sign in sign up
<<
Home , Kensington High Street, Kensington Road, Knightsbridge, London, Mayfair, Portobello Road

147-149 High W8

An exceptional residential investment opportunity located in the of Kensington 147-149 Kensington , 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 , 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 and Wrights Lane and opposite Road. Park to the west, to the north, Chelsea to the south and to the east. Kensington High Street is the principal route between to the west and Knightsbridge and to the east. It is one of London’s world renowned 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

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 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 of . The Borough 16

7

16 45 to 61 r

1 to 27 to 1

169 ss k

IVERNA COUR IVERNA 3

L a 17 Notting L

hosts of tourist attractions and 78

177 R 62 to a

d 17 5

T

181 Hill Gate n

9 17 o 183 1 , including Kensington High o e u K o

3 Kensington 1 t WR en Hyde Park

Street, , Road 79 to 95

e C

W 6

840 8 m E Gardens s 7 y D a

7 l and major . 2 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 R Street Kensington Tube Station (Circle and S C t o Bush Ho o nstitution ) and 0.7 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 and the national motorway o e r

a e Kensington n q d network, via the M25. h a S

p () o n e l to

h S a Holland Park, 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 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 . 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 / 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 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 (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 KITCHEN AREA AREA

BATHROOM LIVING AREA LIVING AREA BATHROOM

ACCESS UNIT FIRE ESCAPE UNIT 28 CORRIDOR TO 29 EXISTING ROOFTOP INTERNAL FIRE LIGHT WELL 18 17 ESCAPE 16 BATHROOM MAINTAINED 15 14 13 12 KITCHEN PLANT 11 AREA ROOM 1 2 3 4 5 6 7 8 9 10

UNIT UNIT 26 27 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 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 discharges by the Vendor and 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

OCCUPIER DEMAND UNIVERSITIES

There continues to be huge demand for rental property in London and there is With a total of 41 universities, London forms the largest concentration of higher currently a limited supply of high quality studio accommodation to meet this education across the whole of . The city is home to four of ’s demand, particularly in the core. leading institutions according to the 2012/2013 QS World University Ranking; London (4th), (5th), King’s College Due to its central location and high quality finish, the accommodation is likely to London (19th) and the London School of Economics and Political (68th). appeal to a broad tenant and occupier demographic including newcomers to the who are either studying or newly employed. The capital has experienced significant growth in student numbers over the past 10 years recording a full time student population growth rate of 34% Kensington High Street is a recognised address across the globe. It is close (HESA – based on available data) during this period. Over the same period, the to the commercial centres of London and within easy distance of a range of international student population has increased by 61%. cultural attractions, nightlife destinations and venues.

London is the largest in the European Union and in demographic terms its population rate increased from 7,172,091 to 8,173,900 between 2001 and 2011; an increase of 14%. 147-149 Kensington High Street, London W8

PROPOSAL

TENURE METHOD OF SALE

The properties are held under 2 freehold titles and subject to 2 long leases on property is offered as a single lot by way of private treaty, subject to contract. commercial parts (147 Kensington High Street – 2,000 year term, 149 Kensington Should a deadline be set for offers, all interested parties will be notified at the ap- High Street – 999 year term) at peppercorn rents. propriate time.

The upper parts of the property are offered with vacant possession. FURTHER INFORMATION

VAT A full set of background information including EPCs is available via the data room via the link below. We understand the properties are not elected for VAT. 147-149 Kensington High Street, London W8

CONTACT

For further information or to arrange a viewing please contact The Vendors joint selling agents and LEVY:

James Laverack Matt Sharman Tel: +44 (0)20 7016 3770 Tel: +44 (0)20 7747 0110 Email: Email:

Luke Hawkesbury Leighton Tel: +44 (0)20 7409 9942 Tel: +44 (0)20 7747 0126 Email: Email:

MISREPRESENTATION ACT 1967 – LEVY REAL ESTATE LLP AND SAVILLS for themselves and for the Vendors or Lessors of this property whose agents they are give notice that: all descriptions, dimensions, reference to condition and necessary permissions for use and occupation and other details are unless otherwise stated indicative only. Any intending purchasers or tenants should not rely on them as statements or representations of fact or as warranties but must satisfy themselves by inspection or otherwise as to the correctness of each of them. Any services mentioned have not been tested and therefore prospective occupiers should satisfy themselves as to their operation. These particulars are produced in faith and set out a general guide only and do not constitute part of any offer or contract. No person in the employment of Levy Real Estate LLP and Savills has any authority to make or give representation or warranty in relation to this property. All prices and rents are quoted exclusive of VAT unless otherwise stated. Designed by i-brochure.com. @i-brochure.com. March 2014.