Investment for sale - Galyons Bar & Kitchen, Gallions Hotel, Basin Approach, London, E16 2QS

<strong>Description</strong><br>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. <br /> <br /> 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.<br><br><strong>Accommodation</strong><br>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.<br /> <br /> First Floor: The first floor provides seven office suites, a conference room, reception, staff kitchen and staff toilets.<br /> <br /> Second Floor: The second floor provides nine office suites, staff kitchen and staff toilets.<br /> <br /> 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.<br /> <br /> 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.<br><br><strong>Floor Plans</strong><br>Floor plans of all levels are available upon request.<br><br><strong>Tenure</strong><br>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.<br><br><strong>Tenancy</strong><br>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.<br /> <br /> 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.<br /> <br /> The upper floors are currently vacant and will be sold with vacant possession.<br><br><strong>Planning</strong><br>The property is a Grade II* listed building (ref: 1376224). The property is not situated within a Conservation Area. <br /> <br /> The local authority overseeing the site is London Borough of Newham, and further information can be found on their website: www.newham.gov.uk<br><br><strong>Licensing</strong><br>The property has the benefit of a Premises Licence in accordance with the Licensing Act 2003 permitting the sale of alcohol at the following times: <br /> <br /> Sunday to Friday: 12:00 - 23:00<br /> Saturday: 11:00 - 23:00<br><br><strong>EPC</strong><br>An EPC is in the course of preparation.<br><br><strong>Terms</strong><br>We are instructed to invite offers in region of £2,000,000 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.<br><br><strong>Money Laundering</strong><br>Money Laundering Regulations require Savills to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.<br><br><strong>Viewings</strong><br>All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the staff of the two trading businesses. For further information and all viewing requests please contact the sole selling agents Savills.<br><br>