An exceptional residential investment opportunity located in the heart of Kensington

147-149

Kensington High StreetLondon W8

147-149 Kensington High Street, London W8

INVESTMENT SUMMARY

A recently developed investment property located in the heart of Kensington

— House in Multiple Occupancy (sui generis)

— Five upper floors currently arranged as 29 self-contained studios

— Total floor area 885.2 sq m (9,528 sq ft) including communal parts

— Developed to a high specification

— ERV when fully let approximately £565,000 per annum

— Ground floor and basement commercial space sold off on long leases

— Upper parts offered with vacant possession

— Freehold

147 149

Studios 29

Total Floor Area (sq m / sq ft) 885.2 sq m / 9,528 sq ft

Average studio size 20.2 sq m / 217 sq ft

ERV (pa) £565,000

Tenure Freehold

LOCATIONThe property is located on the southern side of Kensington High Street (A315) between Adam and Eve Mews and Wrights Lane and opposite Campden Hill Road.

Kensington High Street is the principal route between Hammersmith to the west and Knightsbridge and Mayfair to the east. It is one of London’s world renowned shopping streets providing an extensive range of high end and high street retail with numerous restaurants serving the local residents and tourists.

Kensington is one of the most affluent areas in London and is bordered by Holland Park to the west, Notting Hill to the north, Chelsea to the south and Knightsbridge to the east.

147-149 Kensington High Street, London W8

147-149 Kensington High Street, London W8

LOCATION

Holland Road

Shep

herd

’s Bu

sh R

oad

Park Lane

Constitution Hill

Eaton Sq

Sloa

ne S

tree

t

Exhibition Road

Campden H

ill Road

Piccadilly

Hyde ParkKensington Gardens

ImperialCollege

West End

Westfield

Cromwell Road

Wrights Lane

Kensington Road

Brompton

Roa

d

W Cross RouteW

ood

Lane

High Street Kensington

Kensington(Olympia)

Holland Park

Notting Hill Gate

GloucesterRoad

South Kensington

Queensway

BayswaterLatimer Road

Shepherd’sBush

Lancaster Gate

Kensingto

n Church St

The London Borough of Kensington & Chelsea is located immediately to the west of the City of Westminster. The Borough hosts a number of tourist attractions and landmarks, including Kensington High Street, Notting Hill Gate, Portobello Road and major museums.

Communications in the immediate area are excellent with the subject property being just 100m to the west of High Street Kensington Tube Station (Circle and District Line) and 0.7 miles to Notting Hill Gate Tube Station (Central Line). There are a number of bus routes running along Kensington High Street, which provide excellent connectivity to the immediate and wider area. Further afield, the M4 is 4.1 miles to the west providing links to Greater London and the national motorway network, via the M25.

Holland Park, Kensington Gardens and Hyde Park are all a short walk from the property providing convenient access to green open space.

© Crown Copyright 2012. All rights reserved. Licence Number 100047514

148

14 to 33

1 to 12

146

12a

14

Hornto

144142

1 to 27

6

139

137

135133

124122

126

2

28 to 44

145

2

7

ee

181183

177 175

163

165

Bank

4

167

7

PHILLIMORE WALK

173

Phillimore Court

169

5

3a

3

1

140

179

150 to 158

1

1 3

ED7

1 to

79 to

95

149

130

to 151

132 to 136

123d

125

45 to 61

62 to 78

IVERNA COURT

128

129131

2W

R155

2

153

138

to 15115555

153

17/06/131:838Scale

Date

8 4 8 m0

147-149

147-149 Kensington High Street, London W8

DESCRIPTIONThe property comprises two attractive, adjoining and interlinking red brick Edwardian terraced buildings arranged over basement, ground and five upper floors.

There are two retail units occupying the ground floor and basement which have been sold off on long leases.

The upper floors are accessed via a secure gated passageway to the rear of the property accessed from Wright’s Lane. There is a single communal entrance with a speaker entry system for visitor access and a prominent CCTV monitoring system for security.

