Investment sale in London’s East End
Whilst the rest of the world returns from holiday, AG&G have this month sold the former King Harold Public House (newly named the Leyton Star), Leyton E15, for a net initial yield in the region of 5%. The entire property was let earlier this year, by AG&G, to multi-site operator Electric Star Pubs for a term of 20 years at an initial passing rent of £100,000 per annum. Following significant investment in the property the pub opened for trade less than a month prior to the purchase by the new investor. Savills acted for the purchaser. The sale reflects recent trends witnessed in the market with investors seeking to gain stronger returns from performing property assets than the reducing levels available from alternative investment classes in this current low-yielding, opportunity starved environment.
For further information, contact Oliver Todd or David Gooderham on 020 7836 7826.