616 King's Road, Fulham, London, SW6 2DU
1,148 Sq Ft / Other
For Sale
- £1,000,000.00
Under Offer - Last updated: 13 March 2024
Summary
FOR SALE BY INFORMAL TENDER. Available to the market for the first time in almost 60 years - Number 616 Kings Road is a rare and exciting opportunity to acquire this Freehold building in the heart of the globally renowned Chelsea Design Quarter. Arranged as a Ground Floor retail unit with private yard and a First Floor residential flat with private roof terrace, the property now benefits from detailed planning permission (LBHF Re: 2021/00897/FUL) for Erection of an additional floor at roof level comprising a front and rear mansard extension; erection of a ground and first floor rear extension.
Once developed, the property will comprise an outstanding retail unit of 647 sq.ft. along this highly sought-after parade with an ERV of £35,000 per annum. The upper two floors will continue to enjoy their own private entrance, complemented by a vast two bedroom maisonette with private roof terrace of some 1,184 sq.ft. Residential new build values in the area start at £1,100 p/sq/ft.
Please note:- The last two internal images are visualisations of the property if developed.
Key Points
FOR SALE BY INFORMAL TENDER.BEST BIDS BY 16TH JUNE 2023.Planning permission for redevelopment.First time to the market in almost 60 years.Combined Income of £39,400 per annum.Impressive Kings Road location.Forecourt within the demise.Location
This landmark character building is well located on the north side of Kings Road close to the Edith Row Junction. This part of the Chelsea / Fulham border is an affluent and fashionable part of west London populated by excellent bars, restaurants and eateries such as Megan’s and The White Horse. The area is also particularly attractive for design-led retailers benefiting as a satellite to the Chelsea Design Quarter.
Of further interest is the significant volume of re-development close by, including large luxury apartment buildings, exceptional local and individual businesses in Parson’s Green and the easy access to the River Thames.
The subject property is well served by public transport with local buses passing by and Fulham Broadway Tube Station being a short walk away, providing fast access to Central London.Terms
RATEABLE VALUE: £21,250 per annum (retail) RATES PAYABLE: £9,902.50 per annum (retail)
GROUND FLOOR RETAIL: 643 sq.ft. (59.8 sq.m.) RESIDENTIAL 1st FLOOR: 505 sq.ft. (46.9 sq.m.)
GIA: 1,148 sq.ft. (106.7 sq.m.)
LOCAL AUTHORITY: London Borough of Hammersmith & Fulham. Note: We strongly recommend that you verify the rates within the London Borough of Hammersmith & Fulham Business Rates department on 020 8753 6681.
VAT: The premises is not elected for VAT.
POSSESSION: Part vacant possession immediately on completion of legal formalities. The ground floor retail is subject to the lease as indicated.
A1 LEASE TERMS: A full FRI lease was granted for a term of 10 years in 2019 at a current rent of £25,000 per annum with a Tenant-only break at Year 5 and rent reviews due on every 5th anniversary of the term.
LEGAL COSTS: Each party is to pay their own legal costs.
Property Quote Price(s)
| Description | Sale type | Guide price | Price type |
| |
For Sale Freehold
|
£1,000,000.00
| NA |
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