Freehold Licensed Café Investment For Sale, Notting Hill, W11
Prominent Corner Site with outside seating
252 Portobello Road, Notting Hill, London W11
Situation & Location
The property is situated on the eastern side of Portobello Road, close the junction with Lancaster Road and benefits from high tourist and local footfall. Other retailers located in the immediate proximity include Jovonna, Pepper Tree Vintage as well as Portobello institutions Garcia’s Deli, and The Grain Shop (Portobello Health Foods). It thus enjoys heavy tourist and local footfall associated with this world-famous location.
Description & Accommodation
The property comprises a self-contained ground floor and basement licensed café occupying a prominent corner site with external seating on Tavistock Square (extended during the summer months) via council pavement licence. There is an upper maisonette which is to be disposed of on a 999 year lease (available separately – details on request).
The commercial unit provides the following accommodation:
| Ground Floor Sales | ||
| Front sales area | 403 sq ft | |
| Rear sales area | 232 sq ft | |
| Total | 635 sq ft | |
| Basement Ancillary | ||
| Staffroom | 229 sq ft | |
| Office | 198 sq ft | |
| Total | 427 sq ft | |
| Total | 1,061 sq ft | 98.6 sq m |
This represents some 463 units Zone A on our analysis.
Tenancy
The shop is let for a term of 10 years from 29 Aug 2024, on an effectively full repairing and insuring basis at an initial rent of £55,000 pa subject to upward only review in Aug 2029.
The tenant is Greenmountain 1990 Ltd t/a “What a Weekend” with a guarantee from Mr H Copuroglu and a six-month rent deposit.
Guide Price
£830,000 to give an initial yield of 6.26 % after usual purchase costs.
Investment Case
Prominent corner site with outside seating in public square; alcohol licence; very high footfall; tenancy backed by personal guarantee and six month rent deposit. Zone A rent of some £119 with Portobello Road currently experiencing significant rental growth: recent transactions in block immediately to the south in the order of £200 ZA and in the order of £250 ZA in the block beyond.
Legal Costs
Each party to bear their own.
EPC
42 Band B.
Tenure
Freehold.
VAT
The property is not currently 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.
