Lot 18 The Angel of Bow, 171-173 Devon's Road, Tower Hamlets, E3 3QX

Property Enquiries

Mat Harris

mat.harris@bidx1.com
07732681152
07732681152

Property Enquiries

Simon Bailey

simon.bailey@bidx1.com
+44 (0) 7732 681 156

Viewing/ Registration Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401
Description
Map
Viewings

Property Summary
  • Leasehold pub/restaurant investment
  • Vacant first floor - 6 room/kitchen/reception/WC/two shower rooms
  • Asset management opportunities
  • Freeholder Tower Hamlets
  • Currently producing £19,200 per annum (part vacant)
Tenure

Leasehold. The property is held on 2 leases each for a term expiring 24th June 2036 (thus having approximately 16 years unexpired) at a fixed ground rent of £79 per annum.

Location

The property is located on the south side of Devons Road (B140) opposite its junction with Whitethorn Street. The pub is surrounded by a lot of residential property providing a strong footfall. Devons Road DLR Station is located within a short walk to the east with Bromley-by-Bow Underground Station to the east and providing access to Circle, District and Hammersmith & City Lines. Mile End Road (A11), Abbott Road (A12) and Commercial Road (A13) all give direct access to the City and Central London.

Description

The property comprises a detached building arranged over basement, ground and first floors beneath a pitched roof. The property is internally arranged to provide a basement/ground floor public house and restaurant together with vacant self-contained first floor rooms above which is accessible via a side gate to the left hand side of the property. The basement is about 69.5 sq m (748 sq ft) and the ground floor about 171.3 sq m (1,844 sq ft). The vacant first floor consists of six rooms, kitchen, shower room with WC, and further shower room with separate WC (A floor plan is available in the legal pack). There is also a very large loft (not inspected). The pub is up and trading.

Accommodation

Planning

London Borough of Tower Hamlets (020 73645009) www.towerhamlets.gov.uk

VAT
VAT is applicable to this sale, please refer to the legal documents for further details.
Property Table
AddressAccommodationTenancyRent per annum
The Angel BowGround 171.3 sq m (1,844 sq ft)
Basement
18 years from 23/11/2016 let to The Angelic Pub Company Limited£19,200
First floor6 rooms, kitchen/reception, X2 shower roomsVacantVacant (*1)

(*1) The first floor does not form part of the ground floor occupational lease. Measurements provided by the vendor.

 


*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
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  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,750 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
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Contact Mat about this property