41 Paddington Street London W1U 4HN

41 Paddington Street
London
W1U 4HN

Freehold Retail and Residential Investment

Includes a retail outlet and four self-contained flats
Highly affluent West End location
Close to Oxford Street, Baker Street, Marble Arch and Marylebone High Street
Nearby occupiers include HSBC, Zizzi's and The Real Greek
Six Week Completion Available
The purchaser will pay 1% plus VAT of the purchase price towards the Vendor’s sales costs

Lot
5
Auction
7th April 2011
Rent
£80,960 per Annum Exclusive
Status
Sold
Price
£1,555,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Freehold Retail and Residential Investment

Includes a retail outlet and four self-contained flats
Highly affluent West End location
Close to Oxford Street, Baker Street, Marble Arch and Marylebone High Street
Nearby occupiers include HSBC, Zizzi's and The Real Greek
Six Week Completion Available
The purchaser will pay 1% plus VAT of the purchase price towards the Vendor’s sales costs

Lot 5
Auction 7th April 2011
Rent £80,960 per Annum Exclusive
Status Sold
Price £1,555,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 500 metres south of Regents Park; 800 metres north of Oxford Street
Roads: A40, A5, A41, M1, M40
Rail: Baker Street Tube (Bakerloo, Jubilee, Metropolitan, District and Hammersmith & City lines), Marylebone Overground/Tube (Bakerloo line), Bond Street Tube, Central and Jubilee lines)
Air: Heathrow Airport, City Airport.

Situation

Paddington Street is located in Marylebone, a highly affluent London retail and residential area located, just off Baker Street. The property is located on the northern side of Paddington Street in a mixed use area. Nearby occupiers include HSBC, Zizzi's, The Real Greek and Barclays.

Tenure

Freehold.

Location

Miles: 500 metres south of Regents Park; 800 metres north of Oxford Street
Roads: A40, A5, A41, M1, M40
Rail: Baker Street Tube (Bakerloo, Jubilee, Metropolitan, District and Hammersmith & City lines), Marylebone Overground/Tube (Bakerloo line), Bond Street Tube, Central and Jubilee lines)
Air: Heathrow Airport, City Airport.

Situation

Tenure

Freehold.

Description

The property is an attractive period building comprising a retail unit on the ground floor with ancillary accommodation in the basement and four sef-contained one bedroom flats on the upper floors. The flats are accessed via a separate entrance to the front of the property.

The neighbouring properties 39/40 Paddington Street and 67 Chiltern Street are being offered separately as Lots 10 and 13

NB. The purchaser will pay 1% plus VAT of the purchase price towards the Vendor’s sales costs.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

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
Basement Ground	Retail Ancillary	43.4 sq m 32.8 sq m	(467 sq ft) (353 sq ft)	THE GREENEVER LTD (t/a Elements)	10 years from 29.06.2009 until 28.06.2019	£23,500	29.06.2014
First	Residential – 1 Bedroom Flat	36.7 sq m	(395 sq ft)	INDIVIDUAL	Assured Shorthold Tenancy for a term of 1 year from 19.07.2010 until 18.07.2011	£15,080.04
Second	Residential – 1 Bedroom Flat	35.4 sq m	(381 sq ft)	INDIVIDUAL	Assured Shorthold Tenancy for a term of 1 year until 04.09.2011	£15,600
Third	Residential – 1 Bedroom Flat	34.9 sq m	(376 sq ft)	INDIVIDUAL	Assured Shorthold Tenancy for a term of 1 year currently holding over	£12,480
Fourth	Residential – 1 Bedroom Flat	27.7 sq m	(298 sq ft)	INDIVIDUAL	Assured Shorthold Tenancy for a term of 1 year currently holding over	£14,300.04
Totals		210.9 sq m	(2,270 sq ft)			£80,960.08