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Prime Retail Premises, 187 Portobello Road, Notting Hill, W11 2ED

904 Sq Ft / Retail / General Retail

For Sale - £1,250,000.00

Available - Last updated: 03 June 2024

The premises has a glazed frontage directly onto Portobello Road, which leads to an open plan retail area occupying the whole ground floor, together with a additional small storage area to the rear edition. The basement is arranged with a storage room to the front of the building and a staff breakout area / kitchenette to the rear, together with staff W/C. There is also a small court yard garden to the rear lower ground floor. Generally in good order.

Commercial Lease Terms - Smart Range Leather Co Limited have been granted an FRI Lease outside the Landlord & Tenant Act 1954, which commenced on 30th June 2013 and was granted for a 10 year term. The Lease is due to terminate on 30th June 2023 and the passing rent is £52,000 per annum (under let in the current market).

Location

The premises are situated in a prime position on the westerly side of Portobello Road in between the junctions with Blenheim Crescent and Elgin Crescent.

Other local businesses include Honest Burger, Five Guys, Electric Diner & Cinema, Coffee Plant, Joe & The Juice, The Humming Bird Café, Gail’s Bakery, Maison Puget Bakery & Café, Portobello Arts Club, Cath Kidson, Kurt Geiger, Admiral Vernon Antique Market, Dolphin Arcade and The Ginstitute. Public transport is accessed via Ladbroke Grove (Hammersmith & City line) and Notting Hill Gate (Central, District & Circle lines).

Accommodation

Ground Floor & Basement - 894.00 sq ft (83.06 sq m)

W/C - 10.00 sq ft (0.93 sq m)

TOTAL - 904.00FT² (83.98M²)

Terms

SALE TERMS: Commercial Lease Terms: Smart Range Leather Co Limited have been granted an FRI Lease outside the Landlord & Tenant Act 1954, which commenced on 30th June 2013 and was granted for a 10 year term. The Lease is due to terminate on 30th June 2023 and the passing rent is £52,000 per annum (under let in the current market).

PRICE: £1,250,000 subject to contract

RATES:

Rateable Value £32,250 per annum

Rates Payable £16,092.75 per annum

NB - We strongly recommend that you verify the rates with the Royal Borough of Kensington & Chelsea’s Business Rates Department on 0207 361 2828

POSSESSION: The premises is currently occupied by Smart Range Leather Co Ltd, see Commercial Lease Terms

LEGAL COSTS: Each party to be responsible for their own legal costs.

VAT: Not elected for VAT

EPC: Available upon reques

Specification

  • A fully retractable glazed frontage
  • Full open plan retail area to the ground
  • Wood flooring
  • Air conditioning
  • Kitchenette
  • Staff W/C

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £1,250,000.00 NA

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Agency Team

Knight Commercial London

020 3369 0656



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