Location: The property is situated on the southern side of Fulham Broadway close to its junction with Harwood Road. The parade affords a mixture of traders including; Whole Foods market, Just Falafel, Toni & Guy, GBK and an array of Banks and coffee shop operators. Communications are provided by way of Fulham Broadway (District Line) station which is situated opposite. The immediate area provides a wealth of interest such as world renowned Chelsea Football club and the bustling street market of North End Rd. The property is located within the affluent London Borough of Hammersmith and Fulham.
Description: The property comprises a mid-terrace five storey mixed use building which is sub divided into a ground floor retail unit with basement and three uppers floors arranged as two self-contained residential units with independent access via Argon Mews. The upper parts are in need of extensive refurbishment and could well provide an opportunity for further development subject to obtaining the usual consent.
User: We believe the premises fall under Class A1 Retail for the ground floor whilst the upper parts fall under C3 residential dwelling of the Town & Country Planning (Use Class) (Amendment) Order 2005
Accommodation: The property offers the following (NIA) approximate dimensions: -
Ground Floor - 710 sq ft. (65.95 sq m) Basement - 550 sq ft. (51.09 sq m) Total - 1,260 sq ft (117.05 sq m) ITZA 538
1st, 2nd and 3rds floors (GIA) 1,680 sq ft. (156.07 sq m)
12-14 Fulham Broadway, SW6, comprising 605 sq ft. of ground floor only was let by way of co-terminus sublease expiring on 19th June 2019 contracted outside the L&T Act 1954 and the space was let recently at a rental exceeding £50,000 per annum exclusive by Messrs Colliers.
7 Fulham Broadway was let to German Doner Kebab Limited by Messrs Lewis Craig on FRI lease expiring in November 2028, rent achieved was £70,000 per annum. The property is arranged over ground and basement floors providing 1285 sq ft. of A3 space. The deal was completed in January 2015.
ERV: We are of the opinion that ITZA’s are in the range of £110.00 – £120.00 per square foot which would indicate an estimated rental value ranging between £60,000 – 65,000 per annum for the retail unit.
Residential Value: Local comparable evidence would indicate that the area should demand a rate of £1,350 per square foot as recently achieved by our residential department in the sale of a split level flat in Waterford Rd SW6. Bearing in mind the location of the subject property a realistic value should be circa £1100.00 per square foot.
Tenure: Freehold with full vacant possession upon completion
Rateable Value: We are advised by the VOA website that the Ground and Basement element of the property has a Rateable Value of: £35,000.00; however interested parties should make their own enquiries.
EPC: Energy performance certificate is awaited for the premises.