The freehold of the landmark The Eel Pie public house at 9-11 Church Street in Twickenham has hit the market with a price tag in excess of £3,870,000. The price reflects a net initial yield of 4.25%.
The property, which is owned by a private investor, is arranged over four levels extending to 6,749 sq ft and is let to Hall & Woodhouse on a lease expiring in February 2050 at a rent of £175,000 per annum. The business will remain unaffected by the sale.
The pub is situated in the heart of Twickenham close to the famous Eel Pie Island, which is home to a number of rowing clubs, boat yards, private houses and artists’ studios.
Stuart Stares, director in the licensed leisure team at Savills, which has been appointed to market the property, said: “Despite economic headwinds, the London leisure and hospitality sector remains very robust, and we are continuing to see strong consumer demand. The Eel Pie offers a unique opportunity for investors seeking defensive assets, which are let to an established operator.”
