Freehold Retail, Office and Residential Investment
Highly affluent and fashionable West End location
Neighbouring occupiers include McDonald’s, Barclays Bank, Carphone Warehouse,
Sainsbury's, Starbucks and The major Whiteleys Shopping Centre
150 metres from Hyde Park
Opposite Bayswater Underground Station
Active management potential
Lot 18
Auction 23rd May 2013
Rent £104,183 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Dorchester Hotel Park Lane Entrance Mayfair London W1K 1QA
Property Information
Location
Miles
150m from Hyde Park, 1 mile west of Oxford Street, 1 mile east of Notting Hill and Kensington
Roads
A40, Bayswater Road (A402), Edgware Road (A5)
Rail
Bayswater Underground Station (Circle Line, District Line), Queensway Underground Station (Central Line), London Paddington Railway Station
Air
London City Airport, London Heathrow Airport
Situation
The highly affluent and fashionable West End suburb of Bayswater is one of Central London's most prestigious and desirable retail, office and residential locations. The property is situated in a prominent corner location on the east side of Queensway at its junction with Inverness Place. The property occupies a prime position opposite Bayswater Underground Station. Neighbouring occupiers include McDonald’s, Barclays Bank, Carphone Warehouse, Sainsbury's, Starbucks and The major Whiteleys Shopping Centre.
Tenure
Freehold.
Location
Miles
150m from Hyde Park, 1 mile west of Oxford Street, 1 mile east of Notting Hill and Kensington
Roads
A40, Bayswater Road (A402), Edgware Road (A5)
Rail
Bayswater Underground Station (Circle Line, District Line), Queensway Underground Station (Central Line), London Paddington Railway Station
Air
London City Airport, London Heathrow Airport
Situation
The highly affluent and fashionable West End suburb of Bayswater is one of Central London's most prestigious and desirable retail, office and residential locations. The property is situated in a prominent corner location on the east side of Queensway at its junction with Inverness Place. The property occupies a prime position opposite Bayswater Underground Station. Neighbouring occupiers include McDonald’s, Barclays Bank, Carphone Warehouse, Sainsbury's, Starbucks and The major Whiteleys Shopping Centre.
Tenure
Freehold.
Description
The property comprises an attractive end of terrace period building comprising 2 retail units on the ground floor with ancillary accommodation in the basement. The first to fourth floors consist of residential flats with offices on the first and second floor mezzanine levels. The offices and flats are accessed separately via Inverness Place.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an attractive end of terrace period building comprising 2 retail units on the ground floor with ancillary accommodation in the basement. The first to fourth floors consist of residential flats with offices on the first and second floor mezzanine levels. The offices and flats are accessed separately via Inverness Place.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/(Reversion)
58 Queensway
Basement Ground
Ancillary Retail
86.77 sq m 45.20 sq m
(934 sq ft) (487 sq ft)
MR LIN JUN WEN t/a San Ling Medical Centre
20 years from 01/02/2012 until 2032
£54,500
01/02/2017
58a Queensway
Ground
Retail
19.88 sq m
(214 sq ft)
INSTYLE (LONDON) LIMITED t/a London Mobile Gadgets
10 years from 28/11/2003
£37,500
(27/11/2013)
7 Inverness Place 1 (Lower)
First
Office
11.71 sq m
(126 sq ft)
MR MOHAMEDFAOUD CHEDDOUD
6 months from 10/12/2012
£4,766.70 (1)
(09/06/2013)
7 Inverness Place
Second
Office
12.17 sq m
(131 sq ft)
S PAVITHRAN
1 year from 25/07/2012
£5,416.70 (1)
(24/07/2012)
7 Inverness Place - Flat 1
Residential
INDIVIDUAL (2)
150 years from 1st January 2003 until 2152
£500
7 Inverness Place - Flat 3
Residential
INDIVIDUAL (2)
150 years from 1st January 2003 until 2152
£500
7 Inverness Place - Flat 4
Residential
INDIVIDUAL (2)
150 years from 1st January 2003 until 2152
£500
7 Inverness Place - Flat 5
Residential
INDIVIDUAL (2)
150 years from 1st January 2003 until 2152
£500
Total Commercial Floor Area
175.73 sq m
(1,892 sq ft)
£104,183.40
(1) As to the first and second floor offices, the rents shown above are inclusive of business rates. (2) The seller has served notices on the residential tenants under Section 5 of the Landlord and Tenant Act 1987.
