Prime Central London Residential Investment …pdf.savills.com/documents/Clanricarde Gardens Brochure...Prime Central London Residential Investment Opportunity Chanricarde Gardens

Chanricarde Gardens, Notting Hill, London Prime Central London Residential Investment Opportunity

Prime Central London Residential Investment Opportunity

Clanricarde GardensNotting Hill

London W2 4JN

3537

&

Chanricarde Gardens, Notting Hill, London Chanricarde Gardens, Notting Hill, London Prime Central London Residential Investment Opportunity Prime Central London Residential Investment Opportunity

Location & Transport The property is located in Notting Hill, within the Royal

Borough of Kensington and Chelsea. Notting Hill is a

fashionable area of prime central London. There is a range

of shopping amenities available on Notting Hill itself, along

with fashionable boutiques, exclusive bars and eateries in the

immediate surrounding area. The world famous Portobello

Road is immediately to the west whilst Kensington Gardens

are approximately 150 metres to the east.

Clanricarde Gardens is a cul de sac road which runs north off

Notting Hill. The subject property is situated on the north east

side of the road.

Notting Hill London Underground station (Travel Zone 1,

District, Circle and Central Lines) is situated approximately 500

metres to the west providing easy access to the West End.

Journey times to Oxford Circus are approximately 8 minutes

and approximately 17 minutes to Bank Station in the City. The

Central Line also links with the Piccadilly Line giving access

to Heathrow Airport. The Queensway London Underground

station (Central Line) is situated approximately

0.4 miles (650 metres) to the east.

An attractive pair of adjoining, period terraced buildings

configured to provide 14 apartments

Let on a full repairing lease to the Russian Federation for

a term certain of 14.5 years at a current rent of £335,000

per annum

Attractive annual rent reviews linked to the Retail Price

Index (RPI)

Overall gross internal area of 949 sq m / 10,214 sq ft

(including common parts)

Located in Notting Hill, within the Royal Borough of

Kensington and Chelsea, close to Notting Hill Underground

Station (Travel Zone 1, Central, Circle

and District lines)

The property is occupied by employees of the

Russian Embassy

Various future asset management options

Executive Summary

“An opportunity to own a pair of freehold properties in Notting Hill, benefiting from a full repairing lease with a 14.5 year unexpired term”

Summary

Units 14 apartments

Gross internal Area (Sq m / sq ft)

949 sq m / 10,214 sq ft (including common parts)

