Freehold Commercial Investment

A Grade II Listed property comprising a ground floor shop and basement, currently trading as a foot clinic, accompanied by three flats above which have each been sold off on long leases. The property is situated within a popular area of Central London, located just south of Marylebone Road and off Seymour Place. It sits approximately three-quarters of a mile north of Hyde Park, one-third of a mile from Baker Street, and within a quarter of a mile of Edgware Road underground station. Ground floor accommodation provides a net internal area of approximately 389 sq ft (36.1 sq m), while the basement offers a net internal area of approximately 499 sq ft (46.4 sq m). The commercial space is let on a repairing and insuring lease to R G Foot Protection and Limb Preservation Ltd for a term of 15 years from 21st December 2023 at a passing rent of £35,000 per annum, with five-yearly rent reviews and mutual break options subject to six months' notice. Each time the tenant does not operate the break clause, they receive a 50% discount on the rent for nine months. The provisions of Sections 24-28 of the Landlord and Tenant Act 1954 (security of tenure) are excluded. The three upper flats are each sold on 999-year leases at a peppercorn ground rent. The property generates a total income of £35,000 per annum and holds an EPC rating of E. Subject to possession and all necessary consents, there may be potential to convert the ground floor and basement to residential use. Section 5b notices have been served, and tenants have reserved their rights of first refusal. A rent deposit of £13,125 is held.