Location Estimated District Population: 236,000 Roads: A4, A40, A304, A308
Position The property is located in a prominent location on Great Portland Street, in the heart of London’sWest End close to its junction with Mortimer Street whilst only a short distance east of Regent Street and north of Oxford Street.
Nearby: Marks & Spencer, Post Office, Toni & Guy, Boots the Chemist, McDonald’s, Oasis, Nike, Ladbrokes, Barclays Bank, Strada, Carluccio’s and Pret a Manger.
Present Accommodation (approximate areas) Floor
Accommodation Net Internal Areas
Ground Basement
First
Sales/Ancillary Ancillary
Offices Second Offices Third
Fourth Fifth
Offices (5) Offices
Offices (5)
48.30 sq m 72.92 sq m
50.16 sq m 27.87 sq m
27.87 sq m 28.79 sq m 27.87 sq m
(520 sq ft) (785 sq ft)
Description SHOP arranged on the ground floor and basement with self-contained OFFICES arranged on the first, second, third, fourth and fifth floors.
Tenure Long Leasehold for a term of 999 years from April 1915 at a fixed ground rent of £18 per annum.
VAT is not applicable to this lot.
Viewings Please note that there will be two viewing days for this property. Please contact Sarah Butterworth at sarah.butterworth@cbre.com to confirm your name, email and phone number.
Tenant Term
MR CRAFTSMAN LIMITED (1) 10 years from 22nd November 2010 with a rent review in 2015
(540 sq ft) BRIGHT ARTIST MANAGEMENT LIMITED (2)
(300 sq ft) FRESH FILM PRODUCTIONS LIMITED (4)
(300 sq ft) VACANT (310 sq ft) VACANT
(300 sq ft) BRIGHT ARTIST MANAGEMENT LIMITED
Total Commercial Area 283.78 sq m(3,055 sq ft)
3 years from 6th August 2010 (3)
5 years from 26th September 2007
– –
3 years from 6th August 2010 (3)
Total Rent
Rent £ p.a. £29,000
Gross Rent
£65,000 pa Prominent Virtual Freehold Shop and Office Investment in PopularWest End Location
• Busy Central London location close to Oxford Street and Regent Street
£17,500 (3) £9,500
– –
£9,000 (3) £65,000 (3)
(1) Please note that the landlord holds a £14,500 rent deposit – please see legal documentation. (2) Please note that the landlord holds a £6,000 rent deposit – please see legal documentation. (3) Please note that the rent in the leases is inclusive of service charge and insurance. The leases also incorporates a tenant’s option to break on 5th August 2012 – please see leases for details.
(4) Please note that the landlord holds a £3,167 rent deposit – please see legal documentation. (5) At the time of our inspection, we were unable to gain access to this accommodation are are therefore unable to verify the areas stated. NB. The property has the benefit of a passenger lift, which we understand, currently requires maintenance repairs.
The Special Conditions of Sale and a legal pack are available from the Seller’s Solicitors and are available online at www.cbre.co.uk/auctions. Seller’s Solicitor Hamlins LLP. t: 0207 355 6024. e: mhurst@hamlins.co.uk Ref:MHurst Esq.
25
• Shop lease expires November 2020
• Five floors of offices over – part let and part vacant possession
• Possible change of use and active management opportunities of upper parts (subject to leases and consents)
• VAT- free investment and 5Week Completion available