The Oliver Conquest
70 Leman Street
London
E1 8EU

Attractive Central London Public House Investment

  • Let on a New lease until 2031(No Tenant Break Options)
  • Attractive City of London fringe Public House with Residential 2nd floor.
  • Close to Tower of London and the heart of the City of London
  • Directly Opposite Unite Student Halls (617 rooms)
  • Annual Rental increases by £15,000pa to £165,000 pax
  • Outside the Landlord & Tenant Act 1954 with Landlords Option to break
  • Lot
    38
  • Auction
    04/Nov/2021
  • Rent
    £90,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £1,950,000
  • Sector
    Leisure
  • Auction Venue
    Live Streamed Auction
  • The  Oliver Conquest, 70 Leman Street, London, E1 8EU
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
500 metres north of the Tower of London
100 metres east of the City of London
Roads
A13, A1203
Rail
Aldgate East Underground Station, Tower Hill Underground Station, Liverpool Street Mainline and Underground Station, Fenchurch Street Mainline Station, Tower Gateway DLR Station
Air
London City Airport, London Heathrow Airport
Situation

Leman Street (A1202) is immediately east of the City of London and runs from Aldgate, one of the City of London's 7 historic gates to the Tower of London and St Katherine Dock to the south. The City of London's important City Tower cluster, with its skyscrapers including the Gherkin, The Cheesegrater, Twentytwo and Heron Tower are closeby to the east. The immediate locality has seen massive recent investment with a large number of new residential developments providing thousands of new high end residential flats.

The property is situated on the west side of Leman Street directly opposite Unite Student halls providing accommodation for 617 students and immediately adjacent to a major London Police Station.

Tenure

Freehold.

Description

The property comprises a Grade 2 Listed period public house building with Public House accommodation on the ground floor and First floor and ancillary accommodation in the basement. The second floor provides 4 room residential accommodation.
For a virtual tour please click here - https://my.matterport.com/show/?m=mBPh2LRepje

VAT

VAT is applicable to this lot.

Planning

The property is Grade 2 Listed but is not situated within a Conservation area. The property does not appear on the London Borough of Towers Hamlets register of Assets of Community Value that is published at https://www.towerhamlets.gov.uk/lgnl/community_and_living/community_right_to_bid.aspx

EPC

Band 'C'. See legal pack

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews/(Reversion)
Basement
Ground
First
Second
Ancillary
Public House
Public House
Residential
68.20 sq m
111.20 sq m
98.40 sq m
82.50 sq m
(734 sq ft)
(1,197 sq ft)
(1,059 sq ft)
(734 sq ft)
INDIVIDUAL
t/a The Oliver Conquest PH
10 Years from
21st September 2021
until 2031 on full
repairing and insuring
lease (1)
£90,000
rising by
£15,000pa
to £165,000
£15,000 annual rent
increases for the first
6 years until the rent
reaches £165,000pax
(21/09/2031)
Total Approx
Floor Area
 360.30sq m(3,878sq ft)  £90,000
rising by
£15,000pa
to £165,000
 

(1) The lease is outside of the Security of Tenure provisions of the Landlord and Tenant Act 1954 and provide for a landlord rolling option to determine the lease on serving no less than 6 month written notice. The Seller is holding a rent deposit of £22,500 plus VAT.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Site Plan
    Updated Date
    20.10.21
    File Size
    814 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Associate Auctioneers
AG & G 8 Exchange Ct
London
WC2R 0JH
Panayiotis Themistocli 07973 856 232Panayiotis.Themistocli@agg.uk.com
Seller's Solicitors
Gunnercooke LLP 1 Cornhill
London
EC3V 3ND
Sam Rosenthal 07941613379sam.rosenthal@gunnercooke.com

Useful Links

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