Mixed Use Investment Opportunity. for sale by way of Private Treaty OR BY Auction ON THE 17th December 2014 (unless sold prior).

Transcription

1 Mixed Use Investment Opportunity 6 Glendower Place, London SW7 3DP for sale by way of Private Treaty OR BY Auction O THE 17th December 20 (unless sold prior).

2 MIXED USE IVESTMET OPPORTUITY 6 Glendower Place, London SW7 3DP Investment Summary Location > Freehold property comprising: - Restaurant unit (extending to 7.9 sq m / 1,592 sq ft IA) currently let to The Market Place (Chelsea) Limited on assignment from Da Spago Limited, for a term of 20 years from 1st October 20 at a passing rent of 42,500 per annum. (potentially reversionary) - 19 self contained studios assumed to be HMO (extending to sq m / 3,5 sq ft GIA) let on ASTs producing a gross income of 220,448 per annum. Estimated gross rental income (ERV) of studios (fully let): 232,500 per annum. > Overall gross rental income of 262,948 per annum (ERV if fully let: 275,000 per annum) across a total Gross Internal Area (including common parts) sq m (6,422 sq ft). > Located in South Kensington within travel Zone 1 approximately 250 metres west from South Kensington London Underground Station (District, Circle and Piccadilly Lines). Glendower Place is located in South Kensington within the Royal Borough of Kensington and Chelsea in Central London. South Kensington offers a variety of restaurants, bars, shops and boutiques. The more extensive shopping facilities of Kings Road, Kensington High Street and the West End are all within easy reach of the property. Glendower Place itself is mainly residential in character. The subject property forms part of a terrace of period townhouses. The property is situated on the east side of Glendower Place, which links with Harrington Road to the north and Old Brompton Road to the south. Communications are excellent with South Kensington Underground Station (Circle & District Line, Piccadilly Line) approximately 250 metres to the east providing access into the West End in six minutes. There are also numerous bus routes within easy walking distance. Green Park Oxford Circus Paddington Overground Station Holborn 6 minutes minutes minutes minutes description The property is a mid terraced, period building arranged over basement, ground and five upper floors. The property consists of a restaurant occupying ground and basement levels and 19 self-contained studios arranged over 5 upper floors. The restaurant and residential elements have separate entrances. The ground floor of the property also has a small manager s office and a communal laundry area. The restaurant is currently let to The Market Place (Chelsea) Limited on assignment from Da Spago Food Limited, for a term of 20 years from 1st October 20 at a current rent of 42,500 per annum. The lease is subject to 4 yearly upward only rent reviews. The studios are let on AST agreements with a current gross rent equating to 220,448 per annum. is currently vacant. The HMO income is inclusive of all utility bills and council tax. Crown Copyright - licence no Based on Ordnance Survey 20. ot to Scale - For Identification Purposes Only.

3 MIXED USE IVESTMET OPPORTUITY 6 Glendower Place, London SW7 3DP ACCOMMODATIO SCHEDULe Residential Tenure The property is held freehold. Unit Tenant Gross Internal Area (Sq Ft) Rent (pcw) Rent (pa) Tenancy start date Tenancy end date 1 AST , //2013 Periodic 2 AST ,800 01/08/2013 Periodic 3 AST ,200 03/02/2013 Periodic 4 AST ,0 01/07/2008 Periodic 5 AST ,200 15/08/20 15/01/ AST ,000 01/09/20 Periodic 7 AST ,200 01/05/20 Periodic 8 AST ,800 06//20 Periodic 9 AST ,200 01/01/2013 Periodic 10 AST ,800 01/09/20 28/02/2015 AST ,200 02/04/20 Periodic AST 196 Vacant Vacant Vacant Vacant 13 AST ,200 01/01/2013 Periodic AST ,000 10/03/2013 Periodic 15 AST ,000 25/08/2008 Periodic 16 AST ,000 19/06/2003 Periodic 17 AST ,000 /07/2010 Periodic AST ,600 01/10/20 Periodic 19 AST ,000 01/07/20 Periodic Total 3,5 220, Commercial Unit Tenant Use Ground & Basement The Market Place Chelsea Limited Commercial / Restaurant (A3) Gross Internal Area (Sq Ft) Rent (Per Annum) Overall Total 5, , Lease Start Lease Expiry ext Rent Review 1,592 42,500 01/10/20 31/09/ /10/ Underground Railway REECE MEWS to Ward Bdy 1 to 35 Petersham House Comments 1 to Lycee Francais HARRIGTO ROAD 7 to 10 4 Yearly Upward Only Rent Reviews. Rental Deposit of 10,500 held. AGA in place with Da Spago Limited (Assignor) 31 KEDRICK MEWS PlanninG The restaurant benefits from A3 planning use. The upper floors are HMO. We understand that the property does not require an HMO licence as each unit is self contained. The property is not listed and does not fall within a conservation area. However interested parties should rely on their own enquiries. 21 BUTE STREET to 9 46 QUEESBERRY WAY Mansions 5 to to Glendower Jerome House 4 Zetland Arms to GLEDOWER PLACE (PH) 3 TCBs 1 to to LB Hotel 2 to 10 7 to 19 LB Harrington Court a PO Cromwell Hotel to 17 Bank 1 to 10 2 to Egerton Court Rents from ovember 20 0m 10m 20m 30m 8 KEDRICK 2 60 Crown Copyright - licence no Based on Ordnance Survey 20. ot to Scale - For Identification Purposes Only. 53 to 57 9 to PLACE Ordnance Survey Crown Copyright 20. All rights reserved. Licence number Plotted Scale - 1:50

