The Baring Arms, 55 Baring Street | Property for sale | Savills
Guide price £1,500,000

The Baring Arms55 Baring Street

  • Freehold

Key features

  • Entire Property Investment let at £80,000 p.a.
  • Let on a new 15 year lease from 2022
  • 5 yearly rent review - minimum uplift to £85,000 p.a. at 1st rent review in 2027
  • Period pub situated within attractive and high-value residential area.
  • A dwelling space is located top floor (kitchen, living room and bedroom)
  • Ground floor has been recently modernised - New photos to follow
  • Total GIA an approx. 355 sq m (3,772 sq ft)
  • Enclosed rear Patio area

Of Interest to Investors and Developers. Freehold period pub. Let on a new 10 year lease from 2022. Entire Property Investment let at £80,000 p.a.

About this property

  • An imposing three storey property with a curved frontage built over part basement, beneath a parapet wall. The pub benefits from good levels of natural daylight and good floor to ceiling heights throughout. There is an enclosed rear patio with bench seating for 16 people. The property benefits from a Premises Licence permitting the sale of alcohol from 10:00am until 11:00pm Monday to Saturday and from noon until 10:30pm on Sunday. We have been advised that the new tenant has modernised the ground floor premise (The internal photos being used are old photos apart from the photos labelled 'New Photos') Future development potential to convert the upper floors in residential dwellings (subject to access, existing lease and the requisite consents)

Local information

  • Location:
  • The pub lies within an area administered by the London Borough of Islington near its border with the Borough of Hackney approximately 2.5 kilometres (1.5 miles) north of the City of London (Bank Station).
  • The building fronts Baring Street at its junction of Wilton Square.
  • The Regents Canal and New North Road (A1200) lie circa 150 metres to the south west.
  • The surrounding area comprises predominantly low-rise, attractive period Victorian terraced houses of high value and good quality.
  • Transport:
  • National Rail - Essex Road (Great Northern)
  • Overground - Haggerston
  • Underground - Angel (Northern)

Additional information

  • Accommodation:
  • Basement - Cold beer store and ancillary storage areas.
  • Ground Floor - Open plan trading area decorated in a traditional style, fitted with a single bar servery and a set of customer WC’s.
  • First Floor - Function room, trade kitchen, mechanical hoist, domestic bathroom with separate WC.
  • Second Floor - Two rooms and a domestic kitchen
  • We have been advised that the property has the following approximate gross internal floor areas:-
  • Basement - Approx. 936 sq ft
  • Ground Floor - Approx. 1,130 sq ft
  • First Floor - Approx. 915 sq ft
  • Second Floor - Approx. 807 sq ft
  • Total Area - Approx. 3,772 sq ft
  • Tenancy:
  • Entire property let to T&S Taverns
  • let on a 15 year lease 09/02/2022 (Reversion 28/02/2037
  • Investment let at £80,000 p.a.
  • 5 yearly rent reviews
  • Minimum uplift to £85,000 p.a. in first rent review in 2027
  • The business has received strong reviews in both The Times and The Guardian.
  • Planning:
  • From enquiry of the London Borough of Islington, the property is not listed by English Heritage as being of Special Architectural or Historical Interest, but it does lie within the Arlington Square Conservation Area.
  • Subject to obtaining vacant possession, access, and the requisite consents/planning permission the property may have residential conversion prospects.
  • In terms of residential values locally, our online research via Rightmove shows:
  • No. 57 Baring Street sold in April 2022 for £1,000,000 reflecting a capital value of £1,076 per sq ft.
  • No. 58 Baring Street sold in November 2021 for £1,100,000 reflecting a capital value of £1,145 per sq ft.
  • Notes:
  • Panayiotis Themistocli
  • M: 07973 856 232
  • Please note the site areas provided are approximate. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.