PORTOBELLO HOUSE
HOTEL - BAR - RESTAURANT Ladbroke Grove, Notting Hill.
Rare prime freehold opportunity
2 PORTOBELLO HOUSE Indicative CGI only
Opportunity to purchase a boutique hotel, bar & restaurant benefiting from immediate vacant possession and planning consent for an additional floor.
4 PORTOBELLO HOUSE
INVESTMENT SUMMARY
Freehold
Prominent corner building
Located in the vibrant district of Notting Hill
Positioned next to Ladbroke Grove
Tube Station
Luxury hotel accommodation with a bistro restaurant and bar, arranged over basement, ground and two upper floors
Existing floor areas of 6,579 sq ft GIA including 12 hotel rooms
Immediate vacant possession appealing to both investors and owner operators
Extremely rare alcohol licence until midnight
Recent planning consent for an additional floor totalling 1,489 sq ft GIA and five further hotel rooms.
Offers are invited in excess of £7,000,000 reflecting a low capital value £867 psf on the consented GIA (exclusive of VAT).
5 HOTEL - BAR - RESTAURANT
6 PORTOBELLO HOUSE
Westbourne Grove
Portobello Road
Golborne Road
Paddington
Mayfair
Hyde Park
Westbourne Park Circle Hammersmith & City
Perfectly situated amongst Notting Hill, Portobello Road & Westbourne Grove
Ladbroke Grove
7
-
- RESTAURANT
225 Ladbroke Grove, W10
HOTEL
BAR
PORTOBELLO HOUSE
Notting Hill
Kensington
Holland Park
A40 Westway
Circle Hammersmith & City
Bayswater
4.5M+ VISITORS per year
LOCATION
Situated in the Royal Borough of Kensington and Chelsea within the vibrant and trendy Notting Hill district, the building occupies a prominent corner position on the junction of Ladbroke Grove and Chesterton road, a stones throw from the world famous Portobello Road.
Located in one of London’s most popular and affluent neighbourhoods, Portobello House is a short walk from an extensive bar and restaurant selection including Ed Sheeran’s Bertie Blossoms, Daylesford Organic, Soho House, Granger & Co and the 3 Michelin Starred CORE by Clare Smyth. The nearby Westbourne Grove is home to some of London’s most fashionable retailers including Paul Smith, Zadig & Voltaire, Aesop, The Kooples and Smythson
8 PORTOBELLO HOUSE
Ladbroke Grove and Westbourne Park Underground stations are both within a short walk from the property, providing direct access to the West End and City via the Hammersmith & City and Circle Lines. It is also in close proximity to the A4 and A40
51 37 27 27 36 49 29 25 17 22 19 13 10 8 4 3 7 9 16 24 Heathrow Airport Canary Wharf Woolwich Abbey Wood Shenfield Romford Ilford Forest Gate Stratford Whitechapel Liverpool Street Farringdon Tottenham Court Road Bond Street PADDINGTON Ealing Broadway West Ealing Hayes & Harlington Slough Maidenhead Reading CONNECTIVITY
9 HOTEL - BAR - RESTAURANT Elizabeth Line via Ladbroke Grove Westfield Notting Hill 3 MINS 30 MINS 6 MINS PORTOBELLO HOUSE KingsCross/StPancras/Eurostar Farringdon Liverpool Street Victoria Station Soho/TottenhamCourtRoad Westfield/Wood lane BondStreet HeathrowAirport Gatwick Airport Ladbroke Grove Portobello Road Paddington 3 MINS 3 MINS 5 MINS 6 MINS 9 10 MINS MINS 15 15 MINS MINS 20 MINS 25 30 55 MINS MINS MINS
SITUATION
Ladbroke Grove is the main road on the route of the annual Notting Hill Carnival and the world famous Portobello Road Market is a 3 minute walk away. The area is thriving with a wide variety of independent retailers, including artisan bakeries, record stores, vintage furniture shops, bars and restaurants – attracting millions of visitors each year.
PORTOBELLO HOUSE 2 17 6 1 10 2 14 12 15 3 1 3 5 4 6 7 11 13 16 4 1 10 3
Ladbroke Grove
Latimer
Road Notting Hill Gate Holland Park
Shepherd's Bush
Westbourne Park
Wood Lane White City
NOTTING HILL
LADBROKE GROVE
NORTH KENSINGTON WESTBOURNE GREEN HOLLAND PARK
SHEPHERD'S BUSH WESTFIELD LONDON
MAIDA HILL
Indicative
7 8 18 19 4 5 20 22 9 21 2 8 9 10 11 12 13 14 15 17 18 19 20 21 22 23 24 16 10 Portobello Road
Not to Scale.
Only.