Passing Rent (pa) £335,000

Tenure Freehold

T

HE

T

HA

ME

S

HarveyNichols

NaturalHistory

Museum

RoyalAlbert

Hall

V&AMuseum

WestfieldLondon

KensingtonPalace

OLD BO

ND ST

EDGWARE ROAD PARK LANE

GROSVENOR PL VA

UXHALL BRIDGE RD

H

OLLAND PARK AVE

BAYSWATER RD

BAYSWATER RD

OXFORD ST

OXFORD ST

KENSIN

GTO

N C

H

U RCH ST

LADBRO

KE GROVE

KENSINGTON PARK RD

WESTBOURNE PARK RD

CHAPSTO

W RD

WESTBOURNE GROVE

KENSINGTON HIGH STREET

KENSINGTO N RD

CROMWELL RD A4

B

ROMPTON RD

WARW

ICK GRDN S

REDCLIFFE GRDNS

GLOU

CESTER RD

FULHAM RD

A308

A

3217

KING’S RD

SLOAN

E ST CHELSEA BRIDGE RD

CHELSEA EMBANKMENT GROSVENOR RD A3212 MILLBANK

BEAUCH AMP PL PONT ST

ECCLESTON ST BELG�VE RD

P

ICCADILLY

VICTORIA ST

BUCKINGHAM GATE

MARSH

AM ST

ALBER

T EM

BAN

KMEN

T

LAM

BETH

PAL

ACE R

D

VIC

TORI

A EM

BAN

KMEN

T

PALL MALL

WHITEH

ALL

KING

SWAY C

HARIN

G CRO

SS RD

REGEN

T ST

WIGMORE ST

NEW BO

ND ST

BRUTON ST

ST�ND

EXH

IBIT

ION

RD

BROOK ST

GROSVENOR ST

MOUNT ST

WARWICK RD

WAR WICK WAY HAMMERSMITH FLYOVER A315

H

AMM

ERSMIT

H BRIDGE

FULH

A M PALACE ROAD

GOLDHAWK ROAD

A402

UXBRIDGE ROAD A4020

WO

OD

LANE A219 SH

EPHERD

’S BUSH

ROAD A219

WESTWAY A40

PORTO

BELLO ROAD

KENSIN

GTO

N PALACE G

ARDEN

S

HOLLANDPARK

HYDEPARK

KENSINGTONGARDENS

GREENPARK

BERKELEYSQUARE

MAYFAIRST JAMES’S

CHELSEA

NO�INGHILL

BAYSWATER

KENSINGTON

WHITECITY

SOHO

COVENTGARDEN

PICCADILLYCIRCUS

OXFORDCIRCUS

BONDSTREET

MARBLEARCH

LANCASTERGATE

PADDINGTON

QUEENSWAY

NO�INGHILL GATEHOLLAND

PARK

SHEPHERD’SBUSH

KENSINGTONOLYMPIA

GOLDHAWKROAD

HAMMERSMITH

LATIMERROAD

WHITECITY

WOODLANE

SHEPHERD’SBUSH MARKET

HIGH STREETKENSINGTON

EARL’SCOURTWEST

KENSINGTON

WESTBROMPTON

GLOUCESTERROAD SOUTH

KENSINGTON

KNIGHTSBRIDGE

SLOANESQUARE

VICTORIA

PIMLICO

HYDEPARK

CORNER

GREENPARK

ST JAMES’SPARK

LEICESTERSQUARE

CHARINGCROSS

EMBANKMENT

TO�ENHAMCOURT ROAD

WESTMINSTER

KNIGHTSBRIDGE

ST JAMES’SPARK

Harrods

One Hyde Park

�e Ritz

Selfridges

The Lanesborough

BELG�VIA

3537

&

Regent’sPark

WarrenStreet

Farringdon

Barbican

High StreetKensington

Green Park

BakerStreet

NottingHill Gate

Holland Park

Victoria

SloaneSquare

OxfordCircus

BondStreet

Westminster

PiccadillyCircus

CharingCross

Holborn

LeicesterSquare

London Bridge

Knightsbridge

SouthKensington

Marylebone

TottenhamCourt Road

Earl’sCourt

LiverpoolStreet

Bank

Paddington Euston

King’s CrossSt. Pancras

Edgware Road

Embankment

Waterloo

Crossrail (from 2018)

Queensway

GreatPortlandStreet

GoodgeStreet

Approximate ownership outline Not to scale. For illustrative purposes only

Portabello Market

Red line is approximate and for illustrative purposes only


The City Docklands SerpentineNotting Hill

Hyde ParkThe West EndWestbourne

Grove

3537

&


Description

The property comprises two adjoining stucco fronted terraced

period town houses. The building is of solid brick construction,

with a white stucco front elevation up to the first floor and

painted stucco detailing around the fenestration.

The property provides 14 self-contained apartments (2 x

studios, 8 x one beds and 4 x two beds), arranged over

the lower ground, ground and four upper floors.

The lower ground floor apartments benefit from their own

private entrance and the apartments on the first floor benefit

from balconies. Internally, the property is in good condition.

Planning Planning consent was granted in 1994 by the Royal Borough

of Kensington and Chelsea council permitting ‘change of use

from hotel to conversion into 14 self-contained residential

units with external alterations at rear basement and ground

floor levels.’ (TP/94/1775).

Floor PlansBS

25.0mLetter Box

CLAN

RIC

ARD

E GAR

DEN

S

CLOSE

MOSCOW ROAD

OSS

ING

TON

VICTO

RIA G

RO

VE MEW

S

LIND

EN G

ARD

ENS

39

2

The Limes

89

51

Nurses' Home

PH

87

14

38b

18

38

55

36b

40

1

1 to 33

38

51

34d

27

99

36a

1713

11

34b

95

34c

34a

34e

36c

50

26

14

42

PembridgeHall School

LB

PALACE C

OU

RTOSSIN

GTO

N STR

EET

CH

APEL S

IDE

20

76

19

9

31

2a

41

27

44

51

41

8

8

7

15

2623

3

40

22

2

12

29

1310

1411

26

10

16

19

26

Saxon Hall

18

46

1 to 26

0m 10m 20m 30m

0.059 Acres (0.024 Hectares) 2,579 sq ft

35 and 37 Clanricarde Gardens

Ordnance Survey © Crown Copyright 2015. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250

Floor Plans Overall gross internal area of 949 sq m / 10,214 sq ft (including common parts).

