Located moments from Covent Garden in the heart of London's West End
Let to upmarket & renowned seafood restaurant t/a Parsons on ground and basement floors until July 2032 (No breaks)
Two residential apartments above let on long lease
Fashionable and desirable location close to Covent Garden Piazza & Covent Garden Station (300metres), The Royal Opera House & several theatre and retail & hospitality operators
Located moments from Covent Garden in the heart of London's West End
Let to upmarket & renowned seafood restaurant t/a Parsons on ground and basement floors until July 2032 (No breaks)
Two residential apartments above let on long lease
Fashionable and desirable location close to Covent Garden Piazza & Covent Garden Station (300metres), The Royal Opera House & several theatre and retail & hospitality operators
VAT-free investment
Lot 5
Auction 15th May 2025
Rent £55,000 per Annum Exclusive
Status Sold
Price £887,000
Sector Restaurant, Leisure
Auction Venue Live Streamed Auction
Property Information
Location
Miles
250 metres north of Covent Garden, 450 metres north east of Leicester Square
Roads
A40, A400
Rail
Covent Garden (Piccadilly Line), Tottenham Court Road (Northern, Central and Elizabeth Lines), Leicester Square (Northern, Piccadilly Line)
Air
London Heathrow Airport
Situation
Endell Street is located in the heart of London's West End and Theatreland within close proximity to Covent Garden Piazza, Trafalgar Square and Leicester Square. The property is situated on the west side of Endell Street close to its junction with Short's Gardens and some 300 metres from Covent Garden Underground Station. The immediate vicinity is highly popular and fashionable with nearby occupiers including The Shaftesbury Theatre, The Royal Opera House, Top Secret Comedy Club and many desirable restaurants and bars.
Tenure
Freehold.
Location
Miles
250 metres north of Covent Garden, 450 metres north east of Leicester Square
Roads
A40, A400
Rail
Covent Garden (Piccadilly Line), Tottenham Court Road (Northern, Central and Elizabeth Lines), Leicester Square (Northern, Piccadilly Line)
Air
London Heathrow Airport
Situation
Endell Street is located in the heart of London's West End and Theatreland within close proximity to Covent Garden Piazza, Trafalgar Square and Leicester Square. The property is situated on the west side of Endell Street close to its junction with Short's Gardens and some 300 metres from Covent Garden Underground Station. The immediate vicinity is highly popular and fashionable with nearby occupiers including The Shaftesbury Theatre, The Royal Opera House, Top Secret Comedy Club and many desirable restaurants and bars.
Tenure
Freehold.
Description
The property, which is not listed, comprises a restaurant arranged on the ground and basement floors, with two separately accessed flats on the upper three floors, let on a long lease. Externally, the property benefits from terraced seating to the front.
VAT
VAT is not applicable to this lot.
Note
As to the residential flats, the tenant has been served notice pursuant to Section 5B of the Landlord and Tenant Act 1987. The tenant has not responded to the notice within the timeframe (or not at all). Therefore, the tenant is not able to exercise their rights of pre-emption on this sale.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, which is not listed, comprises a restaurant arranged on the ground and basement floors, with two separately accessed flats on the upper three floors, let on a long lease. Externally, the property benefits from terraced seating to the front.
VAT
VAT is not applicable to this lot.
Note
As to the residential flats, the tenant has been served notice pursuant to Section 5B of the Landlord and Tenant Act 1987. The tenant has not responded to the notice within the timeframe (or not at all). Therefore, the tenant is not able to exercise their rights of pre-emption on this sale.
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
Rent p.a.x.
Rent Review
Ground Basement
Restaurant Ancillary
35.30 61.97
(380) (667)
VERDELIN LIMITED t/a Parsons (1)
10 years from 08/07/2022
£55,000
08/07/2027
First Second/Third
Studio Flat 2 bed maisonette
-
-
ONE HOUSING GROUP LIMITED
150 years from 24/06/1988
Peppercorn
-
Total Approximate Commercial Floor Area
97.27
(1,047)
£55,000
(1) Parsons is a boutique seafood restaurant established in 2017. The tenant has occupied the premises since 2018 and no incentives or rent-free periods were conceded at the renewal in 2022. A £20,000 rent deposit is held by the landlord.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
