34 Spring Street, Paddington, London, W2 1JA
Business rates & charges may apply
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- SECTOR
High street retail property for sale
Description
**For Sale By Public Auction 10th September 2025 09:30 AM To inspect the legal documents for this property go to our website to download the legal pack**
A Well Located Lower Ground and Ground Floor Restaurant Subject to a Lease Producing £55,000 Per Annum (Rising to £60,000 in 2026)
Tenure
Leasehold. The property is held on a 97 year lease from 24th June 1976 (thus approximately 47 years unexpired).
Location
The property is situated in the highly sought after area of Paddington close to local shops and amenities. The open spaces of Hyde Park are within easy reach. Transport links are provided by Paddington underground (Bakerloo, Circle and Elizabeth lines) and rail stations.
Description
The property comprises a lower ground and ground floor restaurant situated within a terraced building arranged over lower ground, ground and five upper floors.
Accommodation
Lower Ground and Ground Floor
Restaurant Area
Tenancy
The property is subject to an FRI lease for a term of 20 years commencing January 2025 at a rent of £55,000 per annum (rising to £60,000 in January 2026).
Further Information
When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. If you do not fully understand this process, please ask the auctioneers or a solicitor.
Open during their normal business hours
Brochures
34 Spring Street, Paddington, London, W2 1JA
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Lancaster Gate Station0.2 miles
- Paddington Station0.3 miles
- Edgware Road (Bakerloo) Station0.5 miles
Notes
Disclaimer - Property reference 304434. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Auction House London, London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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 Auction House London, London on 020 7870 6217.
*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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