A 3 storey, mixed-use, Victorian terraced building (Use Class E & C3), with a fully glazed frontage leading to an open plan retail area with fitting room to the rear. The basement is divided with 3 storerooms, a staff breakout area fitted with a kitchenette and a W/C. To the rear of the basement is access to a courtyard, ideal for bin and bike storage.
The upper floors are arranged as 3 independent 1 bedroom flats, one flat per floor. Each of the flats comprise a double bedroom, shower room and an open plan reception / kitchen. Each in good letting condition.
Location
The building is situated on the northerly side of Notting Hill Gate in between the junctions with Linden Gardens and Clanricarde Gardens. Other local and neighbouring businesses include, Zizzi, Café Diana, Eat Tokyo, Nandos, Vodaphone, Rymans, Music & Video Exchange, Waterstones, Barclays, HSBC and Lloyds bank. Public transport is within a short walk on Notting Hill Gate (Central, District & Circle lines).
Accommodation
Shop & Basement - 1,258.00 sq ft (116.87 sq m)
1st Floor Flat - 418.00 sq ft (38.83 sq m)
2nd Floor Flat - 444.00 sq ft (41.25 sq m)
3rd Floor Flat - 536.00 sq ft (49.80 sq m)
TOTAL - 2,656.00 sq ft (246.75 sq m)
Terms
SALE TERMS: Commercial Lease: The premises are let to The Royal Trinity Hospice London who have been granted an FRI Lease outside the Landlord & Tenant Act 1954 for a term of 8 years, Lease commencing on 01st August 2022 and terminating on 31st July 2030. The passing rent is £50,000 per annum, exclusive of VAT.
Residential Tenancies: The 1st, 2nd & 3rd floor 1 bedroom flats are all let on 1 year AST Leases.
Flat 1 / £23,536.32 per annum; Flat 2 / £21,000 per annum; Flat 3 / £23,430.24 per annum.
PRICE: £2,950,000.00
SERVICE CHARGE: On application.
RATES:
Rateable Value: £49,000 per annum // Rates Payable: £24,451 per annum // NB - We strongly recommend that you verify the rates with the Royal Borough of Kensington & Chelsea's Business Rates Department on 0207 361 2828.
POSSESSION: The premises is sold with Tenants Royal Trinity Hospice and 3 residential Tenants, on AST Leases, in occupation.
LEGAL COSTS: Each party to be responsible for their own legal costs.
VAT: Not elected for VAT.
EPC: Available upon request.
Specification
- Fully glazed retail frontage
- Good ceiling height to retail area
- Open plan retail area
- Basement storage
- Three 1 bedroom flats
- Independent heating systems
- Mains linked smoke alarm system
- Emergency lighting