Two Adjoining Shops with Upper Parts & Rear Garden for Sale, Notting Hill Gate, W11
Freehold investment with development potential
38-40 Notting Hill Gate, Notting Hill Gate, London W11
Situation & Location
The property is situated on the northern side of Notting Hill Gate, at the junction with Linden Gardens, thus lying close to Notting Hill Gate underground (Central, Circle, District Lines) and Kensington Gardens. The new www.nottinghillplace.com development is diagonally opposite and is set to transform the location. Other retailers represented in the block include Amazon Fresh, Corals, Nando’s and Snappy Snaps.
Description & Accommodation
The property comprises two adjoining buildings arranged as three retail units, of which two have extensive upper parts in ancillary use. The net useable floor areas are as follows:-
38 Notting Hill Gate
| Ground Floor Sales | 462 sq ft | 42.9 sq m |
| Basement Sales | 456 sq ft | 43.2 sq m |
| Basement Mezz Stores | 112 sq ft | 10.4 sq m |
| Ground Floor Mezz Office & Staff | 117 sq ft | 10.9 sq m |
| First Floor Sales | 341 sq ft | 31.7 sq m |
40a Notting Hill Gate
| Ground Floor Sales | 251 sq ft | 23.3 sq m |
| Lower ground floor sales / storage | 296 sq ft | 27.5 sq m |
| Basement storage (restricted head height) | 277 sq ft | 25.7 sq m |
| Mezzanine storage | 23 sq ft | 2.1 sq m |
| First floor storage (reached via narrow staircase) | 300 sq ft | 27.9 sq m |
40b Notting Hill Gate
| Ground Floor Sales | 331 sq ft | 30.8 sq m |
Existing Total Gross Internal Areas:
| Lower Ground Floor | 1,827 sq ft | 169.8 sq m |
| Ground Floor | 1,370 sq ft | 127.3 sq m |
| First Floor | 796 sq ft | 74.0 sq m |
| Total Existing Class E Use | 3,993 sq ft | 371.1 sq m |
Planning
Planning consent was granted in 2019 for a redevelopment to reconfigure the retail space, and create a rear extension, to provide some 1,400 sq ft of retail over two levels, and five apartments – two one bedroom, and three two bedrooms. This consent has since lapsed. Full details may be found here.Copy of planning consent, schedule of existing and proposed areas and existing and proposed floorplans are here.
Tenancies
38 Notting Hill Gate is let to the May Property Co Ltd t/a Music & Video Exchange, for a term of five years from 5th March 2025, outside the Landlord & Tenant Act 1954 on FR&I terms, with a mutual break option at the end of the third year, at a rent of £60,000 p.a.x.
40a Notting Hill Gate is let to FT Enterprises Ltd t/a iCrack, on IR&I terms until 13 Dec 2026, outside the Landlord & Tenant Act 1954 at a rent of £32,500 p.a.x.
40b Notting Hill Gate is let to Validway Ltd t/a Notting Hill Kebab, holding over under an FR&I lease, inside the Landlord & Tenant Act 1954, at a rent of £30,000 p.a.x.
Thus producing a total current rent of £122,500 per annum.
Guide Price
One Million, Nine Hundred and Thirty Thousand Pounds (£1,930,000) to afford a purchaser initial yield of 6% after usual costs of purchase, with the benefit of considerable future development potential.
Legal Costs
Each party to bear their own.
EPC
EPC rating Band D (40a); Band C (40b & 38).
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.
