Ground and basement let to Collage Gifts Ltd until 2020
Three self-contained residential flats to be offered with vacant possession
Located directly opposite the Wellington House Land Securities retail/residential development and less than 250 metres from Buckingham Palace
Six Week Completion Period Available
Rent rising to £35,000 per annum exclusive in 2012
Lot 7
Auction 18th October 2011
Rent £32,500 per Annum Exclusive
Status Withdrawn Prior
Price
Sector High Street Retail
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
On Behalf of Joint LPA Receivers, Edward Symmons
Property Information
Location
Miles
0.3 miles from Buckingham Palace, 0.4 miles from Victoria, 0.6 miles from Westminster
Roads
B323, A302
Rail
St James Park Underground Station (District and Circle Lines) Victoria Railway Station and Underground Station (Victoria, District and Circle Lines)
Air
London City Airport
Situation
The property is situated in a prominent location on the northern side of Petty France, near its junction with Buckingham Gate. The property is situated directly opposite Wellington House, the Land Securities retail/residential development (www.landsecuritieslondon.com) and within walking distance of Buckingham Palace, Green Park, Victoria Railway Station and Westminster.
Tenure
Freehold.
Location
Miles
0.3 miles from Buckingham Palace, 0.4 miles from Victoria, 0.6 miles from Westminster
Roads
B323, A302
Rail
St James Park Underground Station (District and Circle Lines) Victoria Railway Station and Underground Station (Victoria, District and Circle Lines)
Air
London City Airport
Situation
The property is situated in a prominent location on the northern side of Petty France, near its junction with Buckingham Gate. The property is situated directly opposite Wellington House, the Land Securities retail/residential development (www.landsecuritieslondon.com) and within walking distance of Buckingham Palace, Green Park, Victoria Railway Station and Westminster.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with basement ancillary accommodation. The property also benefits from three self-contained residential flats on first, second and third floors, accessed via Petty France.
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 can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability
VAT
VAT is not applicable to this lot.
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 basement ancillary accommodation. The property also benefits from three self-contained residential flats on first, second and third floors, accessed via Petty France.
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 can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability
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/ Ancillary
37.99 sq m 54.75 sq m
(409 sq ft) (589 sq ft)
COLLAGE GIFTS LTD (1)
10 years from 24/06/2010 until 23/06/2020 on a full repairing and insuring lease
£32,500 (2)
24/06/2015
First
Residential – 1 Bedroom
40.19 sq m
(433 sq ft)
VACANT POSSESSION)
Second
Residential – Studio
40.81 sq m
(439 sq ft)
VACANT POSSESSION
Third
Residential – 1 Bedroom
39.61 sq m
(426 sq ft)
VACANT POSSESSION
Totals
213.35 sq m
(2,296 sq ft)
£32,500 (2)
(1) Collage Gifts Ltd has traditionally been a trading company as well as importers of gift items, specialising in London souvenirs. They also trade from another retail unit near Leicester Square. (Source: www.collagegifts.co.uk 14/09/2011) (2) There is a fixed rental uplift to £35,000 p.a.x. on 24th June 2012.
