147-149 Kensington High Street London W8 An exceptional residential investment opportunity located in the heart of Kensington 147-149 Kensington High Street, London W8 INVESTMENT SUMMARY A recently developed investment property located in the heart of Kensington — House in Multiple Occupancy (sui generis) — Five upper floors currently arranged as 29 self-contained studios — Total floor area 885.2 sq m (9,528 sq ft) including communal parts — Developed to a high specification — ERV when fully let approximately £565,000 per annum — Ground floor and basement commercial space sold off on long leases — Upper parts offered with vacant possession — Freehold Studios 29 Total Floor Area (sq m / sq ft) 885.2 sq m / 9,528 sq ft Average studio size 20.2 sq m / 217 sq ft ERV (pa) £565,000 Tenure Freehold 147 149 147-149 Kensington High Street, London W8 LOCATION The property is located on the southern side of Kensington High Street (A315) between Kensington is one of the most affluent areas in London and is bordered by Holland Adam and Eve Mews and Wrights Lane and opposite Campden Hill Road. Park to the west, Notting Hill to the north, Chelsea to the south and Knightsbridge to the east. Kensington High Street is the principal route between Hammersmith to the west and Knightsbridge and Mayfair to the east. It is one of London’s world renowned shopping streets providing an extensive range of high end and high street retail with numerous restaurants serving the local residents and tourists. 147-149 Kensington High Street, London W8 e e 7 2 to to 123d 1 122 4 Horn 124 PHILLIMORE WALK PHILLIMORE 5 126 12 14 8 5 12 130 3a 2 3 132 to 136 1 Latimer Road 138 129 13 Lancaster Bank 1 Bayswater 14 to 33 133 5 a 13 7 13 Gate 12 142 140 LOCATION 139 144 2 1 to 12 146 148 145 Phillimore Cour Phillimore West 9 14 153 W 153 End t to to 5 5 15 The London Borough of Kensington & 15 151 150 to 158 151 5 5 Queensway Chelsea is located immediately to the west Cro e 3 16 P 28 to 44 a n 5 of the City of Westminster. The Borough 16 7 16 45 to 61 r a 1 to 27 to 1 169 ss k IVERNA COUR IVERNA 3 L 17 Notting L hosts a number of tourist attractions and 78 177 R 62 to a d 17 5 T 181 Hill Gate n 9 17 o 183 1 landmarks, including Kensington High o e u K o 3 Kensington 1 t WR en Hyde Park Street, Notting Hill Gate, Portobello Road 79 to 95 e C W 6 840 8 m E Gardens s 7 y D a 7 Holland Park l and major museums. 2 i l © Crown Copyright 2012. All rights reserved. Licence Number 100047514 Scale 1:838 m n i Date 17/06/13 d Westfield p g ca t c Communications in the immediate area d o i e n P n are excellent with the subject property C H hu r being just 100m to the west of High i c l l h Shepherd’s Street Kensington Tube Station (Circle and R S Bush o t Const Ho itution District Line) and 0.7 miles to Notting Hill a Hill lla d Road Gate Tube Station (Central Line). There Kensington d n a d d High Street o are a number of bus routes running along E a R Kensington Imperial R W x o o r n Kensington High Street, which provide h a ig College o R h i d ts b pt excellent connectivity to the immediate L h a n i m t s e t o e i and wider area. Further afield, the M4 is u o r e B B r n 4.1 miles to the west providing links to t s ’ S 147-149 R d Greater London and the national motorway o e r a e Kensington n q d network, via the M25. h a S p (Olympia) o n e l to h S a Holland Park, Kensington Gardens and S oad E omwell R Hyde Park are all a short walk from the Cr South property providing convenient access to Gloucester Kensington green open space. Road 147-149 Kensington High Street, London W8 147-149 Kensington High St DESCRIPTION The property comprises two attractive, adjoining and interlinking red brick Edwardian The upper floors are accessed via a secure gated passageway to the rear of the terraced buildings arranged over basement, ground and five upper floors. property accessed from Wright’s Lane. There is a single communal entrance with a speaker entry system for visitor access and a prominent CCTV monitoring system There are two retail units occupying the ground floor and basement which have been for security. sold off on long leases. 