Available
London W2 – Office
12 Craven Terrace, Lancaster Gate, London W2 3QDVirtual Freehold Retail Investment
Price
£480,000
Rent P.A.
£21,500
Yield
4.48%
Tenure
Leasehold
Lease Term
10 Years
Years Left on Lease
1y 11m
Area
560 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor retail shop t/a office
- Situated within short walk from Hyde Park and Queen`s Gardens, with occupiers nearby include Hotels, Restaurants, Beauty Salon and many more.
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
Comprises mid-terrace ground floor shop t/a office, providing the following accommodation and dimensions:
Ground Floor: 52 sq m (560 sq ft)
Open plan retail, kitchen, storage, wc
Ground Floor: 52 sq m (560 sq ft)
Open plan retail, kitchen, storage, wc
Tenancy Description
The property is at present let to Wentworth Law Limited for a term of 10 years from 25th October 2017 at a current rent of £21,500 per annum and the lease contains full repairing and insuring covenants. Break clause in 2022 not exercised.
Tenure:
Long Leasehold. Held on a 999 Year lease from 15th January 1999 at a ground rent of peppercorn.
Tenure:
Long Leasehold. Held on a 999 Year lease from 15th January 1999 at a ground rent of peppercorn.
Tenancies & Accommodation
Location Description
Lancaster Gate Underground station (Central Line) is situated 5 min walk to the south-east. Paddington Rail and Underground station (District and Circle Line) is 0.3 miles to the north-east. The A40 is located 0.8 miles to the north, providing access into Central London and to the West. The property is situated within the Bayswater Conservation Area, with occupiers nearby include Hotels, Restaurants, Beauty Salon and many more. Hyde Park and Queen`s Gardens are also situated within a short walk from the property.
