Retail Unit let on a new 15 year lease until April 2028
Busy location in affluent south-west London suburb
Close to Parsons Green Underground Station (District Line)
Nearby occupiers include Space NK, Hamptons Estate Agents, Knight Frank and a number of independent retailers
Lot 14
Auction 9th July 2014
Rent £48,750 per Annum Exclusive
Status Sold
Price £650,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
4 miles south-west of London’s West End, 6.5 miles west of City of London
Roads
A4, A308, M4
Rail
Parsons Green Underground (District Line)
Air
Heathrow Airport, London City Airport
Situation
Fulham is an affluent and fashionable South-West London suburb some 5.5 miles west of central London. This property is located on the southern side of the busy New King’s Road (A308) which joins with King’s Road (A3217) to connect Putney with Sloane Square and Victoria.
The property is within close proximity of Parsons Green Underground Station (District Line) with other nearby occupiers including Space NK, Hamptons Estate Agents, Knight Frank and a number of boutiques and independent retailers.
Tenure
Freehold.
Location
Miles
4 miles south-west of London’s West End, 6.5 miles west of City of London
Roads
A4, A308, M4
Rail
Parsons Green Underground (District Line)
Air
Heathrow Airport, London City Airport
Situation
Fulham is an affluent and fashionable South-West London suburb some 5.5 miles west of central London. This property is located on the southern side of the busy New King’s Road (A308) which joins with King’s Road (A3217) to connect Putney with Sloane Square and Victoria.
The property is within close proximity of Parsons Green Underground Station (District Line) with other nearby occupiers including Space NK, Hamptons Estate Agents, Knight Frank and a number of boutiques and independent retailers.
Tenure
Freehold.
Description
The property comprises a retail unit over ground and basement used as a café/bar, with two residential units on the upper floors let on long leases. The ground floor unit has been extended to the rear and also benefits from an external seating area of approximately 20.90 sq m (225 sq ft) to the front.
Eight Week Completion
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a retail unit over ground and basement used as a café/bar, with two residential units on the upper floors let on long leases. The ground floor unit has been extended to the rear and also benefits from an external seating area of approximately 20.90 sq m (225 sq ft) to the front.
Eight Week Completion
VAT
VAT is 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/(Reversion)
Ground Basement
Retail Retail
95.11 sq m 57.23 sq m
(1,023 sq ft) (616 sq ft)
TIENDALONDON LIMITED t/a Tienda (1)
15 years from 15/02/2013 until 14/02/2028
£48,600
15/02/2018 and 15/02/2023
First
Residential
Not Measured
NATIONCRAFT LTD
120 years from 01/01/2002
£150
(31/12/2122)
Second
Residential
Not Measured
INDIVIDUALS
189 years from 29/09/1986
Peppercorn
(28/09/2175)
Total Commercial Floor Area
152.34 sq m
(1,639 sq ft)
£48,750
(1) Tienda is a shop, café and wine bar specialising in Spanish cuisine and sourcing directly from Spain. (Source: tiendalondon.co.uk 04/06/2014) (2)For the purposes of clarification the current rent is £33,750 p.a.x. rising to £42,500 p.a.x. in February 2015, £45,000 p.a.x. on February 2016 and £48,600 p.a.x. on February 2018. The seller has agreed to adjust the completion monies so that the retail unit effectively produces £48,600 p.a.x. from completion of the sale. The total rent will therefore effectively be £48,750 p.a.x.
Contacts
Seller's Solicitors
Lawrence Stephens 50 Farringdon Road London EC1M 3HE
