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Courtesy of Savills
A private investor scooped up the freehold interest in The Ship, a traditional London pub in Mortlake on the bank of the Thames. The buyer paid £4.5M. The pub was built in 1781 and is famous for its location on the finishing line of the Oxford-Cambridge Boat Race.
The pub is spread over two floors and features an open fire, a timber floor and a beer garden. It is let to Spirit Pub Co until March 2044. The property generates £198k/year.
Plans are in the works to develop a new Riverside Quarter on the 22-acre site, which will include a mixed-use development and scope for up to 850 homes. The buyer expects The Ship to see a positive impact from that development.
Savills advised the buyer, while JLL advised the seller, Henderson Global Investors.
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