28 June 2012

Baker’s dozen of would-be buyers for Kingston pub with potential

We’re all familiar with the irritations of telephone tennis – you leave a message, the person you’re trying to reach leaves another one and it takes forever to speak. Then, finally, the conversation takes just a few minutes.

The sale of the Alexandra in Kingston has been a similar story, with two buyers encountering difficulties. Finally, licensed leisure specialists AG&G put it back on the open market, received 13 offers – all but three over the £1.6 million asking price – and exchanged within three hours of issuing contracts.

The pub, a handsome Victorian building with a two storey former stable block housing the trade kitchen on one side and a single storey extension on the other, plus a 30-space car park, is just yards from the Kingston gate to Richmond Park.

“Given that the Alexandra is in a great position, on a large plot of around a third of an acre and has clear potential for redevelopment or another building in the grounds, we weren’t surprised that it attracted a lot of interest,” says AG&G’s James Grimes.

The buyer, an investor/developer, is now considering the options.

For more information, 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