7 Elgin Crescent off Portobello Road Notting Hill London W11 2JA

7 Elgin Crescent
off Portobello Road
Notting Hill
London
W11 2JA

Freehold Retail and Residential Ground Rent Investment

  • Let to Save the Children Fund on a new 10 year lease (subject to option)
  • Highly affluent and fashionable Central London location 2 miles from London’s West End
  • Highly attractive building close to the famous Portobello Road Market
  • Nearby occupiers include Neil’s Yard Remedies, Cath Kidston and Kurt Geiger
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    4
  • Auction
    22nd October 2015
  • Rent
    £60,500 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,450,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail and Residential Ground Rent Investment

  • Let to Save the Children Fund on a new 10 year lease (subject to option)
  • Highly affluent and fashionable Central London location 2 miles from London’s West End
  • Highly attractive building close to the famous Portobello Road Market
  • Nearby occupiers include Neil’s Yard Remedies, Cath Kidston and Kurt Geiger
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 4
  • Auction 22nd October 2015
  • Rent
  • Status Sold
  • Price £1,450,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
2 miles west of London’s West End, 1.5 miles west of Paddington Station, 0.8 miles north of Holland Park
Roads
A40, A3220
Rail
Notting Hill Gate (Central Line) and Ladbroke Grove (Hammersmith & City and Circle Line) Underground Stations
Air
London Heathrow Airport, London City Airport
Situation

Notting Hill is a highly attractive, fashionable and affluent West London suburb, located some 2 miles west of Marble Arch and Oxford Street, approximately 1 mile north of Holland Park and Kensington Gardens. The property is situated on the south side of Elgin Crescent between its junction with both Portobello Road and Kensington Park Road. Neighbouring occupiers include Neil’s Yard Remedies, Cath Kidston and Kurt Geiger as well as an eclectic mix of boutique retailers and the famous Portobello Road Market.

Tenure

Freehold.

Location
Miles
2 miles west of London’s West End, 1.5 miles west of Paddington Station, 0.8 miles north of Holland Park
Roads
A40, A3220
Rail
Notting Hill Gate (Central Line) and Ladbroke Grove (Hammersmith & City and Circle Line) Underground Stations
Air
London Heathrow Airport, London City Airport
Situation

Notting Hill is a highly attractive, fashionable and affluent West London suburb, located some 2 miles west of Marble Arch and Oxford Street, approximately 1 mile north of Holland Park and Kensington Gardens. The property is situated on the south side of Elgin Crescent between its junction with both Portobello Road and Kensington Park Road. Neighbouring occupiers include Neil’s Yard Remedies, Cath Kidston and Kurt Geiger as well as an eclectic mix of boutique retailers and the famous Portobello Road Market.

Tenure

Freehold.

Description

The property, an attractive unit, comprises basement and ground floor retail/ancillary accommodation and a self-contained maisonette accessed from the front of the property.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property, an attractive unit, comprises basement and ground floor retail/ancillary accommodation and a self-contained maisonette accessed from the front of the property.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review
Basement
Ground
Ancillary
Retail
53.40 sq m
57.10 sq m
(574.80 sq ft)
(614.62 sq ft)
SAVE THE CHILDREN
FUND (t/a Mary’s Living
and Giving) (1)
10 years from 26/06/2015 on a full repairing and insuring lease (2) £60,000 26/08/2020
First and
Second
Residential
Maisonette
Not Measured
INDIVIDUAL 125 years from 01/01/2013 £500 (3)  
Total Commercial Area
110.50 sq m
(1,189 sq ft)
    £60,500  

(1) For the year ending 31/12/2014, Save the Children Fund reported pre-tax profits of £14,346,000 and a total net worth of £108,094,000. (Source: www.experian.co.uk 21/09/2015)
(2)The lease provides for a tenant’s option to determine the lease on 25/08/2021, subject to no less than 6 months notice.
(3)The ground rent is £500 p.a.x. until 31/12/2036 and then doubles every 25 years of the term.

Property Documents

  • Catalogue Page
    Updated Date
    30.09.15
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    30.09.15
    File Size
    88 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
MLP Solicitors LLP 7 Market Street
Altrincham
Cheshire
WA14 1QE
Neil Sutcliffe 01619 261 540neils@mlplaw.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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