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Prince of Wales 45 Great Queen St 6,846 SF 41% Leased Retail Building London WC2B 5AA $14,879,299 CAD ($2,173.43 CAD/SF) 4% Cap Rate
INVESTMENT HIGHLIGHTS
- Current rent of £340,058 per annum.
- Substantial property arranged over five levels extending to approximately 8,112 sq ft.
- Prime location in the centre of London’s theatreland.
EXECUTIVE SUMMARY
The Prince of Wales is surrounded by the popular tourist destinations of Oxford Street and The British Museum to the north, Covent Garden and The Strand to the south along with Leicester Square, Seven Dials and Piccadilly to the west, each with their own diverse entertainment and retail offering.
The property is held freehold (Title Number 426466).
The entire property is let on a 30 year lease to Spirit Pub Company (Managed) Limited (Company Number 05269240) and guaranteed by Punch Pubs & Co Limited (Company Number 03982441) expiring on 23 June 2034 at a current rent of £340,058 per annum which is subject to an open market review on 25 December 2024 and 2029.
In addition to the statutory right to renew the lease under the Landlord and Tenant 1954 Act, the tenant also has a contractual right to renew the lease for a further 30 years on the same terms.
There is an Authorised Guarantee Agreement from Spirit Managed Inns Limited (Company No. 05266815) and a guarantee of the Authorised Guarantee Agreement from Spirit Intermediate Holdings Limited (Company No. 04914762).
PROPERTY FACTS
AMENITIES
- 24 Hour Access
- Security System
- Signage
- Storage Space
- Air Conditioning
- Smoke Detector
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
The premises occupy a corner position arranged over grd & lower grd floors. Benefiting from a high-quality restaurant fit out, the grd floor provides a fitted bar, dining space for c.60 covers and an open pass fully equipped commercial kitchen. The lower grd floor offers additional seating for c.40 covers, prep kitchen, toilets and storage areas. The premises benefit from outside seating for 8 covers.
| Space | Size | Space Use | Position | Available |
| Ground | 4,028 SF | Restaurant | - | Now |
Ground
| Size |
| 4,028 SF |
| Space Use |
| Restaurant |
| Position |
| - |
| Available |
| Now |
Ground
| Size | 4,028 SF |
| Space Use | Restaurant |
| Position | - |
| Available | Now |
The premises occupy a corner position arranged over grd & lower grd floors. Benefiting from a high-quality restaurant fit out, the grd floor provides a fitted bar, dining space for c.60 covers and an open pass fully equipped commercial kitchen. The lower grd floor offers additional seating for c.40 covers, prep kitchen, toilets and storage areas. The premises benefit from outside seating for 8 covers.
NEARBY MAJOR RETAILERS
Presented by
Prince of Wales | 45 Great Queen St
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