The Ivy Tree restaurant and bar in Romford, located at South Street, is scheduled for auction on May 15, with a guide price of 1.25 million. Despite the auction, owner Remzi Erdogan assures patrons that the venue will remain open as their lease is intact. JD Wetherspoon retains its position as the main tenant, paying an annual rent of 120,000 until the lease expires in December 2030. Acuitus states that the property presents a solid long-term investment due to its history and recent refurbishments, alongside 11 upper flats that have been sold on long leases.
Remzi Erdogan confirmed that Ivy Tree is not closing; the auction will mean a change of landlord, but they will continue operating under their lease.
Jon Skerry described the property as a positive long-term investment opportunity with its recent refurbishments and established presence on the high street since 1995.
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