147-149Kensington High St

147-149 Kensington High Street, London W8

ACCOMMODATIONInternally, the upper floors have been fully re-developed and provide 29 studio apartments. The studios, are all self contained and presented to an extremely high specification in keeping with the requirements of occupiers in this location.

There is an attractive, bright and spacious entrance hall and central stairwell which interlinks the two buildings and leads to the upper floors.

The kitchens benefit from an integrated hob and cooker, free standing fridge with freezer compartment, granite work tops and eye & base level storage cupboards.

The living / sleeping areas have engineered wood flooring and the buildings are installed with wifi and satellite television. Each studio is individually metered for electricity with a communal gas fired hot water / heating system.

28 of the 29 studios have shower rooms, one studio has a bath. Bath /shower rooms have quality fittings and attractive dark tiled floors and walls.

147-149 Kensington High Street, London W8

SCHEDULE OF AREAS Schedule of Areas (NIA’s)

F lat No Area (sq m) Area (sq f t )

1 21.0 226

2 22.5 243

3 18.9 203

4 17.5 189

5 16.1 174

6 19.5 210

7 28.9 312

8 20.2 218

9 18.9 204

10 17.4 188

11 15.9 171

12 24.9 268

13 19.9 215

14 22.2 240

15 18.3 197

16 17.0 184

17 14.7 159

18 25.8 278

19 31.0 334

20 20.8 224

21 15.5 167

22 17.1 184

23 14.2 154

24 24.5 265

25 22.7 245

26 21.6 233

27 23.5 254

28 16.9 182

29 17.0 184

585.6 6,304

Schedule of GIA’s

Floor Area (sq m) Area (sq f t )

1 185.9 2,002

2 182.0 1,959

3 181.4 1,953

4 178.8 1,925

5 156.9 1,689

885.2 9,528

Schedule of Accommodation

147-149 Kensington High Street, London W8

PLANNINGThe property is located in the Royal Borough of Kensington and Chelsea(RBKC) and the Edwards Square, Scarsdale and Abingdon Conservation Area. The buildings are not listed.

Planning permission (PP/12/00315) was granted on 26/07/2012 for “Erection of a roof extension and refurbishment of existing accommodation on 1st-4th floors to provide a house-in-multiple-occupation (29 units) and 4 self-contained residential units”.

The 29 units are located at 147-149 Kensington High Street and the 4 self contained units (accessed separately) are located at 145 Kensington High Street. The permission was subject to a S106 Agreement and the obligations of his agreement have been discharged by the Vendor as part of their implementation of the planning permission.

A non-material amendment to the July 2012 planning permission has been incorporated into the completed scheme, which involved

a minor internal reconfiguration within no.149 and which was approved in October 2012 (ref. NMA/12/03857).

The completed development also incorporates a ‘minor material amendment’ to the July 2012 planning permission, which involved reconfiguring the approved floor space at 5th floor level in order to provide an additional bedroom within no.145, and relocating 2 HMO units within nos.147-149. This was approved in November 2013 (ref. PP/13/04985).

First FloorGround Floor Second Floor

147-149 Kensington High Street, London W8

Fourth Floor

1716

10

1415

987654

13

321

UNIT 25

FIRE ESCAPE CORRIDOR

12

UNIT 26

LIVING AREA

LIVING AREA

KITCHEN AREA

KITCHEN AREA

BATHROOM

11

INTERNAL LIGHT WELL

ACCESS TO EXISTING ROOFTOP FIRE ESCAPE MAINTAINED

18

UNIT 29

LIVING AREA

KITCHEN AREA

KITCHEN AREA

LIVING AREABATHROOM

UNIT 28

PLANT ROOM

UNIT 27

BATHROOM

LIVING AREA

KITCHEN AREA

BATHROOM

BATHROOM

Fifth Floor

PLANNING

Third Floor

The property is located in the Royal Borough of Kensington and Chelsea(RBKC) and the Edwards Square, Scarsdale and Abingdon Conservation Area. The buildings are not listed.

