13 August 2012

A new place to rest in New Cross

New Cross takes its name from a coaching inn that once provided accommodation for weary travellers, so it’s entirely appropriate that the site of the Walpole pub in New Cross Road is now set to become a 60-bed hotel – the only one in the SE14 postcode.

It was sold off a guide price of £2.25 million by AG&G’s Anthony Alder, to a Middle Eastern investment company.

The pub is an attractive, flat-fronted Victorian building that comes with a beer garden, letting rooms and two neighbouring shops but it was sold with planning permission for a new hotel.

“There’s such strong demand for large plots in central London and it’s close to the terminus of the East London line, near up-and-coming Stratford and with that precious permission, so the potential was clear,” says Anthony.

For more information, contact Anthony Alder on 020 7836 7826, e-mail aalder@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.

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