59 Shirland Road, Maida Vale, London, W9 2JD

Description
This is a superb Freehold Commercial Investment in the heart of Maida Vale that enjoy secure income from an established tenant and has the benefit of Ground Rent and potential Reversionary Income from the basement flat.

The property is well located with a striking glazed frontage and self-contained wash room facilities. The terms of the Commercial Lease are as follows:-

• A 15 year term from 5th April 2012 thereby expiring on 4th April 2027.
• There is no break option to either Landlord or Tenant for the remainder of the term.
• The Lease is inside the Landlord & Tenant Act 1954.
• Rent is payable quarterly in advance.

The Freehold also benefits from a Ground Rent income in relation to the 3 residential apartments, all of which are sold off on leases. Recently 2 of these have enjoyed lease extensions with the basement property potentially generating additional reversionary income at a date in the future. Please note that there is Ground Rent Income for each unit as follows:-

1st 33 years - £150 p/a
2nd 33 years - £300 p/a
3rd 33 years - £600 p/a/

We await confirmation as to whether the two recently extended leases have adjusted their Ground Rent obligations.

Location
Maida Vale offers excellent transport links, primarily through the Bakerloo line and local buses. The area boasts two tube stations, Maida Vale and Warwick Avenue, both on the Bakerloo line, which provide quick access to Paddington and Oxford Circus. Several bus routes also serve the area, including 24-hour and night bus services. The PTAL Rating is 4.

Terms
The Freehold Title is as follows:-
59 Shirland Road, London W9 (Title Number: NGL407768)
This is being sold on the basis of retention of the occupying tenancies upon completion of legal formalities.
Services: It is our understanding that mains water, electricity, gas and drainage are provided. However, it is the responsibility of the purchaser to ensure that services are available and adequate for any proposed development.
AML: The purchaser will be required to provide the necessary information to satisfy AML requirements.
Viewings: The properties may be inspected internally strictly through prior appointment. Prospective purchasers should be aware that inspections are made entirely at their own risk and no liability is accepted by the vendor or their agent.
VAT: The property is not elected for VAT.