295 New Kings Road Parsons Green London SW6 4RE

295 New Kings Road
Parsons Green
London
SW6 4RE

Freehold Restaurant and Residential Investment

Attractive 5 Storey Terraced Building Comprising Restaurant and 6 bed Maisonette
Entirely let to an Italian Restaurant t/a Nuovi Sapori
Refurbishment Potential (subject to consents)
Low Capital Value on guide price (£471 psf.)
Highly Affluent and Popular London Location
Prominently Situated on New Kings Road (A308)
450 metres south of Parsons Green Station (District Line)
Nearby Occupiers include Co-Op, Fara, John D Wood and a large number of high end local retailers
VAT Free Investment

Lot
7
Auction
18th May 2023
Rent
£74,000 per Annum Exclusive
Status
Sold
Price
£1,566,000
Auction Venue
Live Streamed Auction

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Freehold Restaurant and Residential Investment

Attractive 5 Storey Terraced Building Comprising Restaurant and 6 bed Maisonette
Entirely let to an Italian Restaurant t/a Nuovi Sapori
Refurbishment Potential (subject to consents)
Low Capital Value on guide price (£471 psf.)
Highly Affluent and Popular London Location
Prominently Situated on New Kings Road (A308)
450 metres south of Parsons Green Station (District Line)
Nearby Occupiers include Co-Op, Fara, John D Wood and a large number of high end local retailers
VAT Free Investment

Lot 7
Auction 18th May 2023
Rent £74,000 per Annum Exclusive
Status Sold
Price £1,566,000
Sector
High Street Retail, Residential
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 5 miles south-west of Central London, 0.2 miles west of Parsons Green
Roads: A3, A4, A205 (South Circular Road)
Rail: Parsons Green Underground Station and Putney Bridge Underground Station (District Line)
Air: London Heathrow Airport, London City Airport, London Gatwick Airport

Situation

The property is situated in the affluent South-West London district of Parsons Green some 5 miles south-west of Central London. The property is prominently located on the south side of New Kings Road (A308) opposite its junction with Eddiscombe Road and is some 300 metres from Hurlingham Park and 450 metres from Parsons Green Underground Station. Nearby occupiers include Co-Op, Fara, John D Wood and a large number of high end local retailers.

Tenure

Freehold.

Location

Miles: 5 miles south-west of Central London, 0.2 miles west of Parsons Green
Roads: A3, A4, A205 (South Circular Road)
Rail: Parsons Green Underground Station and Putney Bridge Underground Station (District Line)
Air: London Heathrow Airport, London City Airport, London Gatwick Airport

Situation

Tenure

Freehold.

Description

The property, an attractive 5 storey terraced building, comprises restaurant and ancillary accommodation over ground and basement with the first, second and third floor providing self-contained residential accommodation. Access to the residential uppers is from New Kings Road and provides a 6 bedroom maisonette. 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 available

EPC

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

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion available

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (GIA)	Floor Areas Approx sq ft (GIA)	Tenant	Term	Rent p.a.x.	Rent Review / (Reversion)
Ground Basement First Second Third	Restaurant Restaurant/Ancillary Residential Residential Residential	73.90 54.60 57.00 53.40 35.30	(796) (588) (631) (575) (380)	INDIVIDUALS t/a Nuovi Sapori (1)	12 years from 22/07/2014 until 21/07/2026	£74,000 (2)	22/07/2023 and annually thereafter (21/07/2026)
Total		274.20	(2,970)			£74,000 (2)

(1) Nuovi Sapori is a well established Italian restaurant within Parsons Green and was established in 2003 (www.nuovisaporilondon.co.uk/about-us/).
(2) Under the terms of the lease, the rent currently reserved is £70,000 per annum exclusive. The rent will increase to £74,000 p.a.x from 22/07/2025. The Seller will pay to the Buyer the difference between the current rent reserved from completion of the sale until 21/07/2025, therefore the property will effectively produce £74,000 p.a.x. from completion of the sale.

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.