Harrowby Arms, Patshull Avenue, Wolverhampton, WV10 6RQ

Description
The property comprises the basement, ground and first floors of a two storey detached building with painted front and side elevations beneath a pitched tile roof. The property has an approximate site area of 0.59 of an acre.

Location
Wolverhampton is located approximately 6 miles west of Walsall and 13 miles north west of Birmingham City Centre. The Harrowby Arms is located approximately 3 miles north of Wolverhampton City Centre.

Accommodation
Basement: The basement provides cellar and stores.

Ground Floor: The ground floor provides two separate trading areas which are served by a central bar servery both with seating on loose tables, chairs and benches seating for 122 customers. Ancillary areas include a disabled and customer WC’s, commercial kitchen and stores located to the rear.

First Floor: The first floor provides manager’s accommodation is also located on the first floor which comprises three bedrooms, lounge, kitchen and a bathroom.

Externally: Externally there is customer trade area to the front of the property with seating on loose benches for approximately 54 customers and car parking for 30 vehicles.

Planning
The property is not listed and is not situated within a conservation area.

Rateable Value
£18,000

EPC
In the course of preparation.

Tenure
The Property is held freehold (Tile Number WM874055), subject to and with the benefit of an Occupational Lease to Marston’s Plc (Company Number 00031461).

Tenancy
The property is let to Marston’s Plc on a fully repairing and insuring lease, subject to a schedule of condition, for a term expiring on 22nd November 2031. The lease is drawn within the Security of Tenure provisions of the Landlord & Tenant Act 1954.

The passing rent of £43,473 p.a. The lease is subject to an upward-only rent review on 23rd November 2026, in line with RPI, with a collar of 1% and a cap of 3%. The rent will be “topped-up” to £50,385 p.a. in line with the RPI provisions.

Covenant
Marston’s Plc (Company Number 00031461), established in 1834, is one of the UK’s most established operators of pubs, restaurants and hotels, with 1,328 sites, of which 83% are owned freehold (29 March 2025). Marston’s is listed on the FTSE250 with a market capitalisation of £358.39 million (11 March 2026).

Marston’s disposed of its 40% stake in Carlsberg Marston’s Brewing Company (CMBC) in July 2024 (FY2024) for net proceeds of £202.6 million. This disposal has been transformational for the business, helping them reduce their debt position.

Terms
We are instructed to invite offers in excess of £685,000 (£96/SQ FT) which reflects a Net Initial Yield of 6.99% after deducting the usual purchasers costs.

The business will continue to trade unaffected from the premises during the marketing of the property and post completion of the sale.

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.

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.

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.