Last Updated: 16th Jul 2022
Description
A rare opportunity to acquire a mixed-use freehold in the heart of King Street. The four-storey end of terrace property provides 2,020 sq ft (excluding the yard) and offers investment and development angles, suitable for a range of purchasers.
The commercial accommodation is over the ground floor only and is occupied by HSS Hire (A1 use). The commercial benefits from a rear and side yard which is accessible via King Street.
The upper floors consist of a studio flat to the first floor, containing a bedroom/living area, bathroom and kitchen. The top floor flat is over the second and third floor and has four bedrooms, a kitchen and bathroom. Both flats are accesible via King Street.
Prime Freehold Opportunity
Location
The property is positioned on the western side of King Street, close to Chiswick High Road, in the London Borough of Hammersmith and Fulham. The surrounding area is made up of a mix of commercial and residential properties.
The property is easily accessible with Stamford Brook Station (District Line)
only a 2-minute walk away (0.1 miles) and Hammersmith Station ( District, Piccadilly, Circle and Hammersmith & City Line) 0.9 miles away. The property is also surrounded by multiple bus stops providing access to areas such as Richmond and Fulwell.
There are multiple successful retailers in the local vicinity including Papa Johns, Sainsbury's Local and Artisan Coffee.
Size Notes
The property has been measured in accordance with the RICS Code of Measuring Practice (6th Edition) and RICS Property Measurement (2nd Edition) (incorporating IPMS), to provide the following NIA for the commercial, GEA for the yard and IPMS 3 for the residential.
Commercial (NlA):
Ground Floor: 62.1 sq m (668 sq ft)
External yard (GEA)
Rear yard:
31 .46 sq m
(339 sq ft)
Side Yard:
80.29 sq m (864 sq ft)
Residential:
119.47 sqm (1,286 sq ft)
Lease
The commercial accommodation is occupied by HSS Hire
Service Group Limited (00644490) on a 10 year Inside the Act FRI lease, from the 14th August 2016. The current passing rent is £15,250 per annum exclusive, there is an outstanding rent review from August 2021. The yard adjoining 344 King Street is also let by HSS Hire from 30th May 2018 at a passing rent of £3,000 per annum exclusive. The license is subject to a one-month rolling break clause.
The first-floor studio (Flat 1) is on a 12 month AST with a private tenant at a passing rent of £7,800 per annum exclusive. The second and third floor flat (Flat 2) is on a AST agreement from1st September 2020 to 31st August 2023 to a private tenant at a passing rent of £19,800 per annum.
Total passing rent £45,850 per annum exclusive.
Price Description
We are instructed to seek offers in the region of £1.65 million for the freehold interest. Subjectc to contract.
EPC
Commercial (D 91)
Flat 1 (E 40)
Flat 2 (D 62)
The commercial accommodation is occupied by HSS Hire
Service Group Limited (00644490) on a 10 year Inside the Act FRI lease, from the 14th August 2016. The current passing rent is £15,250 per annum exclusive, there is an outstanding rent review from August 2021. The yard adjoining 344 King Street is also let by HSS Hire from 30th May 2018 at a passing rent of £3,000 per annum exclusive. The license is subject to a one-month rolling break clause.
The first-floor studio (Flat 1) is on a 12 month AST with a private tenant at a passing rent of £7,800 per annum exclusive. The second and third floor flat (Flat 2) is on a AST agreement from1st September 2020 to 31st August 2023 to a private tenant at a passing rent of £19,800 per annum.
The current total income for this property is £45,850 per annum exclusive.
