Soho

Commercial Investment

There is little chance of a quick return to a housing boom despite the possibility of UK prices rising over the course of the year, surveyors say.

49 Lexington Street, Soho, London, W1

G R E AT E R L O N D O N I N V E S TME N T

Freehold

• Prime Soho location

• Popular, busy restaurant, Aurora Soho, which has been in occupation since 1995

• New fully repairing and insuring lease with 20 years unexpired

• Passing rent of £42,000 per annum

• Three upper floors, sold off on long leases as residential accommodation, producing £400 per annum

• Offers invited in excess of £730,000 reflecting 5.50% net initial yield, after costs of 5.75%

Description

Location and Situation

The property is located on the northern end of Lexington Street, on the west

side of the street, midway between Broadwick Street and Beak Street.

This location has a high footfall of local workers, residents and tourists and is

a well known restaurant area in Soho. Local restaurants include Polpo,

Wagamama, Tierra Brindisa, Fernandez and Wells, Mildreds and Andrew

Edmunds.

Piccadilly Circus (Bakerloo and Piccadilly lines) is within five minutes walk and

Oxford Circus (Bakerloo, Central and Victoria lines) is within five minutes walk.

Description Location

The property is located on the northern end of Lexington Street, on the west side of the street, midway between Broadwick Street and Beak Street.

This location has a high footfall of local workers, residents and tourists and is a well known restaurant area in Soho. Local restaurants include Polpo, Wagamama, Tierra Brindisa, Fernandez and Wells, Mildreds and Andrew Edmunds.

Piccadilly Circus (Bakerloo and Piccadilly lines) is within five minutes walk and Oxford Circus (Bakerloo, Central and Victoria lines) is within five minutes walk.

1987 Landlord and Tenant Act

Over 50% of the total floor space of this property is in residential use.

We confirm that the residential tenants benefit from rights of first refusal in accordance with the Landlord and Tenant Act 1987.

Section five notices will therefore need to be served on the tenants, when the building is under offer, allowing them not less than two months to decide whether they wish to purchase the property.

In accordance with the 1987 Act our client is not permitted to enter into a contract for the sale of the property before the residential tenants' rights have lapsed.

Please Contact PL2L for more info on:

Schedule of Tenancies and Accommodation - The Royal Arcade, Norwich