Savills Property Auctions | 45-57 Elgin Avenue, Maida Vale, London W9 3PP

May 2022: Tuesday 10 May 2022 - 9:00am

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Floorplan

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Key features

Prior approval approved for 4 x two bedroom flats and 1 x one bedroom flat over ground and basement floors
Un-broken parade of shops amounting to a total GIA of 10,432 sq ft (969.16 sq m)
Immediate asset management opportunities in re-letting the vacant retail units
Development potential to convert the remaining 2 units into residential use (subject to the requisite consents)
6 Week completion available

Description

The property comprises of 7 lock up shops over ground and basement floors. The property has good height clearance at basement level with a number of units having access to a rear alleyway at the back of the property. Unit 2 (No 47) is currently tenanted with the remaining units vacant (please refer to notes).

The property has prior approval approved to convert 5 of the units into 4 x two bedroom flats and 1 x one bedroom flat including No 45, 47, 49, 53 and 55 Elgin Avenue. Please refer to Planning for the proposed drawings.

Additional information

Tenure

Leasehold. 125 years (less 3 days) from 18th October 1991 (Approx. 94 years unexpired)

Accommodation

45 Elgin Avenue (unit 1)

Ground - Retail area, stairs case and W/C - an approx. 652 sq ft (60.6 sq m)
Basement - Storage area - an approx. 926 sq ft (86 sq m)
Total 1,578 sq ft (146.6 sq m)

47 Elgin Avenue (unit 2)

Ground - Retail area, Stair case and WC - an approx. 835 sq ft (77.6 sq m)
Basement - Storage area, WC - an approx. 837 sq ft (77.8 sq m)
Total 1,972 sq ft (155.4 sq m)

49 Elgin Avenue (unit 3)

Ground - Retail area, Stair case - an approx. 846 sq ft (78.6 sq m)
Basement - storage area, 2 x WC's - an approx. 826 sq ft (76.7 sq m)
Total 1,672 sq ft (155.3 sq m)

51 Elgin Avenue (unit 4)

Ground - Retail area, Stair case, WC - an approx. 846 sq ft (78.6 sq m)
Basement - Storage area - an approx. 818 sq ft (76 sq m)
Total 1,664 sq ft (154.6 sq m)

53 Elgin Avenue (unit 5)

Ground - Retail area, Stair case, WC - an approx. 815 sq ft (75.7 sq m)
Basement - Storage area - an approx. 806 sq ft (74.9 sq m)
Total 1,621 sq ft (150.6 sq m)

55 Elgin Avenue (unit 6)

Ground - Retail area, Stair case, 2 X WC - an approx. 775 sq ft (72 sq m)
Basement - Storage area - an approx. 727 sq ft (67.5 sq m)
Total 1,502 sq ft (139.5 sq m)

57 Elgin Avenue (unit 7)

Ground - Retail area, Stair case - an approx. 374 sq ft (34.7 sq m)
Basement - Storage area - an approx. 349 sq ft (32.4 sq m)
Total 723 sq ft (67.1 sq m)

Tenancy

47 Elgin Avenue (Pharmacy)

Let in a 25 year lease from 28.05.1998
Investment let at £15,000 per annum

All the other units are vacant apart from 57 Elgin Avenue (unit 7) which is currently squatted - ~~the benefit of the court order to remove the squatter will be passed to the new purchaser.~~ Please refer to the legal pack

Planning

Westminster City Council

45 Elgin Avenue

Planning ref: 17/08909/PIAPA

Proposed:

Ground Floor - Room/Study, Kitchen/Dining, Staircase/Void to Basement.
Basement - Bedroom, Ensuite Bathroom, Living area, WC and Utility area- access to shared private open space at the rear.

47 Elgin Avenue

Planning ref: 17/08904/PIAPA

Proposed:

Ground Floor - Bedroom, Kitchen/Dining, Ensuite Shower room, Staircase/Void to Basement
Basement - Bedroom, Living area, Ensuite Bathroom, Utility and WC - access to shared private open space at the rear.

49 Elgin Avenue

Planning ref: 20/04327/PIAPA

Proposed:

Ground Floor - Bedroom, Kitchen/Dining, Ensuite Shower room, Staircase/Void to Basement
Basement - Bedroom, Living area, Ensuite Bathroom, Utility area and WC - access to shared private open space at the rear.

53 Elgin Avenue

Planning ref: 17/08907/PIAPA

Proposed:

Ground Floor - Bedroom, Kitchen/Dining, Ensuite shower room, Staircase/Void to Basement
Basement - Bedroom, Living area, Ensuite Bathroom room, Utility area and WC/Shower room - access to shared Private open space at the rear.

55 Elgin Avenue

Planning ref: 17/08910/PIAPA

Proposed:

Ground Floor - Bedroom, Kitchen/Dining, Ensuite shower room, Staircase/Void to Basement
Basement - Bedroom, Living area, Ensuite shower room, Utility area and WC/Shower room - access to shared Private open space at the rear.

Description

Prior approval under Schedule 2, Part 3, Class M of the Town and Country Planning (General Permitted Development) Order 2015 for change of Use from Class A1 (shops) to Use Class C3 (Residential), associated external alterations

Please note that we understand that the above was originally granted under appeal, which was legally challenged and quashed but subsequently re-heard at appeal in August 2020, where it was allowed and permission granted in full however please carry out your own due diligence and refer to local planning authority for more information.

Rent

Total current rent £15,000 per annum

Notes

Joint Auctioneer

Sean Cooper

Director

Savills Development

Tel: +44 (0) 207 409 9948

Mobile: +44 (0) 7807 999 521

Email: SCooper@savills.com

Please note the site areas provided are approximate. The photos and red line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.

Please note 57 Elgin Avenue (unit 7) is currently squatted - ~~we believe that the benefit of the court order to remove the squatter will be assigned to the new purchaser and will confirm in due course.~~ Please refer to legal pack

Contact

The property is located on the North side of Elgin Avenue and is situated between the junctions of Chippenham Road and Harrow Road.

Local shops, amenities, restaurants can be found directly on Elgin Avenue and close by on Harrow Road.

Westbourne Park underground station is located an approx. 0.4 miles from the property

Transport

Underground - Westbourne Park (Circle and Hammersmith & City Lines)

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

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