ON BEHALF OF THE FIXED CHARGE RECEIVERS

Transcription

1 ON BEHALF OF THE FIXED CHARGE RECEIVERS 4&5 INVERNESS MEWS BAYSWATER, LONDON W2 3JQ PART LONDON FREEHOLD OFFICES SALES PARTICULARS

2 INVESTMENT SUMMARY Prime West London location, very close to both Bayswater and Queensway Underground stations, (Central, Circle and District lines). Offices totalling approximately 2,521 sq ft net (234.3 sq m) and approximately 3,000 sqft gross (279 sq m). Part income-producing. Two interconnecting properties potential to separate. Freehold. Potential for conversion to residential, subject to necessary consents. Of interest to investors, part owner-occupiers and developers. We are instructed to seek offers in excess of 1,050,000, subject to contract. A purchase at this price reflects a capital value of 416 per sq ft on the net areas and circa 350 per sq ft on the gross areas. SUBJECT TO CONTRACT

3 Location Inverness Mews is located in the Bayswater area of West London. The property has good transport links, being situated just off Queensway, close to both Bayswater and Queensway Underground stations, which are serviced by the Central, Circle and District lines. Kensington Gardens are within a short walk from the property and the vibrant Queensway provides a wealth of local shops, restaurants and bars.

4 Description The properties comprise two adjoining and interconnecting brick built offices, arranged over ground, first and second floors. The property is currently fitted out for office use and benefits from part wall-mounted comfort cooling. The floors are open plan, but some partitions have been added to create private offices. There are WC s on the second and ground floors. The building has been measured in accordance with the RICS code of measuring practice and the Net internal floor areas are set out below: Number 5 Number 4 sqft (sqm) sqft (sqm) Floor Second 372 (34.6) 273 (25.4) First *486 (45.2) 412 (38.3) Ground 529 (49.1) 449 (41.7) Total 1,387 (128.9) 1,134 (105.4) Total Net Area of both properties 2,521 (234.3) The total Gross Area for both properties is approximately 3,000 sqft (279 sqm) *Access for measurement of the first floor at Number 5 was not available; the above area was taken from the Valuation Office s website.

5 Tenure Freehold Tenancies The second floor of No5 is occupied by Isis Ebrahim and Robert Basilious on a Tenancy at Will, which is terminable at any time by either the landlord or the tenant. The current rent is 1,025 per month (exclusive of VAT). The first floor of number 5 is let to a Mr Liu on a 3 year lease at 13,000 pa which expires on 30 th July Number 4 is fully vacant and with the ground floor at number 5 provides approximately 1,663 sqft net of vacant offices. Second First Ground Number 5 Number 4 (273 sq ft) Occupied on a Tenancy at will which can be broken by either party (372 sq ft) Occupied by Mr Liu paying 13,000 pa until 30 th July 2011 (486 sq ft) (529 sq ft) (412 sq ft) (449 sq ft) Planning The property is currently designated as B1 office use. There is planning precedent in the street for potential residential conversion, with 8 Inverness Mews receiving consent in Proposal Offers in excess of 1,050,000, subject to contract.

6 Investment Considerations Prime West London location with easy access to both Bayswater and Queensway Underground Stations. Income producing at 25,300 per annum with vacant space on both the ground floors and the first floor in number 4. Of interest to investors, developers and owner occupiers Potential for conversion to residential subject to planning Further Information For further information or to arrange an inspection, please contact:- Christopher Ware Direct Dial: Dominic Amey Direct Dial: Disclaimer Messrs Colliers Godfrey Vaughan for themselves and for the vendors or lessors of this property, whose agents they are, give notice that: 1. These particulars are set out as a general outline only, for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract. 2. All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details are given without responsibility, and any intending purchasers or tenants should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3. No person in the employment of Messrs Colliers Godfrey Vaughan has any authority to make or give any representation or warranty whatever in relation to the property. 4. Unless otherwise stated all rents or prices quoted are exclusive of VAT which may be payable in addition. 5. Colliers Godfrey Vaughan have not made any investigations or otherwise of any issues concerning pollution and potential land, building, air or water contamination. Prospective purchasers must undertake their own enquiries and satisfy themselves in this regard. 6. These particulars, particularly rents and prices described herein do not constitute, or form part of, a formal valuation. 7.April 2009.

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