Freehold Class E Retail Investment for Sale, Notting Hill, W11
305 Westbourne Grove, Notting Hill, London W11
Situation & Location
The property is situated close to the junction of Westbourne Grove and Kensington Park Road. Nearby occupiers include Paul Smith, Knight Frank, Notting Hill Fish Shop, La Brasseria, and Sally Clarke Bakery.
Description & Accommodation
The property comprises a self-contained ground floor and basement retail unit trading as a wine shop and wine/cocktail bar, with two self-contained residential flats above. The retail element provides the following floor areas:
| GF Sales | 408 sq ft (ITZA 348) | |
| Basement Sales/Storage | 373 sq ft | |
| Kitchen | 39 sq ft | |
| Vaults | 75 sq ft |
Tenancy
The shop is let to Franklins Wine Ltd for a term of 10 years from 4th November 2020, with a tenant option to break, and upward only rent review, in November 2025, at a current rent of £37,000 per annum rising to £39,000 from November 2022.
The flats above are sold on long leases expiring 2175 and produce a ground rent of £100 per annum.
Thus producing a total of £39,100 per annum.
Guide Price
£675,000 offering a net yield of 5.5% from November, after deducting usual purchase costs.
EPC
EPC rating 70 - Band C - report and recommendations available on request.
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.
