Sold

London E11 – Freehold Pub Investment

London E11 - Heathcote Arms, 344 Grove Green Road, Leytonstone

Property Type:
Commercial
Sub Type:
Leisure

Income

£155,000 per annum increasing to £185,000 per annum in year 5

Description

  • Freehold Pub Investment Let on a new 25 year lease with fixed uplifts
  • Newly refurbished pub situated on a prominent corner site arranged over basement, ground and two upper floors
  • Gross internal area of approximately 1,056 sq m (11,369 sq ft)
  • Site area of approximately 0.28 acres including a large trade garden
  • Whole building let to Genius Star Limited (multi-site pub operator) on a new 25 year lease
  • Commencing rent of £155,000 pa increasing annually to £185,000 pa in year five
  • RPI uplifts from the 6th year to the 10th year of the lease
  • The tenant has just completed an extensive refurbishment of the property costing in excess of £400,000
  • The lease is subject to a personal guarantee and a rent deposit of £93,000 (gross)
  • Capital value of £264 psf at the guide price

 

Please click to open data room