Savills, on behalf of a private client, is marketing the freehold investment of The Eel Pie, a landmark public house at 9-11 Church Street in Twickenham, for offers of in excess of £3,870,000, which reflects a Net Initial Yield of 4.25%.
The property is arranged over four levels extending to 6,749 sq ft (627.2 sq m), with ground, basement and two upper floors, as well as external seating fronting Church Street held by way of a pavement licence.
The entire property is let to Hall & Woodhouse Limited on a lease expiring 5th February 2050 at a rent of £175,000 per annum. Hall & Woodhouse Limited were founded in Dorset in 1777 and currently own and operate 250 pubs across London, the Southcoast and home counties. The business will remain unaffected by the sale.
The property is situated in a prime location in the heart of Twickenham, the home of England’s Rugby Football Union. The surrounding area also benefits from a number of public parks, along with the famous Eel Pie Island, which is home to a number of rowing clubs, boat yards, private houses and artists’ studios.
Stuart Stares, Director in the Licensed Leisure team at Savills, says: “Despite economic headwinds, the London leisure and hospitality sector remains very robust, and we are continuing to see strong consumer demand. The Eel Pie offers a unique opportunity for investors seeking defensive assets, which are let to an established operator.”