No longer on the market
This property is no longer on the market
Floorplan
MapRetail property (high street)
Auction
EPC rating: B
Retail property (high street)
Features and description
Unsold. Contact the auctioneer.Guide Price = £500,000+
*For Sale By Online PublicAuction 10th September 2025 09:30 AM. To inspect the legal documents for this property go to our website to download the legal pack*
A Well Located Lower Ground and Ground Floor Restaurant Subject to a Lease Producing £55,000 Per Annum (Rising to £60,000 in 2026)
Tenure
Leasehold. The property is held on a 97 year lease from 24th June 1976 (thus approximately 47 years unexpired).
Location
The property is situated in the highly sought after area of Paddington close to local shops and amenities. The open spaces of Hyde Park are within easy reach. Transport links are provided by Paddington underground (Bakerloo, Circle and Elizabeth lines) and rail stations.
Description
The property comprises a lower ground and ground floor restaurant situated within a terraced building arranged over lower ground, ground and five upper floors.
Accommodation
Lower Ground and Ground Floor
Restaurant Area
Accommodation
Tenancy
The property is subject to an FRI lease for a term of 20 years commencing January 2025 at a rent of £55,000 per annum (rising to £60,000 in January 2026).
Note
Further Information
When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. If you do not fully understand this process, please ask the auctioneers or a solicitor.
EPC Rating
B
Open during their normal business hours
*For Sale By Online PublicAuction 10th September 2025 09:30 AM. To inspect the legal documents for this property go to our website to download the legal pack*
A Well Located Lower Ground and Ground Floor Restaurant Subject to a Lease Producing £55,000 Per Annum (Rising to £60,000 in 2026)
Tenure
Leasehold. The property is held on a 97 year lease from 24th June 1976 (thus approximately 47 years unexpired).
Location
The property is situated in the highly sought after area of Paddington close to local shops and amenities. The open spaces of Hyde Park are within easy reach. Transport links are provided by Paddington underground (Bakerloo, Circle and Elizabeth lines) and rail stations.
Description
The property comprises a lower ground and ground floor restaurant situated within a terraced building arranged over lower ground, ground and five upper floors.
Accommodation
Lower Ground and Ground Floor
Restaurant Area
Accommodation
Tenancy
The property is subject to an FRI lease for a term of 20 years commencing January 2025 at a rent of £55,000 per annum (rising to £60,000 in January 2026).
Note
Further Information
When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. If you do not fully understand this process, please ask the auctioneers or a solicitor.
EPC Rating
B
Open during their normal business hours
About this agent
Auction House London is the largest branch of the Auction House UK brand. Auction House holds more auctions annually than any other firm of auctioneers in the UK and sold 4,957 properties throughout 2018 – over 1,000 properties more than our closest rivals. Co-founded by Andrew Binstock and Jamie Royston in 2011, Auction House London has grown year on year in its relatively short history to become one of the top 5 residential property auctioneers in the UK. We adopt a modern and dynamic approach to offering high quality auction facilities to both corporate and independent sellers and buyers. We firmly believe in the importance of extensive online marketing campaigns in addition to the traditional offline methods. Our forward thinking approach to auctions has been regularly applauded and we are very proud to be recognised as offering extremely high levels of customer service to all of our clients. With a proven track record in residential and commercial investments and property auctions, the team offers a fresh and energetic approach to their auctions, providing a quality service that achieves the right results for all parties.