Leasehold Pub near The Oval Cricket Ground Kennington For Sale

Business description

Substantial, detached Victorian-style pub close to the Oval Cricket Ground in an area currently undergoing residential re-development. Main bar with central servery, Trade garden with smoking facility, spacious living accommodation with up to 7 bedrooms offering B&B potential. Established trade achieving c200K pa with 200 barrels.

Property information

Property:

Leasehold

Lease terms:

20 Year Punch Lease from December 2005, FRI, part-tied, current rent £27,500 with 5 yearly reviews.

Living accommodation:

First Floor: 2 bedrooms, kitchen, bathroom, small office Second Floor: 5 further bedrooms

Location:

The Black Prince, Black Prince Road, Kennington, London SE11 6HS is prominently situated just a few metres from the junction of Kennington Lane and Kennington Road. The pub is surrounded by residential properties and there is a major re-development scheme taking place which will provide 130 new private flats.

Other information

Expansion potential:

There is an opportunity to create some letting bedrooms subject to the necessary consents being obtained. The pub could also serve some basic food by utilising the first floor kitchen.

Competition / Market:

There are bustling pubco units within a few hundred metres but the Black Prince is one of the few remaining traditional locals in the area.

Support & training:

Our client will help all he can between exchange of contracts and completion.

Reasons for selling:

Change of direction.

Trading hours:

Mon-Thurs: 10am-Midnight; Fri-Sat: 10am-1am; Sun: 12-11pm

Financing available:

Our brokers will discuss funding this pubco lease.

Inventory / Stock value:

£3,000

Contact the seller

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