From
£590,000
Retail premises for sale
Fairfax Place, London W14Auction
Key information
Tenure
Council tax band
About this property
Investment let at £49,560
P.a.
Comprising of 3 self contained units
Commercial unit let on a new £18,720 p.a. On 16 year lease from 2020
2 x studio flats let at £30,840 p.a.
An attractive end of terrace building comprising of a ground floor shop and 2 flats
Located in an affluent area an approx. 0.1 miles from Kensington Olympia station
Potential to split the lease and sell the properties separately (subject to the freeholders consent)
Potential to purchase a share of the freehold (subject to requisite consents) Please refer to legal pack
Strapline
Auction Sale - 10/10/2023
Of interest to Investors and Developers.
3 units comprising of a ground floor shop and 2 x flats in an attractive end of terrace building.
Investment let at £49,560 p.a.
Description
Virtual Tour - Click here
The property is an end of terrace 3 storey building located in a predominantly residential area. The property comprises of a studio flat at lower ground level and a commercial unit and studio flat at ground floor level.
We have been advised that the current leaseholders are in process of looking to establish a Right to Manage company to self manage the property. There is the opportunity to buy the freehold from the Crown Estate. (subject to the requisite consents). The above information has been provided in good faith and cannot be relied upon, any incoming purchasers must do their own due diligence.
Location
Kensington is a popular suburb of London in the borough of Kensington and Chelsea.
The property is situated on the junction of Holland Road and Fairfax Place with Kensington Olympia within easy reach.
The shopping and leisure opportunities of Kensington High Street are can be found less than a mile away.
Holland Park is within easy reach and offers a large open green space for leisure and sporting opportunities.
The property is accessible via the A3220 which also provides road communications to southwest London.
Transport
National Rail, Overground and Underground - Kensington Olympia (Southern, Overground & District Line)
Tenancy
Unit 2:
- Let to a private individual
- Let for a term of 16 years from 2020
- Investment let at £18,720 p.a.
Unit 2A:
- Let to a private individual
- Let on an AST at £15,000 p.a.
Unit 4:
- Let to a private individual
- Let on an AST at 15,840 p.a.
Accommodation
Unit 2:
Ground Floor Shop - Office Area, WC
Unit 2A:
Basement Studio Flat - Studio Room, Kitchen, Shower Room/WC
Unit 4:
Raised Ground Floor Studio Flat - Studio Room, Kitchen, Shower Room/WC
More information
Listed by
Savills - National Auctions
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