Summary
This landmark character building is located in the heart of Knightsbridge, conveniently positioned on the westerly side of Brompton Road between the junctions of Montpelier Place and Cheval Place. Occupying an elevated mid-terrace position, the property is believed to date from c. 1880, enjoying excellent visibility and passing footfall by virtue of the close proximity of a number of key global retail brands. These include Harrods, Diesel, All Saints, Burberry, Zara, Watches of Switzerland, Bonhams, The Kooples and Russell & Bromley, setting this particular corner of Prime Central London apart as one of the most highly sought-after and most frequently visited parades across the Capital. Key residential developments such as One Hyde Park are located close to the site and the immediate proximity of open green spaces, the Serpentine lake and Imperial College London all serve to re-affirm the strength of this location.
Key Points
Grand, mid-terrace period buildingExcellent Commercial tenantsSelf-contained duplex apartmentGenerating £124,580 per annumGenuine ‘Trophy’ assetFor Sale - FREEHOLDAttractive capital value at just £1,059 p/sq/ft
Planning
The permitted use from 1st September 2020 is Use Class E meaning that a range of varied commercial activities may take place at the property, subject to approval from the Royal Borough of Kensington & Chelsea. The building is not listed and we understand that the property may be able to accommodate a further floor although no investigations have been made. We recommend that any interested parties complete their own due diligence in this regard.
Occupational Leases
COMMERCIAL: Ground & Basement - For a term of 10 years from 20th July 2016 to William Hill Organisation Limited at an annual rent of £63,000 per annum. The break clause of July 2022 has not been exercised and the lease cannot therefore be broken until 19th July 2026.
First Floor – For a term of 10 years from 15th April 2018 to W. Coleman & Co. Limited, inside the Landlord & Tenant Act 1954 at an annual rent of £33,500. There is no break clause until the end of the lease.
RESIDENTIAL: Let to a private tenant for £2,340 pcm (£28,080 per annum) on an Assured Shorthold Tenancy Agreement with an expiry date of 10th April 2023 and a 2-month mutual break clause from 11th October 2022.
Data Room Link:
https://winkworth.foleo.net/register/170BromptonRd
Location
Knightsbridge is London’s most revered residential and retail districts. The building is supremely located in the heart of London’s premier residential and commercial district. Transport links are plentiful between Knightsbridge and South Kensington with Hyde Park located close by in addition to a number of prestigious and successful global hotel chains, benefiting from the fast access to Heathrow Airport.Terms
TERMS: The property is being offered for sale subject to the three current occupational leases.
VAT: The property is not elected for VAT.
RATEABLE VALUE: The rateable value has been set as follows:-
• Ground & Basement Retail - £67,000 per annum
• First Floor Office - £31,500 per annum
RATES PAYABLE: We strongly recommend that you verify the rates within the Royal Borough of Kensington & Chelsea’s Business Rates department on 020 7361 2828.
EPC: 1st Floor Commercial: D85 Residential Duplex: E45.