Duke of Wellington, Kenton Lane, Newcastle upon Tyne, NE3 3BQ

Description
The two storey detached building is arranged over ground, basement and first floors with painted rendered elevations beneath a pitched roof.

Location
Located in the Kenton suburb of Newcastle, 2.9 miles north west of the city centre, fronting Kenton Lane (A191).

The Duke of Wellington is located in a mixed commercial and residential area with Tesco Express petrol station and convenience store adjacent alongside a parade of local retailers.

Accommodation
Ground Floor - The ground floor provides an open plan trading area with a central bar servery and seating on loose tables, chairs and bench seating for 143 customers. Ancillary areas include customer WC's and a trade kitchen.

Basement - The basement comprises cellar, office and stores.

First Floor - The first floor comprises a function room with separate bar servery, customer WC's, stores and a capacity for 100 customers. In addition there is managers accommodation which provides 3 bedrooms, kitchen, bathroom and living room.

External - Beer garden to the front and rear with seating for 100 customers. To the rear elevation is parking for 57 vehicles and a single storey outbuilding used for storage.

Tenure
The property is held freehold (Title Number TY406897).

Planning
The property is not listed nor is it situated within a conservation area.

EPC
C - 64

Tenancy
The entire property is let to Greene King Brewing and Retailing Limited with Greene King Limited as guarantor on a lease expiring 23 June 2034 at a current rent of £195,557 per annum* which is subject to annual fixed rental increases of 2.5% with the next increase in Decrease 2027.
*Please note the passing rent is £190,787 per annum however, this will be topped up to £195,557 per annum between the date of completion and 25th December 2026 when the fixed 2.5% rental increase is due

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.

Terms
We are instructed to invite offers in excess of £1,940,000 (9.5% NIY) assuming the usual purchasers costs.

Covenant
The property is let to Greene King Brewing and Retailing Limited which forms part of the wider Greene King Limited company. The group is one of the leading pub retailers and brewers in the UK, currently owning and operating approximately 2,520 pubs, restaurants and hotels with revenue of £2,539m in the 53 weeks to 4 January 2026.

Greene King was founded in 1799 with the pub company’s headquarters in Bury St Edmunds, Suffolk and in 2019, CK Asset Holdings completed the acquisition of the company for £2.7bn making this one of the largest portfolio acquisitions in the pub sector.

The company is renowned for its Chef & Brewer and Hungry Horse brands, however they operate a number of formats including Farmhouse Inns, Belhaven, Wacky Warehouse, Hightales, Flaming Grill, Hickory’s, and Greene King Inns.

Fixtures & 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.