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Lot 3 Click here for addendum

Freehold Commercial Investment – Approx. 10½ years unexpired to Ryman Limited
6 Week Completion

Situation

Located opposite the junction with Kensington Church Street, adjacent to Nando's and amongst such other multiple retailers as Amazon Fresh, Boots, M&S Food Hall, Coral, Pret A Manger, NatWest, Snappy Snaps, Leon and many more.
The property is conveniently situated approximately 50 yards from Notting Hill Gate Underground Station (Central, Circle and District Lines) and is close to Holland Park and Hyde Park in central London.

Property

A mid-terrace building comprising a Deep Ground Floor Shop with internal access to a Basement and Ancillary Accommodation on the first, second and third floors. In addition, the property includes a Rear Garden.

Accommodation

Deep Ground Floor Shop
Gross Frontage	14'2"
Internal Width	12'5"
widening at rear to	14'0"
Shop & Built Depth	105'6"
WC
Area	Approx. 1,322 sq ft¹
Basement
(5'2" restricted head height)
Area	Approx. 400 sq ft
First Floor
Ancillary Area	Approx. 636 sq ft¹
Second Floor
Ancillary Area	Approx. 439 sq ft¹
Third Floor
Ancillary Area	Approx. 169 sq ft¹
Total Area	Approx. 2,966 sq ft

¹Area taken from VOA

VAT is applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Ryman Limited (having over 200 branches) for a term of 15 years from 25th April 2020 (by way of a reversionary lease) at a current rent of £120,000 per annum exclusive (see Note).

Rent Review 2030

Note: The tenant currently has a rent free period up to and including 2nd December 2024 and thereafter the rent reverts to £102,000 p.a. up to and including 24th April 2025. Subsequently, the tenant has a further rent free period from 25th April 2025 to 8th September 2025 following which the rent immediately rises to £120,000 p.a. Accordingly, the Vendor will top-up this rent shortfall on completion.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

56 Notting Hill Gate, London W11 3HT