07 October 2013

Great location triggers bidding war for Marylebone pub

Location, location, location – the mantra certainly applies to pubs, even if they are destined for a new life as a house, as the Swan & Edgar in Marylebone shows.

It has sold through boutique licensed leisure agency AG&G for significantly above it’s £650,000 asking price, after 90 potential bidders attended three open viewing sessions. Around a third of them made offers.

“The Swan & Edgar is almost certainly going back to its beginnings, as we believe it started life as a house, although it’s been a pub since at least 1910,” says James Grimes, AG&G.

“The big attraction is its excellent location in a quiet street near two Tube stations and Regent’s Park and in the Dorset Square conservation area. It’s an elegant London brick end-of terrace building with a small but useable courtyard.”

“It’s no surprise that it’s ended up with a small developer who plans to turn it into a house, subject to permissions.”

For the near-million pound price, the new owner gets 1,337 square feet of interior set over four floors, including basement. As currently configured, the pub has one room each on the ground and first floors, both used for gastro pub dining, with a corner servery on the ground floor. The second floor has a large hallway and room.

For further information, contact James Grimes on 020 7836 7826 or e-mail jgrimes@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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