Portobello Road, London, W11
- PROPERTY TYPE
Retail Property (high street)
- SIZE
1,000 sq ft
93 sq m
Key features
- Back on the market due to failed negotiations
- Investment opportunity
- Rent reserved at £65,000 PA
- Gross yield at guide price equivalent to 10%
- Well know and established location
Description
Investment opportunity with long leasehold rental income from ground floor commercial premises. The commercial space is well-established hot food stalwart on Portobello Road; operating via numerous names and guises as a specialist vegan and vegetarian food provider with a history stretching back to 1987. Established A5 use.
Let to Portobello Health Foods Limited (11729708) on an FRI Lease within the Landlord & Tenant Act 1954, which commenced on 15/1/21 and was granted for a 25 year term. The Lease is due to terminate on 14th January 2045 and the passing rent is £65,000 per annum. With a review on 23rd April 2025 and every 5th anniversary thereafter.
NB - We recommend purchasers verify the rates with the Royal Borough of Kensington & Chelsea's Business Rates Department
Ground Retail Zone B 158
Ground Kitchen 301
Ground Storage 247
Ground Retail Zone A 194
This is a non-basement property, which may offer potential to create up to a further 1000sq ft subject to the necessary planning permission.
Contact Barney Estates & Auctioneers for further details
Portobello Road, London, W11
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Ladbroke Grove Station0.2 miles
- Westbourne Park Station0.3 miles
- Latimer Road Station0.6 miles
About the agent
Barney Estates and Auctioneers, London
Baltimore House, Juniper Drive, London, SW18 1TS
Our team of London property auctioneers are experts in residential and investment property in London and throughout the UK. With a varied portfolio of land, development opportunities and residential properties, our friendly and experienced team can help you to buy or sell property in today's fast-paced and dynamic real estate market.
Notes
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Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Barney Estates and Auctioneers, London on 020 8432 7330.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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