Freehold Retail & Ground Rent Investment, North Kensington, W10
53 St Helens Gardens, North Kensington, London, W10
In affluent neighbourhood parade
Situation & Location
The property is situated on the western side of St Helens Gardens, close to the junction with Kelfield Gardens. It thus forms part of the sought after and affluent St Quintin Estate. Other businesses located nearby include St Helens Cafe & Deli, Violet & George and Mountgrange Heritage. Latimer Road underground (Circle, Hammersmith & City Lines) is close by, as are the major office complex of Notting Hill Village and the Westway Sports Centre. View location map.
Description & Accommodation
The property comprises and end of terrrace retail and residential property with a ground floor and basement shop let on a commercial tenancy, a maisonette to the rear (53b) and a flat at first floor level above (53a): the two residential units are sold on long leases. The shop has the following approximate floor areas and accomodation:-
| Shop Depth | 27.45 ft | 8.37 m |
| Internal Width | 16.3 ft | 4.97 m |
| Ground floor sales: | 412 sq ft | 38 sq m |
| Basement store accessed via hatch (restricted head height): | 322 sq ft | 30 sq m |
| WC at rear of ground floor |
Amenities
Air Conditioning | Use of Forecourt
Tenure
Freehold
Tenancy
The shop is let to Infinity Eyecare Ltd for a term of 10 years, expiring 6th August 2024 on an effectively full repairing and insuring basis at a current rent of £18,000 per annum exclusive, subject to review.
Infinity Eyecare is the successor/legacy business of Shannon & Carton Opticians based in Ladbroke Grove for fifty years until 2014, and thus has an established local clientele.
The two residential apartments are each sold on 150 leases from 2012 at a ground rent of £250 pa each, doubling every twenty five years.
Thus producing a total net income of £18,500 per annum.
Legal Costs
Each party to bear their own.
Energy Performance Certificate
Energy Rating 221 - Band G (copy EPC and recommendations available on request).
VAT
The property is VAT opted.
Guide Price
£350,000 To give a net initial yield of 5.13% after expected costs of purchase.
Contact
Jeremy Barnard
Tel: 020 7938 3990
Fax: 020 7937 3764
Email: jb@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.
