Home > Auctions > March 2021 02 March 2021 - 9:00am > Lot 62

March 2021: Tuesday 02 March 2021 - 9:00am
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    Key features

    • Prime mixed use investment
    • Four flats with leases under 50 years
    • Three commercial leases
    • Investment let at £66,200 per annum at completion

    Description

    A five storey mid terrace building comprising three retail units on the ground floor currently let out under two commercial leases, twelve flats over the ground, first, second and third floors and garage at basement level

    Four flats with lease terms under 50 years

    Investment currently let at £63,950 per annum but will be increased to £66,200 by completion

    Additional information

    Tenure

    Freehold

    Accommodation

    Basement - Garage

    Ground Floor - Three retail premises let under two leases and three self-contained flats

    First Floor - Three self-contained flats

    Second Floor - Three self-contained flats

    Third Floor - Three self-contained flats

    Tenancy

    115 Clarendon Road - Let to Sunshine Dog Walk Ltd trading as Yuppy Puppies for 10 years beginning and including 27th October 2017 at a rent of £16,000 per annum

    117 - 119 Clarendon Road - Let to Farhad Pazandeh Masouleh trading as Oksa Quality Foods for 15 years beginning and including 14th October 2008 at a rent of £29,500 per annum

    Basement 115 - 119 Clarendon Road - Let to Narain Khemchand Jagtiani trading as Portland Motors for recently re-agreed for 5 years beginning and including 24th March 2021 at a rent of £20,500 per annum. Tenant in occupation since 13th July 1992.

    Flat 1 - 189 years from 24th June 1970

    Flat 2 - 99 years from 24th June 1970. Ground rent payable of £50 per annum

    Flat 3 - 189 years from 24th June 1970

    Flat 4 - 189 years from 24th June 1970

    Flat 5 - 189 years from 24th June 1970

    Flat 6 - 99 years from 24th June 1970. Ground rent payable of £50 per annum

    Flat 7 - 189 years from 24th June 1970

    Flat 8 - 189 years from 24th June 1970

    Flat 9 - 99 years from 24th June 1970. Ground rent payable of £50 per annum

    Flat 10 - 189 years from 24th June 1970

    Flat 11 - 99 years from 24th June 1970. Ground rent payable of £50 per annum

    Flat 12 - 189 years from 24th June 1970

    Rent

    £66,200 per annum

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        Local information

        Clarendon Road is a desirable street in the heart of Notting Hill

        Local shopping amenities are conveniently close by as are the bars, restaurants and boutiques of Kensington Park Road

        Clarendon Cross, Holland Park Avenue and Westbourne Grove

        Recreational amenities of Holland Park and Avondale Park are both easily accessible

        Transport

        Ladbroke Grove - Hammersmith & City, Circle

        Holland Park - Central

        Legal documents

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        EPC rating

        If no EPC rating appears please refer to the legal pack.

        Guide prices and common auction conditions

        •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

        •The reserve price is the minimum price at which the property can be sold.

        •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

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        Please note that all prices listed, whether prior to or post auction, are subject to contract.

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