorway and train station which provides easy access to Reading and short onward journey times to London Paddington from as little as 40 minutes.
The property occupies a prominent roadside position fronting the A329 Wokingham Road at its junction with Loddon Bridge Road. The River Loddon runs along the eastern boundary of the site and provides attractive views from the garden.
The surrounding area comprises a mix of residential and commercial uses with occupiers nearby include a Shell Petrol Filling Station, a 14 screen Showcase de Lux cinema, the Winnersh Garden Centre, an 87 bed Premier Inn hotel, a 93 bed Travelodge hotel and a Five Guys restaurant which is currently under construction.
Winnersh Triangle, a 1.5 million mixed use business park, is located within 5 minutes walk of the property and hosts over 60 companies and more than 5,500 people. Tenants within the park include Hewlett Packard, Hollister, Virgin Media, FLB Accountants and Pip Studios.
Tenure
The property is held freehold (Title Number BK320082).
Tenancy
The entire property is let to Spirit Pub Company (Managed) Limited (Company Number 05269240) and guaranteed by Spirit Group Parent Limited (Company Number 04872039) on a lease expiring on 23rd June 2043 at a current rent of £195,000 per annum. The rent is subject to upwards only rent review on 24th June 2028 and five yearly thereafter.
Covenant
The property is let to Spirit Pub Company (Managed) Limited and the lease is guaranteed by Spirit Group (Parent) Limited), both of which are wholly owned subsidiaries of Greene King, one of the leading pub retailers and brewers in the UK. The group operated approximately 2,572 pubs, restaurants and hotels with revenue of £2.45 billion in the 52 weeks to 29 December 2024.
Greene King was founded in 1799 with the pub company’s headquarters in Bury St Edmunds, Suffolk. In 2019, CK Asset Holdings completed the acquisition of the company for £2.7bn making this one of the largest ever corporate acquisitions in the pub sector. CKA is a Hong Kong based real estate and investment group listed on the Hong Kong Stock Exchange (Market Capitalisation c.£12 billion). The Group has a Net Asset Value of c.£41 billion.
Greene King is renowned for its range of market leading brands including Chef & Brewer, Hickory’s, Hungry Horse, Farmhouse Inns, Belhaven, Wacky Warehouse, Hightales, Flaming Grill and Greene King Inns.
Planning
The property is Grade II listed but is not situated within a Conservation Area.
VAT
The property will be sold as a TOGC and will be exempt from VAT on the basis that the purchasing entity is VAT registered.
EPC
C-56
Terms
Offers in excess of £2,350,000 which reflects a Net Initial Yield of 7.80% based upon standard purchasers costs.
Fixtures and Fittings
The fixtures and fittings are currently owned by the occupational tenant.
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.
Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.
The Grade II listed two storey detached period building is of brick construction under a mix of pitched and hipped roofs, part tiled and part slate. It is arranged over ground and first floor levels with a number of single storey extensions.
Externally the property benefits from from a large car park capable of accommodating 55 vehicles. In addition there are outdoor terrace areas to the front and rear of the property with approximately 142 covers.
The property operates under one of Greene King’s flagship brands, Chef & Brewer, which has an estate of circa 150 venues across the UK.
Location
The George is located in the affluent Berkshire town of Earley which is located in a densely populated area, 2 miles south east of Reading town centre and 3 miles north west of Wokingham. The area is popular with commuters due to its close proximity to the M4 Motorway and train station which provides easy access to Reading and short onward journey times to London Paddington from as little as 40 minutes.
The property occupies a prominent roadside position fronting the A329 Wokingham Road at its junction with Loddon Bridge Road. The River Loddon runs along the eastern boundary of the site and provides attractive views from the garden.
The surrounding area comprises a mix of residential and commercial uses with occupiers nearby include a Shell Petrol Filling Station, a 14 screen Showcase de Lux cinema, the Winnersh Garden Centre, an 87 bed Premier Inn hotel, a 93 bed Travelodge hotel and a Five Guys restaurant which is currently under construction.
Winnersh Triangle, a 1.5 million mixed use business park, is located within 5 minutes walk of the property and hosts over 60 companies and more than 5,500 people. Tenants within the park include Hewlett Packard, Hollister, Virgin Media, FLB Accountants and Pip Studios.
Tenure
The property is held freehold (Title Number BK320082).
Tenancy
The entire property is let to Spirit Pub Company (Managed) Limited (Company Number 05269240) and guaranteed by Spirit Group Parent Limited (Company Number 04872039) on a lease expiring on 23rd June 2043 at a current rent of £195,000 per annum. The rent is subject to upwards only rent review on 24th June 2028 and five yearly thereafter.
Covenant
The property is let to Spirit Pub Company (Managed) Limited and the lease is guaranteed by Spirit Group (Parent) Limited), both of which are wholly owned subsidiaries of Greene King, one of the leading pub retailers and brewers in the UK. The group operated approximately 2,572 pubs, restaurants and hotels with revenue of £2.45 billion in the 52 weeks to 29 December 2024.
Greene King was founded in 1799 with the pub company’s headquarters in Bury St Edmunds, Suffolk. In 2019, CK Asset Holdings completed the acquisition of the company for £2.7bn making this one of the largest ever corporate acquisitions in the pub sector. CKA is a Hong Kong based real estate and investment group listed on the Hong Kong Stock Exchange (Market Capitalisation c.£12 billion). The Group has a Net Asset Value of c.£41 billion.
Greene King is renowned for its range of market leading brands including Chef & Brewer, Hickory’s, Hungry Horse, Farmhouse Inns, Belhaven, Wacky Warehouse, Hightales, Flaming Grill and Greene King Inns.
Planning
The property is Grade II listed but is not situated within a Conservation Area.
VAT
The property will be sold as a TOGC and will be exempt from VAT on the basis that the purchasing entity is VAT registered.
EPC
C-56
Terms
Offers in excess of £2,350,000 which reflects a Net Initial Yield of 7.80% based upon standard purchasers costs.
Fixtures and Fittings
The fixtures and fittings are currently owned by the occupational tenant.
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.
Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.
Brochures
George, Wokingham Road, Earley, Reading, RG6 7EN
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Winnersh Triangle Station0.4 miles
- Earley Station0.8 miles
- Winnersh Station1.1 miles
Notes
These notes are private, only you can see them.
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