13 Smythson
16 Aesop
17 Diptyque
18 Anya Hindmarch
19 Derek Rose
20 Jigsaw
21 Aimé
1 The Laslett 2 The Distillery 3 Ravna Gora Hotel 4 The Portobello Hotel 5 The Colonaide Hotel 6 The Premier Notting Hill 7 New Linden Hotel 8 NOX Hotels 9 Hilton London Hyde Park 10 The Main House Hotels 1 Bertie Blossoms 2 White City House 3 Laylow 4 The Oak 5 The Cow 6 Pizza East 7 E&O 8 Osteria Basilico 9 Electric Cinema 10 Ottolenghi 11 Bodyism
12 Spring To Go 13 Chucs 14 Daylesf ord 15 Granger & Co 16 Gold
17 CORE by Clare Smyth 18 Casa Cruz 19 The Ledbury 20 Clarke’s 21 Soul Cycle
22 Sundays in Brooklyn Restaurants, Cafes, Pubs, Gyms
6 7 8 8 8 5
ROUND POND
11
PORTOBELLO HOUSE
Paddington Station Bayswater Royal Oak Lancaster Gate Warwick Avenue Little Venice Water Bus
KENSINGTON GARDENS
Retail 1 Paul Yacomine Atsutshi 2 Sirplus 3 Camilla Elphick 4 PedalShed 5 Bordelle 6 Sister Jane 7 Cubitts 8 Sézane 9 Sunspel 10 Paul Smith 11 Joseph 12 Weekend by Max Mara
14 James Perse 15 Orlebar Brown
9
PALACEGREEN
22 Zadig & Voltaire 23 American Vintage 24 Wild at Heart
Queensway
THE PROPERTY
The building comprises 6,579 sq ft GIA of luxury hotel accommodation with a bistro restaurant and bar arranged over basement, ground and two upper floors. In 2013, the building was extensively renovated the original building into the boutique hotel to provide 12 individually styled en-suite bedrooms alongside a popular bar bistro.
The ground floor bar and restaurant area is arranged around a central island bar with kitchen and WCs situated towards the rear. There are approximately 78 covers over the ground floor with a standing capacity of 200. The lower ground floor comprises a beer cellar, staff changing area and WC, prep kitchen with dumb waiter and night porter accommodation fitted with shower.
Externally there are two seating areas, the ground floor external area for the bar and restaurant and a further separate external area for hotel guests only located on the first floor.
The premises benefits from a rare alcohol licence seven days a week from 11am – midnight.
PORTOBELLO HOUSE 12
6,579 sq ft / 8,068 sq ft consented of luxury hotel accommodation with a bistro restaurant individually styled en-suite bedrooms & planning for a further five rooms covers standing capacity 12/17 78 200 13 HOTEL - BAR - RESTAURANT
EXISTING ACCOMMODATION SCHEDULE
Floor Use Area m2 Area sq ft Number rooms Second Hotel 128 1,372 6 First Hotel 144 1,552 6 Ground Bar & Restaurant 173 1,860 Basement Bar & Restaurant 167 1,794 TOTAL 611 6,579 12 Basement First Floor Ground Floor Second Floor 14
EXISTING FLOOR PLANS
CONSENTED ACCOMMODATION SCHEDULE
CONSENTED FLOOR PLANS
Floor Use Area m2 Area sq ft Number rooms Consented mezzanine Hotel 35 381 Consented third Hotel 103 1,108 5 Second Hotel 128 1,372 6 First Hotel 144 1,552 6 Ground Bar & Restaurant 173 1,860 Basement Bar & Restaurant 167 1,794 TOTAL 750 8,068 17 Additional 1,489 BEDROOM BEDROOM BEDROOM BEDROOM BEDROOM STORAGE BEDROOM BEDROOM BEDROOM BEDROOM BEDROOM BEDROOM BEDROOM BEDROOM BEDROOM BEDROOM BEDROOM BEDROOM BED DECK BED DECK BED DECK KITCHEN LIGHTWELL KITCHEN WC BAR CHESTERTON ROAD NO. 39 BAR KITCHEN WC WC HOTEL RECEPTION Basement First Floor Third Floor Bed Deck Ground Floor Second Floor Key: Demolition Existing structure Proposed structure 15
THE OPPORTUNITY
Immediate vacant possession.
Landmark corner building with period features.
Rare unencumbered freehold.
Planning consent has been granted for an additional floor comprising five further hotel rooms, 3 with mezzanine floors.
New extension provides impressive 4 metre ceiling heights.
Approved scheme provides potential for new hotel entrance to Ladbroke Grove and the addition of a lift serving all floors.
Full basement renovation possible to create private dining/speak easy style space.
Exceptional floor to ceiling heights throughout the building creating spacious hotel rooms and leisure accommodation.
Existing rooms require minimal capital expenditure depending on desired room rate and specification.
Unique opportunity to owner operate one of Notting Hills boutique hotels.
Potential to explore alternative uses such as residential on additional floor.
Indicative CGI Only PORTOBELLO HOUSE 16
Indicative CGI Only 17
PROPOSAL
Offers are invited in excess of £7,000,000 subject to contract and exclusive of VAT.
A sale at this level reflects a low capital value of £867 psf on the consented GIA .
The interest is held in a UK domiciled SPV, further information is available upon request.
FURTHER INFORMATION
TENANCY
Vacant possession.
TENURE
Freehold – title number 265540
EPC
Energy rating of C (valid until June 2031)
VAT
The property is elected for VAT.
DATAROOM
Further information available upon request
PLANNING
The property is located in the Royal Borough of Kensington and Chelsea.
Approved planning application number: PP/21/08020
Additional massing approved for 1,489 sq ft. This will generate a total of 17 rooms (3x with mezzanine floors) benefiting from 4m ceiling heights.
Full info here or scan:
Hugh Ronan Email –hugh.ronan@rx.london Mobile –07891632854 Hele Griffiths Email –hele.griffiths@rx.london Mobile –07944761688 CONTACT www.martinhopkins.co.uk Misrepresentations Act 1967 – Whist all the information in this brochure is believed to be correct, neither the agent nor the client guarantee its accuracy nor is it intended to form any part of any contract. All areas quoted are approximate. All building images are computer generated.
PORTOBELLO HOUSE
Ladbroke Grove, Notting Hill.
