Retail premises for sale

Portobello Road, London W11

Situation & Location

The property is situated on the western side of Portobello Road, close the junction with Lancaster Road and benefits from high tourist and local footfall. Other retailers located in the immediate proximity include Jovonna, Pepper Tree Vintage as well as Portobello institutions Garcia’s Deli, and The Grain Shop (Portobello Health Foods). It thus enjoys heavy tourist and local footfall associated with this world famous location. Please see Goad traders plan below:

Description & Accommodation

This mid-terraced property comprises a self-contained ground floor retail unit with residential upper parts above (which are retained by the vendor on a long lease), providing the following accommodation:-

Ground floor shop 909 sq ft 31.6 sq m plus WC (461 itza) - floor plan on request

Tenancy

The ground floor shop is let for a term of 10 years from 12th June 2025 on effectively full repairing and insuring terms at a rent of £52,500 pa subject to upward only review in June 2030. The lease is taken outside the Landlord & Tenant Act 1954.

The tenant is The Kai nh Ltd t/a The Nail Town with a guarantee from Eighty-8 Notting Hill Ltd, which has operated a successful nail and beauty business at 8 Blenheim Crescent W11 for a number of years. A six-month rent deposit is held, to be reduced by 50% after three years, provided the rent has been paid in a timely manner

Guide Price: £795,000 to give an initial yield of some 6.25 % after usual purchase costs.

Investment Case

High footfall location; tenancy backed by guarantee from well-established business and six month rent deposit; Zone A rent of some £114 with Portobello Road currently experiencing significant rental growth: Recent transactions in section immediately to the south in the order of £200 za and in the order of £250 za in the block beyond

Legal Costs Each party to bear their own VAT The property is not currently opted