Notting Hill Co-operative Convenience Store 104 St Ann's Road, Notting Hill London W11 4BU

Notting Hill Co-operative Convenience Store
104 St Ann's Road, Notting Hill
London
W11 4BU

  • Notting Hill Co-operative Convenience Store<br>104 St Ann's Road, Notting Hill<br>London<br>W11 4BU

Freehold Convenience Store Investment in Affluent & Fashionable West London Suburb

  • Entirely let to Co-operative Group Food Limited on an FRI Lease with a guarantee from Co-operative Group Limited
  • 15 year lease from 24th September 2014 (subject to mutual option to break in year 10)
  • 5 yearly upwards only rent reviews linked to RPI (collar and cap of 1% and 4% compounded annually)
  • Next rent review September 2024
  • Prominent corner location on St Ann's Road, on the boundaries of Notting Hill, North Kensington and Shepherd's Bush in a densely populated, mainly residential area
  • Lot
    8
  • Auction
    12/Jul/2022
  • Rent
    £90,801 per Annum Exclusive
  • Status
    Available
  • Price*
    £1,550,000 - £1,600,000
  • Sector
    Supermarket
  • Auction Venue
    Live Streamed Auction
  • On the Instructions of an Oxford College
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
0.5 miles east of Westfield Shopping Centre, 0.8 miles north of Shepherd's Bush, 3 miles west of London's West End
Roads
A3220, A40, A402 (Holland Park Avenue)
Rail
Shepherd's Bush Overground & Underground Station - 500m south-west (Central Line), Latimer Road Underground Station - 300m north (Circle and Hammersmith & City Lines), Holland Park Underground Station - 900m south east (Central Line)
Air
Heathrow Airport
Situation

The property is located on St Ann's Road, a busy thoroughfare on the boundary of the affluent London suburb of Notting Hill linking North Kensington and Kensal Green. The property has a prominent corner position with excellent visibility from St Ann's Road at the junction with Stoneleigh Place and serves the immediate area. The surroundings are primarily residential with Westfield Shopping Centre approx. 1000m to the west and Latimer Road, Shepherd's Bush & Holland Park Tube Stations nearby

Tenure

Freehold.

Location
Miles
0.5 miles east of Westfield Shopping Centre, 0.8 miles north of Shepherd's Bush, 3 miles west of London's West End
Roads
A3220, A40, A402 (Holland Park Avenue)
Rail
Shepherd's Bush Overground & Underground Station - 500m south-west (Central Line), Latimer Road Underground Station - 300m north (Circle and Hammersmith & City Lines), Holland Park Underground Station - 900m south east (Central Line)
Air
Heathrow Airport
Situation

The property is located on St Ann's Road, a busy thoroughfare on the boundary of the affluent London suburb of Notting Hill linking North Kensington and Kensal Green. The property has a prominent corner position with excellent visibility from St Ann's Road at the junction with Stoneleigh Place and serves the immediate area. The surroundings are primarily residential with Westfield Shopping Centre approx. 1000m to the west and Latimer Road, Shepherd's Bush & Holland Park Tube Stations nearby

Tenure

Freehold.

Description

The property comprises a food store arranged over ground, basement and first floors. The ground floor is the main shop floor, a bakery, stockroom, goods-in area and chiller cabinets. The first floor has a management office, staff kitchen, staff WC's and a staff room. The basement is used for general storage.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion

EPC

EPC Band D

Description

The property comprises a food store arranged over ground, basement and first floors. The ground floor is the main shop floor, a bakery, stockroom, goods-in area and chiller cabinets. The first floor has a management office, staff kitchen, staff WC's and a staff room. The basement is used for general storage.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion

EPC

EPC Band D

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x. Rent Review
Ground
Basement
First
Retail/Ancillary
Ancillary
Ancillary
214.00
66.98
78.50
(2,310)
(721)
(845)
CO-OPERATIVE GROUP FOOD LIMITED with a guarantee from CO-OPERATIVE GROUP LIMITED (1) 15 years from 24/09/2014 on a full repairing and insuring lease (2)
£90,801.56
24/09/2024 to RPI (3)
Total  
359.48
(3,876)
   
£90,801.56
 

(1) Co-operative Group Limited is a British consumer co-operative with a family of retail businesses including food retail, wholesale, e-pharmacy, insurance and legal services, and funeral care. The Co-operative Group has over 65,000 employees across the UK and over 2,500 food and convenience stores. For the year ending December 2021 Co-operative Group Limited registered a turnover of £11,200,000,000 and a pre-tax profit of £57,000,000 (www.co-operative.coop)
(2) The lease is subject to a mutual option to determine on 24/09/2024, on not less than 6 months written notice. The lease is excluded from the statutory renewal provisions (sections 24-28) of the Landlord & Tenant Act 1954. The Tenant has the option to renew for a further 15 years on expiry of the term. The rent in the renewal lease will be the rent at term expiry, but then subject to a rent review on the second day of the renewal term to the higher of open market rent or the RPI based increase (with the cap of 4% and collar of 1%)
(3) The rent is reviewed 5 yearly to the RPI (the next rent review being on 24/09/2024), compounded annually, subject to a collar and cap of 1% and 4%.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    29.06.22
    File Size
    25 MB
    Login to View
  • Brochure
    Updated Date
    22.06.22
    File Size
    4 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Edward MartinEdward Martin +44 (0)20 7034 4854 +44 (0)7478 673 535edward.martin@acuitus.co.uk
Seller's Solicitors
Knights Plc Midland House, West Way
Botley
Oxford
OX2 0PH
Philip Marsh +44 (0)1865 811 224philip.marsh@knightsplc.com  Katerina Antoniou 01865 811224Katerina.Antoniou@knightsplc.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now