DCL Distills Value on Two London sites
November 22, 2013
The freehold interest on The Distillers on Fulham Palace Road has been sold for £3.4m to Fullers after DCL – the leisure specialists – secured the deal on behalf of Hammersmith Tavern. The sale was achieved following competitive bidding, off an asking price of £3m.
DCL has also sold the leasehold interest in The Distillers in Clerkenwell for £250,000 and a passing rent of £115,000.
Paul Tallentyre, Director at Davis Coffer Lyons said: There is a distinct lack of good freehold properties coming to the market. This means that when they do we recieve a great deal of interest. To have acheive £400k over asking price is a great result and shows that – with the correct marketing – these properties will result in competitive bidding.