7 Elgin Crescent off Portobello Road Notting Hill London W11 2JA

7 Elgin Crescent
off Portobello Road
Notting Hill
London
W11 2JA

Freehold Retail and Residential Ground Rent Investment

Let to Save the Children Fund on a new 10 year lease (subject to option)
Highly affluent and fashionable Central London location 2 miles from London’s West End
Highly attractive building close to the famous Portobello Road Market
Nearby occupiers include Neil’s Yard Remedies, Cath Kidston and Kurt Geiger
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
4
Auction
22nd October 2015
Rent
£60,500 per Annum Exclusive
Status
Sold
Price
£1,450,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail and Residential Ground Rent Investment

Let to Save the Children Fund on a new 10 year lease (subject to option)
Highly affluent and fashionable Central London location 2 miles from London’s West End
Highly attractive building close to the famous Portobello Road Market
Nearby occupiers include Neil’s Yard Remedies, Cath Kidston and Kurt Geiger
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 4
Auction 22nd October 2015
Rent £60,500 per Annum Exclusive
Status Sold
Price £1,450,000
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 2 miles west of London’s West End, 1.5 miles west of Paddington Station, 0.8 miles north of Holland Park
Roads: A40, A3220
Rail: Notting Hill Gate (Central Line) and Ladbroke Grove (Hammersmith & City and Circle Line) Underground Stations
Air: London Heathrow Airport, London City Airport

Situation

Notting Hill is a highly attractive, fashionable and affluent West London suburb, located some 2 miles west of Marble Arch and Oxford Street, approximately 1 mile north of Holland Park and Kensington Gardens. The property is situated on the south side of Elgin Crescent between its junction with both Portobello Road and Kensington Park Road. Neighbouring occupiers include Neil’s Yard Remedies, Cath Kidston and Kurt Geiger as well as an eclectic mix of boutique retailers and the famous Portobello Road Market.

Tenure

Freehold.

Location

Miles: 2 miles west of London’s West End, 1.5 miles west of Paddington Station, 0.8 miles north of Holland Park
Roads: A40, A3220
Rail: Notting Hill Gate (Central Line) and Ladbroke Grove (Hammersmith & City and Circle Line) Underground Stations
Air: London Heathrow Airport, London City Airport

Situation

Tenure

Freehold.

Description

The property, an attractive unit, comprises basement and ground floor retail/ancillary accommodation and a self-contained maisonette accessed from the front of the property.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not 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
Basement Ground	Ancillary Retail	53.40 sq m 57.10 sq m	(574.80 sq ft) (614.62 sq ft)	SAVE THE CHILDREN FUND (t/a Mary’s Living and Giving) (1)	10 years from 26/06/2015 on a full repairing and insuring lease (2)	£60,000	26/08/2020
First and Second	Residential Maisonette	Not Measured		INDIVIDUAL	125 years from 01/01/2013	£500 (3)
Total Commercial Area		110.50 sq m	(1,189 sq ft)			£60,500

(1) For the year ending 31/12/2014, Save the Children Fund reported pre-tax profits of £14,346,000 and a total net worth of £108,094,000. (Source: www.experian.co.uk 21/09/2015)
(2)The lease provides for a tenant’s option to determine the lease on 25/08/2021, subject to no less than 6 months notice.
(3)The ground rent is £500 p.a.x. until 31/12/2036 and then doubles every 25 years of the term.