Property unavailable
This property advert is no longer active. It is possible that the same property has been re-advertised under a separate listing, click below to view any replacement or similar listings.
Please note we do not have names or contact details of anyone currently occupying this building
we are also unable to provide details of the agents that posted the original advert with us.
If you are the owner of the building and would like to re-post this advert please email renewals@novaloca.com
If you would like to know if this, or any similar property comes back or on to the market
please click here to get updates by email.
Freehold Investment, 63 Praed Street, London, W2 1NS
3,304 Sq Ft / Other
Withdrawn - Last updated: 27 November 2023
Summary
The property comprises an extremely well-maintained building arranged over lower ground, ground and three upper floors. The ground and lower ground floors are retail class E premises with the uppers forming 4 Residential Flats (1 x studio, 2 x 1 beds and 1 x2 bed) all let on ASTs.
The property has been maintained to a high standard throughout and benefits from wood flooring and high ceilings. Flat D also has a decked terrace area.
Key Points
Reversionary Mixed Use Freehold InvestmentLocated in Paddington and opposite St Mary's HospitalPaddington Station is within a few minutes walking distance providing Mainline and Underground servicesArranged over lower ground, ground and three upper floorsThe building has been maintained to a high standard through and benefits with wooden flooring and high ceilingsThe Retail premises is let to Harvey Thompson Ltd on a 25 year lease expiring 3rd May 2024 with a passing rent of £33,500 pa, Inside the L&T Act 1954The residential flats are all let on ASTs with a combined rent of £90,324 paTotal income of £123,824 pa with an Estimated Rental Value of £148,100 paTotal floor area of 3,304 sqftThe property is elected for VATLocation
Praed Street is located in Paddington, running from Edgware Road to Craven Road. The property is located on the South side of Praed Street close to Junction Place and South Wharf Road, and is opposite St Mary's Hospital. The street is home to several hotels, restaurants and retailers, making it a popular area for tourists and commuters. The area has benefitted from the recent opening of Crossrail at Paddington Station which also provides Mainline and Underground services (Bakerloo, Hammersmith & City, Circle and District Lines), together with Heathrow Express.
Email me updates about similar new properties
Show similar properties