Planning permission (PP/12/00315) was granted on 26/07/2012 for “Erection of a roof extension and refurbishment of existing accommodation on 1st-4th floors to provide a house-in-multiple-occupation (29 units) and 4 self-contained residential units”.

The 29 units are located at 147-149 Kensington High Street and the 4 self contained units (accessed separately) are located at 145 Kensington High Street. The permission was subject to a S106 Agreement and the obligations of his agreement have been discharges by the Vendor and part of their implementation of the planning permission.

A non-material amendment to the July 2012 planning permission has been incorporated into the completed scheme, which involved

a minor internal reconfiguration within no.149 and which was approved in October 2012 (ref. NMA/12/03857).

The completed development also incorporates a ‘minor material amendment’ to the July 2012 planning permission, which involved reconfiguring the approved floor space at 5th floor level in order to provide an additional bedroom within no.145, and relocating 2 HMO units within nos.147-149. This was approved in November 2013 (ref. PP/13/04985).

147-149 Kensington High Street, London W8

OCCUPIER DEMAND UNIVERSITIESThere continues to be huge demand for rental property in London and there is

currently a limited supply of high quality studio accommodation to meet this

demand, particularly in the core.

Due to its central location and high quality finish, the accommodation is likely to

appeal to a broad tenant and occupier demographic including newcomers to the

capital who are either studying or newly employed.

Kensington High Street is a recognised address across the globe. It is close

to the commercial centres of London and within easy distance of a range of

cultural attractions, nightlife destinations and entertainment venues.

London is the largest metropolitan area in the European Union and in

demographic terms its population rate increased from 7,172,091 to 8,173,900

between 2001 and 2011; an increase of 14%.

With a total of 41 universities, London forms the largest concentration of higher

education across the whole of Europe. The city is home to four of the world’s

leading institutions according to the 2012/2013 QS World University Ranking;

University College London (4th), Imperial College London (5th), King’s College

London (19th) and the London School of Economics and Political Science (68th).

The capital has experienced significant growth in student numbers over the

past 10 years recording a full time student population growth rate of 34%

(HESA – based on available data) during this period. Over the same period, the

international student population has increased by 61%.

147-149 Kensington High Street, London W8

PROPOSALTENURE

The properties are held under 2 freehold titles and subject to 2 long leases on the

commercial parts (147 Kensington High Street – 2,000 year term, 149 Kensington

High Street – 999 year term) at peppercorn rents.

The upper parts of the property are offered with vacant possession.

VAT

We understand the properties are not elected for VAT.

METHOD OF SALE

The property is offered as a single lot by way of private treaty, subject to contract.

Should a deadline be set for offers, all interested parties will be notified at the ap-

propriate time.

FURTHER INFORMATION

A full set of background information including EPCs is available via the

data room via the link below.

147-149 Kensington High Street, London W8

CONTACTFor further information or to arrange a viewing please contact The Vendors joint selling agents Savills and LEVY:

James Laverack Tel: +44 (0)20 7016 3770Email: Luke HawkesburyTel: +44 (0)20 7409 9942Email:

Matt Sharman Tel: +44 (0)20 7747 0110 Email:

Henry Leighton Tel: +44 (0)20 7747 0126 Email:

MISREPRESENTATION ACT 1967 – LEVY REAL ESTATE LLP AND SAVILLS for themselves and for the Vendors or Lessors of this property whose agents they are give notice that: all descriptions, dimensions, reference to condition and necessary permissions for use and occupation and other details are unless otherwise stated indicative only. Any intending purchasers or tenants should not rely on them as statements or representations of fact or as warranties but must satisfy themselves by inspection or otherwise as to the correctness of each of them. Any services mentioned have not been tested and therefore prospective occupiers should satisfy themselves as to their operation. These particulars are produced in good faith and set out a general guide only and do not constitute part of any offer or contract. No person in the employment of Levy Real Estate LLP and Savills has any authority to make or give representation or warranty in relation to this property. All prices and rents are quoted exclusive of VAT unless otherwise stated. Designed by i-brochure.com. alex@i-brochure.com. March 2014.