Freehold Shop and Maisonette For Sale, Notting Hill, W11
9 Elgin Crescent, Notting Hill, London W11
Situation & Location
The property is situated on the southern side of Elgin Crescent, in the heart of Notting Hill between the junctions with Portobello Road and Kensington Park Road. Other retailers located in this section include Jeroboams, OKA, Grocer on Elgin, Natoora, Graham & Green and Miznon. Elgin Crescent is lies at the heart of Notting Hill, adjacent to Portobello Market. Notting Hill Gate (Central, Circle, District Lines) and Ladbroke Grove (Circle, Hammersmith & City Lines) underground stations are within easy walking distance.
Description & Accommodation
The property comprises a self-contained ground floor and basement retail unit with a self-contained first and second floor, two bedroomed, maisonette above.
The shop has a ground floor net sales area of 384 sq ft 35.7 sq m and a basement sales area of 390 sq ft 36.2 sq m. Externally there is a rear yard at basement level. The upper maisonette has a gross internal floor area of 1,032 sq ft 95.9 sq m, is unmodernised and comprises a first floor living room and kitchen, with two bedrooms and a bathroom above.
Tenure
Freehold.
Tenancy
The shop and basement is let on effectively full repairing and insuring terms to Neals Yard (Natural Remedies) Ltd for a term of 10 years from 28th September 2019, with a tenant option to break, and an upward only, open market rent review, both effective 28th September 2024. The current rent is £45,550 per annum. The lease is taken within the Landlord & Tenant Act 1954. The permitted use under the lease is limited to the former Class A1, meaning that restaurant or hot food takeaway would not be permitted. Neals Yard Remedies is a forty year established, international health and beauty brand. The tenant company showed a turnover of £39 million in its most recent published accounts www.nealsyardremedies.com. The upper maisonette is offered with vacant possession.
Price
£2,500,000 Freehold.
EPC
For both parts, EPC Band D EPC 1 | EPC 2
Business Rates
The shop has a rateable value of £34,000.
VAT
VAT will not apply.
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.
