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
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.
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
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.
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.
