Pub in the City of London

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Pub in the City of London

19,265,000 €
39,558 € /m²
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  • Total area
    487 m²
  • Yield
    4.0%
Details
Property parameters
  • 5-floor building
Financial performance
  • Annual income: 789,507 €
Tenants
  • Fully let
Property status
  • Most recent total renovation: 2012
Features
  • Street retail

It is a pub in Soho, one of the most prestigious areas of London.

Description

The total area of the five-storey building with a basement is 487 m².

The property was renovated in 2012 and now is in excellent condition.

The ground floor accomodates main trading areal with a mix of seating around the main bar servery.

The first floor provides a restaurant with its own bar servery, as well as WCs for visitors.

The second floor has a kitchen, office and store room.

The third floor includes a staff room, living room, kitchen, bathroom and WC.

The upper floor accomodates three bedrooms, bathroom and WC.

There is a beer cellar, storage room and WCs for visitors in the basement.

Tenure: Freehold.

The property is fully leased out to a major tenant.

Financial performance

Absolute income is 663,451 £.

The current yield of 4%.

Transaction costs of 6,74%.

Tenants

The tenant is Spirit Pub Company, which together with Greene King Plc is the largest UK managed pub company.

The merged company operates under several brands and has more than 3,000 public houses in the UK.

The company's revenues in the last year exceeded £ 10 million.

Non-terminable lease agreement is valid until 2044.

Location and nearby infrastructure

The property is situated near the shops, restaurants and offices of major international companies.

Public transport and metro stations are within the walking distance.

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