Let to Enterprise Inns plc until 2045 (subject to option)
Popular North London location
3.5 miles north of City of London
5 yearly rent reviews
Located on major North London thoroughfare
Six Week Completion Available
Lot 4
Auction 21st October 2010
Rent £70,000 per Annum Exclusive
Status Sold
Price £1,050,000
Sector Leisure
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Miles
3.5 miles north of City of London
Roads
A10, A1, A501
Rail
Stoke Newington Rail (London Overground)
Air
City Airport, Heathrow Airport
Situation
The property is situated on the east side of the busy Stamford Hill (A10) at its junction with Windus Road. Stamford Hill (A10) is the main arterial route from the City of London through North London. Neighbouring occupiers include William Hill, Topps Tiles, Carpetright and Morrisons which is opposite the property.
Tenure
Freehold.
Location
Miles
3.5 miles north of City of London
Roads
A10, A1, A501
Rail
Stoke Newington Rail (London Overground)
Air
City Airport, Heathrow Airport
Situation
The property is situated on the east side of the busy Stamford Hill (A10) at its junction with Windus Road. Stamford Hill (A10) is the main arterial route from the City of London through North London. Neighbouring occupiers include William Hill, Topps Tiles, Carpetright and Morrisons which is opposite the property.
Tenure
Freehold.
Description
The property comprises a PUBLIC HOUSE on ground and ANCILLARY ACCOMMODATION on the first, second and third floors.
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 ground and ANCILLARY ACCOMMODATION on the first, second and third floors.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Basement Ground First Second Third
Ancillary Public House Ancillary Ancillary Ancillary
50.00 sq m 271.00 sq m 190.00 sq m 170.00 sq m 100.00 sq m
35 years from completion until 2045 on a full repairing and insuring lease (2)(3)
£70,000
2015 and 5 yearly
Totals
781.00 sq m
(8,406 sq ft)
£70,000
(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 month’s written notice.(3) The property has been sub-let on a tied lease to an individual.
