East Finchley local sold through Christie & Co
Specialist business property adviser, Christie & Co has completed on the sale of a new lease for Madden’s Bar, a well established local community pub and bar occupying a prominent position in East Finchley, North London.
Boasting a welcoming atmosphere on the neighbourhood’s high street, the modern bar offers a mix of traditional table and chair seating, high bar stools, lounge chairs and bench seating, outside seating for 10 people and a pool room to the rear. Additionally, the property has a full catering, franchised kitchen on the first floor and residential accommodation across the second and third floors above the pub, currently rented out and creating good income levels.
Having owned and operated Madden’s for over 20 years, Kieran Madden has decided the time is right to retire with plans to move back to County Clare in Ireland, but retain ownership of the bar as an investment. In his time, Mr Madden has owned a number of pubs including the Green Man in Islington, which he sold a few years ago. Mr Madden comments, “I started out in 1983 with our first pub in Camden, the Constitution, St. Pancras Way.”
Partners at Celtic Green Promotions Ltd, Enda Murray and Ronan Murray have acquired the leasehold of Madden’s. Enda comments, “We are very excited on taking this established business over from Kieran and plan to build on his success.”
Stewart Harkness, Associate Director at Christie & Co handled the sale and comments, “This is a fantastic opportunity for Enda and Luke to benefit from the already established trade and loyal following that Kieran has created over the years. As the property has been refurbished to a high standard, there is little for them to do, except use their expertise and experience to continue the success of Madden’s Bar.”
Madden’s Bar was sold of a leasehold guide price of £100,000 and an annual rent guide price of £75,000.