4 MIXED USE IVESTMET OPPORTUITY 6 Glendower Place, London SW7 3DP FLOOR PLAS 6 GLEDOWER 6 GLEDOWER PLACE SW7 6PLACE GLEDOWER SW7 6PLACE GLEDOWER SW7 PLACE SW7 APPROX. GROSS ITERAL APPROX. AREA GROSS * ITERAL APPROX. AREA GROSS * ITERALAPPROX. AREA * GROSS ITERAL AREA * 6422 Ft ² M ² 6422 Ft ² M ² 6422 Ft ² M ² 6422 Ft ² M ² Illustration For Identification Illustration Only, ot For to Scale IdentificationIllustration Only, ot tofor Scale Identification Only, Illustration ot to Scale For Identification Only, ot to Scale All Calculations include Any/All All Calculations Areas Under include 1.5m Head Any/AllAll Height. Calculations Areas Under include 1.5m Head Any/All Height. All Areas Calculations Under 1.5m include HeadAny/All Height. Areas Under 1.5m Head Height. *As Defined by RICS - Code of*as Measuring Defined Practice by RICS - Code of Measuring *As Defined Practice by RICS - Code of Measuring *As Defined Practice by RICS - Code of Measuring Practice '9" x '6" 3.89 x 3.81m '9" x '6" 3.89 x 3.81m '9" x '6" 3.89 x 3.81m '9" x '6" '6'' x '3'' 3.89 x 3.81m 3.81 x 3.73m '6'' x '3'' 3.81 x 3.73m '6'' x '3'' 3.81 x 3.73m '3'' x '3'' 5.56 x 3.43m '3'' x '3'' 5.56 x 3.43m '3'' x '3'' 5.56 x 3.43m '3'' x '3'' 19' x '9'' 5.56 x 3.43m 19' x '9'' 5.79 x 3.89m 5.79 x 3.89m 19' x '9'' 5.79 x 3.89m 19' x '9'' 5.79 x 3.89m Office 7'9'' x 4'9'' 2.36 x 1.45m Office 7'9'' x 4'9'' 2.36 x 1.45m Office 7'9'' x 4'9'' 2.36 x m Office 7'9'' x 4'9'' x 1.45m '9'' x 8'6'' 4.19 x 2.59m 13'9'' x 8'6'' 4.19 x 2.59m 13'9'' x 8'6'' 4.19 x 2.59m 13'9'' x 8'6'' 4.19 x 2.59m 15'3'' x '9'' 4.65 x 3.58m 19 15'3'' x '9'' 4.65 x 3.58m 19 15'3'' x '9'' 4.65 x 3.58m 19 15'3'' x '9'' 4.65 x 3.58m 19 '9'' x '9'' 4.50 x 3.58m '9'' x '9'' 4.50 x 3.58m '9'' x '9'' 4.50 x 3.58m 21'3'' x 13'9'' 6.48 x 4.19m 21'3'' x 13'9'' 6.48 x 4.19m 21'3'' x 13'9'' 6.48 x 4.19m 31'3'' x '3'' 9.52 x 4.34m 21'3'' x 13'9'' 6.48 x 4.19m 31'3'' x '3'' 9.52 x 4.34m 31'3'' x '3'' 9.52 x 4.34m 31'3'' x '3'' 9.52 x 4.34m '3'' x ' 6.17 x 4.27m 20'3'' x ' 6.17 x 4.27m 20'3'' x ' 6.17 x 4.27m 20'3'' x ' 6.17 x 4.27m 15'6'' x 10' 4.72 x 3.05m 15'9'' x 9'6'' 15'6'' 4.80 x 10' 2.90m 4.72 x 3.05m 15'9'' x 9'6'' '6'' xx2.90m 10' 4.72 x 3.05m 15'9'' x 9'6'' 4.80 x 2.90m Balcony Balcony Balcony Balcony LOWER GROUD LOWER FLOORGROUDLOWER FLOORGROUDGROUD LOWER FLOORGROUD FLOORGROUD FLOOR FIRST GROUD FLOOR FLOOR FIRST FLOOR FIRST FLOOR SECOD FIRST FLOOR FLOOR SECOD FLOOR SECOD FLOOR SECOD FLOOR These floor areas have been supplied by BKR Floorplanners and we understand they have been measured in accordance with the RICS Code of Measuring Practice B K R B K R T: T: C BKR 20 C BKR 20 B K R T: C BKR 20 B K R T: C BKR 20

