Red House, 299 Barking Road, E13

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Key Points

Summary

Desirable east London bar available on a lease assignment

Description

The subject premises is prominently located on a main arterial road and has recently undergone refurbishment, featuring a modern fit-out. There is significant potential to expand the business by introducing additional food and drink offerings during the evening. The property also includes an external forecourt and an unused basement, which could be repurposed as a function room or a separate venue.

Location

The 'Red House' premises is situated on the north side of the busy Barking Road (A124), approximately 0.6 miles east of Canning Town. The location offers convenient access to the A13, providing westbound connections to Canary Wharf, Docklands, and the City. Heading east, the A124 leads towards Plaistow.Canning Town Station, 0.7 miles from the property, offers Jubilee Line and DLR services, while Plaistow Station, 0.9 miles away, provides access to the District Line. Additionally, Custom House DLR Station is located 1.2 miles south of the premises. Several bus routes serve the area, offering excellent connectivity to various parts of east London.

Availability_text

The accommodation comprises the following areas:

Lease

The property is available on an effective FRI lease for a term of 20 years with effect from 30/05/22, subject to a rent of £41,352.84 pax plus VAT and rent review on a five yearly basis and increased by annual RPI (collared and capped between 2.5% and 5%).

Legal costs

Each party to bear their own legal costs in the transaction. The prospective assignee to give a solicitor undertaking to pay for the landlords legal and surveyor costs.

Premium

On request.