Maida Vale is a highly affluent and prestigious Central London residential district situated just west of Regents Park and approximately 1.5 miles north of Oxford Street. The property, a prominent corner building, is situated on Clifton Road at the junction with Lanark Road. Nearby occupiers include Café Rouge, Boots, Tesco Express and Oddbins.
Tenure
Freehold.
Location
Distance
400 metres west of Lord's Cricket Ground, 900 metres west of Regents Park, 1.5 miles north-west of Marble Arch
Maida Vale is a highly affluent and prestigious Central London residential district situated just west of Regents Park and approximately 1.5 miles north of Oxford Street. The property, a prominent corner building, is situated on Clifton Road at the junction with Lanark Road. Nearby occupiers include Café Rouge, Boots, Tesco Express and Oddbins.
Tenure
Freehold.
Description
The property is an attractive period building comprising RETAIL ACCOMMODATION on the ground floor and basement together with THREE VALUABLE SELF-CONTAINED ONE BEDROOM FLATS on the first, second and third floors. The property was extensively refurbished in 2006. Each flat is capable of being sold separately by the buyer.
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 is an attractive period building comprising RETAIL ACCOMMODATION on the ground floor and basement together with THREE VALUABLE SELF-CONTAINED ONE BEDROOM FLATS on the first, second and third floors. The property was extensively refurbished in 2006. Each flat is capable of being sold separately by the buyer.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
20 Clifton Road
Basement Basement Ground
Ancillary External Store Retail
72.23 sq m 6.58 sq m 73.92 sq m
(777 sq ft) (71 sq ft) (795 sq ft)
SPICY BAKERY LTD (t/a BAKER AND SPICE) (1)
15 years from 15/09/2006
£70,000 (2)
2011, 2016
Flat 1, 1A Lanark Road
First
Residential
38.74 sq m
(417 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy for 1 year from 28/09/2010 (3)
£17,680
Flat 2, 1A Lanark Road
Second
Residential
38.28 sq m
(412 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy for 1 year from 29/12/2009 (4)
£18,000
Flat 3, 1A Lanark Road
Third
Residential
39.02 sq m
(420 sq ft)
INDIVIDUAL
Assured Shorthold Tenancy for 1 year from 04/01/2010 (5)
£17,160
Totals
268.77 sq m
(2,892 sq ft)
£122,840
(1) Baker and Spice have three stores in London as well as a stand in Selfridges Food Hall. (Source: www.bakerandspice.uk.com)(2) As to the basement and ground floor lease the current rent reserved is £64,000 per annum exclusive. Under the terms of the lease the rent increases to £70,000 per annum exclusive or open market rental value, whichever is the greater, from 31st August 2011. The seller will pay the buyer the difference between the current rent reserved of £64,000 per annum exclusive and £70,000 per annum exclusive from completion of the sale until 31st August 2011.(3) The Assured Shorthold Tenancy provides for a mutual option to determine from 28th March 2011 on giving two months' written notice.(4) The Assured Shorthold Tenancy provides for a mutual option to determine from 29th June 2010 on giving two months' written notice.(5) The Assured Shorthold Tenancy provides for a mutual option to determine from 4th July 2010 on giving two months' written notice.
