59 Chepstow Road Notting Hill London W2 5BP

59 Chepstow Road
Notting Hill
London
W2 5BP

Freehold Retail/Residential Investment with Potential

Affluent and fashionable Central London location
Rent review in 2013
Includes three residential flats
1.5 miles from London's West End
The purchaser will pay 1% plus VAT of the purchase price towards the Vendor’s sales costs.

Lot
5
Auction
21st October 2010
Rent
£62,180 per Annum Exclusive
Status
Sold
Price
£1,100,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

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Freehold Retail/Residential Investment with Potential

Affluent and fashionable Central London location
Rent review in 2013
Includes three residential flats
1.5 miles from London's West End
The purchaser will pay 1% plus VAT of the purchase price towards the Vendor’s sales costs.

Lot 5
Auction 21st October 2010
Rent £62,180 per Annum Exclusive
Status Sold
Price £1,100,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

Property Information

Location

Miles: 1/4 mile north of Hyde Park and Kensington Palace, Circa 1.5 miles west of London’s West End
Roads: A40(M), M4, A5, A406
Rail: Notting Hill Gate (Central, District and Circle lines), Bayswater (District and Circle lines), Paddington (District, Circle, Bakerloo and Hammersmith & City lines)
Air: Heathrow Airport

Situation

Notting Hill is an affluent and fashionable Central London suburb located approximately 1.5 miles west of London’s Oxford Street. The property is situated on the eastern side of Chepstow Road, close to its junction with Talbot Road.

Tenure

Freehold.

Location

Miles: 1/4 mile north of Hyde Park and Kensington Palace, Circa 1.5 miles west of London’s West End
Roads: A40(M), M4, A5, A406
Rail: Notting Hill Gate (Central, District and Circle lines), Bayswater (District and Circle lines), Paddington (District, Circle, Bakerloo and Hammersmith & City lines)
Air: Heathrow Airport

Situation

Tenure

Freehold.

Description

The property, an attractive period building, comprises RETAIL ACCOMMODATION on the ground floor, SELF-CONTAINED BASEMENT OFFICE ACCOMMODATION and THREE SELF-CONTAINED RESIDENTIAL STUDIO FLATS on the first, second and third floors. The flats benefit from separate access at the side of the building. The ground and basement accommodation have recently been refurbished.

VAT

VAT is not applicable to this lot.

EPC

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

Description

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	Reviews
Basement Ground	Office Ancillary Retail	38.92 sq m 8.92 sq m 44.77 sq m	(419 sq ft) (96 sq ft) (482 sq ft)	PHILLO LTD	15 years from 11/07/2003 (1)	£31,500	11/07/2013 and 5 yearly
First	Residential	33.85 sq m	(364 sq ft)	INDIVIDUAL	Assured Shorthold Tenancy for a term of 1 year from 13/05/2009 (2)	£10,140
Second	Residential	33.85 sq m	(364 sq ft)	INDIVIDUAL	Assured Shorthold Tenancy for a term of 1 year from 24/03/2007 (2)	£10,920
Third	Residential	32.32 sq m	(348 sq ft)	INDIVIDUAL	Assured Shorthold Tenancy for a term of 1 year from 28/03/2010	£9,620.04
Totals		192.63 sq m	(2,073 sq ft)			£62,180.04

(1) As to the lease to Phillo Ltd, please note that the lease is excluded from Security of Tenure provisions of the Landlord & Tenant Act 1954.(2) The tenant is currently holding over.