OFFICES TO LET - Miles Commercial

MILES COMMERCIAL INVESTMENTS
INVESTMENT & PROPERTY CONSULTANTS
25 Ives Street
Knightsbridge
London SW3 2ND
+44 (020) 7581 9722
FREEHOLD RETAIL INVESTMENT
26-28 Gloucester Road
LONDON
SW7 4RB
Misrepresentation Act: Miles Commercial Limited for themselves and for the vendors or lessors of the property whose agents they are give notice that :i) The
particulars are set out as a general outline only for the guidance of intending purchasers or lessees and do not constitute part of an order or contract; ii) All descriptions,
dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any
intending purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the
correctness of each of them; iii) No person in the employment of Miles Commercial Limited has any authority to make or give any representation or warranty
whatsoever in relation to this property.
Miles Commercial Limited trading as Miles Commercial, registered in England at NatWest Bank Chambers, 55 Station Road, New Milton, Hampshire BH25 6JA Company registration No:2591029
26-28 Gloucester Road, SW7 4RB
Location
Gloucester Road is part of one of London’s most affluent districts offering a wide
range of shops, restaurants and cultural venues including the Natural History
Museum, Royal Albert Hall and Hyde Park. The area also contains high end
residential properties and has a wealthy population It is situated within the
Royal Borough of Kensington and Chelsea and is 3 miles west of Central London.
Gloucester Road underground station is served by the Piccadilly, District and
Circle lines and the nearby A4 Cromwell Road, around 400 m to the south, leads
to the M4 and Heathrow airport to the west and Central London to the east.
Situation
The property is situated towards the northern end of Gloucester Road and on
the western side close to the junction with Queens Gate Terrace. The
surrounding areas are predominantly residential with the Gloucester Road
providing local services including retail, restaurants and associated services.
Retailers in the immediate surrounding area include Partridge’s Delicatessen,
Oddbins, Rymans, Ladbrokes, Berry’s, Douglas & Gordon and Olly Hairdressing.
There are also a number of restaurants including Crib de Rib, Memories of India,
il Borgo and the Gloucester Arms.
Description
The property comprises 2 retail units arranged over ground and basement floors
and both benefitting from rear gardens. No 26 has predominantly retail space at
ground floor with a small office and WC to the rear along with access to the
garden. There is a spiral staircase towards the front of the shop which provides
access to additional retail space in the basement as well as storage and staff
facilities.
No 28 also has retail space on the ground floor with a staff WC to the rear and
access to the garden. The basement comprises three separate rooms and a WC.
The residential upper parts have been sold off separately.
26-28 Gloucester Road, SW7 4RB
Accommodation
The property comprises the following net internal areas:
No 26
Floor
Ground
Basement
Total
Sq ft
491
714
1,205
Sq m
45.58
66.31
111.89
The ITZA area is 361 units
No 28
Floor
Ground
Basement
Total
Sq ft
514
576
1,090
Sq m
47.74
53.52
101.26
The ITZA area is 382 units.
Tenure
Freehold
Tenancy
No 26 is let to Fara Enterprises Limited on a 10 year FRI lease from 7th October
2011. The current passing rent is £31,750 per annum and is subject to an upward
only rent review at the end of the 5th year.
No 28 is let to Trinity Hospice Shops Limited on a 10 year FRI lease from 19 th
January 2015. The current passing rent is £32,500 per annum and is subject to an
upward only rent review at the end of the 5th year.
The total passing rent is £64,250 per annum.
Price
We are instructed to seek offers in excess of £1,215,000 (One Million Two
Hundred and Fifteen thousand pounds) subject to contract and exclusive of VAT
for the freehold interest. A purchase at this level reflects a net initial yield of
5.00% based on purchaser’s costs of 5.8%.
Information
For further information please contact:
Duncan Good - Tel: 020 7590 8952 /[email protected]
26-28 Gloucester Road, SW7 4RB
Location Plan
IMPORTANT NOTICE
Miles Commercial Limited for themselves and the vendors of this property whose agents they are give notice that:
1. the particulars are set out as a general outline only for the guidance of intended purchasers or lessees and do
not constitute, nor constitute part of, an offer or contract;
2. all descriptions, dimensions, reference to the condition and necessary permissions for use and occupation, and other details are given without
responsibility and any intending purchaser should not rely on them as statements or representations of fact but must satisfy themselves by inspection or
otherwise as to the correctness of each of them;
3. no person in employment of Miles Commercial Limited has any authority to make or give any representation of warranty whatever in relation to this
property;
4. no responsibility will be accepted for any expenses incurred by prospective purchasers or their agent
5. Miles Commercial Limited have not made any investigations into the existence or otherwise of any issues concerning pollution and potential land, air or
water contamination. The purchaser is responsible for making his own enquiries in this regard. (March 2015)