17 June 2011

New owner checks in at Dagenham’s Railway Hotel

Like the mode of transport it was designed to support, Dagenham’s Railway Hotel is big, bold and built to impress – which is why it couldn’t fail to catch the eye of an ambitious investor.

After only a relatively short time on the market, the landmark three-storey property has been snapped up by a local buyer keen to make the most of its generous proportions.

“As you would expect from its name, this pub is just a stone’s throw from the local railway station – in this case, Dagenham East Underground Station – and comes with plenty of potential residential accommodation. So it’s got masses of scope for development,” says Panayiotis Themistocli of licensed leisure specialists AG&G, who marketed the property.

“The ground floor will probably continue as some form of commercial space while the upper floors, which already have separate access, will be converted for residential letting. Whatever the new owner decides, the Railway Hotel is likely to remain a feature of the Dagenham landscape for some time to come.”

The Railway Hotel’s building footprint of approximately 380 square metres (4,088 square feet) which provides two bars, a trade kitchen and an office on the ground floor; function room, second kitchen and manager’s flat on the first floor; and 11 bedrooms plus wash room on the top floor. There is also a basement storage area and off-street parking for 12 cars.

The property, which probably dates from around 1885 when the nearby station was opened, was sold off an asking price of £995,000.

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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