Guide price
£500,000
Restaurant for sale34 Spring Street, Paddington, London W2
Just added
Auction
Leasehold
About this property
Guide Price = £500,000+
**For Sale By Public Auction 10th September 2025 09:30 am. To inspect the legal documents for this property go to our website to download the legal pack**
A Well Located Lower Ground and Ground Floor Restaurant Subject to a Lease Producing £55,000 Per Annum (Rising to £60,000 in 2026)
Tenure
Leasehold. The property is held on a 97 year lease from 24th June 1976 (thus approximately 47 years unexpired).
Location
The property is situated in the highly sought after area of Paddington close to local shops and amenities. The open spaces of Hyde Park are within easy reach. Transport links are provided by Paddington underground (Bakerloo, Circle and Elizabeth lines) and rail stations.
Description
The property comprises a lower ground and ground floor restaurant situated within a terraced building arranged over lower ground, ground and five upper floors.
Accommodation
Lower Ground and Ground Floor
Restaurant Area
Tenancy
The property is subject to an Fri lease for a term of 20 years commencing January 2025 at a rent of £55,000 per annum (rising to £60,000 in January 2026).
Further Information
When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. If you do not fully understand this process, please ask the auctioneers or a solicitor.
**For Sale By Public Auction 10th September 2025 09:30 am. To inspect the legal documents for this property go to our website to download the legal pack**
A Well Located Lower Ground and Ground Floor Restaurant Subject to a Lease Producing £55,000 Per Annum (Rising to £60,000 in 2026)
Tenure
Leasehold. The property is held on a 97 year lease from 24th June 1976 (thus approximately 47 years unexpired).
Location
The property is situated in the highly sought after area of Paddington close to local shops and amenities. The open spaces of Hyde Park are within easy reach. Transport links are provided by Paddington underground (Bakerloo, Circle and Elizabeth lines) and rail stations.
Description
The property comprises a lower ground and ground floor restaurant situated within a terraced building arranged over lower ground, ground and five upper floors.
Accommodation
Lower Ground and Ground Floor
Restaurant Area
Tenancy
The property is subject to an Fri lease for a term of 20 years commencing January 2025 at a rent of £55,000 per annum (rising to £60,000 in January 2026).
Further Information
When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder. This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension. The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. If you do not fully understand this process, please ask the auctioneers or a solicitor.
.png){kind=logo}