1 Springvale Terrace, West Kensington, London, W14 0AE
4,401 Sq Ft / Other
For Sale
- £1,600,000.00
Available - Last updated: 28 March 2024
Summary
This is an outstanding two-storey Freehold that currently provides ‘best in class’ educational space to one of the country’s leading providers of pre-school day-care. The property has been rigorously maintained over recent years and now enjoys the benefits of a secure gated environment in a discreet location with a substantial two-storey building arranged across Ground and First Floors that open up to provide several bright, free-flowing spaces with washrooms, kitchen areas and extensive storage. The gated courtyard to the front elevation provides off-street parking for up to 6 vehicles and to the rear is a large, well-appointed playground area.
Key Points
Let to Monkey Puzzle Day Nurseries Limited.Current Passing Rent of £87,500 per annum.New 20 year Lease Agreed at £100,680 per annum.Fully self-contained Freehold.Off-street parking.Extensive external amenity spaces.Attractive Capital Value at just £364 p/sq/ft.Location
The property is located in a cul-de-sac to the southern end of Springvale Terrace, close to the junction with Masbro Road, W14. Local transport links are excellent, with Kensington Olympia Underground station (District Line) a short walk away and numerous bus routes are also within close proximity. The property enjoys a PTAL Rating of 3.Terms
TENURE: Freehold.
ACCOMODATION: The accommodation comprises the following:-
Ground 2,390 sq.ft./222.1 sq.m.
First Floor 2,011sq.ft./186.9 sq.m.
Total 4,401 sq.ft./352.93sq.m.
TENANCY: The current lease commenced on 1st September 2010 and expires on 31st August 2025 with a passing rent of £87,500 per annum. The new reversionary lease will commence from 1st September 2025 for term of 20 years on FRI basis, at that point the new headline rent will take effect at £100,680 per annum until 1st September 2030 and there is also a tenant only break at the 10th year of occupation. Please note the tenant in situ will have 3 months rent free from commencement of the reversionary lease, effectively the new rent of £100,680 will commence from 1st December 2025.
VAT: It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT.
MONEY LAUNDERING REGULATIONS: Money laundering regulations require Winkworth to conduct checks upon all purchasers. Prospective purchasers will need to provide proof of identity and residence.
TERMS: We are instructed to invite offers in the region of £1,600,000 with a sale at this level reflecting a Gross Yield of 5.46%. Upon the commencement of the new lease term in September 2025 the performance of this investment will rise to 6.3%.
VIEWINGS: Strictly through the sole agents, Winkworth Commercial and made by prior appointment. Under no circumstances should any direct approach be made to any of the occupational tenants staff.
Property Quote Price(s)
| Description | Sale type | Guide price | Price type |
| |
For Sale Freehold
|
£1,600,000.00
| NA |
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