Description
This charming, mid-terraced semi-stucco fronted Freehold is a truly unique opportunity to acquire a ‘best in class’ Freehold Retail Investment. We are disposing of the Commercial element (Use Class E) of the property which spans the ground floor with a small mezzanine level to the rear. It is arranged to provide a Ground Floor restaurant area with semi-open kitchen/preparation area, washrooms and further dining space to the upper floor.
The commercial occupier has been on site for a considerable period of time and currently benefits from a 15 year lease within the Landlord & Tenant Act (1954) which commenced on 22nd September 2018 and will expire on 21st September 2033. The original lease has been assigned to a third party and now generates annual income of £42,950 with Rent Reviews at each 5-yearly interval, the next of which is due in September 2028.
To the side of the commercial premises, there is a private entrance leading directly to the residential duplex at first and second floor levels which has been sold off on a Long Lease for a term of 125 years from 29th September 2002, thereby leaving 122 years remaining with a modest Ground Rent of £40 per annum.
Location
The wide boulevard-like Chiswick High Road offers the main supply of shops, cafes and restaurants, including a branch of Neapolitan pizza sensation Franco Manca. Tables spill out onto the pavement, providing a calm and almost ‘European’ charm to the area that is renowned for its high quality gastronomic destinations. Away from the chains, cherished local eateries include the sophisticated yet welcoming La Trompette on the neighbourly Devonshire Road. Pleasant riverbank watering holes serve pints of London Pride from Fuller’s historic Griffin Brewery, a site that has been producing beer since the time of Oliver Cromwell, while The Crown is a favourite with locals. Chiswick has more than its fair share of highly recommended coffee shops and patisseries, including Chief Coffee, Gail's Bakery and Nikki's. Other eateries include Fouberts, The Whistling Oyster, Cottura and Grove Park Deli.
This immediate locale is also occupied by several of the most prominent chains and occupiers including Gails, Pret a Manger and Paul alongside a number of local legends including Brutto, St John, Le Café du Marche and of course the occupying tenant Tarantella.
Terms
Rateable Value: The Rateable Value of the Commercial element is £15,250 per annum.
Rates Payable: To be advised.
Local Authority: London Borough of Hounslow.
(Note: We strongly recommend that any interested parties verify the rates payable and any planning history with London Borough of Hounslow).
Legal Title & Tenure: The Freehold Title is as follows:-
• 4 Elliot Road (Freehold) Title Number: LN81388
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 sole agents, Meridian Commercial Property Partners LTD
EPC: Commercial: C (53).
VAT: The Property is not elected for VAT.
Method of Sale: The Property is For Sale by Private Treaty as a Freehold Retail Investment (£625,000).
Further Information is available via the vendors Sole Selling Agents, Meridian Commercial Property Partners LTD.
Transport
Tube: Two Tube stations serve Chiswick. Chiswick Park is in Zone 3 on the District Line and Turnham Green sits on the border of Zones 2 and 3 on both the District and Piccadilly Lines. Journeys from Chiswick Park to Victoria take 22 minutes, and it’s 30 minutes from Turnham Green to King’s Cross.
Rail: Services from Chiswick station to Waterloo take less than half an hour. Trains also run to Victoria in 31 minutes via Clapham Junction.
Bus: Chiswick is well connected by bus with routes serving Camden Town (27), Greenford (E3), Richmond (391) and Hammersmith (190). Both the 27 (to Chalk Farm) and the 94 (to Piccadilly Circus) are 24 hour services, and there are night buses to Heathrow (N9) and Liverpool Street (N11).
The property enjoys an excellent PTAL Rating of 5.
