Greater London, W2 3QD

A MIXED USE BUILDING (A1 & C3) & FREEHOLD INTEREST CLOSE TO PADDINGTON STATION

Overview

For Sale

The building is situated on the westerly side of Craven Terrace close to the junction with Craven Road. Other local businesses include, The Craven Hotel, Oxford Hotel, Taormina, The Village Paddington, Moores Pharmacy, Chelsea Deli, Pristine Dry Cleaners and La Meena Cafe. Public transport is available from Lancaster Gate (Central line) and Paddington Station (National Rail, Bakerloo, Circle, District and Hammersmith & City lines).

Location

The premises (A1) occupies the ground and lower ground floor of a grade II listed building, which is arranged as an open plan retail area on the ground floor, with office / storage space to the lower ground floor. The upper parts are converted as four flats with flats 2 and 3 retained by the Landlord and flats 1 (1st floor) and 4 (3rd & 4th floor) sold off on long leases. The retail premises, flat 2 and flat 3 are generally in good order, with the lower ground floor in shell and core condition.

The premises is not elected for VAT.

A ground & lower ground floor retail premises (A1) GIA 1,256 sq ft / 116.7 sq m

Flats 2 and 3 GIA 425 sq ft / 39.5 sq m

Ground Floor Shop GIA 519 sq ft / 48.2 sq m Flat 2 GIA 292 sq ft / 27.1 sq m

Basement 546 sq ft / 50.7 sq m Flat 3 GIA 133 sq ft / 12.4 sq m

Vaults 191 sq ft / 17.8 sq m

Total Area: 1,681 sq ft / 156.20 sq m

Accommodation

Open plan retail area

Floor: 1

Basement storage & vaults

Floor: 1

Studio flat

Floor: 2

1 bedroom flat

Floor: 2

Overall Area: 1,681 sq ft

· Fully glazed frontage

· Good ceiling height to the retail area and basement

· Open plan retail area

· Basement office / storage

· Excellent local transport links

Tenure

Freehold

Asking Price of £ 1300000

Lease Terms

Tenanted by Pretty Paws on a 6 year lease for the ground floor premises outside the security and compensation provisions of the Landlord & Tenant Act 1954. The Lease is due to terminate on 31st August 2021

Rateable Value

£16,000 per annum

Rates Payable

£7,856 per annum - NB We strongly recommend that you verify the rates with the City of Westminster's Business Rates Department on

We strongly advise that you verify these figures with City of Westminster City Council Business Rates Department

Possession

The commercial premises is let to Pretty Paws (see Lease Terms), passing rent £21,000 pax. Flats 2 & 3 are currently vacant

Legal Costs

Each party is the bear their own legal costs

Viewing Details

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