The Library 235 Upper Street Islington London N1 1RU

The Library
235 Upper Street
Islington
London
N1 1RU

Freehold Public House Investment

On the Instructions of Enterprise Inns plc
Fashionable North London location
Less than 1 mile from the Arsenal Football Club Emirates Stadium
Let to Enterprise Inns plc until 2045 (subject to option)
5 yearly rent reviews
Six Week Completion Available

Lot
35
Auction
8th July 2010
Rent
£80,000 per Annum
Status
Sold
Price
£1,140,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

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Freehold Public House Investment

On the Instructions of Enterprise Inns plc
Fashionable North London location
Less than 1 mile from the Arsenal Football Club Emirates Stadium
Let to Enterprise Inns plc until 2045 (subject to option)
5 yearly rent reviews
Six Week Completion Available

Lot 35
Auction 8th July 2010
Rent £80,000 per Annum
Status Sold
Price £1,140,000
Sector
Leisure
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

Property Information

Location

Miles: 1 mile north of The Angel Islington; 2 miles north of the City of London
Roads: A1, A10, A501 (Inner Ring Road)
Rail: Highbury & Islington Rail/Tube (Victoria Line)
Air: City Airport

Situation

The property is situated on the west side of the fashionable Upper Street (A1), at the junction with Laycock Street, immediately south of the busy Highbury Corner Junction and less than 1 mile south of Arsenal Football Club's Emirates Stadium. Highbury and Islington Station is some 100 metres to the north. Nearby occupiers include Oddbins, KFC, William Hill and Barclays Bank.

Tenure

Freehold.

Location

Miles: 1 mile north of The Angel Islington; 2 miles north of the City of London
Roads: A1, A10, A501 (Inner Ring Road)
Rail: Highbury & Islington Rail/Tube (Victoria Line)
Air: City Airport

Situation

Tenure

Freehold.

Description

The property comprises an ATTRACTIVE PUBLIC HOUSE on ground and first floors. There is ANCILLARY ACCOMMODATION on second floor and residential accommodation on the third floor.

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 an ATTRACTIVE PUBLIC HOUSE on ground and first floors. There is ANCILLARY ACCOMMODATION on second floor and residential accommodation on the third floor.

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 Public House Ancillary Residential (3 Rooms, Kitchen, Bathroom)	104.26 sq m 110.75 sq m 76.45 sq m 72.69 sq m 61.13 sq m	(1,122 sq ft) (1,192 sq ft) (823 sq ft) (782 sq ft) (658 sq ft)	ENTERPRISE INNS PLC (1)	35 years from completion until 2045 on a full repairing and insuring lease (2)(3)	£80,000	2015 and 5 yearly
Totals		425.28 sq m	(4,577 sq ft)			£80,000

(1)Enterprise Inns plc is one of the UK's leading operators of leased and tenanted pubs with 7,399 outlets, as at September 2009. For the year ended 30th September 2009, Enterprise Inns plc reported revenue of 818m, EBITDA of 445m, pre-tax profit before exceptional items of 208m and net assets of 1.365bn. (Source: Annual Report & 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 Numb Music Productions Limited.