12 Chepstow Road Notting Hill London W2 5BD

12 Chepstow Road
Notting Hill
London
W2 5BD

Freehold Leisure (D2) and Residential Investment

Let to Barretoned Ltd on a new 5 year lease (www.barretoned.com)
Affluent and fashionable Central London location
Retail unit approximately 179 sq m (1,929 sq ft)
Fixed rental increases
1.8 miles from London’s West End
Future residential redevelopment potential of the rear (subject to consents)
Six Week Completion

Lot
30
Auction
23rd May 2013
Rent
£75,050 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA

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Freehold Leisure (D2) and Residential Investment

Let to Barretoned Ltd on a new 5 year lease (www.barretoned.com)
Affluent and fashionable Central London location
Retail unit approximately 179 sq m (1,929 sq ft)
Fixed rental increases
1.8 miles from London’s West End
Future residential redevelopment potential of the rear (subject to consents)
Six Week Completion

Lot 30
Auction 23rd May 2013
Rent £75,050 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA

Property Information

Location

Miles: 0.6 miles north of Kensington Gardens; 1.8 miles east of London’s West End; 1 mile east of Paddington Station
Roads: Edgware Road (A5), Oxford Street (A40), Bayswater Road (A402)
Rail: Paddington National Rail Station, Bayswater Underground Station (Circle and District), Paddington Underground (Bakerloo, Jubilee, Hammersmith & City, Circle and District)
Air: London City Airport, Heathrow Airport

Situation

Chepstow Road is situated in Notting Hill, a highly attractive, fashionable and affluent West London suburb, located 1.8 miles east of Marble Arch and Oxford Street, London’s premier retail location. The property is situated on the east side of Chepstow Road, close to the busy junction with Westbourne Grove. Nearby occupiers include Carluccio’s, Starbucks, Caffè Nero, Monsoon and Sweaty Betty.

Tenure

Freehold.

Location

Miles: 0.6 miles north of Kensington Gardens; 1.8 miles east of London’s West End; 1 mile east of Paddington Station
Roads: Edgware Road (A5), Oxford Street (A40), Bayswater Road (A402)
Rail: Paddington National Rail Station, Bayswater Underground Station (Circle and District), Paddington Underground (Bakerloo, Jubilee, Hammersmith & City, Circle and District)
Air: London City Airport, Heathrow Airport

Situation

Tenure

Freehold.

Description

The property comprises extensive leisure accommodation on the ground floor and basement, while the first and second floor comprises a residential maisonette.

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 extensive leisure accommodation on the ground floor and basement, while the first and second floor comprises a residential maisonette.

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	Leisure and Ancillary Leisure	78.59 sq m 100.67 sq m	(846 sq ft) (1,083 sq ft)	BARRETONED LTD (1) (4)	5 years from 01/03/2013 (3)	£75,000 (2)	01/02/2014 and 01/02/2015
First & Second	Maisonette	Not Measured		INDIVIDUALS	999 years from 25/12/1998	£50
Roof Space	Not currently used	Not Measured		INDIVIDUAL	999 years from 25/12/2011	Peppercorn
Totals		179.26 sq m	(1,929 sq ft)			£75,050

(1) Barretoned Ltd has been incorporated since 2011. (www.barretoned.com 25/04/2013).
(2) The current rent reserved under the terms of the lease is £65,000 per annum exclusive. The lease provides for the rent to be increased to £70,000 per annum
exclusive on 1st February 2014 and £75,000 p.a.x. on 1st February 2015. The seller will pay the buyer the difference between the current rent reserved of £65,000 per annum exclusive and £75,000 p.a.x. from completion of the sale until 31st January 2014 and the difference between £70,000 p.a.x and £75,000
p.a.x from 1st February 2014 to the 31st January 2015. Therefore the property will produce £75,050 p.a.x. from completion of the sale.
(3) The lease is inside the security of the tenure provisions of the Landlord and Tenant Act 1954.
(4) The seller is holding a rent deposit of £37,500.