20 Clifton Road and Flats 1, 2 and 3, 1A Lanark Road Maida Vale London W9 1ST

20 Clifton Road and Flats 1, 2 and 3, 1A Lanark Road
Maida Vale
London
W9 1ST

Freehold Retail and Residential Investment

Highly affluent Central London location
Retail unit and three valuable self-contained flats
Refurbished in 2006
Just west of Regent's Park approximately 1.5 miles from Marble Arch
Rent reviews in 2011 and 2016
Nearby occupiers include Café Rouge, Boots, Tesco Express and Oddbins
Rent (2)

Lot
10
Auction
21st October 2010
Rent
£122,840 per Annum Exclusive
Status
Sold
Price
£1,985,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

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Freehold Retail and Residential Investment

Highly affluent Central London location
Retail unit and three valuable self-contained flats
Refurbished in 2006
Just west of Regent's Park approximately 1.5 miles from Marble Arch
Rent reviews in 2011 and 2016
Nearby occupiers include Café Rouge, Boots, Tesco Express and Oddbins
Rent (2)

Lot 10
Auction 21st October 2010
Rent £122,840 per Annum Exclusive
Status Sold
Price £1,985,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

Property Information

Location

Distance: 400 metres west of Lord's Cricket Ground, 900 metres west of Regents Park, 1.5 miles north-west of Marble Arch
Roads: A5, A40, A41
Rail: Warwick Avenue Underground (Bakerloo Line), Maida Vale Underground (Bakerloo Line), St John’s Wood Underground (Jubilee Line)
Air: Heathrow Airport, City Airport

Situation

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
Roads: A5, A40, A41
Rail: Warwick Avenue Underground (Bakerloo Line), Maida Vale Underground (Bakerloo Line), St John’s Wood Underground (Jubilee Line)
Air: Heathrow Airport, City Airport

Situation

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

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.