Class E Shop To Let, West Kensington, W14
Ground floor, 1 Russell Gardens, West Kensington, London W14
Situation & Location
The property is prominently situated on a corner site at the junction of busy Holland Road and Russell Gardens, close to Holland Park, and Olympia Station (overground), as well as the new Olympia complex development.
Description & Accommodation
The property comprises a ground floor retail unit providing the following approximate floor areas:-
| Internal Width: 20’ 6.1m narrows to 12’5” /3.8 m after 16’6”/ 3.28 m. | ||
| Shop Depth | 31’ 8” | 9.65 m |
| Ground floor sales | 539 sq ft | 50 sq m |
| Ground floor office/store | 187 sq ft | 17.4 sq m |
Rent
£25,000 per annum exclusive, payable quarterly in advance, subject to five yearly upward only reviews.
Lease
A new lease is for a term of 10 years, to be taken inside the Landlord & Tenant Act 1954.
Common Expenses
Tenant to bear a fair proportion of the cost of maintaining and insuring structure.
Legal Costs
Each party to bear their own.
EPC
In preparation.
Business Rates
The rateable value for the premises is £16,750, rising to £18,750 from April 2023; rates payable for year commencing April 23 would be £9,356 or £2,339 for qualifying businesses enjoying 75% retail relief. Interested parties should make their own enquiries and confirm: - Royal Borough of Kensington and Chelsea business rates department 0207-361 2828.
VAT
Will not apply.
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.
