Busy town centre location in affluent West London suburb
Let to Essensuals Holdings Ltd until 2020 (subject to option) guaranteed by Mascolo Group Limited (1) (part of Toni and Guy International Ltd)
Neighbouring occupiers include Pizza Express, Nando’s, Santander and Bang & Olufsen in the same ownership for over 56 years
Six Week Completion available
Lot 1
Auction 14th February 2013
Rent £32,650 per Annum Exclusive
Status Sold
Price £386,000
Sector High Street Retail
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
On Behalf of Executors
Property Information
Location
Miles
5 miles north of Richmond, 8 miles west of Central London
Roads
A40, A406 (North Circular Road), A4020, M4, M40,
Rail
Ealing Broadway Station (District and Central Lines and London Overground)
Air
London Heathrow, London Gatwick
Situation
The property is prominently positioned on the west side of Bond Street, close to the junction with New Broadway. Bond Street forms part of Ealing one-way system and benefits from high passing traffic and pedestrian footfall. Neighbouring occupiers include Pizza Express, Santander, Nando’s and Bang & Olufsen. Ealing Broadway is some 450m from the property.
Tenure
Freehold.
Location
Miles
5 miles north of Richmond, 8 miles west of Central London
Roads
A40, A406 (North Circular Road), A4020, M4, M40,
Rail
Ealing Broadway Station (District and Central Lines and London Overground)
Air
London Heathrow, London Gatwick
Situation
The property is prominently positioned on the west side of Bond Street, close to the junction with New Broadway. Bond Street forms part of Ealing one-way system and benefits from high passing traffic and pedestrian footfall. Neighbouring occupiers include Pizza Express, Santander, Nando’s and Bang & Olufsen. Ealing Broadway is some 450m from the property.
Tenure
Freehold.
Description
The property comprises ground floor retail accommodation with basement ancillary accommodation. The upper floors comprise a single residential maisonette which is accessed from the rear.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground floor retail accommodation with basement ancillary accommodation. The upper floors comprise a single residential maisonette which is accessed from the rear.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground Basement
Retail Ancillary
70.55 sq m 29.80 sq m
(759 sq ft) (321 sq ft)
ESSENSUALS HOLDINGS LIMITED (guaranteed by MASCOLO GROUP LIMITED) (1) (2)
10 years from 05/07/2010 (3)
£32,500
05/07/2015
First, Second, Third
Residential
Not Measured
INDIVIDUAL
99 years from 29/09/2000
£150
2033 and 33 yearly
Commercial Floor Areas
100.35 sq m
(1,080 sq ft)
£32,650
(1) The lease is guaranteed by Mascolo Group Limited until either the tenants pre-tax profits exceed 3 times the rent, assignment by the tenant or 5th July 2015 whichever is the sooner. For the year ending 31/08/2011 Mascolo Group Limited reported a turnover of £8,062,407, a pre tax profit of £534,322 and a total net worth of £8,314,156. (Source www.riskdisk.com 11/12/2012) Toni and Guy International Limited are the Ultimate Holding Company of Mascolo Group Limited and Essensuals Holdings Limited. (Source www.riskdisk.com) (2)Essensuals Holdings Limited trade from 34 salons in the UK as well as 28 salons internationally. As to the ground floor, the property has been sublet to a franchisee. (Source: www.essensuals.com 07/01/2013) (3)The lease provides for a tenant option to determine the lease on 5th July 2015.
