253 Old Brompton Road Kensington London SW5 9HP

253 Old Brompton Road
Kensington
London
SW5 9HP

Freehold Restaurant and Residential Investment

Attractive 5 Storey Terraced Building Comprising Restaurant and 4 bed Duplex
Entirely let to an Italian Restaurant t/a La Pappardella
Refurbishment Potential (subject to consents)
Highly Affluent and Popular London Location
Prominently Situated on Old Brompton Road (A3218)
200 metres south of Earls Court Station (District, Piccadilly Lines)
Nearby Occupiers Include Starbucks, Costa Coffee, Foxtons and KFH Estate Agent
In the same Family ownership since 1934
VAT Free Investment

Lot
7
Auction
30th March 2023
Rent
£67,500 per Annum Exclusive
Status
Sold
Price
£1,706,000
Auction Venue
Live Streamed Auction

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Freehold Restaurant and Residential Investment

Attractive 5 Storey Terraced Building Comprising Restaurant and 4 bed Duplex
Entirely let to an Italian Restaurant t/a La Pappardella
Refurbishment Potential (subject to consents)
Highly Affluent and Popular London Location
Prominently Situated on Old Brompton Road (A3218)
200 metres south of Earls Court Station (District, Piccadilly Lines)
Nearby Occupiers Include Starbucks, Costa Coffee, Foxtons and KFH Estate Agent
In the same Family ownership since 1934
VAT Free Investment

Lot 7
Auction 30th March 2023
Rent £67,500 per Annum Exclusive
Status Sold
Price £1,706,000
Sector
High Street Retail, Residential
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 220 yards south of Earls Court, 0.8 miles south west of Hyde Park, 2 miles south west of Mayfair, 3 miles east of Central London
Roads: A3220, A308, A4
Rail: Earls Court Underground Station (District, Piccadilly Lines) West Brompton Overground Station, South Kensington Underground Station (Circle, District, Piccadilly Lines)
Air: London Heathrow Airport, London Gatwick Airport, London City Airport

Situation

The property is located in the highly affluent Royal Borough of Kensington and Chelsea on the south side of the busy and popular Old Brompton Road (A3218). The area benefits from a high footfall of shoppers and tourists, with Earls Court, West Brompton and South Kensington Station's all within close proximity of the property. Neighbouring occupiers include Starbucks, Costa Coffee, Foxtons, KFH Estate Agent and a mix of high end restaurants, bars and cafes.

Tenure

Freehold.

Location

Miles: 220 yards south of Earls Court, 0.8 miles south west of Hyde Park, 2 miles south west of Mayfair, 3 miles east of Central London
Roads: A3220, A308, A4
Rail: Earls Court Underground Station (District, Piccadilly Lines) West Brompton Overground Station, South Kensington Underground Station (Circle, District, Piccadilly Lines)
Air: London Heathrow Airport, London Gatwick Airport, London City Airport

Situation

Tenure

Freehold.

Description

The property, an attractive 5 storey terraced building, comprises restaurant and ancillary accommodation over ground, lower ground and first floors with the second and third floor providing residential staff accommodation. There is outside seating at the front of the restaurant together with a covered patio area to the rear providing additional covers. The property may be suitable for refurbishment and reconfiguration subject to the necessary consents.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

Band B.

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

Band B.

Tenancy & Accommodation

Floor	Use	Approximate Net Internal Area sq m	Approximate Net Internal Area sq ft	Tenant	Term	Rent p.a.x.
Ground Lower Ground First Second Third	Restaurant Restaurant/Ancillary Ancillary Residential Residential	50.12 47.23 43.43 49.94 47.42	(539) (508) (467) (538) (509)	LA PAPPARDELLA LIMITED (CRN 03693590) t/a La Pappardella (1)	15 years from 25/12/2009	£67,500
Total Approximate Floor Area		238.14	(2,561) (2)			£67,500

(1) La Pappardella is a well established Italian restaurant and pizzeria established in 1985 (www.la-pappardella.com).
(2) The commercial floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.