197 New Kings Road Fulham London SW6 4SR

197 New Kings Road
Fulham
London
SW6 4SR

Freehold Retail and Residential Investment

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
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Retail and Residential Investment

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

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

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.