Talbot, 109 Mortimer Road, London, N1 4JY

Description
The Talbot is arranged over ground, basement and two uppers floors of a two storey corner building with exposed brick and painted rendered elevations beneath a part pitched and part flat roof.

Location
The property occupies a prominent position on Mortimer Road in the popular De Beauvoir Town area of North London, between Islington and Dalston. The location benefits from a vibrant mix of residential, retail and leisure uses, with Dalston Junction and Haggerston stations both within easy reach, providing convenient access to Central London.

Accommodation
Basement: The basement comprises cellar and stores.

Ground Floor: The ground floor provides an open plan trading area with a central bar servery and seating on loose tables and chairs. Ancillary accommodation includes a trade kitchen, stores and customer WC’s.

First Floor: The first floor comprises two additional trading areas with a separate WC.

Second Floor: The second floor comprises the managers accommodation which provides two bedrooms, bathroom and living room.

Externally: There is an enclosed courtyard to the rear with seating on wooden benches as well as two balcony’s at first floor with external seating. There is additional seating to the front elevation which is held by way of a pavement licence.

Planning
The property is not listed but it is situated within the De Beauvoir Conservation Area.

Fixtures & Fittings
The fixtures and fittings are currently owned by the occupation tenant and are excluded from the sale.

EPC
C-62

Tenure
The Property is held freehold (Title Number LN174301).

Tenancy
The entire property is let to Ei Group Limited (Company No. 02562808) on a 35 year FRI lease from 1st December 2010 (Title Number AGL22917) at a current rent of £82,500 per annum which is subject to five yearly open market reviews. The rent review on 1st December 2025 remains outstanding and there is a tenant break option on 1st December 2035.

The entire property is sublet to Frontier Pubs Limited (Company No. 10113513) on a sub-lease expiring 25th November 2045.

Covenant
Ei Group Limited is wholly owned by the Stonegate Group which is the largest pub company in the United Kingdom and is backed by TDR Capital. Stonegate currently own and operate 4,259 pubs/bars with revenue of £1,619m in the 52 weeks to 28 September 2025.

In July 2024 Stonegate Group completed their debt refinancing requirements which resulted in TDR Capital making a £250m shareholder contribution demonstrating their continued support for the business. This follows the refinancing agreement with Apollo in December 2023 for £638m in relation to c1,000 pubs within the Stonegate estate.

The company is renowned for its Yates and Slug & Lettuce brands however they operate a number of formats including Popworld, Walkabout, Be at One, Craft Union, Proper Pubs, Social Pub and Kitchen and Sports Bar & Grill.

Terms
We are instructed to invite offers in excess of £1,200,000 (£195/SQ FT) which reflects a Net Initial Yield of 6.5% after deducting the usual purchasers costs.

The business will continue to trade unaffected from the premises during the marketing of the property and post completion of the sale.

VAT
It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT on the basis the purchasing entity is VAT registered.

Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.

Viewings
All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff. For further information and all viewing requests please contact the sole selling agents Savills.

Savills Auction
The property will be entered in the Savills auction on 30th October unless sold prior with access to the auction catalogue on the following link. Any sale will be dealt with by way of an auction contract.