132, 134, 136, 138, 142, 146 / 148 Edgware Road & 22 - 23 Nutford Place (and First Floor Flats) London W2 2DZ

  • 132, 134, 136, 138, 142, 146 / 148 Edgware Road & 22 - 23 Nutford Place (and First Floor Flats)<br>London<br>W2 2DZ

132, 134, 136, 138, 142, 146 / 148 Edgware Road & 22 - 23 Nutford Place (and First Floor Flats)
London
W2 2DZ

Substantial Central London Retail and Residential Investment

  • Retail Parade comprising 7 shops (including 3 restaurants) and 2 flats
  • Let to tenants including Ryman Limited
  • Asset Management Opportunities
  • Located close to Waitrose, Tesco Metro, Costa, Caffè Nero & Marriott Hotel (Marble Arch)
  • Between Edgware Road and Marble Arch Underground Stations in popular Central London location
  • Lot
    9
  • Auction
    13th July 2017
  • Rent
    Gross: £320,000 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of LaSalle Investment Management
Important UpdateInterested?
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Substantial Central London Retail and Residential Investment

  • Retail Parade comprising 7 shops (including 3 restaurants) and 2 flats
  • Let to tenants including Ryman Limited
  • Asset Management Opportunities
  • Located close to Waitrose, Tesco Metro, Costa, Caffè Nero & Marriott Hotel (Marble Arch)
  • Between Edgware Road and Marble Arch Underground Stations in popular Central London location
  • Lot 9
  • Auction 13th July 2017
  • Rent Gross: £320,000 per Annum Exclusive
  • Status Sold Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of LaSalle Investment Management

Property Information

Location
Miles
0.3 miles from Hyde Park, 0.6 miles from Regent’s Park
Roads
A5 (Edgware Road), A40 (Westway), A4202 (Park Lane)
Rail
Edgware Road Station (450m)
Marble Arch Railway Station (550m)
Situation

The property is prominently situated on the eastern side of Edgware Road (A5), between its junctions with Nutford Place and Harrowby Street. The property is located between The Grosvenor Victoria Casino and The Marriott Hotel (Marble Arch). Other retailers on Edgware Road include Waitrose, Boots the Chemist, Starbucks, Pret a Manger, Caffè Nero and branches of Lloyds, HSBC, and Halifax banks.

Tenure

Leasehold. Held on an intermediate leasehold interest for a term of 54 years (less 3 days) from 25th March 1979 until 22nd March 2033 at a peppercorn rent (plus an insurance and services/plant contribution) (3). The freehold is held by The Portman Estate.

Location
Miles
0.3 miles from Hyde Park, 0.6 miles from Regent’s Park
Roads
A5 (Edgware Road), A40 (Westway), A4202 (Park Lane)
Rail
Edgware Road Station (450m)
Marble Arch Railway Station (550m)
Situation

The property is prominently situated on the eastern side of Edgware Road (A5), between its junctions with Nutford Place and Harrowby Street. The property is located between The Grosvenor Victoria Casino and The Marriott Hotel (Marble Arch). Other retailers on Edgware Road include Waitrose, Boots the Chemist, Starbucks, Pret a Manger, Caffè Nero and branches of Lloyds, HSBC, and Halifax banks.

Tenure

Leasehold. Held on an intermediate leasehold interest for a term of 54 years (less 3 days) from 25th March 1979 until 22nd March 2033 at a peppercorn rent (plus an insurance and services/plant contribution) (3). The freehold is held by The Portman Estate.

Description

The property comprises seven shops (including three restaurants) and two flats arranged on the ground, basement and part first floors, forming part of a larger building.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises seven shops (including three restaurants) and two flats arranged on the ground, basement and part first floors, forming part of a larger building.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

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 Review
132
Edgware
Road		 Ground
Basement
First		 Restaurant
Ancillary
Residential Flat
-
-
-
(-)
(-)
(-)
 UNIQUE PUB
PROPERTIES
LIMITED sublet to
tenant t/a Al Arez
Restaurant		 Approximately
97 years from
25/03/1936
until
22/03/2033		 £230 -
134
Edgware
Road		 Ground
Basement		 Retail
Ancillary
111.49 sq m
100.00 sq m
(1,200 sq ft)
(1,077 sq ft)
 J F STONE
INVESTMENTS
LIMITED t/a Al
Khalee’s Dry
Cleaners being
assigned to
CINNABON BOND
STREET LIMITED		 Approximately
15 years from
02/03/2004
until
24/12/2019		 £80,000 -
136
Edgware
Road		 Ground/
Mezzanine
Basement
First		 Retail/Ancillary

Ancillary
Residential Flat
144.50 sq m

187.50 sq m
-
(1,555 sq ft)

(2,018 sq ft)
(-)
 RENCO
PROPERTIES
LIMITED sublet to J
MINDEL TRADING
LIMITED t/a Mindels
Travel Goods		 Approximately
98 years from
25/03/1935
until
22/03/2033		 £700 -
138
Edgware
Road		 Ground
Basement		 Restaurant
Ancillary
111.90 sq m
18.80 sq m
(1,204 sq ft)
(202 sq ft)
 S U AHMED
t/a Mahal Indian
Restaurant		 Approximately
25 years from
25/03/2008
until
18/03/2033		 £69,000 25/03/2018
and five
yearly
thereafter
138
Edgware
Road		 Part
Basement		 -
-
-
 RENCO
PROPERTIES
LIMITED sublet to J
MINDEL TRADING
LIMITED t/a Mindels
Travel Goods		 Approximately
80 years from
05/05/1952
until
22/03/2033		 £70  
142
Edgware
Road		 Ground/
Mezzanine
Basement		 Retail/Ancillary

Rehearsal
Rooms/Ancillary
188.21 sq m

428.83 sq m
(2,026 sq ft)

(4,616 sq ft)
 JACQUES SAMUEL
PIANOS LIMITED
t/a Jacques Samuel
Pianos		 Approximately
50 years from
25/12/1982
until
15/03/2033		 Peppercorn  
146/148
Edgware
Road		 Ground
Basement		 Retail/Ancillary
Ancillary
225.01 sq m
-
(2,422 sq ft)
(-)
 RYMAN LIMITED
(1)		 10 years from
25/12/2007
until
24/12/2017
(2)		 £135,000  
22/23
Nutford
Place		 Ground Restaurant
56.93 sq m
(613 sq ft)
 P D K JAFARI
t/a Safa Iranian &
Turkish Restaurant)		 Approximately
18 years from
25/12/1999
until
25/03/2018		 £35,000  
Totals   1,573.08 sq m (16,933 sq ft)     £320,000  

(1) For the year ending 26th March 2016, Ryman Limited reported a turnover of £127,661,000, pre-tax profits of £8,052,000 and a total net worth of £48,693,000 (Source: Experian Group 14/06/2017).
(2) Negotiations have commenced between the Vendor and Ryman Limited in respect of a new lease, but to date no notices have been served by the Vendor or the tenant.
(3) The headrent comprises a peppercorn rent plus an insurance and services/plant contribution which in 2016 totalled £15,730.

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Hogan Lovells International LLP Atlantic House, Holborn Viaduct
London
EC1A 2FG
Paul Stones 0207 296 2000paul.stones@hoganlovells.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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