Gallions Hotel Gallions Rd 12,846 SF 100% Leased Retail Building London E16 2QS $4,634,622 CAD ($360.78 CAD/SF)

We are instructed to invite offers in region of £2,500,000 plus VAT, if applicable, for the long leasehold interest which will be sold subject to and with the benefit of the occupational leases which are in place.
Tenure: The property is held on a lease from the Greater London Authority (Title Number TGL361214) for a term of 200 years from 31 March 2003 providing an unexpired term of 177 years. The rent is one peppercorn.
Tenancy: The pub which occupies most of the the ground floor and part of the first floor will be let to Gallions Hotel Limited at a rent of £33,000 per annum, for a term of 12 months. The agreement will be drafted outside of the security of tenure provisions of The Landlord & Tenant Act 1954.
The gym in the basement is occupied under a rolling licence by the existing operator, at a rent of £20,200 plus VAT per annum.
The upper floors are currently vacant and will be sold with vacant possession.
Description:
Gallyons Bar & Kitchen occupies a prominent position at the centre of the Royal Albert Wharf development, at the centre of an amphitheatre-style depression. It overlooks an outdoor public space with a playground and has frontage on Basin Approach, Gallions Road, and Albert Basin Way, as well as a pedestrian right of way to the rear.
The property, which was built in the 1880's specifically to accommodate Captains and passengers joining the P&O ships that would be berthed nearby, comprises a detached three-storey (above a basement) property with elevations of exposed brick, render and clay tile. In addition, there are several decorative Grade II* listed stucco elements between the first-floor bay windows. The roof consists of a multi-pitch clay tile roof with several dormer windows.
Accommodation:
Ground Floor: The ground floor pub provides two trading areas for approximately 90 customers seated, and the ancillary provisions include customer toilets and a lobby to the offices.
First Floor: The first floor provides seven office suites, a conference room, reception, staff kitchen and staff toilets.
Second Floor: The second floor provides nine office suites, staff kitchen and staff toilets.
Basement: The basement provides a gym, massage studios, and changing facilities, along with ancillary provisions including customer toilets, stores, and a trade kitchen for the ground floor pub.
Externally: Externally, the property benefits from a substantial beer garden, providing approximately 192 customers seated. The front two-thirds of the building is surrounded by amphitheatre-style steps providing further seating. To the south-west of the property, across Basin Approach, are 8 car parking spaces.
Galyons Bar & Kitchen is located within the Royal Docks area of the London Borough of Newham on the northern bank of the River Thames. It lies approximately 8.5 miles east of central London, 2.9 miles south of Barking, 1.4 miles west of Creekmouth, 1.2 miles north of Woolwich and 3.5 miles east of Poplar.