Prime Bar/Restaurant to Let, Portobello Road, W11
186 Portobello Road, London, W11
New 20-year lease available | Stunning corner location | 5,970 sq ft over four floors presented partially fitted | 1:00am premises licence | Rare opportunity to secure a landmark building in Notting Hill | Diagonally opposite Electric Cinema
Location
The property occupies one of the most important corner sites on Portobello Road, at the junction with Talbot Road. The Electric Diner / Cinema and E&O are in close proximity.
Portobello Market is one of the busiest tourist attractions within Greater London. In addition to the daily influx of tourists the area is of course associated with the bohemian high net worth individuals who reside locally.
Notting Hill retains a unique village-like atmosphere rivalled by few other areas in London. It remains an important bar and dining destination whose expansion has been limited by the availability of suitable buildings. In short, this really is an unrivalled opportunity. View location map.
Description
An elegant landmark end of terrace corner building set out over three storeys above basement. It is a mid to late Victorian style property with painted and rendered brick elevations. It currently provides ground, first and second floor trading areas. First floor trading kitchen and ancillary offices at second floor. Customer toilets are at ground and second floor. A large basement cellar with good head height and good opportunity to better utilise this area.
Seating area to the pavement in front held on an annual tables and chairs licence from the Royal Borough of Kensington & Chelsea.
The property is connected to all mains services.
| Ground floor | 159.25 sq m | 1,713 sq ft |
| First floor | 122.10 sq m | 1,313 sq ft |
| Second floor | 124.65 sq m | 1,341 sq ft |
| Basement (Approx 2.3 m head height) | 121.70 sq m | 1,309 sq ft |
| Under pavement vaults (Approx) | 27.1 sq m | 292 sq ft |
| Total | 554.8 sq m | 5,970 sq ft |
Premises Licence
The ground floor of the property benefits from a Premises Licences which permits the sale of alcohol from 10.00am until 00.00am Monday to Saturday, from 11.00am to 00.00am on Saturday, and 12.00pm to 10.30pm on Sunday.
The first and second floor of the property benefits from a Premises Licences which permits the sale of alcohol from 10.00am until 01.00am Monday to Friday, from 11.00am to 11.30pm on Saturday, and 12.00pm to 1.00am on Sunday. The Premises Licence permits late night refreshment until 1.30am on the first and second floor from Monday to Saturday.
Planning
From informal enquiries of the Royal Borough of Kensington & Chelsea it has been ascertained that the property is not listed but does lie within the Ladbroke Conservation Area.
Business Rates
The property is assessed for business rates as a 'Public House and Premises'. The current rateable Value is RV£127,500. Current rates payable will therefore be approximately £65,407.50 for the 2015/16 financial year.
EPC
An EPC for the property is available on request.
Proposal
JMW Barnard Management Limited as Asset Managers have instructed us to seek rental offers in excess of £200,000 per annum plus VAT if applicable for a new full repairing and insuring 20-year leasehold interest for the property as seen subject to rent reviews every 5 years. Premium offers in addition will be considered on their merits. The new lease will be free of all beer ties.
In considering all offers the Asset Manager will be looking for a combination of tenant covenant strength, and how the proposed use will suit and enhance the local area.
Remedial works to the external structure are to commence shortly and will be carried out prior to the handover of the building to the proposed tenant.
Contact
Jeremy Barnard or Alan Bateman
Tel: 020 7938 3990
Fax: 020 7937 3764
Email: jb@jmwbarnard.com
Email: ab@jmwbarnard.com
Important Notice: Measurements are approximate and no responsibility is taken for any error, omission or mis-statement in these particulars which do not constitute an offer or contract. No representation or warranty is given either during negotiations, in particulars, or elsewhere. Unless otherwise stated all rents and prices are exclusive of VAT, where applicable.
