07 October 2010

Earl of Essex gains new lease of life

Even before the details were prepared by licensed leisure specialists AG&G, there was considerable interest in Islington’s Earl of Essex pub. Now the freehold has gone to new owners for a sum substantially over the guide price of £925,000 + VAT.

“It’s not a shock,” says AG&G director James Grimes. “It’s in a prime residential location within a conservation area and is near the Upper Street shopping district , Angel Tube station and the City Road Basin, so it has an excellent catchment area.

“Just as we predicted, it’s going to re-open as a gastro pub to serve the area’s foodies. Under its current licence, alcohol may be sold from 11:00 am to 12:30 am every day. It’s been sold to a private couple who we’re sure will make a great success of the venture. Mayor Boris Johnston is a local, so he might become a regular.”

Mid-terraced, the Earl of Essex has three storeys and occupies a site of some 255 square metres, with a building footprint of approximately 160 square metres. The ground floor contains an open plan bar area with central servery, with a partially subdivided games area to the rear of the ground floor.

The first floor provides a kitchen, a lounge, two double bedrooms and a single bedroom. The second floor offers three double bedrooms, a single bedroom and a bathroom. Furthermore, the pub has the benefit of an enclosed trade patio to the rear of the property.

For more information, please contact James Grimes on 020 7836 7826, e-mail jgrimes@agg.uk.com or media@agg.uk.com.

AG&G are chartered surveyors specialising in the licensed leisure industry, with the skill and experience needed to value, assess or promote a property not simply as bricks and mortar but as a business. If it involves the price of a licensed premises, its profitability, rental value, investment prospects or value in a dispute, AG&G can help.

8 Exchange Court,
London, WC2R 0JH