04 April 2013

Hot Clapham property gives investor a warm feeling

Clapham’s Mongolian Grill is known for its bargain prices and hot-pot meals that you cook at the table and share – but that’s not the only thing giving the building’s new owner a warm feeling. The investor has secured a 136 square metre (1,463 square foot) piece of prime South London real estate delivering a net yield of approximately 6.8 per cent after costs.

“We completed the sale of this former pub just before Easter off a guide price of £475,000,” says Michael Penfold of licensed leisure specialists AG&G, who assisted with the sale.

“It’s an attractive, period building in Clapham Old Town, so not surprisingly it generated a fair bit of interest. We had around a dozen offers in all”.

The detached two storey plus basement building is on North Street, within easy walking distance of the common, Clapham Old Town and the local underground station. The Mongolian Grill bar and restaurant is on the ground floor, with an office and residential accommodation above.

It was sold as a freehold investment with an occupational lease running until December 2023. The passing rent is £34,000 per annum with rent reviews every three years.
For more information, contact Michael Penfold on 020 7836 7826, e-mail michael@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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