Prominent Shop & Basement for Sale or to Let, Notting Hill, W2
Arranged as beauty spa but suitable for other uses
1 Courtnell Street, Notting Hill, London W2
Situation & Location
The property is situated at the junction of Courtnell Street and Artesian Road, close to Ledbury Road and Westbourne Grove. It thus lies close to Notting Hill’s most fashionable retail and leisure district but set in an affordable neighbourhood location. Nearby businesses include the Matches Fashion and Ottolenghi.
Description & Accommodation
The property comprises a self-contained ground floor and basement retail unit providing the following approximate floor areas:-
| Ground floor sales | 355 sq ft | 33 sq m |
| Ground floor kitchen | 46 sq ft | 4.4 sq m |
| Basement sales (arranged as three treatment rooms) | 419 sq ft | 39 sq m |
| Basement storage | 25 sq ft | 2.3 sq m |
Amenities
Kitchen | Shower | WC
Rent
£28,500 per annum exclusive, payable quarterly in advance, subject to five yearly upward only review.
Price
For a 999 year lease from 07.04 at a peppercorn ground rent: £500,000.
Lease
A new lease for a term to be agreed.
Common Expenses
Tenant will bear a fair proportion of the cost of maintaining and insuring building structure.
Legal Costs
Each party to bear their own.
Business Rates
The rateable value for the premises is £35,321 and the rates payable for the current year ending 31/03/21 would normally have been £9,000 after 50% retail relief, however the property currently benefits from 100% covid retail relief so no business rates to pay until April 2021. Interested parties should make their own enquiries and confirm: - City of Westminster 020 8315 2050.
VAT
The property is not currently VAT opted.
EPC
In preparation.
Possession
Immediate upon completion of legal formalities.
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.
