Pub starting-point for University Boat Race auctioned for £3.4m

03 November 2009 by
Pub starting-point for University Boat Race auctioned for £3.4m

The London pub which marks the start point for the University Boat Race has been sold at auction for £3.4m.

The freehold of the Star and Garter in Putney, and the building which houses it, were bought by a mystery investor at the auction, held by property agent Jones Lang LaSalle in central London last week.

The property, which first appeared on a map of Putney in 1787, has marked the start of the Oxford versus Cambridge Boat Race since 1845. The pub is operated by Glendola Leisure, which will be unaffected by the sale.

Richard Auterac, director and auctioneer at Jones Lang LaSalle, said: "The auction room witnessed the strongest buyer interest we've seen in two years, and it is clear that the auction market is leading the way out of the recession with a growing number of buyers taking advantage of strong income returns from real estate investments.

"There is a wealth of cash rich experienced buyers re-entering the market but they are chasing a limited supply of prime stock, which is resulting in a push on prices for the best properties."

Glendola Leisure acquires The Watermark in Portsmouth >>

£110m price tag for half finished hotel development on London's Strand >>

Buying commercial property from auction >>

Scottish & Newcastle Pub Enterprises places 20 pubs on the market >>

Punch Pub sheds a further 17 freehold pubs >>

By Daniel Thomas

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