Harringay, Haringey - So Good they Spelt it Twice!
Salisbury freehold for sale
Given we're all supposed to have saved a fortune during lockdown, this could be the moment to take a look down the back of the sofa and see if you've got £6.2 million in 10p pieces there to buy a lovely period des res on the corner of St Ann's and Green Lanes....
E-mail ad attached, or for full details: www.allsop.co.uk/resources/2021/10/LONDON-Harringay-Salisbury-Hotel... (Link no longer working)
PS Note from site admin - having noticed that the link is now deasd I've downloaded, resized and attached below their pdf brochure.
Tags for Forum Posts: community assets, localism act, salisbury acv
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Permalink Reply by Hugh on
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Ladder Community Safety Partnership, the closest thing we have to a traditional residents' group for the Ladder.
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Permalink Reply by AndrewAW1 on
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~ 5% yield isn't a bad return on the investment and there'd possibly be scope for upping that with updating/reconfiguring some of the flats. 15 flats is a fairly substantial amount on top of the pub.
With it being listed I can't imagine it would be that tempting to buy speculatively. Trying to get planning to convert a popular pub that is listed would be a challenge.
On the topic of pubs and developers, this is a good read from a few years ago
https://www.theguardian.com/lifeandstyle/2015/oct/13/the-death-and-...
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Permalink Reply by Michael Anderson on
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The real worry is either a temporary 2 year use which just goes on and on - The Queens Head at Duckett's Common being a case in point - or just leaving it empty and boarded up, hoping the local authority will allow change to another use rather than leaving it to rot.
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Permalink Reply by Jon C on
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As happened with The Black Cap In Camden - however, hopefully, after six years of campaigning, that listed/ACV venue might well have been saved.
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Permalink Reply by Rob B on
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If the lease is within the remit of part II of the Landlord and Tenant Act 1954 (you’d need to have a look at the lease to see if it’s inside or outside the Act) then the operator of the pub would have the right to a new lease upon expiry.
subject to a freeholder being able to oppose the lease renewal on certain grounds including that they intend to redevelop. Compensation is paid to the tenant in such a situation.
this is on top of the other planning issues etc raised by Don.
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Always assuming the pub operator can afford the new lease, of course.... If the freeholder offers a new lease at a massive increase, then that might effectively get rid of the current tenant and open the building up to other uses or redevelopment with vacant possession.
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You are entitled to it at market rent, so a LL can’t just demand a huge increase to evict in that way.
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That’s good to know, though a favourite cafe I used to visit in the West End was still forced out of business (under a 1954 act lease) because the current market rent was so much higher than the existing agreement — presumably originally set 7 or more years previously. Mind you, the head lessees then couldn’t do the massive development that caused the cafe’s ousting, let half the premises to a nail bar, went bust, and got foreclosed by their freeholders, so there was an element of justice (or at least schadenfreude) — but, of course, no more cafe at the end of it all.
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