R A D L E Y M E W S 1 8 - 2 3

KENSINGTON, LONDON W8 6JP

An except ional ly rare opportunity to acquire the freehold interest of a mixed-use block of bui ldings in one Kensington’s most discrete mews. The asset offers numerous investment and development opportunit ies .

» Classic car showroom and garage across the majority of the ground floor, extending to approximately 280.65 sq. m. (3,021 sq. ft.) Gross Internal Area. Current occupational leases to Graeme Hunt Ltd expire in September 2019

» Eight residential apartments set over ground to second floor, extending to approximately 429.04 sq. m. (4,588 sq. ft) Gross Internal Area

» Six of the residential apartments are let on Assured Shorthold Tenancies (AST), while the remaining two apartments have been sold on 125 year leases

» Site extends to a total of 0.04 hectares (0.1 acres)

» Potential asset management opportunity on vacant possession to enhance the existing accommodation and re-let

» Potential redevelopment options for all or part of the site, subject to obtaining the necessary consents

» Freehold for sale

EXECUTIVE SUMMARY

3

Radley Mews is situated in the Royal Borough of Kensington & Chelsea, a globally recognised location being

one of London’s most exclusive and affluent residential addresses. Kensington sits alongside Chelsea,

Knightsbridge, Belgravia and Mayfair, as one of London’s top five luxury

residential districts.

The area is renowned for its exceptional garden squares and parks. Radley Mews enjoys easy

access to both, Holland Park (0.6 kilometres to the north) and Kensington Gardens (1.1 kilometres to

the north east).

The area benefits from an eclectic range of cafés, restaurants and shops, both global brand outlets and local independent businesses. Internationally renowned cultural attractions, including the Royal Albert Hall, the Natural History Museum and the

Victoria & Albert Museum lie within 1 kilometre of the site. The site is also well located for many of

London’s leading educational establishments.

LOCATION

4

Radley Mews is a quiet, traditional cobbled mews located off Stratford Road and links with Lexham Mews.

It is one of the many attractive backwater streets between Kensington

High Street and Cromwell Road. Originally used as coach houses

and stabling for the main houses on Lexham Gardens.

S ITUATION

5

A3

220

W

CR

OS

S R

TE

HOLLAND PARK AVENUE

NOTTING HILL GATE

BAYSWATER ROAD

A3220

A3220

A3220

FINBORO

UGH ROAD

QU

EE

N’S

GA

TE

GLO

UC

EST

ER

RO

AD

A3220

A

3220

A4 WEST CROMWELL ROAD

A4

A4

BRO

MPTO

N ROA

D

A315 K

ENSINGTON HIGH STREET

A315 KENSINGTON ROAD

OLD BRO

MPTO

N ROAD

A315 K

ENSINGTON HIGH STREET

A315 KENSINGTON ROAD

THE

BOLTON

S

WR

IGH

TS

LA

NE

HARRINGTON GARDENS

EX

HIB

ITIO

N R

OA

D

FULH

AM R

OAD

KE

NS

ING

TO

N C

HU

RC

H S

T

South KensingtonGloucester Road

Earl’s Court

West KensingtonBarons Court

Kensington Olympia

Shepherd’s Bush

Holland Park Notting Hill Gate

Queensway

High StreetKensington

Kensington Gardens

Holland Park

EdwardesSquare

KensingtonPalace Green

Hyde Park

The Serpentine

Hammersmith

Knightsbridge

Radley Mews benefits from excellent transport links, with 4 underground

Stations, 1 overground Station and 11 bus routes within 1.5 kilometres of

the site.

All distances and times taken from Google Maps (www.google.co.uk/maps). Not to scale - for indicative purposes only.

CONNECTIVITY

High Street Kensington

6 mins (0.7 kilometres) Circle, District

Earls Court

6 mins (0.7 kilometres)

District, Piccadilly

Gloucester Road

10 mins (1.1 kilometres) Circle, District,

Piccadilly

Kensington Olympia

14 mins (1.5 kilometres)

Overground, Southern

6

Knightsbridge

South Kensington

Natural History Museum

Royal Albert Hall Hyde Park

Kensington Gardens

Kensington High Street

18 – 23 Radley Mews is situated at the eastern end of Radley Mews where the street curves around on itself to meet Stratford Road. The Property benefits from frontage to the north, south and

east. The Property comprises a car show room (currently let to Graeme Hunt Ltd) on the majority of the ground floor and eight residential flats on ground, first

and second floors.

