132 Seymour Place

London, W1H 1NS

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Image from Google Street View - 172
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Under offer
Property Type Investment
Availability For Sale
Size 937 sq ft
Freehold Price Offers in excess of £475,000 Subject to Contract

Sought after restaurant/residential investment in a popular Central London location

Location

The property is located in Marylebone an affluent and vibrant Central London neighbourhood located within the City of Westminster. Marylebone comprises a mix of offices, high class restaurants and diverse shopping. These are centred around Marylebone High Street and the nearby Edgware Road.
Public transport links are excellent with London Marylebone Station (Bakerloo, Overground and National Rail) located to the north of Marylebone Road and within a few minutes walk away from the property. Edgware Road Underground Station (Bakerloo Line, District, Circle) and Baker Street Underground Station (Bakerloo, Jubilee, Metropolitan, Hammersmith & City and Circle Lines) are both within easy walking distance to the premises. The area of Marylebone is also highly accessible via road with the A40 Marylebone/Euston Road providing access to Heathrow Airport via the M25 and the M4 to the west and direct access to Marylebone, London Euston & Kings Cross St Pancras stations to the east. Numerous bus routes operate along Baker Street and Marylebone Road, connecting both the West End and the City.

Key Points

  • Highly Reversionary income
  • Small Lot Size

The property itself is located within 100 metres of Marylebone Road on the eastern side of Seymour Place close its junction with York Street.  There a numerable buses running along the Marylebone Road serving all areas of London.

The building which is mid terrace is of brick construction under a mansard roof with accommodation arranged over basement and ground floor restaurant with self contained residential upper parts on the first to third floors and a fourth floor mansard conversion, with access from Seymour Place.

The  property offers the following :

Ground floor Restaurant

Net Internal width   10ft 3        3.12m

Zone A                       262 sq ft    24.34 sq m

Zone B                       200sq ft     18.58 sq m

Overall Area             462 sq ft    42.9 sq m

Basement                 475 sq ft    441.3 sq m

Residential Accommodation

Flat 1

First Floor    3 room Kitchen & bathroom

Flat 2

2nd  Floor      3 rooms plus bathroom

3rd Floor       3 rooms plus bathroom

4th Floor       2 rooms plus bathroom

Tenancies

The ground floor and basement are let to Seymour Catering Ltd on a 5 year FRI lease from 25th June 2016 at a rental of £16,500 pa.  This restaurant is substantially under let with an ERV of £35,000 pa.  The upper floor residential is all sold off on long occupational leases.  Flat 1 for 99 years from 25th December 1995 at a g/r of £50 pa.  There is 77 years remaining so an opportunity exists to negotiate a lease extension for a premium.

EPC

Available on request

Proposal

We have been instructed by the vendor to seek offers in excess of £475,000 subject to contract for the freehold interest.

VAT

The property is not elected for VAT and VAT will not be payable on the purchase price.

Savoy Stewart - London Commercial Property Experts

Savoy Stewart is a commercial property agent and commercial property surveyor located on Oxford Street, in the heart of London. We provide comprehensive services that meet specific commercial property needs all around London and the surrounding areas.

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