The premises has a glazed frontage directly onto Portobello Road, which leads to an open plan retail area occupying the whole ground floor, together with a additional small storage area to the rear edition. The basement is arranged with a storage room to the front of the building and a staff breakout area / kitchenette to the rear, together with staff W/C. There is also a small court yard garden to the rear lower ground floor. Generally in good order.
Commercial Lease Terms - Smart Range Leather Co Limited have been granted an FRI Lease outside the Landlord & Tenant Act 1954, which commenced on 30th June 2013 and was granted for a 10 year term. The Lease is due to terminate on 30th June 2023 and the passing rent is £52,000 per annum (under let in the current market).
Location
The premises are situated in a prime position on the westerly side of Portobello Road in between the junctions with Blenheim Crescent and Elgin Crescent.
Other local businesses include Honest Burger, Five Guys, Electric Diner & Cinema, Coffee Plant, Joe & The Juice, The Humming Bird Café, Gail’s Bakery, Maison Puget Bakery & Café, Portobello Arts Club, Cath Kidson, Kurt Geiger, Admiral Vernon Antique Market, Dolphin Arcade and The Ginstitute. Public transport is accessed via Ladbroke Grove (Hammersmith & City line) and Notting Hill Gate (Central, District & Circle lines).
Accommodation
Ground Floor & Basement - 894.00 sq ft (83.06 sq m)
W/C - 10.00 sq ft (0.93 sq m)
TOTAL - 904.00FT² (83.98M²)
Terms
SALE TERMS: Commercial Lease Terms: Smart Range Leather Co Limited have been granted an FRI Lease outside the Landlord & Tenant Act 1954, which commenced on 30th June 2013 and was granted for a 10 year term. The Lease is due to terminate on 30th June 2023 and the passing rent is £52,000 per annum (under let in the current market).
PRICE: £1,250,000 subject to contract
RATES:
Rateable Value £32,250 per annum
Rates Payable £16,092.75 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 currently occupied by Smart Range Leather Co Ltd, see Commercial Lease Terms
LEGAL COSTS: Each party to be responsible for their own legal costs.
VAT: Not elected for VAT
EPC: Available upon reques
Specification
- A fully retractable glazed frontage
- Full open plan retail area to the ground
- Wood flooring
- Air conditioning
- Kitchenette
- Staff W/C