New Cross Inn and Royal Albert up for sale

The recently-refurbished New Cross Inn is up for sale. Transpontine reports that:
Christie + Co state that it 'has been instructed to obtain bids for a substantial freehold investment in London. The New Cross Inn is a distinctive building with Victorian features including a domed turret and arched windows.'

It is in a prominent position between New Cross and New Cross Gate stations.The investment is split into two distinct businesses and has recently undergone an overhaul with capital expenditure of £80,000. There is a ground floor and basement live music bar with a 10-year free-of-tie lease and a current rental income of £36,000. The upper floors are presently operated as a hostel with 80 beds, a 10-year lease and a rental income of £60,000. Christie + Co is inviting bids for the freehold investment with a guide of £1,200,000'.

UPDATE: BCers have pointed out that the freehold for The Royal Albert pub, further down the New Cross Road is also up for sale.