DESCRIPTION

7

EXISTING ACCOMODATION SCHEDULE

Gross Internal Area - Whole Building

Floors Sq Ft Sq M

Ground Floor 3,506 328.53

First Floor 3,775 350.69

Second Floor 489 45.43

Total 7,770 724.65

Gross Internal Area - Residential (incl. common parts)

Floors Sq Ft Sq M

Ground Floor 258 23.97

First Floor 3,775 350.69

Second Floor 489 45.43

Total 4,522 420.09

*Access to these properties has not been possible as part of the preparation of marketing materials. The areas stated above have been taken from the EPC register and have been added to the Residential area totals in these schedules.

Car Showroom

Sq Ft Sq M

Gross Internal Area 2,776 257.89

Net Internal Area 2,644 245.63

Double GarageSq Ft Sq M

Gross Internal Area 245 22.76

Total (Gross Internal Area) 3,021 280.65

Gross Internal Area - Individual Flats

Flats Sq Ft Sq M

18A 883 82.03

19A 883 82.03

20A 459 42.64

21A 403 37.44

22A 399 37.07

23A 418 38.83

20 411* 41.00*

20B 732* 68.00*

Total 4,588 429.04

DESCRIPTION

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GROUND FLOOR

28'9'' x 28'3''8.76 x 8.61m

18A

19A

20 A+B25

DoubleGarage16'3" x 15'4.95 x 4.57m

47'9" x 14'3"14.55 x 4.34m

13'9'' x 11'4.19 x 3.35m25' x 14'

7.62 x 4.27m

19'9" x 19'6.02 x 5.79m

16'3" x 9'3"4.95 x 2.82m

14'6" x 8'3"4.42 x 2.51m

Number 20Sold on

Long Lease

EXISTING FLOOR PLANS

10

9

For illustrative purposes only. Not to scale.

FIRST FLOORSECOND FLOOR

Kitchen6'9'' x 6'3''2.06 x 1.90m

Bedroom12'9" x 10'6"3.89 x 3.20m

ReceptionRoom

14' x 12'3"4.27 x 3.73m

ReceptionRoom14' x 11'

4.27 x 3.35m

Bedroom14' x 8'

4.27 x 2.44m

ReceptionRoom

14' x 10'3"4.27 x 3.12m

Bedroom14' x 9'

4.27 x 2.74m

Bedroom14'6'' x 10'6''4.42 x 3.20m

Kitchen11'3'' x 5'3''3.43 x 1.60m

Bedroom12' x 8'6''

3.66 x 2.59m

ReceptionRoom

15'9'' x 12'9''4.80 x 3.89m

Bedroom12'9'' x 9'6''3.89 x 2.90m

ReceptionRoom

15'9'' x 12'9''4.80 x 3.89m

Bedroom12'9'' x 9'3''3.89 x 2.82m

Bedroom14'6'' x 9'6''4.42 x 2.90m

Kitchen11' x 5'

3.35 x 1.52m

Bedroom12'3'' x 8'6''3.73 x 2.59m

Bedroom14'9" x 12'9"4.50 x 3.89m

Kitchen7' x 5'6"

2.13 x 1.68m

14'6" x 13'4.42 x 3.96m

21A22A23A

Terrace

20A

Number 20BSold on

Long Lease

11

EXISTING FLOOR PLANS

9

For illustrative purposes only. Not to scale.

124

118

108 106 104

110

15

1798

9414

102 10096

92 90

10

12

Marloes

Road

Lexham GardensLexham Gardens

Lexham Gardens

11

1818a

10 2

10

5

1213

14 1516

1715 14

13

4

1

5

32

28

26

19a

124

30

3

24

138

3

20

44 42 40 1638

2

36

613a

781

89

9

Radley

Mew

s

Stanford Road

Allen Street

7 6

12 11

11a

3a 3

Radley Mews

Stratford RoadB

lithfieldS

treet

Du SenegalAmbesade

37

19

1621

1823

9a8 7 256 5

22

27

2017

2

5 1

4

20

29

10

3

24316

14 12 10 8 6 4 2

18

20a

11

23a

20b 319

23

331

24 25

9

22

20 18 16

1 4117

2635a

22 3121 2

0m 10m 20m 30m

© UKMap Copyright The GeoInformation Group 2019 Licence No. LANDMLON100003121118. Plotted Scale - 1:1000

