A four storey, plus basement, mid terraced property comprising vacant restaurant to the ground floor and basement and three self contained flats to the upper floors, with separate access from Earl’s Court Road.
Location
Earl’s Court is a district in West London within the borough of Kensington and Chelsea, bordering South Kensington to the east, West Kensington to the West, Chelsea to the south and Kensington to the North.
It is served by the District and Piccadilly lines on the London Underground.
Earl’s Court Road (A3220) connects north to south with Cromwell Road (A4) and connects with West Cromwell A3218. Earl’s Court is a wealthy suburb of Central London.
The subject property is situated in a very strong retailing and leisure pitch just to the south of Earl’s Court tube station entrance.
The unit is surrounded by well-known occupiers including Franca Manca, Byron, Pret a Manger, Marks & Spencer, Blackbird Public House and Paul to name but a few.
Olympia London is located close by and brings substantial levels of footfall into the area when events are held.
Accommodation
The premises are fitted out to a high standard. The restaurant has a large front area plus an area at the back of the premises that can be booked for private functions. The kitchen and additional restaurant space are in the basement. The upper floors comprise a 1bed, 2 bed and 3 bed flat.
The premises benefit from the following approximate net floor areas:
Ground floor (restaurant): 116.03 sq m (1,249 sq ft)
Basement (restaurant/ kitchen): 94.11 sq m (1,013 sq ft)
First floor (residential) 61.59 sq m (663 sq ft)
Second floor (residential) 62.24 sq m (670 sq ft)
Third floor (residential) 62.43 sq m (672 sq ft)
Fourth floor (residential) 21.12 sq m (228 sq ft)
Total: 417.58 sq m (4,495 sq ft)
Terms
Planning - A ground floor and basement unit with A3 use. The upper floors are three self-contained residential flats with C3 use, in accordance with the Town and Country Planning Act 1987 (as amended). The subject property is not listed, however, it does sit within the Courtfield Conservation Area.
Business Rates - The property is in an area administered by Kensington & Chelsea. The property is described on the VOA website as ‘Restaurant and Premises’ and shows a Rateable Value of £86,000 effective from the 1st April 2017.
VAT - All prices quoted and offers made shall be deemed to be exclusive of VAT and VAT will be added where applicable. In most cases VAT is reclaimable. Prospective purchasers should consult their accountant for professional advice in this respect.
Proposal - We are instructed to seek offers in the region of £3,600,000 subject to contract.
Alternatively, the whole property is available on a new FRI lease for a term of 15 years with a rent of £145,000 p.a.
Premises Licence - A premises licence prevails, the main licensable activities being;
Sale by retail of alcohol for consumption on the premises only:
Monday- Friday 10am until 12 midnight
Saturday 11am until 12 midnight
Sunday 12noon until XXXm
Late night refreshments (indoors)
Monday- Saturday Until XXXm
Sunday Until 12midnight
Playing of recorded music (indoors) 24 hours.
EPC - An Energy Performance Certificate is being prepared by our client and will be made available to prospective purchasers in due course.
Tenure - The property is held freehold within an SPV and will be sold with vacant possession.
Specification
- Prime Earl’s Court location
- Opposite Earl’s Court Station
- Strong food & beverage and retailing pitch
- Ground & basement restaurant
- Upper parts comprise 3 self-contained flats
- Leasehold option available