Lancefield Studios, 1a Beethoven Street, Queens Park, London, W10 4LG
3,854 Sq Ft / Offices
For Sale
- £1,600,000.00
Under Offer - Last updated: 04 November 2024
Summary
Great opportunity for an investor or developer to acquire this income producing period building. The property is arranged over basement, ground, first and second floors. There are 11 artist studios ranging from approximately 165sq ft up to approximately 755sq ft all let on 12 month License Agreements.
The 10 units in the ground to second floor all have good floor to ceiling heights and plenty of natural light mostly with original sash windows. The basement unit has restricted head height.
Total current gross income £111,947 +VAT Electricity is recharged to the Licensees via check meters. Licensees pay their own business rates.
The floor areas referred to in the details and on the floorplans are approximate and should not be relied upon.
Key Points
Period building arranged as 11 individual Artist's Studios with shared WCsFully let on 12 month License Agreements producing £111,947 gross (+VAT) per annumAn initial gross yield of circa 7%Potential for residential conversion (STPP)We believe the property is not within an Article 4 area. Buyers to make their own enquiries.
Viewings
Strictly by appointment via Dutch & Dutch
Location
A short walk from Queens Park's shops, bars and restaurants and Queens Park Tube and Overground Station. Harrow Road, Portobello Road and Notting Hill are also a short walk to the South.
Beethoven Street is home to a mixture of residential as well as other commercial occupiers ranging from Yoga Studios to Recording Studios.
Property Quote Price(s)
| Description | Sale type | Guide price | Price type |
| |
For Sale Freehold
|
£1,600,000.00
| NA |
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