Hotel/guest house for sale in Streatham High Road, London SW16

A public house and ancillary accommodation located in Streatham South West London.

Ideally located in the heart of Streatham High Road and 0.1 miles from Streatham Hill station (Thameslink) offering easy access to Clapham Junction within 10 minutes and London Victoria in just 18 minutes.

Existing accommodation arranged as a pub over ground and basement (5,453 sq ft) and two floors of dilapidated ancillary accommodation above arranged as 12 rooms and associated WC’s, a function room, bar, office, storage rooms and kitchens (4,424 sq ft).

Total gia – 9,877 sq ft.

The ancillary accommodation is a blank canvas and has the potential for a variety of uses, such as serviced apartments, co-living, HMO, Hostel etc.
Planning Permission is due imminently for the retention and refurbishment of the former public house (Sui Generis) at ground and basement; change of use and refurbishment of the vacant first and second floors from ancillary public house (Sui Generis) to hotel use (C1), installation of cycle parking and associated external alterations. Planning Ref - 23/03926/ful – Lambeth Council

The consent will see the upper parts reconfigured as an 18-bedroom hotel (C1) use.

An agreement for lease has been signed for the pub over ground floor and basement and Heads of Terms have been signed for the upper parts, headline are as follows:

Pub - 15 year Fri lease to a Gastropub operator at an annual rent of £100,000 per annum, 5 yearly rent reviews, upward only. Tenant – Rhapsody Group -

Hotel – 10 year iri lease at an annual rent in the region of £252,000 per annum, subject to completion of the consented planning permission and tenants desired specification. Tenant – Limehome -

Freehold.

VAT applicable.

Guide Price - £2,000,000 (Two Million Pounds) subject to contract and on an Unconditional Basis, reflecting a low capital value of £202 psf.