THE BARLEY MOW 8 DORSET STREET, LONDON W1

“The oldest pub in Marylebone”

FREEHOLD LEISURE INVESTMENT OPPORTUNITY FOR SALE

www.rib.co.uk

INVESTMENT SUMMARY• Prime Marylebone building, situated on a prominent corner position on Dorset Street.

• Currently let on assignment to ‘The Barley Mow Pub Ltd’ on a lease expiring in April 2030. The passing rent is £80,000 per annum with an uncapped rent review (April 2020) to the higher of the open market rent or R.P.I. There is further Ground Rent income of £450.00 per annum from the flats on the upper floors. The total current income is £80,450 per annum..

• Arranged over ground and lower ground floors with a total area of 2,470 sq. ft. (229.5 sq. m).

• Freehold

• Offers in excess of £1,700,000, reflecting a net initial yield of 4.46%, and a low capital value of £688 per sq. ft. before taking into account the index linked review in April 2020, which we calculate to be a minimum of *£92,450 per annum. This will take the reversionary yield to a minimum of 5.12%.

• Reported to be the “Oldest Public House in Marylebone”

LOCATION The property is situated on a prominent corner position of Dorset Street and Kenrick Place, off Baker Street.

Marylebone is one of the London’s most prestigious and historic locations, within close proximity of Regents Park, Marylebone High Street and Chiltern Street. The surrounding locale is a preferred location for office occupiers, retailers and residents alike.

The property benefits from excellent communications with Baker Street, Marylebone, Regent’s Park and Bond Street stations located within close proximity.

DESCRIPTION The property comprises a Grade II listed building of brick construction arranged over lower ground and ground floors. The residential upper parts have been sold off.

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PROPOSAL We are instructed to seek offers in excess of £1,700,000 which represents a net initial yield of 4.46% and a low capital value of £688 per sq. ft.

We calculate that the April 2020 RPI rent review will be a minimum of *£92,450 per annum, which will take the reversionary yield to a minimum of 5.12%.

Floors Area (sq. ft.)

Lower Ground 954

Ground 1,516

Total 2,470

TENURE

TENANCY

GROUND RENT

VAT

ACCOMMODATION

Freehold.

Current rent receivable £450.00 per annum.

The property is elected for VAT and therefore VAT will be payable on the purchase price.

EPC

TOTAL RENTAL

To be provided.

£80,450 per annum exclusive.

The floor areas have been supplied by the vendor and are subject to verification.

The occupational lease is for a term of 20 years from April 2010 and was assigned in 2012 to The Barley Mow Pub Limited, who supplied a six month rent deposit. The current passing rent is £80,000 per annum. There are further reviews in April 2020, 2025 and 2029. The rent is to be reviewed to the higher of the Open Market Rent or the Retail Price Index.

VIEWING

Daniel Freedman danielf@rib.co.uk T: 0207 927 6334

Damien Field damien@rib.co.uk T: 0207 927 0620

www.rib.co.uk

For further information or to arrange a viewing,

please contact the sole agents Robert Irving Burns:

Misrepresentation Act. 1967. These particulars are intended only to give a fair

description of the property and do not form the basis of a contract or any part thereof.

These descriptions and all other information are believed to be correct but their accuracy

is no way guaranteed.

* Prospective purchasers are advised to verify this information for themselves.