Price Offers in the region of £3,500,000

Rates Payable Upon Enquiry

Description

3 Paddington Street is a period building arranged over basement, ground and 3 upper floors. The ground floor and basement shop was comprehensively reconstructed in 2024 with a back to bare brick refurbishment and is occupied by Prime LWE LTD trading as Appear Here.

The upper floors are arranged as 3 self contained studio flats with 1 flat occupied and 2 flats vacant.

Tenancies

The commercial part is leases to Prime LWE LTD, a high end pop up shop operator that partners with exclusive brands and innovative landlords.

Prime LWE LTD. Company registration number 15911803.

Asset management opportunities

Several asset management opportunities exist for the upper floors and include leasing the vacant flats, explore converting the flats from studios to 1 bedroom flats or converting the entire upper parts to a single dwelling.

Accommodation

The commercial parts have a Net Internal Area of 867 sq. ft.

The studio flats have an average size of 372 sq. ft on a Gross Internal / Net Sales Area basis.

The entire building has a Gross Internal Area of 3,140 sq. ft.

Tenure

The FREEHOLD interest in 3 Paddington Street is being sold. Title number 331194.

Energy Performance

The shop and basement have an EPC rating of D, with the EPC expiring in July
2034.

Flats 1+3 have EPC ratings of D. Flat 2 has a rating of C.

The EPC’s expire in June 2029 and January 2030.

Planning

3 Paddington Street is not listed but does fall within the Harley Street Conservation Area.

VAT

This property is not elected for VAT. Therefore VAT will not be charged on the
purchase price.

Current Income

£151,200 PA

PROPOSAL

Offers in the region of £3,500,000

Anti Money Laundering

We are obliged to conduct customer due diligence under the Anti Money Laundering Regulations 2017 and RICS Professional Standards. We will advise which checks are required once heads of terms are agreed.