27 April 2011

Chance for investors to go to the Dogs

Three-storey pubs on the Isle of Dogs with consent for change of use don’t come up for sale very often – so property investors would be barking not to have a sniff around the old Anchor & Hope in Westferry Road, E14.

Planning permission has been granted to convert the property into two units of ground floor retail, topped with a pair of two-bed flats and two studios.

“The Anchor & Hope is a Victorian pub overshadowed by the modern office blocks of Docklands and within easy reach of local rail links. Canary Wharf, which boasts one of the highest average incomes of any area in the UK, is just a few minutes walk away,” says Panayiotis Themistocli of licensed leisure specialists AG&G, who is dealing with the sale.

“And if that isn’t enough to tempt would-be investors, the property comes with planning consent for change of use. I think potential buyers will need to be pretty fast out of the traps to secure this little gem.”

The Anchor & Hope has a footprint of approximately 90 square metres (970 square metres), which covers the entire site. The current rateable value is £6,250. Offers are invited in the region of £900,000 for the freehold.

For more information, contact Panayiotis Themistocli on 020 7836 7826, e-mail pthemistocli@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.

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