Petrol Stations for sale in the Covent Garden, London

Commercial Property in Covent Garden available for sale

Retail Properties for Sale Near the Covent Garden, London

More details for 45 Great Queen St, London - Retail for Sale

Prince of Wales - 45 Great Queen St

London, WC2B 5AA

Retail for Sale
£8,000,000
6,846 sq ft

Air Conditioning
Security System
24 Hour Access
Smoke Detector

London Retail for Sale - Midtown, London

The property is situated on Drury Lane, a short distance from Covent Garden Underground Station, in the heart of theatreland making it ideally positioned to benefit from the high number of visitors generated by the diverse entertainment offering. 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).