Ground floor and basement let to Kentucky Fried Chicken (GB) Limited on a 15 year lease until 2021
Prominently located in the affluent area of Maida Vale, some 1.8 miles north-west of London's West End
Nearby occupiers include William Hill, Martin & Co Estate Agents and a variety of local retailers
Six Week Completion Period Available
Lot 4
Auction 18th October 2011
Rent £62,320 per Annum Exclusive
Status Sold
Price £875,000
Sector High Street Retail
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
0.6 miles north-east of Notting Hill, 1.2 miles north of Hyde Park, 1.8 miles north-west of West End
Roads
A404, A40 Westway
Rail
Warwick Avenue (Bakerloo line) and , Royal Oak (Hammersmith & City and Circle lines)
Air
London City Airport, London Heathrow
Situation
Located in the thriving West London district of Maida Vale, the property is situated in a prominent location on the northern side of the busy Harrow Road (A404) some 500 yards from its junction with the A40 Westway which leads directly into Central London.
Tenure
Freehold.
Location
Miles
0.6 miles north-east of Notting Hill, 1.2 miles north of Hyde Park, 1.8 miles north-west of West End
Roads
A404, A40 Westway
Rail
Warwick Avenue (Bakerloo line) and , Royal Oak (Hammersmith & City and Circle lines)
Air
London City Airport, London Heathrow
Situation
Located in the thriving West London district of Maida Vale, the property is situated in a prominent location on the northern side of the busy Harrow Road (A404) some 500 yards from its junction with the A40 Westway which leads directly into Central London.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with basement staff and storage accommodation and three self-contained residential flats on first, second and third floors, accessed via Harrow Road. The property also benefits from a yard to the rear where external fridges are currently kept.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with basement staff and storage accommodation and three self-contained residential flats on first, second and third floors, accessed via Harrow Road. The property also benefits from a yard to the rear where external fridges are currently kept.
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
Ground Basement
Retail Staff/Storage
48.00 sq m 54.97 sq m
(517 sq ft) (591 sq ft)
KENTUCKY FRIED CHICKEN (GB) LIMITED (1)
15 years from 25/12/2006 until 24/12/2021 on a full repairing and insuring lease
£28,000
25/12/2011 and 25/12/2016
First
Residential
39.20 sq m
(422 sq ft)
ASSURED RENT LIMITED
24 months from 11/09/2010 until 10/09/2012
£11,439.96 (2) (3)
Second
Residential
39.00 sq m
(420 sq ft)
ASSURED RENT LIMITED
18 months from 23/03/2011 until 22/09/2012
£11,439.96 (2) (3)
Third
Residential
40.50 sq m
(436 sq ft)
ASSURED RENT LIMITED
36 months from 29/07/2010 until 28/07/2013
£11,439.96 (2) (3)
Ground
Storage
2.23 sq m
(24 sq ft)
VACANT POSSESSION
Mezzanine
Storage
3.72 sq m
(40 sq ft)
VACANT POSSESSION
Totals
227.62 sq m
(2,450 sq ft)
£62,319.88
(1) For the year ending 29th November 2009, Kentucky Fried Chicken (Great Britain) Limited reported a turnover of £360,109,000, pre-tax profits of £41,987,000 and a total net worth of £58,580,000. (Source: www.riskdisk.com 26/07/2011) (2) The rent has been annualised. (3) The rental income shown represents the gross rent p.a.x. before agency fees and costs.
Contacts
Seller's Solicitors
Berwins Solicitors 2 North Park Road, Harrogate North Yorkshire HG1 5PA
