Heathcote Arms, Leytonstone, E11

20 February 2018


Dear Sir / Madam,

Please follow the below link for details of the above property which is available freehold subject to lease.

This attractive corner property has a gross internal area of approximately 1,056 sq m (11,372 sq ft) and a site area of 1,126 sq m (12,127 sq ft) including a large trade garden.

The whole building is let to Genius Star Limited (multi-site pub operator) for a term of 20 years from August 2017. The commencing rent is £155,000 per annum increasing to £185,000 per annum over the first five years.

The lease is subject to a personal guarantee and a rent deposit of £93,000 (gross). The Tenant, Genius Star Ltd, is linked to Electric Star Pubs (http:// electricstarpubs.co.uk/). They currently operate five pubs in east and north London.

Customer inspection is strongly recommended as the tenant has completed an extensive refurbishment of the pub at a cost of approximately £400,000. The tenant has future plans to open a hotel in the upper floor accommodation (subject to necessary consents).

We are instructed by the vendor to seek offers in excess of £3,000,000 (subject to contract) reflecting an average yield of 5.23% over the first five years (assuming standard purchaser’s costs) and a capital value equating to £264 per sq ft based upon the guide price.

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



Heathcote & Star, Leytonstone (business not affected)
Region: London
Tenure: Freehold
Price: Offers in excess of £2,900,000