Freehold Mixed Use InvestmentThe property comprises an attractive detached building arranged over lower ground, ground and three upper floors. The residential accommodation benefits from large sash windows set in Stucco or rendered finish. The top floor accommodation is arranged within a mansard level. The entrance to the apartments is from Charlwood Street. There are three retail units arranged over ground floor and basement. The basement which forms part of 134 Alderney Street has an independent access and the lease permits use for residential purposes.
120927 B68 site visit:link
Allianz Summary of Cover (2):Link
Asbestos Blake House 2006:Link
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B68 SC 23.06.10:Link
B68 SC 23.06.2011:Link
B68 SC 2012(2):Link
B68 Service Charge Apportionments:Link
Fire Risk Assessment:Link
Flat 14 Blake House Lease:Link
Lease 134 Alderney:Link
Shop 1 Lease:Link
Shop 1 Licence to Assign:Link
Shop 1 Supplemental Lease:Link
Shop 2 Lease:Link
Permission for Development Conditional:Link
EPC 70 Lupus Street:Link
EPC 72 Lupus Street:Link
EPC 134 Alderney Street:Link
EPC Blake House 9:Link
EPC Flat 3:Link
EPC Flat 7:Link
EPC Flat 11:Link
EPC Flat 12:Link
EPC Flat 14:Link
EPC Flat 17:Link
EPC Flat 8:Link
EPC Flat 15:Link
EPC Flat 16:Link
The property is situated in the heart of Pimlico on a prominent island site. The location provides neighbourhood shopping with retail units at ground floor level facing the property both from Lupus Street and Charlwood Street. Retailers in the vicinity include Tesco Express, Pizza Hut, Corals, Greggs and Dominos plus several high quality independent retailers. Pimlico tube station is a short distance to the east.
Accommodation There are 12 apartments arranged over the first, second and third floors. The commercial properties have the following approximate net internal areas: 70 Lupus Street Ground Floor 40.60 sq. m. (440 sq. ft.) Basement Storage 21.50 sq. m. (232 sq. ft.) Vaults 15.00 sq. m. (161 sq. ft.) Total 77.10 sq. m. (833 sq. ft.) 72 Lupus Street Ground Floor 17.50 sq. m. (188 sq. ft.) Basement 13.70 sq. m. (147 sq. ft.) Total 31.20 sq. m. (335 sq. ft.) 134 Alderney Street Ground Floor 41.91 sq. m. (451 sq. ft.) Mezzanine 14.62 sq. m. (157 sq. ft.) Basement 47.17 sq. m. (508 sq. ft.) Total 103.70 sq. m. (1,116 sq. ft.) Vaults Not Measured
The 12 flats all have 125 year leases from December 1975. The total ground rent is £1,345 per annum.
70 Lupus Street. The tenant is currently holding over by way of a supplemental lease dated 29th July 1999 which expired in 25th December 2011. The rent under the lease is £10,500 per annum though we understand that the tenant would like to enter into a new lease and that the rental of £16,500 per annum has been agreed.
72 Lupus Street. The lease for a term of 5 years from December 2003 has expired and the tenant has been holding over since December 2008 paying the original rent of £7,250 per annum.
134 Alderney Street. Let for a term of 25 years from September 1996 at £15,000 per annum. The user clause in the lease permits A1 retail, A2 office or A3 restaurant uses and also the use of the basement for residential purposes, subject to planning consent.
The properties are entered in the 2010 rating list with a rateable value of: 70 Lupus Street £14,500 72 Lupus Street £7,800 134 Alderney Street £9,300
Each party to pay their own legal costs.
We have been advised that VAT will not be applicable.
The property offers opportunities to add value through active management. Interested parties should contact sole selling agents Hindwoods - Kevin Bright - 020 8858 9303 - email@example.com
These particulars are believed to be correct, but their accuracy is not guaranteed and they do not constitute an offer or form any part of any contract. Hindwoods and its employees have no authority to make any representation or give any warranty in relation to this property.