Let to Enterprise Inns plc until 2045 (subject to option)
5 yearly rent reviews
Lot 22
Auction 21st October 2010
Rent £55,000 per Annum Exclusive
Status Sold
Price £800,000
Sector Leisure
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Miles
2 miles north of City of London
Roads
A1, A10, A501 (Inner Ring Road
Rail
Canonbury Rail (London Overground)
Air
City Airport, Heathrow Airport
Situation
The property is prominently situated on the south side of Grosvenor Road at the junction with Wallace Road, 50 metres from Canonbury Railway Station. Arsenal Football Club’s Emirates Stadium less than 1 mile to the north-west. The area is a desirable and affluent residential location.
Tenure
Freehold.
Location
Miles
2 miles north of City of London
Roads
A1, A10, A501 (Inner Ring Road
Rail
Canonbury Rail (London Overground)
Air
City Airport, Heathrow Airport
Situation
The property is prominently situated on the south side of Grosvenor Road at the junction with Wallace Road, 50 metres from Canonbury Railway Station. Arsenal Football Club’s Emirates Stadium less than 1 mile to the north-west. The area is a desirable and affluent residential location.
Tenure
Freehold.
Description
The property comprises a PUBLIC HOUSE on the ground floor and ANCILLARY ACCOMMODATION on basement, first and second floors. There is a LARGE BEER GARDEN to the rear.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a PUBLIC HOUSE on the ground floor and ANCILLARY ACCOMMODATION on basement, first and second floors. There is a LARGE BEER GARDEN to the rear.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
35 years from completion until 2045 on a full repairing and insuring lease (2)(3)
£55,000
2015 and 5 yearly
Totals
494.83 sq m
(5,327 sq ft)
£55,000
(1) Enterprise Inns plc is one of the UK’s leading operators of leased and tenanted pubs, with approaching 7,400 outlets. For the year ended 30th September 2009, Enterprise Inns plc reported a turnover of £818m, EBITDA of £445m, pre-tax profits before exceptional items of £208m and net assets of £1.36bn. (Source: Company Website – Annual Report and Accounts 2009)(2) The lease provides for a tenant’s option to determine the lease on the 25th anniversary of the term on giving at least six months’ written notice.(3) The property has been sub-let on a tied lease to High Water Everywhere Ltd.
