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90 WESTBOURNE GROVE NOTTING HILL, LONDON W2 3 Prominently Situated on Investment Westbourne Grove in the Heart of the Affluent and Luxury Notting Hill Summary

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90 WESTBOURNE GROVE NOTTING HILL, LONDON W2 3 Prominently Situated on Investment Westbourne Grove in the Heart of the Affluent and Luxury Notting Hill Summary 1 Grove House 90 WESTBOURNE GROVE NOTTING HILL, LONDON W2 3 Prominently situated on Investment Westbourne Grove in the heart of the affluent and luxury Notting Hill Summary Prime Notting Hill location. Mixed use retail and office building benefitting from a large 15 metre frontage to Westbourne Grove. Freehold. 11,636 sq ft NIA (1,080.9 sq m) arranged over ground and four upper floors. Numerous asset management, refurbishment and development opportunities exist with full vacant possession obtainable by September 2019. Current passing rent, including top-up of £539,014 per annum. Full planning consent to redevelop a new six storey building comprising retail over lower ground and ground floors with 11 luxury residential apartments above. Excellent market dynamics with a desirable local retail pitch and historically low office supply in the immediate vicinity. Significant local regeneration projects including the £1bn redevelopment of Whiteleys Shopping Centre, the arrival of Crossrail at Paddington and Frogmore’s earmarked redevelopment of the Notting Hill Estate. Offers in excess of £11,550,000. NIY of 4.37%, assuming vendor top-up and purchaser’s costs of 6.70%. Reversionary yield of 4.68% upon settlement of outstanding Sainsbury’s rent review (assuming Calderbank ERV). Capital value: £993 psf on existing NIA and £669 psf on the consented areas. REGENT’S PARK PADDINGTON PADDINGTON WHITELEYS MARYLEBONE THE CITY MAYFAIR HYDE PARK KNIGHTSBRIDGE NOTTING HILL GATE CENTRAL GH WESTBOURNE GROVE 6 7 Grove House Location Notting Hill Internationally recognised as a premier retail, residential and leisure destination, Notting Hill is one of Central London’s most desirable and affluent neighbourhoods, home to an eclectic mix of fashionable boutiques, restaurants, markets and bars attracting a global audience. Visitors are a significant driver of the local economy with Portobello Road market and the Notting Hill Carnival helping to attract millions of visitors each year. 8 9 Grove House Westbourne Grove Westbourne Grove forms one of the main arterial routes linking Paddington and Bayswater to the east with Portobello Road in the west. The property occupies a prominent position on the north side of the street close to its junctions with Hereford Road and Monmouth Road benefitting from excellent levels of footfall. Westbourne Grove is a prime retail location in Notting The eastern end of the street leading to Paddington Hill encompassing a variety of galleries, restaurants, has traditionally been a more secondary retail pitch. high-end fashion houses, national retailers and However, in recent years the area has witnessed desirable boutiques. significant investment as a result of numerous residential The western end of the street which adjoins Portobello led developments, the £5bn regeneration of Paddington Road is particularly renowned for its high end boutiques and the proposals for Whiteleys Shopping Centre. As a and fine dining with occupiers including James Purse, result, a number of high profile multi-national brands Orlebar Brown, 202, Chucs, Sandro, Daylesford & Maje including Heal’s, BoConcept, Planet Organic, Gourmet to name a few. Burger Kitchen and Franco Manca all now have a presence. Additionally, Whiteleys Shopping Centre, just 0.3 miles to the east, boasts tenants including Zara, H&M and Marks & Spencer. The scarcity of local supermarkets ensures strong tenant demand at Grove House with the residential nature of the location driving supermarket demand. However, there is a distinct lack of retail units that could provide adequate floor plates suitable for a supermarket occupier. 10 11 Grove House Local Developments Newcombe House, Notting Hill Gate Notting Hill Gate Estate Whiteleys Shopping Centre Proposals for a striking 17-storey building providing up to 46 high-end apartments, A regeneration program is underway to transform Notting Hill Gate into a A £1 bn regeneration has been announced for the Grade II listed department 40,000 sq ft of office space and 30,000 sq ft of new retail space together with a modern transport hub whilst protecting the area’s bohemian heritage. Frogmore, store just to the east of Grove House. Due for completion in 2020, the scheme brand new public realm, have been drawn up by a joint venture between Brockton who owns the 171,000 sq ft estate, is currently improving the façades of the will provide 