ReceptionRoom

19' x 14'9''5.79 x 4.50m

Kitchen9'3'' x 6'3''

2.82 x 1.90m

MeterCupboard9' x 6'3''

2.74 x 1.90m

MeterCupboard9'3'' x 6'3''

2.82 x 1.90m


2.82 x 1.90m

1 2

ReceptionRoom

19' x 14'9''5.79 x 4.50m

Bedroom10'9'' x 10'6''3.28 x 3.20m

Bedroom13'9'' x 11'9''4.19 x 3.58m

Bedroom10'9'' x 10'6''3.28 x 3.20m

Bedroom13'9'' x 11'9''4.19 x 3.58m

C

Sunnyhill House3-7 Sunnyhill RoadLondon, SW16 2UG

Tel: 0845 257 2023Fax: 0845 257 [email protected]

35-37CLANRICARDE GARDENSLONDONW2

Plans Drawn: 10.06.2015

SCALE

BKR 2015

Surveyed and Drawn By:

LOWER GROUND FLOOR

Property Details:

1:100 @ A4

B K R

APPROX. GROSS INTERNAL AREA *10214 Ft ² - 948.88 M ²

(Taken From Supplied Architects Plans and Without Access to the Apartments)

ReceptionRoom

19' x 13'3''5.79 x 4.04m


2.21 x 2.21m

Bedroom15' x 11'3''

4.57 x 3.43m

ReceptionRoom

19' x 13'3''5.79 x 4.04m

Kitchen7'3'' x 7'

2.21 x 2.13m

Bedroom12'9'' x 9'6''

3.89 x 2.90m

Bedroom13'3'' x 10'9''4.04 x 3.28m

7

8

FIRST FLOOR

C





SCALE

BKR 2015

Surveyed and Drawn By:Property Details:

1:100 @ A4

B K R



ReceptionRoom

13'9'' x 11'4.19 x 3.35m

Kitchen10'9'' x 4'6''

3.28 x 1.37m

Bedroom10'9'' x 8'9''

3.28 x 2.67m


1.98 x 1.68m

ReceptionRoom

13'6'' x 11'9''4.11 x 3.58m

ReceptionRoom

14' x 11'4.27 x 3.35m

Kitchen10'9'' x 4'6''

3.28 x 1.37m

Bedroom10'9'' x 8'9''

3.28 x 2.67m

Kitchen8'9'' x 6'

2.67 x 1.83m

ReceptionRoom

13'6'' x 11'9''4.11 x 3.58m

3

4

5

6

GROUND FLOOR

C





SCALE

BKR 2015


1:100 @ A4

B K R



12'9'' x 10'9''3.89 x 3.28m

7'9'' x 6'9''2.36 x 2.06m

ReceptionRoom

19' x 15'9''5.79 x 4.80m

ReceptionRoom

19' x 16'9''5.79 x 5.11m

Bedroom13'9'' x 9'6''

4.19 x 2.90m


2.21 x 1.98m

Bedroom14'6'' x 8'3''

4.42 x 2.51m

10

9

SECOND FLOOR

C





SCALE

BKR 2015


1:100 @ A4

B K R



Bedroom12' x 9'9''

3.66 x 2.97m

Bedroom11'6'' x 9'9''

3.51 x 2.97m

MEZZANINE

C





SCALE

BKR 2015


1:100 @ A4

B K R



Bedroom10'9'' x 9'9''

3.28 x 2.97mReception

Room/Kitchenette20' x 10'9''

6.10 x 3.28m

Bedroom11'3'' x 9'

3.43 x 2.74m

Studio/Kitchenette19'3'' x 15'6''5.87 x 4.72m

Studio/Kitchenette19' x 11'6''

5.79 x 3.51m

ReceptionRoom/

Kitchenette14'3'' x 9'3''

