Star Pubs & Bars is understood to have set a nationwide record for a pub company tied lease at The Gun in Spitalfields.
As MCA revealed last month, the pub has been let to the East London Pubco, which already operates The Ten Bells in Spiatlfields, as well as the Lock Tavern in Camden. It is also redeveloping the former Kazbar in Clapham as Edgeley Road.
AG&G, which acted on behalf of Star, said the property had been let “at a rent substantially in excess of the guide rent” of £175,000.
The site is set out over ground floor and basement of the newly developed Fruit & Wool Exchange. The scheme comprises 260,000sq ft of offices with a further 40,000sq ft of retail/leisure space.
Eats London Pubco, which is led by Patrick Frawley and Bradley Lomas, anticipates spending over £1 million fitting out the 4,500sq ft premises which will launch in January 2019.
James Grimes of AG&G said: “We received a total of 13 bids for this very rare opportunity located opposite Spitalfields Market. We understand that this letting transaction has set a nationwide record rent for a Pub Company ‘tied’ lease, following an open marketing exercise. This shows the strength of the market for well-located, prime pub opportunities.”
