SIMMONS BAR, WC2 (business not affected)

01 September 2017

Dear Sir / Madam,

Please follow the below link for details of a central London freehold investment opportunity let to Simmons Bars (http://www.simmonsbar.co.uk/). The property is available freehold subject to lease (business not affected).

The whole building is let for a term of 20 years expiring May 2037 with a passing rent of £170,000 per annum and annual rental increases linked to RPI. The lease also has five yearly upward only rent reviews to the higher of the open market rental value or indexation by RPI.

The property is ideally located within 1,000 metres of Covent Garden, Charing Cross and Leicester Square. Situated in the heart of central London, the property is just moments from the River Thames, the Houses of Parliament and Trafalgar Square.

Simmons Bars currently operate 12 premises in London including venues in Soho, Liverpool Street, Fitzrovia and Kings Cross. The lease is subject to a parent company guarantee and a rent deposit of £102,000.

We are instructed by the vendor to seek offers in the region of £4,000,000 (subject to contract) reflecting a net initial yield of 4.0% assuming standard purchaser’s costs.

If you have any questions, please contact Michael Penfold on 020 7836 7826 or michael.penfold@agg.uk.com

Regards,

AG&G

Simmons Bar
Region: London
Tenure: Freehold
Price: Offers Invited