134-136 Lauriston Rd
London E9 7LH
Multifamily Property For Sale · 2,750 SF

Comprises a prominent terraced character building providing a restaurant on ground floor with two flats above. The ground floor currently trades as IL Parco and provides open plan seating for 46 covers with some bar seating, serving counter, preparation area and fully fitted kitchen with extraction at the rear. There is a staff WC and two customer WCs and storage space for goods and wines also at the rear. The premises benefit from an imposing double frontage of over 28 ft and good natural light with tiled floor, suspended lighting, part sandblasted walls, single glazed frontage and gas central heating. There is outside pavement seating for a further 22 covers in front of the restaurant. Access to the residential upper parts is to the right of the shopfront with their own street access. Flat A has a first floor entrance with two double bedrooms, fitted kitchen/diner and WC/shower on the second floor. The space is very light and airy and has the benefit of a large outside decked terrace accessed via sliding doors from the second bedroom. Flat B is on the first floor level and comprises kitchen/diner, WC/bath two double bedrooms and a single bedroom. One of the double bedrooms is ensuite with shower and WC and also access to a small roof terrace. The flats have gas central heating (untested) throughout and an entryphone system. Accommodation We have not undertaken on site measurement but understand that the accommodation within the building has the following areas: Ground Floor 1,350 sq ft (125.4 sq m) Flat A internal area 696 sq ft ( 64.7 sq m) Flat B internal area 798 sq ft ( 74.2 sq m) Tenancies The ground floor restaurant is let to IL Parco on a full repairing and insuring lease for a term of 21 years from 30th July 2008. The lease is subject to 4 yearly upwards only rent reviews with the next due in July 2020. The current passing rental is £47,448 per annum exclusive. The two flats are let on ASTs and generating an income of: Flat 134a £22,100 pa Flat 134b £24,076 pa The total current income is £93,624 per annum Proposed Sale Freehold interest of the building subject to the existing tenancies. Sale Price Offers In The Region of £2,000,000 for the freehold interest, subject to contract.