- Listing ID: 3414
Hotel & Leisure Property For Sale 254 Edgware Road, London, W2
- £7,500,000
- For Sale
Property Overview
-
- 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
General Summary
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
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.