Specialist business property adviser, Christie & Co has brought to the market the Nag’s Head, a freehold pub investment currently let on a 20-year lease and located in Camberwell, South London.
The two-storey, end of terrace property comprises an open plan pub on the ground floor with a central bar and sizeable seating area, a beer cellar and storage in the basement, a three bedroom flat on the first floor and a large beer garden.
The site came with planning permission to extend the property, which could present a new investor with the potential to increase rental value.
Situated on Camberwell Road, less a mile from Oval Underground Station and Denmark Hill rail station, the property is located in an accessible, thriving area. Camberwell has seen several new developments, most recently the Wing, a residential scheme which is currently underway directly next to the Nag’s Head. Also in the area is a range of retail shops, restaurants, and bars, drawing more footfall and catering to the growing residential population.
Christie & Co is selling the Nag’s Head on behalf of current owner, MCR Property Group and Nick Lake, asset manager at MCR Property Group said, “The Nag’s Head is a significant building in the heart of this highly sought-after South London district. The site’s enviable position and close proximity to a raft of attractive amenities on Camberwell high street is major pull for prospective buyers.”
James Laskowski, business agent at Christie & Co who is handling the sale said, “This property presents a rare and exciting opportunity to acquire a freehold public house investment with significant development potential in a fast growing part of London, reflecting a 6% GIY. Potential buyers would benefit from the considerable income stream and possible long-term capital value growth given the nature of the asset and its location.”
Christie & Co is seeking an asking price of £1,250,000 for the freehold interest of the Nag’s Head.