Let to Greene King Neighbourhood Estate Pubs Limited - a part of Greene King Plc - on a 99 year lease until March 2036
Valuable freehold reversion in approximately 20 years
Excellent location in popular south-west London suburb
Nearby retailers include Topshop, H & M, Sainsbury’s, Boots the Chemist, WH Smith, Poundland and Superdrug
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 22
Auction 13th October 2016
Rent £135 per Annum Exclusive
Status Sold
Price £625,000
Sector Ground Rent
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
300m from Brixton Underground Station, 3.5 miles south-west of Central London
Roads
A3, A202
Rail
Brixton Underground (Victoria Line) and Rail Station
Air
London Airports: City (8 miles), Heathrow (15 miles), Gatwick (21 miles)
Situation
The property is situated in a prominent location on the north side of Coldharbour Lane (A2217) between its junctions with Electric Lane and Rushcroft Road. The property is located in a popular restaurant/bar destination with nearby restaurants including Franco Manca, CHICKENLiquor and a number of independent occupiers. Nearby retailers include Topshop, H & M, Sainsbury's, Boots the Chemist, WH Smith, Poundland and Superdrug. The property fronts the popular Brixton Village & Market Row markets.
Tenure
Freehold.
Location
Miles
300m from Brixton Underground Station, 3.5 miles south-west of Central London
Roads
A3, A202
Rail
Brixton Underground (Victoria Line) and Rail Station
Air
London Airports: City (8 miles), Heathrow (15 miles), Gatwick (21 miles)
Situation
The property is situated in a prominent location on the north side of Coldharbour Lane (A2217) between its junctions with Electric Lane and Rushcroft Road. The property is located in a popular restaurant/bar destination with nearby restaurants including Franco Manca, CHICKENLiquor and a number of independent occupiers. Nearby retailers include Topshop, H & M, Sainsbury's, Boots the Chemist, WH Smith, Poundland and Superdrug. The property fronts the popular Brixton Village & Market Row markets.
Tenure
Freehold.
Description
The property comprises a public house on ground floor, with ancillary accommodation at basement level and self-contained residential accommodation at the first and second floors. Access to the residential part is from Coldharbour Lane and the property benefits from a beer terrace to the rear of the ground floor.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a public house on ground floor, with ancillary accommodation at basement level and self-contained residential accommodation at the first and second floors. Access to the residential part is from Coldharbour Lane and the property benefits from a beer terrace to the rear of the ground floor.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
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
Reversion
Ground Basement First Second
Public House/AncillaryCellar Residential/Ancillary - 2 rooms, kitchen and office Residential - 4 rooms, bathroom & WC Ancillary
146.41 sq m 59.22 sq m 57.13 sq m 59.36 sq m
(1,576 sq ft) (637 sq ft) (615 sq ft) (639 sq ft)
GREENE KING NEIGHBOURHOOD ESTATE PUBS LIMITED (1)
99 years from 25/03/1937 on a full repairing and insuring lease
£135
25/03/2037
Total
322.08 sq m
(3,467 sq ft)
£135
(1) Greene King were founded in 1799 and are now the leading pub operator in the UK, running over 3,000 pubs nationwide. Greene King is made up from a number of different brands including Hungry Horse, Chef & Brewer, Farmhouse Inns and Flaming Grill as well as Greene King Local Pubs. For the year ending 3rd May 2015, Greene King Neighbourhood Estate Pubs Limited reported pre-tax profits of £7,632,000 and a total net worth of £465,587,000 - Greene King Neighbourhood Estate Pubs Limited's ultimate holding company is Greene King Plc. (Sources: www.greeneking.co.uk and Experian Group 01/09/2016).
