Central London location set to benefit from a £1.5bn, 55 acre regeneration scheme
Significant reversionary value to be realised in 2025
Situated close to the City of London and the cultural hub of the South Bank Arts Centre
Six Week Completion Available
Lot 10
Auction 18th October 2012
Rent £250 per Annum Exclusive
Status Sold
Price £310,000
Sector Leisure
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
1.5 miles from London’s West End, 1 mile from the historic City of London
Roads
A2, A100, A201
Rail
Elephant and Castle Rail Station and London Underground
Station (Bakerloo & Northern Line), Waterloo Rail Station
Air
London City Airport
Situation
The property is situated in a prominent corner position on the junction of Bartholomew Street and Great Dover Street (A2) within Elephant and Castle just south of the River Thames and Tower Bridge. The area is part of a £1.5bn, 55 acre regeneration scheme to improve housing, infrastructure and all local amenities. The property benefits from its close proximity to the historic City of
London business district, The South Bank Arts Centre and the
shopping and business precincts of the West End.
Tenure
Freehold.
Location
Miles
1.5 miles from London’s West End, 1 mile from the historic City of London
Roads
A2, A100, A201
Rail
Elephant and Castle Rail Station and London Underground
Station (Bakerloo & Northern Line), Waterloo Rail Station
Air
London City Airport
Situation
The property is situated in a prominent corner position on the junction of Bartholomew Street and Great Dover Street (A2) within Elephant and Castle just south of the River Thames and Tower Bridge. The area is part of a £1.5bn, 55 acre regeneration scheme to improve housing, infrastructure and all local amenities. The property benefits from its close proximity to the historic City of
London business district, The South Bank Arts Centre and the
shopping and business precincts of the West End.
Tenure
Freehold.
Description
The property comprises a public house over ground floor and basement and benefits from residential accommodation on the first and second floors accessed both internally and externally. The residential accommodation currently comprises 3 bedrooms, kitchen and WC facilities on each floor.
VAT
VAT is not 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 over ground floor and basement and benefits from residential accommodation on the first and second floors accessed both internally and externally. The residential accommodation currently comprises 3 bedrooms, kitchen and WC facilities on each floor.
VAT
VAT is not 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
Reversion
Ground Basement First Second
Public House Ancillary Residential Residential
180.42 sq m 93.67 sq m 81.03 sq m 65.65 sq m
1,942 sq ft 1,008 sq ft 872 sq ft 707 sq ft
ENTERPRISEINNS PLC (1)(2)
90 years from 29/09/1935
£250
28/09/2025
Totals
420.77 sq m
(4,529 sq ft) (3)
£250
1) Enterprise Inns Plc is one of the UK’s leading operators of leased and tenanted pubs, with well over 6,000 outlets. For the year ending 30th September 2011, Enterprise Inns Plc reported a turnover of £711,000,000, EBITDA of £366,000,000 and a pre-tax profit before exceptional items of £177,000,000. (Source: Company Website Financial Summary 24/08/2012) (2)The entire property has been sublet to Haci-Ali Yilmaz for a term of 20 years, expiring on 25th September 2025. A copy of the sublease is available within the legal documents. (3)The property has been measured on a gross internal basis.