THE SITE

Tenancy Schedule

Property Tenant Term Outside the act Current Passing Rent

18, 20-23 Radley Mews Graeme Hunt Ltd10 years from 15/09/2009

The security of tenure provisions of the

Landlord & Tenant Act 1954 are excluded

from both leases

£60,000*

19 Radley Mews Graeme Hunt Ltd10 years from 15/09/2009

*While the rent payable of £60,000 p.a. has been confirmed by the Vendor, there is no documentation to support this current passing

rent. We have been informed that this rent is being paid by the tenant to the landlord, under a gentlemen’s agreement.

Property Occupied Date Latest Extension Vacating Date Agreed Notice to Quit

Rent per month

18a Radley Mews 11/08/2017 04/03/2019 15/08/2019 None £2,557.95

19a Radley Mews 04/09/2014 04/09/2018 03/09/2019 60 days £2,694.15

20a Radley Mews 29/07/2016 29/07/2018 28/07/2019 60 days £1,778.40

21a Radley Mews 23/08/2012 23/08/2018 22/08/2020 60 days £1,562.67

22a Radley Mews 19/07/2007 18/07/2018 18/07/2019 60 days £1,449.20

23a Radley Mews 04/01/2011 04/01/2019 03/01/2020 60 days £1,677.00

Property Title Number Sold Date Price Lease Length

20b Radley Mews BGL144079 19/09/2018 £975,000 Lease dated 24 August 2018 (125 years from 25 March 2014)

20 Radley Mews BGL106584 08/07/2014 £690,000 Lease dated 8 July 2014 (125 years from 25 March 2014)

Tenure

The freehold title is held under Title Number LN140621, shown edged red on the site plan.

12

9

Town Planning

The Property falls within the jurisdiction of the Royal Borough of Kensington & Chelsea.

The buildings are not statutorily Listed, but are located within the Edwards Square/Scarsdale & Abingdon Conservation Area.

Under the Town and Country Planning (Use Classes) Order 1987:

- The residential use is classified class C3(a). Residential uses are protected across the Borough under current and emerging policy.

- The car showroom accommodation is classified class ‘Sui Generis’, meaning ‘of its own kind’. There is no current or emerging policy that exists to protect a sui generis car showroom.

Further information relating to relevant planning policy can be found on the dedicated project dataroom.

Redevelopment Potential

It may be possible to achieve a change of use of the car showroom, the most appropriate replacement use is likely to be residential, given the nature of the mews in its majority.

The roof line of the mews is varied and many properties already benefit from mansard roof extensions. Similar extensions could be considered for this property, although careful consideration would have to be given to the impact of any proposed extension upon the character and appearance of the mews and upon the residential amenity (in particular daylight and sunlight levels) to surrounding properties.

Providing they meet all the relevant parameters as set out under policy CL7 the Borough will allow single storey basement extensions to buildings, ‘in principle’.

Any potential change of use, enhancement or re-development of the Property will be subject to the necessary consents.

Services

The Property is connected to mains water, gas and drainage, although these have not been tested. It will be the responsibility of the purchaser to determine whether the current supplies are adequate for their proposed use of the Property following purchase.

EPCs

EPC ratings are D for the commercial space and C - G for the residential. Further information is available on the dedicated dataroom.

Taxation

The Property is not elected for VAT.

Method of Sale

The Property is to be sold by way of Informal tender (unless sold prior). A deadline for offers will be provided in due course.

Vacant Possession

The car showroom and garage will become vacant in September 2019 and there is no intention to renew the current lease. Some of the residential units let on AST agreements are expected to become vacant during the course of this year.

Viewings

Inspections of the Property are strictly by appointment only, through the Vendor’s Selling Agent, Savills.

Further Information

A dedicated project data room has been set up and interested parties are able to register at: https://sites.savills.com/radleymews

Important Notice Savills, their clients and any joint agents give notice that:

1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and Produced by Savills Marketing: 020 7499 8644 | June 2019

CONTACTS

LUKE HAWKESBURY 0207 409 9942

LHAWKESBURY@SAVILLS.COM

JAMES DONGER0207 016 3841

JDONGER@SAVILLS.COM