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Freehold Shop Investment For Sale, Ladbroke Grove, London W10

147 Ladbroke Grove, London W10

>Freehold Shop Investment For Sale, 147 Ladbroke Grove, London W10

Situation & Location

The property is situated on the the western side of Ladbroke Grove immediately to the south of the Ladbroke Grove Underground Station. This busy local shopping street serves the resident population as well as tourist traffic to nearby Portobello Road. Operators in immediate proximity include Pret, Café Nero, Camden Coffee Co, Sainsburys Local, and Tesco Metro. The adjacent shop, formerly Corals, has recently been opened as Over Under Coffee - www.overundercoffee.com.

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Description & Accommodation

The property comprises a self-contained shop and basement, with upper parts sold on a separate long lease, having the following floor areas:-

Ground floor sales 583 sq ft 54.2 sq m 359 ITZA
Basement 522 sq ft 48.5 sq m
Vaults 203 sq ft 18.9 sq m

Total ITZA taking basement @ A/10 and vaults A/20 = 421 units.

Tenure

Freehold.

Tenancy

The shop and basement is let on effectively full repairing and insuring terms to Mr S Khan, trading as PC Garage, for a 20 year term expiring 27.04.24. A rent deposit is held.

Rent

Shop rent £38,000 pa plus ground rent of £250 from upper parts: total £38,250 pa.

Rent Review

There is an outstanding rent review effective 27.04.19.

ERV

Our ERV based on most recent rental evidence is £42,000 per annum.

Price

Guide price of £625,000 to reflect an initial yield of 5.88% after deducting standard purchase costs.

Upper Parts Lease

125 years from 1990.

Legal Costs

Each party to bear their own.

EPC

In preparation.

VAT

The property is not VAT opted.

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.

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JMW Barnard LLP registered office: North Lodge, Brockham Green, Betchworth, Surrey, RH3 7JS - Registered in England Number: OC314826
JMW Barnard Management Ltd registered office: 2 Jardine House, Bessborough Rd, Harrow, Middlesex, HA1 3EX - Registered in England & Wales Number: 04407956