Commercial Property Details

Sale Place, London

Apartment

Reduced

£8,500,000

A freehold boutique hotel located close to Paddington station and Hyde Park.
The property consists of 11 en-suite letting bedrooms with modern kitchen.
The ground floor and basement include a (Restaurant / Bar) with fully air-conditioning lobby, conference room and Function room.
The developer has used highest quality materials with great attention to details in the design and construction.
All studios are individually designed and fully furnished. new 3 year lease has been created for the restaurant space tenant, which will be a renewable lease, protected under the Landlord & Tenant Act 1954. This basement and ground floor lease has been agreed at an annual rent of £150,000 and the lease expiry date is the 14th August 2019.
We have been advised that the occupier of the bedrooms operates the first, second and third floor on a contractual agreement with the owner, paying an annual rent of £250,000 per annum. The operators occupancy of the 11 bedrooms can be terminated at anytime, subject to 3 months notice by the freeholder.

Property description

A freehold boutique hotel located close to Paddington station and Hyde Park.
The property consists of 11 en-suite letting bedrooms with modern kitchen.
The ground floor and basement include a (Restaurant / Bar) with fully air-conditioning lobby, conference room and Function room.
The developer has used highest quality materials with great attention to details in the design and construction.
All studios are individually designed and fully furnished. new 3 year lease has been created for the restaurant space tenant, which will be a renewable lease, protected under the Landlord & Tenant Act 1954. This basement and ground floor lease has been agreed at an annual rent of £150,000 and the lease expiry date is the 14th August 2019.
We have been advised that the occupier of the bedrooms operates the first, second and third floor on a contractual agreement with the owner, paying an annual rent of £250,000 per annum. The operators occupancy of the 11 bedrooms can be terminated at anytime, subject to 3 months notice by the freeholder.

Double glazing
Fireplace
Porter/security
Wood floors
11 Self-Contained Boutique Rooms
Basement Area: Conference / Function Room
Lifts on the ground floor
Walking distance to Paddington & Edgware Road Underground Stations
Ground Floor Bar / Restaurant and reception area

All studios are individually designed and fully furnished. We estimate the studios to generate an income of approximately £300,000 per annum.
The commercial area if managed to its full potential will make an estimated revenue up to £1.5 million per annum


Additional Details

Property ID: 4126702 Property Views: 625 Property Type: Apartment Price: £8,500,000
Bedrooms: 11 Bathrooms: 0 Receptions: 0 Other Rooms: 0
Garages: 0 Parking Spaces: 0 Gardens: 0