147-149 Kensington High Street, London W8 ACCOMMODATION Internally, the upper floors have been fully re-developed and provide 29 studio The living / sleeping areas have engineered wood flooring and the buildings are apartments. The studios, are all self contained and presented to an extremely high installed with wifi and satellite television. Each studio is individually metered for specification in keeping with the requirements of occupiers in this location. electricity with a communal gas fired hot water / heating system. There is an attractive, bright and spacious entrance hall and central stairwell which 28 of the 29 studios have shower rooms, one studio has a bath. Bath /shower interlinks the two buildings and leads to the upper floors. rooms have quality fittings and attractive dark tiled floors and walls. The kitchens benefit from an integrated hob and cooker, free standing fridge with freezer compartment, granite work tops and eye & base level storage cupboards. 147-149 Kensington High Street, London W8 SCHEDULE OF AREAS Schedule of Areas (NIA’s) Schedule of GIA’s Schedule of Accommodation Flat No Area (sq m) Area (sq ft) Floor Area (sq m) Area (sq ft) 1 21.0 226 1 185.9 2,002 2 22.5 243 2 182.0 1,959 3 18.9 203 3 181.4 1,953 4 17.5 189 4 178.8 1,925 5 16.1 174 5 156.9 1,689 6 19.5 210 885.2 9,528 7 28.9 312 8 20.2 218 9 18.9 204 10 17.4 188 11 15.9 171 12 24.9 268 13 19.9 215 14 22.2 240 15 18.3 197 16 17.0 184 17 14.7 159 18 25.8 278 19 31.0 334 20 20.8 224 21 15.5 167 22 17.1 184 23 14.2 154 24 24.5 265 25 22.7 245 26 21.6 233 27 23.5 254 28 16.9 182 29 17.0 184 585.6 6,304 147-149 Kensington High Street, London W8 Ground Floor First Floor Second Floor PLANNING The property is located in the Royal Borough of Kensington and The 29 units are located at 147-149 Kensington High Street and a minor internal reconfiguration within no.149 and which was Chelsea(RBKC) and the Edwards Square, Scarsdale and Abingdon the 4 self contained units (accessed separately) are located at approved in October 2012 (ref. NMA/12/03857). Conservation Area. The buildings are not listed. 145 Kensington High Street. The permission was subject to a The completed development also incorporates a ‘minor material S106 Agreement and the obligations of his agreement have been amendment’ to the July 2012 planning permission, which involved Planning permission (PP/12/00315) was granted on 26/07/2012 discharged by the Vendor as part of their implementation of the reconfiguring the approved floor space at 5th floor level in order for “Erection of a roof extension and refurbishment of existing planning permission. accommodation on 1st-4th floors to provide a house-in-multiple- to provide an additional bedroom within no.145, and relocating 2 occupation (29 units) and 4 self-contained residential units”. A non-material amendment to the July 2012 planning permission HMO units within nos.147-149. This was approved in November has been incorporated into the completed scheme, which involved 2013 (ref. PP/13/04985). 147-149 Kensington High Street, London W8 KITCHEN AREA KITCHEN AREA BATHROOM LIVING AREA LIVING AREA BATHROOM UNIT FIRE ESCAPE ACCESS 28 CORRIDOR UNIT 29 TO EXISTING INTERNAL ROOFTOP LIGHT WELL 18 FIRE 17 BATHROOM ESCAPE 16 MAINTAINED 15 14 13 12 PLANT KITCHEN ROOM 11 AREA 1 2 3 4 5 6 7 8 9 10 UNIT 27 UNIT 26 UNIT 25 BATHROOM LIVING AREA BATHROOM KITCHEN AREA LIVING AREA LIVING AREA KITCHEN AREA Third Floor Fourth Floor Fifth Floor PLANNING The property is located in the Royal Borough of Kensington and The 29 units are located at 147-149 Kensington High Street and Chelsea(RBKC) and the Edwards Square, Scarsdale and Abingdon a minor internal reconfiguration within no.149 and which was the 4 self contained units (accessed separately) are located at Conservation Area. The buildings are not listed. approved in October 2012 (ref. NMA/12/03857). 145 Kensington High Street. The permission was subject to a S106 Agreement and the obligations of his agreement have been The completed development also incorporates a ‘minor material Planning permission (PP/12/00315) was granted on 26/07/2012 discharges by the Vendor and part of their implementation of the amendment’ to the July 2012 planning permission, which involved for “Erection of a roof extension and refurbishment of existing planning permission.