West Hampstead Property Investment

On behalf of executors in probate. · Reversionary commercial Investment with Rent Review due December, 2009.

Substantial future mixed use development potential on lease expiry (2014) subject to planning permission

13/13a WEST HAMPSTEAD MEWS, LONDON NW6 3BB

Location The premises are located in a quiet mixed use mews a stones throw from West End Lane, London NW6, benefitting from a plethora of restaurants, cafes and bars along with other retail amenities. The area also benefits from first class transport connections with Thames link, Jubilee Line and London over-ground links within close proximity. Road links are also good with M1, A1, A406 North Circular and A41 all within 3 miles.

Description The premises comprise a pair of interconnecting buildings used for motor vehicle repair purposes. Both were originally constructed around the turn of the Century with later extensions added. Both appear to be a good state of repair.

'Building 1' is period in nature and is utilised at ground floor level for workshop use and for residential use at first floor level. There is also a shallow pitched roof which may be suitable for future extension and redevelopment.

'Building 2' comprises a series of workshops which are mostly interconnecting and have ancillary office accommodation to the rear of the 1st floor. There is substantial potential to redevelop this building and extend at first floor level in the future.

Accommodation The property has the following floor areas on a 'Gross Internal' basis:

Ground Floor Workshop Space - 2,300 sq.ft
1st Floor Rear Office Space - 472 sq.ft.

In addition there is an unmodernized self contained 1-bedroom flat (at 1st floor level) which the tenant is permitted to privately sublet.

Tenure The premises are being offered on a freehold basis subject to a occupational tenancy (to K and P Coachworks Ltd) expiring 25th December, 2014.

There is a rent review due in December, 2009 and the current passing rent is £18,150 per annum exclusive.

PRICE Unconditional offers are sought IRO £600,000 for the benefit of our clients unencumbered freehold interest.

RATEABLE VALUE Rateable Value - Assessed in conjunction with the ground floor of number 12 and the total RV is £16,250 (£7,507.5 per annum rates payable).

VIEWINGS For further information or to arrange a viewing please contact Gavin Sherman on 020 7644 2300