Portobello Market - Prime Antiques Section Rarely Available Freehold Shop and Maisonette For Sale Currently fully let and income producing, with ...

Portobello Market – Prime Antiques Section

Rarely Available Freehold Shop and Maisonette For Sale

Currently fully let and income producing, with possession of flat
                      available March 2020

                  77 Portobello Road, W11 2QB

Ground floor sales

Situation & Location

The property is situated on the the western side of Portobello Road, just to the south of the junction
with Westbourne Grove. This busy section of Portobello Road forms the world famous antique
market which attracts a high volume of visitor footfall, originally on Saturdays but now throughout the
week. The property is surrounded by the antique galleries for which the streeet is famous and occupiers
such as Stumper & Fielding; Judy Fox Antiques; Barham Antiques: Chloe Alberry & many others.
Notting Hill Gate Underground (Central, Circle, Disrict Lines) is within easy reach as are the
restaurant and fashion amenties of Westbourne Grove. Please see Goad traders plan and location map
below:

Description & Accommodation

The property forms part of an attractive terrace of Victorian shops with residential upper parts and
comprises a self-contained ground floor and basement retail unit with a two bedroomed maisonette
above, which has the benefit of a superb west facing roof terrace:-

The ground floor retail shop has a gross internal area of 73 sq m (782 sq ft) with an internal width of
12’9 (3.7m) narrowing to 10’7”( 3.2m) and is self contained with its own WC

The upper maisonette has a gross internal area of some 986 sq ft (92 sq m), including 10sq m storage,
and is reached via a private street entrance with stairs leading up to a front reception room, rear dining
room and conservatory kitchen first floor level, leading out to the roof terrace. At half landing level
there is a bathroom/WC and, at second floor above, a double and a single bedroom.
Please see floor plans below:

First floor reception room

Tenure:

The freehold interest is for sale; together with long lease for the upper maisonette (125 years from Jan
07), apportionment of sale price to be agreed.

Tenancies

The ground floor shop is let for a term expiring July 2022, with a tenant option to break in July 2020
upon payment of a £15,000 penalty (the tenant has indicated that at this stage they do not intend to
break): current rent £78,375 per annum exclusive

The upper maisonette is let for on an AST expring Sept 2020 with a mutual break option in March 2020
at a current rent of £795 per week

Thus producing the equivalent of £119,715 per annum gross income

Price An offer of £3,500,000 is sought for this valuable interest

Legal Costs Each party to bear their own

Roof terrace

Energy Performance Certificate EPC ratings: Maisonette 70 (Band C); Shop 77 (Band D) -copy
reports and recommendations available on request

Business Rates The local authority has verbally informed us that the rateable value for the ground floor
shop is £ 46,400 and the rates payable for the current year ending 31/03/19 are £22,586. Interested
parties should make their own enquiries and confirm: - Royal Borough of Kensington and Chelsea
business rates department 0208-315-2082.

VAT Will not apply

Contact Sole agents: JMW Barnard LLP          181 Kensington High Street, London, W8 6SH.

Tel: 0207 938 3990     Jeremy Barnard jb@jmwbarnard.com

SUBJECT TO CONTRACT
Important Notice: Measurements are approximate and no responsibility is taken for any error, omission
or mis-statement in these particulars which do not constitute an offer or contract. No representation or
warranty is given either during negotiations, in particulars, or elsewhere. Interested parties should satisfy
themselves as to condition of property; presence of dangerous or deleterious materials; or functioning of
services, which have not been tested. Unless otherwise stated all rents and prices are exclusive of VAT,
where applicable.

Ordnance Survey © Crown Copyright 2019. All rights reserved.
Licence number 100022432. Plotted Scale - 1:10000

Portobello Road

                                                                                                                               Experian Goad Plan Created: 26/04/2019
                                                                                                                                            Created By: JMW Barnard
                                    50 metres

                               Copyright and confidentiality Experian, 2019. © Crown copyright and                     For more information on our products and services:
                               database rights 2019. OS 100019885                                 www.experian.co.uk/goad | goad.sales@uk.experian.com | 0845 601 6011

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