Freehold Shop Investment For Sale, Ladbroke Grove, London W10
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.
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.
