Summary - 37 BASEMENT AND GROUND FLOOR PREMISES ALEXANDER STREET LONDON W2 5NU
1 bed 1 bath Retail Property (high street)
Investment-ready retail with long lease and immediate rental income.
Prominent corner retail with large street-facing windows
Ground floor plus basement — 787 sq ft total flexible space
Current rent £25,000 p.a.; gross initial yield 5.88%
Let to Portobello Girl Beauty Ltd; FR&I lease in place
Outstanding 2023 rent review; 2023 break clause not exercised
Long leasehold: 999-year lease from 1988 (c.982 years remaining)
High-crime area may affect insurance and certain occupiers
No VAT; flood risk reported as none
Set on a prominent corner in Notting Hill, this long-lease high‑street retail unit offers a rare West London commercial footprint with good ceiling heights and strong glazing for display. The ground floor retail plus basement treatment rooms provide flexible layouts for retailers, clinics or similar occupiers. The property occupies a quiet residential street five minutes from Royal Oak station, benefiting from local amenities and steady neighbourhood demand.
The unit is let to Portobello Girl Beauty Limited at £25,000 p.a., producing a gross initial yield of 5.88% and offering immediate income for an investor. The lease is full repairing and insuring; a rent review from 2023 is outstanding and a 2023 break clause was not exercised — important factors for income certainty and negotiation.
Physical positives include high ceilings, large street-facing windows, allocated outdoor space at the front and a well-preserved Georgian façade that contributes to kerb appeal. The basement provides useful ancillary accommodation, extending operational flexibility.
Notable considerations: this is a long-leasehold asset (999-year lease from 1988) with a peppercorn ground rent, but the property sits in a high-crime area, which could affect certain occupiers and insurance terms. VAT does not apply. Prospective buyers should review the outstanding 2023 rent review, tenancy details, and any maintenance liabilities tied to the repairing covenant.
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