Approximately 0.5 miles west of Arsenal Football Club's Emirates Stadium
Let to Enterprise Inns plc until 2045 (subject to option)
5 yearly reviews
Lot 42
Auction 8th July 2010
Rent £65,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Leisure
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Miles
2 miles north of King's Cross
3 miles north of Central London
Roads
A503, A1, A10
Rail
Holloway Road Tube (Piccadilly Line)
Caledonian Road Tube (Piccadilly Line)
Air
City Airport
Situation
The property is situated close to the Nags Head shopping area on the west side of Parkhurst Road (A503) at the junction with Williamson Street in a popular residential area. Parkhurst Road forms part of the main transport route from Central London to the North-East via fashionable Camden Town. The modern Arsenal Football Club Emirates Stadium is approximately 0.5 miles to the east.
Tenure
Freehold.
Location
Miles
2 miles north of King's Cross
3 miles north of Central London
Roads
A503, A1, A10
Rail
Holloway Road Tube (Piccadilly Line)
Caledonian Road Tube (Piccadilly Line)
Air
City Airport
Situation
The property is situated close to the Nags Head shopping area on the west side of Parkhurst Road (A503) at the junction with Williamson Street in a popular residential area. Parkhurst Road forms part of the main transport route from Central London to the North-East via fashionable Camden Town. The modern Arsenal Football Club Emirates Stadium is approximately 0.5 miles to the east.
Tenure
Freehold.
Description
The property comprises a PUBLIC HOUSE on the ground floor with ANCILLARY ACCOMMODATION on first and second 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 the ground floor with ANCILLARY ACCOMMODATION on first and second 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
Review
Basement Ground First Second
Ancillary Public House Ancillary Residential
20.00 sq m (215 sq ft) 157.29 sq m (1,693 sq ft) 157.29 sq m (1,693 sq ft) 91.75 sq m (987 sq ft)
ENTERPRISE INNS PLC (1)
35 years from completion until 2045 on a full repairing and insuring lease (2)(3)
£65,000
2015 and 5 yearly
Totals
426.33 sq m (4,588 sq ft)
£65,000
(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 East Crown Limited.
