358 Harrow Road, Maida Hill City of Westminster London W9 2HT

358 Harrow Road, Maida Hill
City of Westminster
London
W9 2HT

Freehold Retail and Residential Investment

Ground floor and basement let to Kentucky Fried Chicken (GB) Limited on a 15 year lease until 2021
Prominently located in the affluent area of Maida Vale, some 1.8 miles north-west of London's West End
Nearby occupiers include William Hill, Martin & Co Estate Agents and a variety of local retailers
Six Week Completion Period Available

Lot
4
Auction
18th October 2011
Rent
£62,320 per Annum Exclusive
Status
Sold
Price
£875,000
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Retail and Residential Investment

Ground floor and basement let to Kentucky Fried Chicken (GB) Limited on a 15 year lease until 2021
Prominently located in the affluent area of Maida Vale, some 1.8 miles north-west of London's West End
Nearby occupiers include William Hill, Martin & Co Estate Agents and a variety of local retailers
Six Week Completion Period Available

Lot 4
Auction 18th October 2011
Rent £62,320 per Annum Exclusive
Status Sold
Price £875,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 0.6 miles north-east of Notting Hill, 1.2 miles north of Hyde Park, 1.8 miles north-west of West End
Roads: A404, A40 Westway
Rail: Warwick Avenue (Bakerloo line) and , Royal Oak (Hammersmith & City and Circle lines)
Air: London City Airport, London Heathrow

Situation

Located in the thriving West London district of Maida Vale, the property is situated in a prominent location on the northern side of the busy Harrow Road (A404) some 500 yards from its junction with the A40 Westway which leads directly into Central London.

Tenure

Freehold.

Location

Miles: 0.6 miles north-east of Notting Hill, 1.2 miles north of Hyde Park, 1.8 miles north-west of West End
Roads: A404, A40 Westway
Rail: Warwick Avenue (Bakerloo line) and , Royal Oak (Hammersmith & City and Circle lines)
Air: London City Airport, London Heathrow

Situation

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with basement staff and storage accommodation and three self-contained residential flats on first, second and third floors, accessed via Harrow Road. The property also benefits from a yard to the rear where external fridges are currently kept.

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	Reviews
Ground Basement	Retail Staff/Storage	48.00 sq m 54.97 sq m	(517 sq ft) (591 sq ft)	KENTUCKY FRIED CHICKEN (GB) LIMITED (1)	15 years from 25/12/2006 until 24/12/2021 on a full repairing and insuring lease	£28,000	25/12/2011 and 25/12/2016
First	Residential	39.20 sq m	(422 sq ft)	ASSURED RENT LIMITED	24 months from 11/09/2010 until 10/09/2012	£11,439.96 (2) (3)
Second	Residential	39.00 sq m	(420 sq ft)	ASSURED RENT LIMITED	18 months from 23/03/2011 until 22/09/2012	£11,439.96 (2) (3)
Third	Residential	40.50 sq m	(436 sq ft)	ASSURED RENT LIMITED	36 months from 29/07/2010 until 28/07/2013	£11,439.96 (2) (3)
Ground	Storage	2.23 sq m	(24 sq ft)	VACANT POSSESSION
Mezzanine	Storage	3.72 sq m	(40 sq ft)	VACANT POSSESSION
Totals		227.62 sq m	(2,450 sq ft)			£62,319.88

(1) For the year ending 29th November 2009, Kentucky Fried Chicken (Great Britain) Limited reported a turnover of £360,109,000, pre-tax profits of £41,987,000 and a total net worth of £58,580,000. (Source: www.riskdisk.com 26/07/2011)
(2) The rent has been annualised.
(3) The rental income shown represents the gross rent p.a.x. before agency fees and costs.