Let to Enterprise Inns plc until 2045 (subject to option)
5 yearly reviews
Six Week Completion Available
Lot 15
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
1.5 miles north-west of London's West End
1 mile north of Holland Park
Roads
A40, A404, A219
Rail
Ladbroke Grove Tube (Hammersmith & City Line)
Air
City Airport, Heathrow Airport
Situation
The property is situated on the west side of the fashionable Ladbroke Grove at the junction with Bruce Close and close to the famous Portobello Road. The highly affluent Notting Hill is immediately to the south.
Tenure
Freehold.
Location
Miles
1.5 miles north-west of London's West End
1 mile north of Holland Park
Roads
A40, A404, A219
Rail
Ladbroke Grove Tube (Hammersmith & City Line)
Air
City Airport, Heathrow Airport
Situation
The property is situated on the west side of the fashionable Ladbroke Grove at the junction with Bruce Close and close to the famous Portobello Road. The highly affluent Notting Hill is immediately to the south.
Tenure
Freehold.
Description
The property comprises a PUBLIC HOUSE on ground floor with ANCILLARY AND RESIDENTIAL ACCOMMODATION on the first and second floors. The basement comprises a BEER CELLAR.
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 ground floor with ANCILLARY AND RESIDENTIAL ACCOMMODATION on the first and second floors. The basement comprises a BEER CELLAR.
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
Cellar Ground First Second
Ancillary Public House Residential (3 Rooms, Kitchen and Bathroom) Residential (4 Rooms and Bathroom)
35 years from completion until 2045 on a full repairing and insuring lease (2)(3)
£80,000
2015 and 5 yearly
Totals
521 sq m
(5,608 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 Figueiredo E Filha Limited.
