A private UK investor has acquired the freehold interest in The Ship at 10 Thames Bank, Mortlake, SW14 from Henderson Global Investors for £4.52m.
The prime London pub investment, which was acquired through Savills, comprises 5,633sq ft of accommodation over two floors, let in its entirety to Spirit Pub Company until March 2044. The property generates £198,418 per annum.
George Gawthrop, associate director in the Central London investment team at Savills, said: “This was an opportunity to acquire an attractive, long income London pub strategically situated immediately adjacent to the former Stag Brewery development site acquired by City Developments Limited (CDL) in 2015. With a proposal to deliver a new ‘Riverside Quarter’ on the 22-acre site which will include a fully integrated mixed use development and scope for up to 850 homes, we expect The Ship to witness a positive impact on not just the day to day trading of the pub but also its underlying residual value.”
JLL advised Henderson Global Investors.
