3 Paddington Street, London, W1U 5QD

Description
3 Paddington Street is a period building arranged over basement, ground and 3 upper floors.

The ground floor and basement shop were comprehensively reconstructed in 2024 with a back to bare brick refurbishment and is occupied by Prime LWE LTD trading as Appear Here.

The upper floors are arranged as 3 self contained studio flats with 1 flat occupied and 2 flats vacant.

Location
3 Paddington Street is situated at the junction of Paddington Street and Marylebone High Street, one of central London’s most impressive and desirable retailing locations.

Tenancies
The commercial part is leased to Prime LWE LTD, a high-end, pop-up shop operator that partners with exclusive brands and innovative landlords.

Prime LWE LTD. Company registration number 15911803.

Asset management opportunities
Several asset management opportunities exist for the upper floors and include leasing the vacant flats, explore converting the flats from studios to 1 bedroom flats or converting the entire upper parts to a single dwelling.

Accommodation
The commercial parts have a Net Internal Area of 867 sq. ft.

The studio flats have an average size of 372 sq. ft on a Gross Internal / Net Sales Area basis.

The entire building has a Gross Internal Area of 3,140 sq. ft.

Tenure
The FREEHOLD interest in 3 Paddington Street is being sold. Title number 331194.

Energy Performance
The shop and basement unit has an EPC rating of D, with the EPC expiring in July 2034.

Flats 1+3 have EPC ratings of D. Flat 2 has a rating of C.

The EPC’s expire in June 2029 and January 2030.

Planning
3 Paddington Street is not listed but does fall within the Harley Street Conservation Area.

VAT
This property is not elected for VAT. Therefore VAT will not be charged on the purchase price.

Current Income
£151,200 PA

PROPOSAL
Offers in the region of £3,500,000, subject to contract.

Anti Money Laundering
We are obliged to conduct customer due diligence under the Anti Money Laundering Regulations 2017 and RICS Professional Standards. We will advise which checks are required once heads of terms are agreed.