12 November 2014

Thorny issue for the Rose & Crown

When an area is undergoing regeneration and you’ve bought a pub right in the middle of the redevelopment, your best option could well be to wait to see what to do.

That’s exactly the approach of the new owner of the Rose & Crown in Zone 1 Walworth, who has bought the property for more than £800,000 through licenced leisure specialists AG&G.

“There was a huge amount of interest,” says AG&G’ Panayiotis Themistocli. “We received 14 serious offers from investors and developers who were looking at converting or developing the property for alternative uses.

“The winning bidder is an investor/developer who has let the pub to an independent operator while he considers next steps. Whether to keep it as a pub or apply for permission to convert it will be a thorny issue.”

Situated in a heavily residential area but only two miles from Charing Cross in central London, the Rose & Crown is sandwiched between two new developments that will soon add another 375 homes to its catchment area.

For further information, contact Panayiotis Themistocli on 020 7836 7826 or e-mail Panayiotis.themistocli@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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