5 FLOOR PLAS 6 GLEDOWER 6 6 GLEDOWER PLACE SW7PLACE SW7 APPROX. GROSS APPROX. ITERAL APPROX. GROSS ITERAL GROSS AREA * ITERAL AREA * AREA * 6422 Ft ² Ft M ² 6422 ² Ft ² - M ² M ² Illustration For Illustration Identification Illustration For Identification Only, For ot Identification to Scale Only, ot Only, to Scale ot to Scale All Calculations All Calculations include AllAny/All Calculations include AreasAny/All include UnderAreas 1.5m Any/All Head Under Areas Height. 1.5m Under Head 1.5m Height. Head Height. *As Defined by*as RICS Defined - Code *As by of Defined RICS Measuring - Code by RICS Practice of Measuring - Code of Measuring Practice Practice 6 GLEDOWER 6 PLACE PLACE SW7 SW7 Areas Areas included included et in Internal et Internal Area Area '9'' x '3'' '9'' x '3'' '9'' x '3'' 3.89 x 3.73m 3.89 x 3.73m 3.89 x 3.73m 13'6'' x 13'6'' x 13' 4. x 3.96m 4. x 3.96m '9'' x '9'' '9'' x '9'' 4.50 x 3.89m 4.50 x 3.89m To Loft To Loft '3'' x '3'' '3'' x '3'' 5.56 x 3.43m 5.56 x 3.43m 19' x '9'' 19' x '9'' 5.79 x 3.89m 5.79 x 3.89m Office Office 7'9'' x 4'9'' 7'9'' x 4'9'' 2.36 x 1.45m 2.36 x 1.45m ' x 10'9'' ' x 10'9'' ' x 10'9'' 4.27 x 3.28m 4.27 x 3.28m 4.27 x 3.28m 15'3'' x 10'9'' 15'3'' x 10'9'' 4.65 x 3.28m 4.65 x 3.28m '9'' x 10'9'' '9'' x 10'9'' 3.58 x 3.28m 3.58 x 3.28m To Roof To Roof 13'9'' x 13'9'' 8'6'' x 8'6'' 4.19 x 2.59m 4.19 x 2.59m '3'' x 21'3'' 13'9'' x 13'9'' 6.48 x 4.19m 6.48 x 4.19m 31'3'' x 31'3'' '3'' x '3'' 9.52 x 4.34m 9.52 x 4.34m 16'9'' x '9'' 16'9'' x '9'' 16'9'' x '9'' 5. x 3.58m 5. x 3.58m 5. x 3.58m 15' x 8'3'' 15' x 8'3'' 15' x 8'3'' 4.57 x 2.51m 4.57 x 2.51m 4.57 x 2.51m 16' x 10' 16' x 10' 4.88 x 3.05m 4.88 x 3.05m '9'' x 9'9'' '9'' x 9'9'' 4.50 x 2.97m 4.50 x 2.97m '9'' x 10'6'' '9'' x 10'6'' 4.50 x 3.20m 4.50 x 3.20m '6'' x 8'3'' '6'' x 8'3'' 4.42 x 2.51m 4.42 x 2.51m THIRD FLOOR THIRD THIRD FLOOR FLOOR FOURTH FOURTH FLOOR FOURTH FLOOR FLOOR FIFTH FLOOR FIFTH FIFTH FLOOR FLOOR SIXTH FLOOR SIXTH SIXTH FLOOR FLOOR LOWER LOWER GROUD GROUD FLOOR FLOOR GROUD GROUD FLOOR FLOOR B K RB K BRK R T: T: T: C BKR 20C BKR 20 C BKR 20 B K B RK R T: 0845T: C BKR 20 C BKR 20

6 MIXED USE IVESTMET OPPORTUITY 6 Glendower Place, London SW7 3DP MAYFAIR HYDE PARK HARRODS LODO EYE THE SHARD BROMPTO CROSS KIGS ROAD ATURAL HISTORY MUSEUM BUCKIGHAM PALACE SOUTH KESIGTO UDERGROUD STATIO 6 Glendower Place, London SW7 3DP

7 MIXED USE IVESTMET OPPORTUITY 6 Glendower Place, London SW7 3DP

8 MIXED USE IVESTMET OPPORTUITY 6 Glendower Place, London SW7 3DP Method of Sale Offers are sought in excess of 4,250,000, subject to contract and subject to the existing leases and tenancies. The property is offered for sale by way of Private Treaty or by auction dated 17th December (unless sold prior). Further Information A full suite of background information, including EPCs, can be found on the online dataroom at: Contacts For further information please contact: Savills Allsop Davina Clowes +44 (0) dclowes@savills.com Stuart Bridge +44 (0) sbridge@savills.com James Laverack +44 (0) jlaverack@savills.com Adam Kerven +44 (0) adam.kerven@allsop.co.uk Sam Lockwood +44 (0) sam.lockwood@allsop.co.uk Alice Macdonald (née Cox) (Commercial West End) alice.macdonald@allsop.co.uk Important otice Savills, Allsop and their clients give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and that Savills and Allsop have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Designed and Produced by Savills Marketing: ovember 20