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228 Belsize Road, Kilburn, London Nw6 4Bt

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228 Belsize Road, Kilburn, London Nw6 4Bt 228 BELSIZE ROAD, KILBURN, LONDON NW6 4BT OFFERS IN EXCESS OF £1,800,000 FREEHOLD INVESTMENT – SALE & LEASEBACK OPPORTUNITY Location Occupying a prominent corner position on Belsize Road and the junction of Priory Road, in a mixed residential and commercial area. The property is a short walk from the busy Kilburn High Road (A5), with notable traders such as NatWest, M & S Foods, Sainsburys, Primark, Costa Coffee and Caffe Nero. Ideally located for easy access to Central London via Kilburn High Road station (London Overground), Kilburn Park station (Bakerloo Line) and Swiss Cottage station (Jubilee line). Access to the A40 Westway is approximately 1.5 miles away. Existing Description The commercial restaurant is arranged over the ground floor and basement of the property, with a conservatory area on the side of the building with circa 160 covers. The upper floors are arranged as 3 x studio flats and 1 x 1 bedroom flats (self contained) producing an average rental income of approx. £45,000 p.a. Second Floor 667.12 ft2 62 m2 First Floor 667.12 ft2 62 m2 Ground Floor Restaurant 1747.85 ft2 162.44 m2 Basement Restaurant 1,231.74 ft2 113.42 m2 228 BELSIZE ROAD, KILBURN, LONDON NW6 4BT Development Opportunity Planning application 2015/5832/P has been granted by Camden Council (subject to completion of Section 106 agreement) for demolition of the conservatory and rebuild of basement, ground, first and second floors. The planning application provides for the existing residential to be combined with the new build element to provide in total 2 x 2 bedroom and 2 x 1 bed flats. The ground floor and basement of the new build will be reintegrated with the remaining restaurant space. Leaseback Our clients intention is to take a 10 year lease on the ground floor and basement at a rental income of £60,000 p.a. upon completion of the sale. In addition the purchaser would be given the ability to carry out the development with the tenant re-occupying under the same lease once complete. Little Bay who currently trade from the ground floor and basement have been in operation since 1992 and currently operate from Three sites, Farringdon, South Croydon and the subject property. Please see www.littlebay.co.uk. Little Bay also have links with Food Ilic, who also operate three further food outlets, two in Brighton and one in Kings Cross., see www.foodilic.com. The leaseback intended will however be in the name of a newly created company and the information provided here is to bring to the purchasers attention the catering experience, success and longevity in the industry of the operators involved. 228 BELSIZE ROAD, KILBURN, LONDON NW6 4BT EPC VAT Offers sought in excess of £1,850,000. The property has not been elected for VAT. PRICE We are seeking offers in excess of £1,800,000 FURTHER DETAILS Please contact Strettons 7-10 Chandos Street Commercial Rating G LONDON W1G 9DQ Nick Duck 020 7907 7422 Residential Flats 1 – 4 Rating D [email protected] MISREPRESENTATIONS: These particulars do not constitute an offer of contract. We have not tested any of the services referred to in these particulars. The accuracy of any description, dimensions, reference to condition, necessary permissions for use and other details contained herein is not guaranteed and is for general guidance only. Applicants should satisfy themselves as to the correctness of the details including as to whether VAT is payable on rents, prices or premiums 228 BELSIZE ROAD, KILBURN, LONDON NW6 4BT .
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