Neighbouring occupiers include Sandro, Zadig & Voltaire, Jigsaw, The Kooples, Druces, Winkworth and Savills.
Lot 16
Auction 25th September 2024
Rent £119,500 per Annum Exclusive
Status Available
Guide* £2,300,000 - £2,400,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
0.6 miles north of Kensington Gardens
1.8 miles west of London’s West End
1 mile west of Paddington Station
Roads
Edgware Road (A5), Oxford Street (A40), Bayswater Road (A402)
Rail
Paddington National Rail Station, Notting Hill Gate Underground Station (Central line), Paddington Underground (Elizabeth /Cross Rail Line , Bakerloo, Jubilee, Hammersmith & City, Circle and District)
Air
London City Airport, Heathrow Airport
Situation
Ledbury Road is situated in the heart of Notting Hill, a highly attractive, fashionable and affluent West London suburb within the Royal Borough of Kensington & Chelsea, located 1.8 miles west of Marble Arch and Oxford Street, London’s premier retail location. The property is situated on the east side of Ledbury Road, close to the busy junction with Westbourne Grove. Portobello Road with it's infamous historic Antique Market is some 300 metres west of the property. The immediate vicinity with its pleasant village atmosphere attracts and eclectic mix of restaurants, antique shops and boutiques including Sandro, Zadig & Voltaire, Jigsaw and The Kooples. Other neighbouring occupiers include Druces, Winkworth and Savills estate Agents.
Tenure
Freehold.
Location
Miles
0.6 miles north of Kensington Gardens
1.8 miles west of London’s West End
1 mile west of Paddington Station
Roads
Edgware Road (A5), Oxford Street (A40), Bayswater Road (A402)
Rail
Paddington National Rail Station, Notting Hill Gate Underground Station (Central line), Paddington Underground (Elizabeth /Cross Rail Line , Bakerloo, Jubilee, Hammersmith & City, Circle and District)
Air
London City Airport, Heathrow Airport
Situation
Ledbury Road is situated in the heart of Notting Hill, a highly attractive, fashionable and affluent West London suburb within the Royal Borough of Kensington & Chelsea, located 1.8 miles west of Marble Arch and Oxford Street, London’s premier retail location. The property is situated on the east side of Ledbury Road, close to the busy junction with Westbourne Grove. Portobello Road with it's infamous historic Antique Market is some 300 metres west of the property. The immediate vicinity with its pleasant village atmosphere attracts and eclectic mix of restaurants, antique shops and boutiques including Sandro, Zadig & Voltaire, Jigsaw and The Kooples. Other neighbouring occupiers include Druces, Winkworth and Savills estate Agents.
Tenure
Freehold.
Description
The property is an attractive mixed use period building comprising ground floor retail accommodation with ancillary accommodation in the basement and a self contained maisonette on the upper floors, but excluding the roof space. The maisonette has been let on a long leasehold interest.
Other properties on the same side of the road have benefitted from a mansard roof extension, and subject to planning consents, there is therefore no obvious reason why this property should not succeed in a planning application for a mansard roof extension, should the owner of upper maisonette wish to acquire the roof rights out of the current freehold.
VAT
VAT is not applicable to this lot.
Planning
The property does not appear as Listed on the Historic England website, but is within the Pembridge Conservation Area.
Numbers 32,34,36,44 and 46 on the same side of the road have all benefitted from a mansard roof extension, and subject to planning consents, this property may also benefit from a mansard roof extension, should the owner of upper maisonette wish to acquire the roof rights out of the current freehold.
Completion Period
6 Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property is an attractive mixed use period building comprising ground floor retail accommodation with ancillary accommodation in the basement and a self contained maisonette on the upper floors, but excluding the roof space. The maisonette has been let on a long leasehold interest.
Other properties on the same side of the road have benefitted from a mansard roof extension, and subject to planning consents, there is therefore no obvious reason why this property should not succeed in a planning application for a mansard roof extension, should the owner of upper maisonette wish to acquire the roof rights out of the current freehold.
VAT
VAT is not applicable to this lot.
Planning
The property does not appear as Listed on the Historic England website, but is within the Pembridge Conservation Area.
Numbers 32,34,36,44 and 46 on the same side of the road have all benefitted from a mansard roof extension, and subject to planning consents, this property may also benefit from a mansard roof extension, should the owner of upper maisonette wish to acquire the roof rights out of the current freehold.
Completion Period
6 Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Reversion
Basement Ground
Retail Ancillary
81.21 59.40
(639) (874)
Sweaty Betty Limited (crn 03525806) (2)
10 years from 10th April 2017 (3)
£119,500
09/04/2027
First and Second
Maisonette
-
(-)
Individual
153 years from 23rd May 2012
-
24/06/2165
Total Approximate Commercial Floor Area
140.61
1,513
£119,500
(1) The above floor areas stated above are those published by the Valuation Office Agency (https://www.tax.service.gov.uk/business-rates-find/valuations/start/7623834000) (2) Sweaty Betty Limited (crn 03525806) were incorporated in March 1998 and currently operate 19 retail outs in London and a further 44 nationwide as well as 66 retail outlets internationally. For more information see www.sweatybetty.com . For the period ending 1st January 2023 Sweaty Betty Limited (crn 03525806) reported a Turnover of £167,725,485., Gross Profits of £66,060,764. and Shareholder's Funds of £28.917.532.. (Source: Report and Financial Statements as Published at Companies House 03/09/24) (3) Tenant did not activate their 09/04/2022 break option
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.
