Freehold Central London Residential Re-Development Opportunity with Planning Consent
Comprises a Shop and Vacant Self-Contained Upper Parts
Planning Permission Granted for Conversion to a Single House
Retail Unit Licence Mutually determinable on 30 days Notice.
Approximately 1,436 sq ft (136.35 sq m) and a Roof Terrace
Extremely Affluent South West London Location
150m East of Sloane Square, 400m South-West of Buckingham Palace and 850m South of Hyde Park, 500m east of Saatchi Art Gallery
Lot 16
Auction 9th May 2024
Rent £12,000 per Annum Exclusive (Licence on Shop determinable on 30 days notice) with Vacant Possession of Upper Parts
Status Available
Guide* £2,400,000
Sector Development
Auction Venue Live Streamed Auction
Property Information
Location
Miles
150m east of Sloane Square, 400m south west of Buckingham Palace, 850m south of Hyde Park
Rail
Sloane Square Underground (Circle and District), Victoria Overground and Victoria Underground Station (Circle, District and Victoria), South Kensington Underground Station (Piccadilly, Circle and District)
Air
London Heathrow, London Gatwick and London City Airports
Situation
The property is prominently located on Chester Row at its junction with Bourne Street, 150m east of Sloane Square. Sloane square is an extremely affluent and fashionable area of London, described as the heart of Chelsea, offering a wide selection of high-end stores and fine dining restaurants. The immediate locality to the property is primarily residential.
Tenure
Freehold.
Location
Miles
150m east of Sloane Square, 400m south west of Buckingham Palace, 850m south of Hyde Park
Rail
Sloane Square Underground (Circle and District), Victoria Overground and Victoria Underground Station (Circle, District and Victoria), South Kensington Underground Station (Piccadilly, Circle and District)
Air
London Heathrow, London Gatwick and London City Airports
Situation
The property is prominently located on Chester Row at its junction with Bourne Street, 150m east of Sloane Square. Sloane square is an extremely affluent and fashionable area of London, described as the heart of Chelsea, offering a wide selection of high-end stores and fine dining restaurants. The immediate locality to the property is primarily residential.
Tenure
Freehold.
Description
The property is an attractive period corner building comprising a self-contained ground floor shop with self-contained upper parts. The property also benefits from a rooftop terrace.
VAT
VAT is not applicable to this lot.
Planning
The property does not appear as Listed on the Historic England website but is within the Belgravia Conservation Area.
A planning application has been granted by Westminster City Council under planning ref: 23/08701/FUL for the approved change of use of the entire property to a single residential dwelling (www.westminster.gov.uk).
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property is an attractive period corner building comprising a self-contained ground floor shop with self-contained upper parts. The property also benefits from a rooftop terrace.
VAT
VAT is not applicable to this lot.
Planning
The property does not appear as Listed on the Historic England website but is within the Belgravia Conservation Area.
A planning application has been granted by Westminster City Council under planning ref: 23/08701/FUL for the approved change of use of the entire property to a single residential dwelling (www.westminster.gov.uk).
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Licence Fee
Ground
Retail
46.15
(497)
AN INDIVIDUAL
Monthly Licence
£12,000 (1)
First Second
Ancillary Ancillary
51.20 39.00
(551) (388)
VACANT POSSESSION
-
-
Total Approximate Floor Area
136.35
(1,436)
£12,000
(1) As to the ground floor shop, the landlord can determine the licence on 30 days notice. The licence fee is being paid monthly and the figure stated above has been annualised.
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.
