The Walrus Social 172 Westminster Bridge Road London SE1 7RW

The Walrus Social
172 Westminster Bridge Road
London
SE1 7RW

Freehold Public House Investment

Let to Enterprise Inns plc until 2046 (subject to option)
Prominent corner position
500 metres from the South Bank of the River Thames and London Eye
1.5 miles from City of London
Next to Waterloo International Railway Station
5 yearly rent reviews

Lot
13
Auction
22nd February 2011
Rent
£60,000 per Annum Exclusive
Status
Sold
Price
£915,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of Enterprise Inns plc

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Freehold Public House Investment

Let to Enterprise Inns plc until 2046 (subject to option)
Prominent corner position
500 metres from the South Bank of the River Thames and London Eye
1.5 miles from City of London
Next to Waterloo International Railway Station
5 yearly rent reviews

Lot 13
Auction 22nd February 2011
Rent £60,000 per Annum Exclusive
Status Sold
Price £915,000
Sector
Leisure
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of Enterprise Inns plc

Property Information

Location

Miles: 1.5 miles south of City of London; 500 metres from the South Bank/River Thames and London Eye
Roads: A23, A3, A202, A2, A215
Rail: Lambeth North Tube (Bakerloo Line), Waterloo Overground/Tube (Northern, Bakerloo and Jubilee lines)
Air: City Airport

Situation

The property occupies a prominent corner position on the north side of Westminster Bridge Road (A23) at the junction with Lower Marsh. The South Bank/River Thames, with major tourist attractions including the iconic London Eye, is some 500 metres to the west. Waterloo International Railway Station, a major transport hub, is immediately to the north of the property.

Tenure

Freehold.

Location

Miles: 1.5 miles south of City of London; 500 metres from the South Bank/River Thames and London Eye
Roads: A23, A3, A202, A2, A215
Rail: Lambeth North Tube (Bakerloo Line), Waterloo Overground/Tube (Northern, Bakerloo and Jubilee lines)
Air: City Airport

Situation

Tenure

Freehold.

Description

The property comprises a PUBLIC HOUSE on the ground and first floor and RESIDENTIAL ACCOMMODATION on second, third and fourth floors. There is ANCILLARY ACCOMMODATION in the basement.

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 and first floor and RESIDENTIAL ACCOMMODATION on second, third and fourth floors. There is ANCILLARY ACCOMMODATION in the basement.

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 Fourth	Ancillary Public House Public House Residential Residential Residential	70.00 sq m 70.00 sq m 70.00 sq m 49.00 sq m 49.00 sq m 49.00 sq m	(750 sq ft) (750 sq ft) (750 sq ft) (527 sq ft) (527 sq ft) (527 sq ft)	ENTERPRISE INNS PLC (1)	35 years from completion until 2046 on a full repairing and insuring lease (2)(3)	£60,000	2016 and 5 yearly
Totals		357.00 sq m	(3,831 sq ft)			£60,000

(1) Enterprise Inns plc is one of the UK’s leading operators of leased and tenanted pubs, with over 6,800 outlets. For the year ended 30th September 2010, Enterprise Inns plc reported a turnover of £753,000,000, EBITDA of £405,000,000, a pre-tax profit before exceptional items of £175,000,000 and net assets of £1,407,000,000. (Source: Company Website Year End Report)
(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 Mr T Stevens.