Lot 145 Shop And Flat Plus Rear Building With PotentialAuction Date:
20th September 2023
115 Kensington Church Street, London, W8 7LN
Currently let at £52,000 per annum
A rare and unique opportunity to acquire this impressive freehold four storey building arranged as a retail unit on the ground and lower ground floors with residential upper parts and a rear workshop, accessed via a private road.
This terrace property is fully let, producing £52,000 per annum, although we understand there is potential for rental growth. The workshop to the rear is considered suitable for development, subject to all necessary consents being obtainable.
The building is located on a popular, busy thoroughfare in the heart of Kensington, between Bayswater Road and Kensington High Street. There are comprehensive local shopping facilities in the immediate vicinity with easy access to Holland Park and Kensington Gardens, and central London easily accessible by nearby tube stations or road access.
Ground Floor
Retail Unit
Stairs up half landing, separate W.C. and stairs down to:-
Lower Ground Floor
Display area/workshop with office space, two store rooms. External spiral staircase to first floor workshop, accessed via a separate driveway to Camden Street and providing vehicular and pedestrian access.
Residential Unit
Accessed via the ground floor retail unit. Stairs to:-
First Floor
Half landing, living room and kitchen.
Second Floor
Two double bedrooms, half landing and bathroom with W.C.
Tenancy
Let under the terms of a five-year lease, from 15th November 2017 at a current rental of £52,000 per annum. The tenants are holding over under the terms of the existing agreement which is subject to the 1954 Landlord & Tenant Act.
Local Authority
The Royal Borough of Kensington and Chelsea. Tel: 0207 3613000. Website: rbkc.gov.uk.
Council Tax Band F
There is an addendum available to be read
in conjunction with the legal documentation.
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