4.34 x 2.82m

12

11

13

14

THIRD FLOOR

C





SCALE

BKR 2015


1:100 @ A4

B K R


(Taken From Supplied Architects Plans and Without Access to the Apartments)Reception

Room/Kitchenette16' x 9'9''

4.88 x 2.97m

Bedroom10'6'' x 9'3''

3.20 x 2.82m

Studio/Kitchenette19'6'' x 14'6''5.94 x 4.42m

Studio/Kitchenette19' x 10'9''

5.79 x 3.28m

Bedroom9'6'' x 9'

2.90 x 2.74m

ReceptionRoom/

Kitchenette18' x 10'9''

5.49 x 3.28m

16

15

18

19

FOURTH FLOOR

C





SCALE

BKR 2015


1:100 @ A4

B K R



Lower Ground Floor

First Floor

Ground Floor

Second Floor

Mezzanine

Third Floor

Fourth Floor

The floorplans have been provided by BKR Floorplanners. Please note that access to all the flats was not possible and the floorplans have been scaled from the historic floorplans provided by the tenant.

NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100024244 Savills (UK) Ltd. NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.

Common Parts


Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Projected YoY % RPI Growth

1.2 3.0 3.4 3.4 3.4 3.5 3.6 3.6 3.5 3.3

Annual rent for following year if forecast realised

£400,456 £412,469 £426,493 £440,993 £455,987 £471,946 £488,936 £506,537 £524,266 £541,566

Lease

The property is let to the Russian Federation on effective

full repairing terms for a term of 15 years commencing on 1st

January 2015 and expiring 31 December 2029 with a current

rent passing of £335,000 per annum.

The lease is subject to annual rent reviews linked to the Retail

Price Index (RPI). The lease allows for the property to be

used as a private residence for the staff of or other persons

connected with the embassy or consular services of the

government of the Russian Federation in London or guests

of such embassy.

The Russian Federation currently has a D&B rating of O1 which

reflects a minimum risk of business failure.

Using RPI forecasts from the Office of National Statistics and

Haver Analytics the following rental increases are forecasted;

Over the past five years, Prime London has been the

strongest performing UK residential market, with average

values currently 30.8% above 2010 levels. Following the

General Election sentiment remains strong for Notting Hill

due to the quality of the location, built environment and

breadth of amenities.

The Royal Borough of Kensington and Chelsea has seen

particularly significant price growth and is currently 58%

above 2007 levels. London is forecast to benefit from robust

capital growth with Savills Research forecasting 22.7% growth

over the next five years and 17.1% increase in Prime Central

London rents. London’s global status and political and

economic stability continue to attract ongoing high demand

from equity rich investors and owner occupiers.

The property allows an investor to enjoy an attractive RPI

linked income, as well as potential for good capital growth

prospects during the lease term.

Central London Forecasts

Capital Value: Prime Central London

2015 2016 2017 2018 2019 5 years

1% 8% 6.5% 5% 5% 25.5%

Rental Value: Prime London

2.5% 3.0% 3.5% 3.5 3.5 17.1%

Prime Central London Commentary

Rear view of property

Chanricarde Gardens, Notting Hill, London Prime Central London Residential Investment Opportunity

Tenure The property is held Freehold.

VATWe understand that the property is not VAT elected.

Method of SaleFor sale on the instruction of R Kerrigan & M Kempton

at Kempton Carr Croft acting as LPA Fixed Charge

Receivers.

The property is offered for sale, as a single lot subject

to the existing lease, by way of informal tender.

Should a closing date for the submission of offers

be set, all parties who have expressed an interest

will be informed in due course.

ViewingsIn order to keep tenant disruption to a minimum

no internal access will be provided during the

marketing period.

For further information and a full suite of property

data including EPCs please visit:

www.savills.com/pembridgeandclanricarde

Contacts For further information please contact:

Davina Clowes [email protected]

+44 (0) 20 7016 3838

James Laverack [email protected]

+44 (0) 20 7016 3770

Important Notice

Savills, their clients and any joint agents give notice that:

1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and Produced by Savills Marketing: 020 7499 8644 | June 2015

Documents

Prime Central London Residential Investment …pdf.savills.com/documents/Clanricarde Gardens Brochure...Prime Central London Residential Investment Opportunity Chanricarde Gardens