100 luxury town houses and apartments arranged around a central Capital and U + I. existing buildings whilst applying for planning permission for a comprehensive courtyard with a boutique hotel, cinema and retail. As part of the development, redevelopment to include extending and improving the retail, improved public traffic calming and pedestrianisation is planned, which will vastly improve the realm with wider pavements, decreased traffic and enhanced public art. consumer experience of Westbourne Grove. Several other smaller schemes have been recently completed enhancing the local area and amenities including: 14-16 Westbourne Grove, London, W2 Queens, Queensway, Bayswater, London, W2 The Imperial, St Stephen’s Gardens, W2 Garden House, Kensington Gardens Square, W2 Developer: Alchemi Group Developer: Derwent London Developer: Euroterra Capital Developer: Residential Land Size: 20, 1-3 bedroom apartments above retail Size: 16, 1-3 bedroom apartments above retail Size: 16, 1-3 bedroom apartments Size: 57, 1-2 bedroom apartments Luxury boutique residential development 2 minutes Restoration of an Art Deco cinema creating 16 striking Victorian residential terrace restored to its former Grade II listed property, sensitively restored to create along Westbourne Grove from the Property apartments above retail glory to create 16 luxury apartments 57 apartments overlooking Kensington Gardens Square, just to the south of the Property 12 13 Grove House Developments: Office: Retail: Connectivity 1 The Imperial, St Stephen’s Gardens 8 Kingfisher 14 Chucs 20 Maje 2 14-16 Westbourne Grove 9 Misys 15 James Perse 21 Space NK 3 The Queens Building, Queensway 10 Statoil 16 Daylesford 22 Franco Manca 4 Garden House, Kensington Square 11 Vodafone 17 Sandro 23 Byron Burger O U Gardens 12TE Visa 18 Orlebar Brown 24 Gourmet Burger Kitchen P A R A 5 Whiteleys, Queensway R 13 Marks & Spencer 19 202 25 Planet Organic MAIDA VALE K CIRC L “Just over half a mile from B 6 Notting Hill Gate Estate R 26 BoConcept O LE A A N 7 Newcombe House D Y ENUE S Paddington Station, a major T AV R R GIN ET EL London transport hub” REGENT’S PARK WA ED RW T GW O ICK T ARE RO T E NH HARR AV A OW AD M ENUE WARWICK MARYLEBONE GREAT R OA AVENUE PORTLAND BAKER STREET ET D E CO STREET TR S U E R PL T A M EDG WARE D ROA R LADBROKE GR LITTLE E OA ROAD BO N LE M RY D A40 VENICE MA A 12 Mins GOODGE WE T R Y ST WAY REE WESTBOURNE ST Y STREET L WA RD PARK FO E T 10 Mins AW B CR ES ROYAL OAK MARYLEBONE ON W OV G 8 9 10 11 12 E L O H E 13 B UC I A G CH E K H 1 T D E E E G S S E D R W T RE T P OA A E R S R S ST RE R T 20 Mins E TO S N R RIDGE E B R E PADDINGTON T W RO ’S DE O R E PRAED A P A T LADBROKE D L P BISHOP G AC OR GROVE EX ET OXFORD AD RE ST E TO 3 SS GE CIRCUS 2 U R 26 S EO B G 25 24 E L E OV L E GR RN O R STBOU QU 23 E RO 16 17 WE 22 15 21 G E INVERNES 14 5 E AD 4 EN NT 20 BAYSWATER SW 19 18 S AY BOND STREET T R S E MARBLE E NOTTING HILL T P T ERRA ARCH A D OA R T ER R REE YSWAT K ST BA OK L O CE BR 9 Mins A N BAYSWATER E ET LANCASTER RE ST OR GATE EN WE OSV S GR T C 11 Mins A QUEENSWAY R NOTTING HILL GATE HYDE PARK RI MAYFAIR A GE 7 LY IL 6 D D HOLLAND R CA IC I P PARK VE 14 15 Grove House Paddington Station is undergoing Paddington, lying half a mile to the east, has been established as one of Central London’s most important office, residential the most significant transformation since and leisure hubs attracting a significant number of it was first built in the 1800s. One of London’s international companies who choose it as their headquarters. gateway stations, the Grade I listed building Centred around its transport hub, Paddington has undergone significant regeneration T with over £5 billion of investment to will be one of the first new Crossrail central date. Major corporate tenants currently include Kingfisher, stations to open in 2018. Misys, Statoil, Vodafone, Visa and Marks & Spencer. Crossrail STRATFORDSROMFORD HENFIELD STANSTED 19 37 51 HAYES & EALING TOTTENHAM LIVERPOOL HARLINGTON BROADWAY PADDINGTON COURT ROAD STREET 36 16 9 7 6 3 4 8 10 13 CUSTOM HOUSE ABBEY WOOD MAIDENHEAD 30 WEST ACTON BOND FARRINGDON WHITECHAPEL EALING MAIN LINE STREET 17 20 25 29 LUTON HEATHROW GATWICK AIRPORT CANARY WOOLWICH WHARF Heathrow Express: Paddington to Heathrow Journey Time - 15 minutes Great Western Railway Destination Journey time (minutes) Reading 24 Oxford 56 Bath (Spa) 86 Bristol (Temple Meads) 99 Cardiff 120 Penzance 305 16 17 Grove House Description Previously known as ‘The Roxy’, Grove House was used as a cinema until the mid 1960s and currently comprises a prominent mixed use building totalling 11,636 sq ft (1,080.9 sq m) NIA arranged as a prime retail unit over ground and first floors with offices over second to fourth floors.
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