39-40 Paddington Street Marylebone London W1U 4HH

39-40 Paddington Street
Marylebone
London
W1U 4HH

Freehold Retail and Residential Investment

Includes two retail outlets 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
13
Auction
7th April 2011
Rent
£121,900 per Annum Exclusive
Status
Sold
Price
£2,355,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Freehold Retail and Residential Investment

Includes two retail outlets 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 13
Auction 7th April 2011
Rent £121,900 per Annum Exclusive
Status Sold
Price £2,355,000
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 corner period building comprising retail accommodation on the ground floor and four self-contained residential flats on the first, second and third floors. There is ancillary accommodation in the basement.

The neighbouring properties 41 Paddington Street and 67 Chiltern Street are being offered separately as Lots 5 and 10

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

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
39 Paddington Street	Ground Basement	Retail Ancillary	30.3 sq m 59.5 sq m	(326 sq ft) (640 sq ft)	PLAN MEDIA (t/a Bagel Factory) (1)	15 years from 30.04.1998 until 29.04.2013	£23,500
Flat 1, 39 Paddington Street	First	Residential – 1 Bedroom Flat	31.0 sq m	(334 sq ft)	INDIVIDUAL	Assured Shorthold Tenancy for a term of 1 year from 14.12.2010 until 13.12.2011	£11,700
Flat 2, 39 Paddington Street	Second & Third	Residential – 3 Bedroom Maisonette	59.8 sq m	(643 sq ft)	INDIVIDUAL	Assured Shorthold Tenancy for a term of 1 year from 05.05.2010 until 04.05.2011	£23,400
Flat 3, 39 Paddington Street	Second & Third	Residential – 3 Bedroom Maisonette	64.3 sq m	(692 sq ft)	INDIVIDUAL	Assured Shorthold Tenancy for a term of 1 year from 06.08.2010 until 05.08.2011	£26,000.04
Flat 4, 39 Paddington Street	Third	Residential – 1 Bedroom Flat	27.5 sq m	(296 sq ft)	INDIVIDUAL	Assured Shorthold Tenancy for a term of 1 year from 23.11.2010 until 22.11.2011	£14,300.04
40 Paddington Street	Ground Basement	Retail Ancillary	50.7 sq m 8.6 sq m	(546 sq ft) (93 sq ft)	ZAHEED AWAN (t/a Debonaire Cleaners)	15 years from 24.06.2003 until 23.06.2018	£23,000	24.06.2013
	Totals		331.7 sq m	(3,570 sq ft)			£121,900.08