Covent Garden: 170-year-old London pub on the market with £10 million price tag

A Covent Garden pub that has been operating as a public house since the 1850s has been put up for sale on Rightmove.

The freehold of the The Prince of Wales, in Drury Lane, has an asking price of £9.75 million.

The property is currently let to Spirit Pub Company, a subsidiary of Greene King, on a 30-year lease until June 2034.

It consists of four floors with the ground floor and first floor seating a combined 143 customers.

There is space for a further 16 customers seated outside and four double bedrooms on the top floor act as accommodation for management and staff.

A fully-fitted trade kitchen is to be found on the second floor, along with a dumb waiter to easily serve visitors in the pub below.

The property has a cellar with some storage and there are ladies and gentlemen’s toilets on the ground and first floors, as well as a disabled facility on the ground floor.

The Prince of Wales is not a listed premises but is located within the Covent Garden Conservation Area which may affect any applications for planning permission submitted by a potential buyer.

The pub is in the heart of theatreland with the Theatre Royal, Shaftesbury Theatre, Cambridge Theatre, St Martin’s Theatre and Ambassadors Theatre all within a few minute’s walk of the Prince of Wales.

The Royal Opera House, Covent Garden Market and London Transport Museum are all a moment’s stroll from the premises, with the British Museum nearby.

The Prince of Wales is served by London Underground stations of Covent Garden, Holborn, Tottenham Court Road and Leicester Square with many central London buses passing through the area.