Freehold Retail Investment, Kensington, W8
36 Earls Court Road, Kensington, London W8
Situation & Location
The property is situated on the western side of Earls Court Road just to the south of Kensington High Street. It is therefore close to the Design Museum and Holland Park. The substantial mixed-use Holland Park Gate development of the former Odeon Cinema is under construction just to the north. Other occupiers in the block include Trailfinders, Café Le Monde and Cyclecare Kensington.
Description & Accommodation
The property comprises a self-contained ground and basement floor retail unit, with mixed-use upper parts sold on a 999 year lease at a peppercorn. The retail unit provides the following approximate floor areas:-
| Ground floor sales (Zone A 272, Zone B 121, Rear Sales 455) | 848 sq ft | 78.8 sq m |
| Basement ancillary | 395 sq ft | 36.7sq m |
| Basement vault | 72 sq ft | 6.7 sq m |
Tenure
Freehold.
Tenancy
Shop & Basement let to Specs of Kensington Ltd (with guarantor) on effectively full repairing and insuring terms, expiring 24th September 2024.
Rent
£32,000 per annum.
Tenant Profile
Specs of Kensington is a long established (1984) optometrist practice. Following a business transfer in recent years there is a guarantor in place. www.specsofkensington.co.uk.
Price
£525,000 to reflect a yield of 5.86% after deducting normal purchase costs.
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.
