Ground floor shop let on a 15 year lease until 2025 (no breaks)
Six residential flats on upper floors
Affluent West London location
Excellent transport links with Central London
Lot 21
Auction 9th July 2014
Rent £109,012 per Annum Exclusive
Status Sold
Price £1,600,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Joint LPA Receivers, JLL
Property Information
Location
Miles
1.3 miles north of Notting Hill, 2 miles north-west of Paddington
Roads
A40, A4, M4
Rail
Kensal Green (Rail, Underground and Overground Stations),
Westbourne Park Underground
Air
London City Airport, London Heathrow
Situation
Kensal Road is situated in the affluent North Kensington area on the south bank of the Grand Union Canal at the top of Ladbroke Grove, to the west of Paddington and north of Notting Hill. The property is situated in a mixed use area, adjacent to the Middle Row School and opposite the Network Hub office development. It is well connected, being in walking distance of Kensal Green, Ladbroke Grove and Westbourne Park Underground stations. The 23 bus route
which runs past the property provides a direct service to Paddington, Oxford
Circus, Bank and Liverpool Street.
Tenure
Freehold.
Location
Miles
1.3 miles north of Notting Hill, 2 miles north-west of Paddington
Roads
A40, A4, M4
Rail
Kensal Green (Rail, Underground and Overground Stations),
Westbourne Park Underground
Air
London City Airport, London Heathrow
Situation
Kensal Road is situated in the affluent North Kensington area on the south bank of the Grand Union Canal at the top of Ladbroke Grove, to the west of Paddington and north of Notting Hill. The property is situated in a mixed use area, adjacent to the Middle Row School and opposite the Network Hub office development. It is well connected, being in walking distance of Kensal Green, Ladbroke Grove and Westbourne Park Underground stations. The 23 bus route
which runs past the property provides a direct service to Paddington, Oxford
Circus, Bank and Liverpool Street.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with six residential flats on the upper floors accessed from Kensal Road.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act
Receivers and therefore no warranties or guarantees in any respect, including
VAT, can be given. The information in these particulars has been provided by
the Joint Law of Property Act Receivers to the best of their knowledge but the
purchaser must rely solely upon their own enquiries. The Joint Law of Property
Act Receivers are not bound to accept the highest or any offer and are acting
in respect of this sale without personal liability.
Six Week Completion
VAT
VAT is not applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site.
Please contact Gwen Thomas. Tel: +44 (0)20 7034 4857.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with six residential flats on the upper floors accessed from Kensal Road.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act
Receivers and therefore no warranties or guarantees in any respect, including
VAT, can be given. The information in these particulars has been provided by
the Joint Law of Property Act Receivers to the best of their knowledge but the
purchaser must rely solely upon their own enquiries. The Joint Law of Property
Act Receivers are not bound to accept the highest or any offer and are acting
in respect of this sale without personal liability.
Six Week Completion
VAT
VAT is not applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site.
Please contact Gwen Thomas. Tel: +44 (0)20 7034 4857.
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
Review/(Reversion)
Ground
Retail
46.00 sq m
(495 sq ft)
INDIVIDUAL (t/a Kensal Food & Wine)
15 years from 28/01/2010 until 27/01/2025
£11,000
28/01/2015 and 28/01/2020
Flat 1
Residential – 1 Bedroom
52.00 sq m
(560 sq ft)
THE NEW WORLD ACCOMMODATION LIMITED (1)
3 year AST from 19/07/2009
£14,292
(18/07/2012) (2)
Flat 2
Residential – 2 Bedroom
65.00 sq m
(700 sq ft)
INDIVIDUAL
12 month AST from 10/06/2014
£17,160
(09/06/2015)
Flat 3
Residential – 2 Bedroom
69.00 sq m
(743 sq ft)
INDIVIDUAL
12 month AST from 08/07/2010
£17,160
(07/07/2011) (2)
Flat 4
Residential – 3 Bedroom
61.00 sq m
(657 sq ft)
INDIVIDUAL
10 years from 01/10/1983
£16,640
(30/09/1993) (2)
Flat 5
Residential – 3 Bedroom
61.00 sq m
(657 sq ft)
INDIVIDUAL
2 year AST from 08/01/2014
£17,680
(07/01/2016)
Flat 6
Residential – 1 Bedroom
47.00 sq m
(506 sq ft)
INDIVIDUAL
12 month AST from 12/07/2010
£15,080
(11/07/2011) (2)
Totals
401.00 sq m (3)
(4,318 sq ft) (3)
£109,012 (4)
(1) Flat 1 has been sublet. The subtenant in occupation has been approached regarding a new lease direct from the Landlord and surrender negotiations with The New World Accommodation Ltd are underway. (2)The tenant is currently holding over. (3)The residential floor areas have not been measured by Acuitus. The floor areas stated have been taken from the Energy Performance Certificates and should not be relied on. (4)Please note that the rental income for the residential flats has been annualised.
Contacts
Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street Leeds LS1 2HL
