Victorian pub in Birmingham has £995,000 guide price in auction
A landmark Victorian pub will be among the star lots at an auction next month.
The ground floor and basement of the property at 106-110 Edmund Street is currently called The Florence, though many locals will remember it in its former guise until 2018 as Edmunds Bar & Brewhouse.
The red brick, four storey property dating from 1895 will have an attractive guide price of £995,000 plus in the auction in Bond Wolfe’s livestreamed auction on September 14.
Ian Tudor, commercial auction director at Bond Wolfe, said the lot includes 17 self-contained apartments on the upper floors accessed via a separate entrance, all of which have been sold on a long leasehold at a peppercorn ground rent.
The prime public house investment is a freehold property let to Greene King Neighbourhood Estate Pubs Ltd on a 50-year lease for a current rent of £78,750 per annum.
Mr Tudor said: “This landmark Victorian property occupies a highly prominent corner position at the junction of Edmund Street and Newhall Street, in the heart of the Colmore Business Improvement District.
“Located just off Colmore Row, there are multiple high profile professional services in the vicinity, plus many popular shops, bars, cafes and restaurants.
“St Philips Cathedral is located nearby, along with other stand-out buildings including The Grand Hotel, Birmingham Town Hall and Council House, and Snow Hill Railway Station.”
The Florence pub occupies 2,633 sq ft on the ground floor and another 1,741 sq ft in the basement.
The 50-year lease with Greene King commenced in September 1996 and runs until 28 September 2046 with rent reviews every five years, the next one on September 19, 2026.
The peppercorn rent for the apartments on the first, second and third floors is on a lease with Unique Management Ltd for 150 years from July 2009 to July 2159.
Mr Tudor added: “The history, location and beautiful Victorian red brick nature of this landmark building, along with the attractive rent from one of the UK’s top pub companies, is likely to make this a very popular lot.”
The Birmingham property is just one of 175 lots that are appearing in Bond Wolfe’s next auction, which will start at 9am on Thursday, September 14.
