Done Deal: Canal 125, Islington
January 15, 2018
On behalf of Glasshouse Asset Management, the Pubs and Bars team at leisure property advisers, Davis Coffer Lyons has completed the leasehold sale of the Canal 125 pub on Caledonian Road, North London overlooking the Regents Canal.
The 3,200 sq ft stylish waterside pub, event venue and restaurant is set over floors with outdoor terraces and has a 2am licence. A new 25 year lease was granted at a rent of £150,000 per annum exclusive. The new leaseholder is a hospitality newcomer Shifeng Tian, who will be opening a Chinese restaurant at the site.
Connie Start, Associate Director, Davis Coffer Lyons, said: This is an exceptionally well located property close to Kings Cross, Angel and many residential dwellings, retailers and other licenced operators. A new Chinese restaurant will greatly complement the surrounding tenant mix and will be a great addition to the area.