Greater London, W10 5RU

A CAFÉ / RETAIL PREMISES (A1) CLOSE TO THE JUNCTION WITH GOLBORNE ROAD

Overview

To Let

The shop premises (A1) has a fully glazed frontage directly onto Portobello Road, which leads to an open plan cafe / retail area. To the rear is an office / meeting room, storeroom and W/C. The premises are in good order throughout.

Additionally the front portion of the premises benefits from an alcohol license.

VAT:

The premises is not elected for VAT.

Lease Terms:

To take assignment of the remaining term of the lease, which was granted on 20th June 2017, outside the Landlord & Tenant Act 1954, for a term of 15 years. The passing rent increased from the initial rent of £25,000 per annum to £28,000 per annum on 21st June 2018, which runs until 20th June 2020, thereafter as of 21st June 2020 the rent increases to £30,000 per annum until 20th June 2022. Break clauses and upward only rent reviews are scheduled for the 5th and 10th anniversaries of the lease, 20th June 2022 and 20th June 2027 respectively. The lease terminates on 20th June 2032.

Location

The premises are situated on the south westerly side of Portobello Road in between the junctions with Golborne Mews and Golborne Road. Other local businesses include, Cubitts, Found & Vision, Portobello Frames, Swanky Portobello, Pizza East, Lowry & Baker, Bluebelles of Portobello, Baba Jani, Snaps & Rye, Golborne Deli, George's Portobello Fish Bar, Cockney's Pie & Mash and Real Ale. Public transport is accessed via Ladbroke Grove tube station (Hammersmith & City line).

Accommodation

Open plan retail area

Floor: 1

x 2 rear offices

Floor: 1

Storage room

Floor: 1

W/C

Floor: 1

Overall Area: 784 sq ft

· Fully glazed frontage

· Security grill

· Good ceiling height

· Recessed & pendent spot lights

· White box decor

· Laminate flooring

Tenure

Leasehold

Asking Price of £ 28000 per annum

Premium

£6,500 for the benefit of fixtures and good will

Lease Terms

See Description

Rateable Value

£26,750 per annum

Rates Payable

£13,482 per annum - NB - We strongly suggest that you verify the rates with The Royal Borough of Kensington & Chelsea's Business Rates Department

We strongly advise that you verify these figures with Royal Borough of Kensington & Chelsea City Council Business Rates Department

Possession

Full vacant possession immediately on completion of legal formalities

Legal Costs

Each party is the bear their own legal costs

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