• Freehold

• Attractive Victorian corner block comprising restaurant accommodation at ground and basement levels with residential accommodation on the upper floors

• Totalling 4,334 sq ft, split 1,939 sq ft NSA on the residential element and 2,395 sq ft NIA on the restaurant accommodation

• Located in prime position close to Paddington Station

• Restaurant space let to Nando’s Chickenland Ltd at an initial rent of £150,000 per annum for a period of 20 years without break

• The lease is subject to RPI linked rent reviews with a collar and cap of 1.5% & 3.5%

• The residential uppers comprise 4x1 bed apartments at 1st and 2nd floors currently let on a flexible basis producing a net rent of c.£144,000 per annum, to be sold with vacant possession

• Current total passing rent of circa £294,000 per annum

Vendors are seeking offers of £4,400,000 exclusive of VAT and subject to contract, which reflects a net initial yield of 5.50% on the restaurant, £950 psf on the residential and a blended net initial yield of 6.25% assuming purchaser’s costs of 6.80%