• Size:
    Undisclosed
  • Usage:
    A1, A3
  • Sale Type:
    For Sale
  • Rental Income:
    Undisclosed
  • Property Type:
    Other
    Flats
  • Auction:
    No
  • Development Opportunity:
    No
  • Investment Opportunity:
    Yes
  • Tenanted:
    Yes
  • Energy Rating:
    N/A

ACCOMMODATION
The Ground Floor shop and Basement trade as COSTA COFFEE. The Upper Parts will be refurbished and redeveloped to provide 25 Serviced Letting rooms. Each will comprise a double bedroom with kitchenette, shower room furnished to a high quality standard to include wooden floors ,leather sofas and flat screen TV’s


TENANCY DETAILS
The Ground Floor and Basement trades as COSTA COFFEE, held under a franchise agreement by Costa Catering Ltd, a major Costa Coffee franchisee.
Upon legal completion Costa Catering will revert to a 15 year Full Repairing and Insuring lease, subject to five yearly upward only rent reviews at the market rent of £120,000 per annum exclusive
The 25 residential units, having capital values of £200,000, have high demand for daily, weekly, monthly and annual occupation


TENURE
Freehold, subject to the letting to Costa Catering Ltd and vacant possession of the upper parts

PRICE
£7.5m subject to the proposed rental income


CAPITAL VALUES:
£2.5m in respect of Ground Floor and Basement and £200,000 per residential unit

LOCATION
The building is located close to the junction with Chapel Street in the block adjoining MARKS & SPENCER, opposite the London Hilton Metropolis. Both Edgware Road Station and Marble Arch are in close proximity.