3 Glendower Place, South Kensington, London SW7 3DU - Propex

Freehold Restaurant Investment Opportunity
3 Glendower Place, South Kensington, London SW7 3DU
Investment Summary
Located in South Kensington, a prosperous residential and
commercial area in south west London.
Excellent position close to South Kensington and
Underground Station, and extensive local amenities along
Old Brompton Road.
Comprises 94.82 sq m (1,020.61 sq ft) over ground and
basement floors.
Freehold Interest (upper parts sold off).
Let to M & R Ullah, trading as Moti Mahal at a rent of
£45,000 per annum, for an unexpired term of 9.75 years.
Rent reviews every 4 years on an upwards only basis, the
next at September 2014.
Offers in excess of £750,000 (Seven Hundred and Fifty
Thousand Pounds) subject to contract and exclusive of
VAT.
A purchase at this level, after standard purchaser’s costs
of 5.8%, would show a net initial yield of 5.67%, with
potential for uplift in 2014.

3 Glendower Place, London SW7 3DU
LOCATION and COMMUNICATIONS
Glendower Place is located in the London
Borough of Kensington & Chelsea close to
South Kensington Tube Station (Piccadilly Line,
Circle & District Line) which is about 2 minutes
walk Gloucester Road Underground Station
(Piccadilly Line, Circle & District Line) is
approximately 7 minutes walk.
South Kensington comprises a mix of
commercial uses and prime residential
including numerous embassies, ambassadors’
residences and international hotels. The area
also benefits from proximity to many of Central
London’s attractions including the Natural
History, Victoria & Albert and Science
Museums.
Numerous bus routes serve the area, including
the No 14 from Warren Street to Putney and
No.s 49, 74, 345, 414 and 430.
Glendower Place joins Old Brompton Road
which is a busy thoroughfare where there are a
range of restaurants, cafes and retail outlets.
Not to scale. For identification purposes only. This plan is based upon an Ordnance Survey Map
with the sanction of the controller of H.M. Stationery Office. Crown Copyright reserved.
The character of the local area has evolved
away from traditional A1 retailing to a more
service provision base of A3 restaurants / cafes
and A2 service providers. New arrivals in the
vicinity include Little Waitrose and Byron
Burgers, with long standing occupiers including
Christies auctioners, and Zetland Arms public
house.

3 Glendower Place, London SW7 3DU
DESCRIPTION
The property comprises restaurant unit on ground floor and basement
level, with gross frontage to Glendower Place of 4.82m (15ft 9 inches).
We have been provided with the following net internal floor areas
Floor
Area
Sq M Sq Ft
Ground 41.80 449.92
Basement 53.03 570.69
Total 94.83 1,020.61
TENURE
Freehold.
The upper parts have been sold off on a 999 year lease.
TENANCY
The property is let to R Ullah and M Ullah on assignment from T
Rahman and A Rahman. For a term of 20 years from 29 September
2002 at a current rental of £45,000 per annum.
ENERGY PERFORMANCE CERTIFICATE
An EPC will be made available on request.
The original rental was £28,500 per annum. The location has continued
to improve for restaurants in this location, and we consider the current
rental to be reversionary, and an increase can be anticipated at the
next rent review at January 2014.
VAT
The property is not elected for VAT purposes.

3 Glendower Place, London SW7 3DU
PROPOSAL
Offers are invited in excess of £750,000 (Seven Hundred and Fifty
Thousand Pounds). A purchase at this level, after standard
purchaser’s costs of 5.8%, would show a net initial yield of 5.67%.
FURTHER INFORMATION
For further information and to arrange an inspection please contact the
sole agent:
James Routledge
020 7747 3189
jroutledge@matthews-goodman.co.uk
Matthews & Goodman LLP
14-16 Regent Street
London SW1Y 4PH
Matthews & Goodman LLP gives notice that:
These particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute any part of an offer or contract. Details are given without any
responsibility, and any intending purchasers, lessees or third parties should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as
to the correctness of each of them. No person in the employment of Matthews & Goodman LLP has any authority to make any representation or warranty whatever in relation to this property.
Purchase prices, rents or other prices quoted are correct at the date of publication and, unless otherwise stated, exclusive of VAT. Intending purchasers and lessees must satisfy themselves
independently as to the incidence of VAT in respect of any transaction relating to this property. November2012