The Birdcage Public House 58 Stamford Hill, Stoke Newington London N16 6XS

The Birdcage Public House
58 Stamford Hill, Stoke Newington
London
N16 6XS

Freehold Public House Investment

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
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

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Freehold Public House Investment

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

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	(538 sq ft) (2,917 sq ft) (2,045 sq ft) (1,830 sq ft) (1,076 sq ft)	ENTERPRISE INNS PLC (1)	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.