Less than 1 mile from the Arsenal Football Club Emirates Stadium
Let to Enterprise Inns plc until 2045 (subject to option)
5 yearly rent reviews
Six Week Completion Available
Lot 35
Auction 8th July 2010
Rent
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 mile north of The Angel Islington
2 miles north of the City of London
Roads
A1, A10, A501 (Inner Ring Road)
Rail
Highbury & Islington Rail/Tube (Victoria Line)
Air
City Airport
Situation
The property is situated on the west side of the fashionable Upper Street (A1), at the junction with Laycock Street, immediately south of the busy Highbury Corner Junction and less than 1 mile south of Arsenal Football Club's Emirates Stadium. Highbury and Islington Station is some 100 metres to the north. Nearby occupiers include Oddbins, KFC, William Hill and Barclays Bank.
Tenure
Freehold.
Location
Miles
1 mile north of The Angel Islington
2 miles north of the City of London
Roads
A1, A10, A501 (Inner Ring Road)
Rail
Highbury & Islington Rail/Tube (Victoria Line)
Air
City Airport
Situation
The property is situated on the west side of the fashionable Upper Street (A1), at the junction with Laycock Street, immediately south of the busy Highbury Corner Junction and less than 1 mile south of Arsenal Football Club's Emirates Stadium. Highbury and Islington Station is some 100 metres to the north. Nearby occupiers include Oddbins, KFC, William Hill and Barclays Bank.
Tenure
Freehold.
Description
The property comprises an ATTRACTIVE PUBLIC HOUSE on ground and first floors. There is ANCILLARY ACCOMMODATION on second floor and residential accommodation on the third floor.
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 an ATTRACTIVE PUBLIC HOUSE on ground and first floors. There is ANCILLARY ACCOMMODATION on second floor and residential accommodation on the third floor.
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
Basement Ground First Second Third
Ancillary Public House Public House Ancillary Residential (3 Rooms, Kitchen, Bathroom)
104.26 sq m 110.75 sq m 76.45 sq m 72.69 sq m 61.13 sq m
35 years from completion until 2045 on a full repairing and insuring lease (2)(3)
£80,000
2015 and 5 yearly
Totals
425.28 sq m
(4,577 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 Numb Music Productions Limited.