Freehold Retail and Residential Parade Investment and Residential Development Opportunity
Three attractive retail units and three maisonettes
Tenants include Vision Express and The Sushi Co
Vison Express occupy 2 units let on a single new 10 year lease until July 2034 (no breaks)
Terms agreed with The Sushi Co for a new 10 year lease
Vacant 2 bed maisonette offering over 1,100 sq. ft. (in need of refurbishment)
Development potential of the land and buildings to the rear (subject to consents)
Positive Pre-app received for 6 additional flats to the rear
Affluent and busy West London location
Nearby occupiers include Waitrose, Pret A Manger, Boots, Gails, Chipotle, Pizza Express, Ole & Steen and Tesco
Lot 9
Auction 15th May 2025
Rent £157,000 per Annum Exclusive Plus Vacant Flat, Rear Storage Building & Land
Status Available
Guide* £2,500,000
Sector High Street Retail, Residential, Development
Auction Venue Live Streamed Auction
On Behalf of a Major Fund
Property Information
Location
Miles
1.5 miles west of Hammersmith, 6 miles west of Central London
Roads
M4, A4, A406
Rail
Chiswick Park (Circle, District), Turnham Green (Circle, District, Piccadilly)
Air
London Heathrow Airport
Situation
Chiswick is an attractive and affluent West London suburb some 6 miles west of Central London, in-between Hammersmith and Gunnersbury. The property is prominently positioned on Chiswick High Road, 50 metres from Turnham Green. Nearby occupiers include Waitrose, Pret A Manger, Boots, Gails, Chipotle, Pizza Express, Ole & Steen and Tesco
Tenure
Freehold.
Location
Miles
1.5 miles west of Hammersmith, 6 miles west of Central London
Roads
M4, A4, A406
Rail
Chiswick Park (Circle, District), Turnham Green (Circle, District, Piccadilly)
Air
London Heathrow Airport
Situation
Chiswick is an attractive and affluent West London suburb some 6 miles west of Central London, in-between Hammersmith and Gunnersbury. The property is prominently positioned on Chiswick High Road, 50 metres from Turnham Green. Nearby occupiers include Waitrose, Pret A Manger, Boots, Gails, Chipotle, Pizza Express, Ole & Steen and Tesco
Tenure
Freehold.
Description
The property comprises three adjoining ground floor shops together with three maisonettes on the upper floors. One flat is currently vacant and in need of refurbishment, whilst two flats have been sold off on long leases.
Vision Express have recently expanded into 324 Chiswick High Road after occupying 322 Chiswick High Road for 25 years.
The property also includes a single storey self contained storage building and service area to the rear which may be suitable for development subject to obtaining the necessary consents. The Vendor submitted a pre-application for the construction of 8 flats and upon feedback from the council 03/03/2022, a three storey, 6 flat scheme was deemed feasible. Details and plans are available within the legal pack.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises three adjoining ground floor shops together with three maisonettes on the upper floors. One flat is currently vacant and in need of refurbishment, whilst two flats have been sold off on long leases.
Vision Express have recently expanded into 324 Chiswick High Road after occupying 322 Chiswick High Road for 25 years.
The property also includes a single storey self contained storage building and service area to the rear which may be suitable for development subject to obtaining the necessary consents. The Vendor submitted a pre-application for the construction of 8 flats and upon feedback from the council 03/03/2022, a three storey, 6 flat scheme was deemed feasible. Details and plans are available within the legal pack.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Address
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
320 Chiswick High Road
Ground
Retail
34.80
(375)
THE SUSHI CO LTD (1)
10 years from 29/07/2014 (Holding Over) (2)
£42,000
-
320 Chiswick High Road
Basement
Ancillary
Not Measured
Not Measured
VACANT & UNUSED
-
-
-
322-324 Chiswick High Road
Ground Basement
Retail Treatment Rooms
177.10 125.70
(1,906) (1,352)
VISION EXPRESS (UK) LIMITED (3)
10 years from 24/10/2024 (4)
£115,000
24/10/2029
320A Chiswick High Road
First/Second
Residential
-
-
INDIVIDUAL
125 years from 31/03/2010
£0
-
322A Chiswick High Road
First/Second
Residential
104.98
(1,130)
VACANT
-
-
-
324A Chiswick High Road
First/Second
Residential
-
-
INDIVIDUAL
130 years from 17/03/2011
£0
-
Rear Storage Building
Ground
Storage
57.40
(618)
VACANT
-
-
-
Rear Yard
-
-
-
-
VACANT
-
-
-
Total Approximate Floor Area
499.98
(5,381) (5)
£157,000
(1) The Sushi Co currently operate from 20 stores across London and the South East with 6 more due to open soon (www.thesushico.co.uk). (2)Terms have been agreed for a new 10 year lease. Please see the legal pack for further details. (3) For the year ending 31/12/2023 Vision Express (UK) Ltd reported a Turnover of £384,567,000, a Pre-Tax Profit of £7,920,000 and a Net Worth of £15,337,000 (NorthRow 15/04/2025). Vision Express is a British eyecare company currently operating from over 550 stores across the UK and Ireland (www.visionexpress.com). (4) The lease provides for a rent free period until 24/10/2025 (with a further rent free period equivalent to the capital contributions for the Tenants recent works - please see the lease). The Seller will 'top-up' the rent from completion of the sale until the end of the rent free period. (5) The floor areas stated above have been supplied by the Sellers from a recent referencing report, a copy of which will be available within the legal pack.
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.
