INVESTORS SEEK LIQUID REFRESHMENT
In a turbulent market, AG&G is pleased to announce the sale of the freehold investment in the Leinster Arms public house, 17 Leinster Terrace, London, W2.
Located within close proximity to Hyde Park, this public house is currently let to Mitchells & Butlers Retail Limited on a 21 year lease expiring 2022 at a rent of £75,000 per annum. The property was sold for princely sum of £1.25 million in a sale to a local investor. The strength of interest was such that contracts were exchanged within 5-days from receipt of the offer.
Anthony Alder, AG&G director, was pleased with the sale and says: “There are very few public house investment transactions that have occurred recently in Central London. The sale price reflects the strength of the Mitchells & Butlers covenant and the prestigious location”.
It also highlights the ability of licensed leisure specialist AG&G to manage such a sale in an increasingly tough environment.