PRIME PUB INVESTMENT IN NOTTING HILL The Westbourne, 101 Westbourne Park Villas, London W2 INVESTMENT SUMMARY Renowned prime gastropub investment. Prominently located at the junction of Westbourne Park Villas and Westbourne Park Road, Notting Hill. Attractive period building. Ground floor and basement approximately 2,495 sq ft (231.7 sq m). Front terrace approximately 673 sq ft (62.5 sq m). Virtual freehold. Let for a further 39 years. Rent review 4 yearly. Next review in July 2022. Total current passing rent of £120,150 p.a. Offers in excess of £3,000,000 reflecting a net initial yield of 3.75% after deducting standard purchaser’s costs of 6.72%. St. John's NOTTING HILL Wood Eversholt Street LORD'S GRAND UNION CANAL Maida CRICKET REGENT'S Notting Hill is internationally recognised Vale GROUND PARK as one of London’s most traditional, affluent and fashionable addresses Warwick Euston boasting a mix of high class boutique Westbourne Avenue Goswell Rd Park Regent’s Marylebone THE Park Gray’s Inn Road King’s Cross Rd fashion retailers, organic food Ladbroke Westway WESTBOURNE Westway Avenue Grove Marylebone Road shops, galleries, cafés and pubs. It is Royal Oak Westbourne Grv host to Notting Hill Carnival, Europe’s Westbourne Park Rd Edgware Road largest street festival and home to e NOTTING HILL PADDINGTON MARYLEBONE rov Portobello marketsWHITE o CITYne of the City’s most y WHITELEYS Regent Street OXFORD Sussex Gardens Bond popular tourist destinations. Located Street CIRCUS Notting Hill Lancaster Marble Kingswa WESTFIELD G Ladbroke Gate Gate Arch in the London Borough ofSHOPPING Kensington Bayswater Road Oxford Street High Holborn CENTRE Uxbridge Road COVENT and Chelsea it is an attractive and SOHO Holland Park Avenue GARDEN Strand highly desirable area of West London Park Lane SHEPHERD’S HOLLAND St MAYFAIR approximately 1.5BUSH miles of the West End. PARK HYDE Goldhawk Road PARK Stamford St The Westbourne is prominently situated Piccadilly at the junction of Westbourne Park Road The Mall Kensington Church Kensington and Westbourne Park Villas and across Kensington Road SOUTHBANK HAMMERSMITH ST. JAMES’S KNIGHTSBRIDGE Knightsbridge Hyde Park PARK the road from Tom Conran’s renowned Corner gastropub The Cow. Local retail and Hammersmith Road Brompton Road Birdcage Walk Westminster Bridge Road BELGRAVIA Road Blackfriars restaurant occupiers include Max Mara, Holland Road Scotch & Soda, Zadig & Voltaire, Heidi Talgarth Road Cromwell Road WESTMINSTER Sloane Street Victoria Klein, Aesop, Joseph Smythson, Orlebar CHELSEA Millbank Brown, Bonpoint, LK Bennett, Whistles, Vauxhall Bridge Road The Oak pub and Tom Conran’s Crazy KENSINGTON Road Lambeth Palace Homies and Lucky 7. FULHAM PIMLICO Fulham Road King’s Road Putney High Street Fulham Palace Road Chelsea Embankment Battersea Bridge Road PUTNEY BATTERSEA Kennington Park Road PARK Nine Elms Lane Chelsea Bridge Road New King’s Road Battersea Park Road CLAPHAM BATTERSEA COMMUNICATIONS TRAVEL TIMES The Westbourne is easily accessed by both bus and underground. Westbourne UNDERGROUND HEATHROW AIRPORT 55 Park, Royal Oak, Ladbroke Grove HEATHROW EXPRESS 27 (Hammersmith & City lines) and Bayswater (District & Circle Lines) underground stations are all within close proximity. Paddington railway station is PRE CROSSRAIL FARRINGDON 25 also located nearby, providing access to POST CROSSRAIL 2018 13 mainline trains and the Heathrow Express. PRE CROSSRAIL BOND ST 23 POST CROSSRAIL 2018 11 In 2020 Paddington station, will become one of Crossrail’s major interchanges. PRE CROSSRAIL CANARY WHARF 35 The service will provide a new high speed POST CROSSRAIL 21 2018 rail link from Maidenhead and Heathrow Airport in the west through Central Times indicative of travel from the property, courtesy of TfL. London and to Abbey Wood in the east. Crossrail is forecast to bring 1.75 million additional people within 60 minutes reach of London’s key business districts carrying more than 200 million passengers a year. DESCRIPTION Comprising an attractive period building, arranged over basement, ground and two upper floors. The ground and basement floors provide A3 accommodation operating as a gastropub. There is a separately accessed residential flat arranged over first and second floors sold off on a