12 June 2012

Waxing lyrical in Soho

In the heart of the West End, Waxy O’Connor’s in Soho’s Rupert Street is London’s flagship Irish pub and one of the largest Irish-themed outlets in the city. It’s a complex of four bars over six levels, each with a distinct personality – and Glendola Leisure, who’ve operated it since 1997, have just renewed the lease with the help of licensed leisure specialists AG&G.

“It’s a hugely successful and established business covering a lot of space in an expensive area. It is also a business with a huge amount of goodwill and has high overheads, so the rent has to be affordable. At the same time, the West End of London is experiencing huge demand for sites, with rental levels being buoyed by demand from international restaurant and bar operators. Despite evidence immediately across the road on a similar sized basement unit at almost £60 per sq ft, I was delighted to secure a rent at less than £40 per sq ft on Waxy’s. This will help to maintain the long-term viability of this great business,” says AG&G director Anthony Alder.

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