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
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.
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
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.
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.