long lease. TENANCIES Floor Tenant Area Area Lease Lease Rent Rent Rent Comment (Sq Ft) (Sq M) Start Expiry Review (pa) (psf) Ground Sebastian Boyle and 2,495 231.7 06/07/1994 05/07/2059 06/07/2022 £120,000 £48.09 & Basement Oliver Daniaud t/a The Westbourne First & Second Residential 12/04/1994 11/04/2119 £150 Sold Off. Total £120,150 COVENANT INFORMTION The Westbourne is an independently owned gastropub serving traditional pub food using ingredients from local suppliers. It also serves traditional bar snacks and daily tapas. Available beverages include traditional ales, lagers, Belgium beers, wines and cocktails as well as a collection of non-alcoholic alternatives. For further information, please visit: http:// www.thewestbourne.com/ FLOOR PLANS GROUND FLOOR GROUND FLOOR BASEMENT Net Internal Area Sq M Sq Ft Public House 105.11 1,131 Storage Storage 5.44 59 Total 110.55 1,190 Kitchen External Down 7.43 sq m Storage External Area 62.53 673 80 sq ft Storage Up Gross Internal Area Total 118.05 1,271 Chiller Circulation Office Staff Storage Storage BASEMENT Public House WC Net Internal Area Sq M Sq Ft Public House 23.32 251 Storage 68.40 736 Storage Total 91.72 987 Storage External Area 7.43 80 Gross Internal Area Front Entrance Total 113.69 1,224 WESTBOURNE PARK VILLAS External Seating Area 62.53 sq m 673 sq ft Indicative floor plans, not to scale. WESTBOURNE PARK VILLAS FB Subway Junction Tunnel TENURE 103 VAT 8 1 to ouse rro H Virtual Freehold. Polpe The property is not VAT elected. THE 99 93 89 WESTBOURNE 79to87 1 to12 MoulsfordHouse PROPOSAL MARKET WESTBOURNE PARK VILLAS COMMENTARY 89 94 Offers in excess of £3,000,000 reflecting a PH 112 88 81 Leisure investment in the UK continues to 86 net initial yield of 3.75% after 80to84 establish itself as a mainstream sector, with StStepmhearny'sSCchoofoE 78 deducting standard purchaser’s costs of Pril transaction volumes (including pubs, WESTBOURNE PARK ROAD 6.72%. 104 restaurants, bars, leisure parks, bingo/ 12 bowling outlets, health and fitness and 11 FURTHER 8 69 hotels). The pub market has continued its 7 30 96 ST STEPHEN’S MEWS INFORMATION strong and resilient performance throughout 6 5 4 3 Club For further information or to arrange an 2019 despite the uncertainties around the 2 general election, bucking the trend of many 2 inspection, please contact: consumer-led markets. 10 88 Mark Shipman 18 Direct Line: 020 7529 5708 This has continued in 2020, following an 26 Email: [email protected] increase in consumer and investment ST STEPHEN’S GARDENS 82 34 confidence. Like most property sectors, 1to7 Harry Cox 9 T heightened investment demand has been led 10 N E Direct Line: 020 7529 5703 C S predominately by UK institutions, UK 17 E R Email: [email protected] C S REIT’s, private buyers and UK property ’ N 27 Bayswater E H companies both in the UK and overseas. Court P E T S St Stephen's Church T S The craft beer revolution has had a positive 5 Not to scale.1 For indicative purposes only 0 impact on the pub industry in recent years. 0 The rapid growth of microbrewers has Address Date Tenure Price NIY Capital created in excess of 2,000 breweries in Value operation in the UK today. Craft beer Rutland Arms, 15 Q4 2019 FH £7.80m 3.91% £1,100 retailers are now taking occupation of smaller Lower Mall W6 Misrepresentations Act 1967 & Declaration: Michael Elliott for pubs previously overlooked by themselves and for the vendors of this property whose agents FH £1.82m 3.48% £1,117 they are given notice that: a) the particulars are set out as general entrepreneurial operators. The Alma, 59 Newington Q4 2019 outline only for the guidance of intending purchasers and do Green Road N1 not constitute, nor constitute part of, an offer or contract; b) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in The Londesborough, Q3 2019 FH £1.65m 4.00% £553 good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of Stoke Newington N16 fact but should satisfy themselves by inspection or otherwise as to the EPC correctness of each of them; c) no person in the employment of Colton Arms, 187 Q3 2019 FH £1.66m 3.38% £915 Michael Elliott has any authority to make or give any representations or EPC available on request. Greyhound Road W14 warranty whatever in relation to this property. March 2020..