Development
properties

Exchanged

The Finborough Arms 118 Finborough Road London SW10 9ED

Freehold investment/development opportunity

Prime location investment/development opportunity

Potential to add a mansard flat subject to gaining the necessary consents

Asset management potential

One class A4 investment producing £42,000pa plus VAT. Currently trading as The Finborough Arms.

One class D2 investment producing £26,000pa plus VAT. Currently let to The Steam Industry trading as The Finborough Theatre.

One 4-bedroom flat measuring approximately 1,130ft2

Residential VP on completion

5-minute walk to West Brompton Station

Freehold

P.O.A. (Unconditional offers only)

Description

Constructed in 1868, Finborough Arms was a landmark building in the Earl’s Court Development of that period. Now, home of the famous Finborough Theatre and
The Cellar Live music venue. The site is located 0.5 miles from Stamford Bridge. We are pleased to offer for sale this very rare opportunity to acquire a mixed- use investment/development opportunity in a prime central location.

Location

Chelsea is an area of South West London, bounded to the south by the River Thames. Its river frontage runs from Chelsea Bridge along the Chelsea Embankment, Cheyne Walk, Lots Road and Chelsea Harbour. Chelsea has a reputation as London’s bohemian quarter, the haunt of artists, radicals, painters and poets. The area of Chelsea is an affluent area known for the smart boutique and high-end restaurants lining busy Kings Road. The National Army museum traces British army history from the 1600’s to the present, while the Saatchi Gallery displays contemporary art.

Transport

West Brompton is a tube and national rail station on the District Line and West London line in West London, on Old Brompton Road. The station is on the Wimbledon branch of the District Line between Earls Court and Fulham Broadway stations. On the WLL, National Rail services are provided by Southern and London Overground, in between Kensington and Imperial Wharf stations.

Schedule

Ground Floor & Basement

Let for a term of 25 years from 11th December 2013 with 5 yearly rent reviews. This element is let to DN Bars Ltd of which Mr. Darren Nolan is a Director and has provided a personal guarantee. The landlord also has the benefit of an Authorised Guarantee Agreement (AGA) given by the previous tenants Jeremy Sirrell, Luciana Sirrell and James Sirrell. The passing rent is £42,000.00 per annum exclusive. (The current tenant appears not to be in occupation and are in rent arrears).

1st Floor

Let to The Steam Industry trading as the Finborough Theatre for a term of 25 years from 17th April 2014. The passing rent is £28,744.00 per annum. Rent reviews are at 5 yearly intervals and are Index Linked. The next rent review is on 14th July 2023.

2nd Floor Flat

Vacant Possession to be provided in November 2020.

Access

Access can be arranged with sole agents Highfield Investments.

Additional Information

Copies of the existing lease documents are available upon request.

VAT

We have been advised that VAT is applicable.

Tenure

Freehold.

Terms

P.O.A. (Unconditional offers only).

Please note the information provided by Highfield Investments London Limited, trading as Highfield Investments has been given in good faith, however all parties must undertake their own due diligence to satisfy themselves in regards to accuracy.