Prime Central London Residential Investment & Development Opportunity Pembridge Villas Notting Hill London W11 3EP 21 23 &
Pembridge Villas, Notting Hill, London Prime Central London Residential Investment & Development Opportunity
Prime Central London Residential Investment & Development Opportunity
Pembridge VillasNotting Hill
London W11 3EP
2123
&
Pembridge Villas, Notting Hill, London Pembridge Villas, Notting Hill, London Prime Central London Residential Investment & Development Opportunity Prime Central London Residential Investment & Development Opportunity
Location & Transport The property is located in Notting Hill, within the Royal Borough
of Kensington and Chelsea. Notting Hill is a fashionable area
of central London. There is a range of shopping amenities
available on Notting Hill itself, along with fashionable
boutiques, exclusive bars and eateries in the immediate
surrounding area. The world famous Portobello Road is
immediately to the west whilst Kensington Gardens are
approximately 700 metres to the south.
Pembridge Villas is an attractive and exclusive street which
runs north from Notting Hill to Westbourne Grove. The
property is located on the east side, close to the junction with
Chepstow Villas. Pembridge Villas mainly comprises substantial
mid-nineteenth century detached and terraced properties,
some of which remain as superb single houses while others
have been converted into apartments. Some properties are in
commercial use including educational / diplomatic purposes,
such as the subject property.
The area benefits from excellent communications with Notting
Hill London Underground station (Travel Zone 1, Circle &
District, Central Lines) just 500 metres to the south providing
easy access to the West End. Journey times to Oxford Circus
are approximately 8 minutes and approximately 17 minutes
to Bank station in the City. The Central Line also links to
the Piccadilly line which allows access to Heathrow Airport.
A substantial freehold building comprising two adjoining
and interlocking stucco fronted properties with a site area
of 0.32 acres (0.13 hectares)
Let on a full repairing lease to the Russian Federation
for a term certain of 14.5 years at a current rent of
£561,077 per annum
Attractive annual rent reviews linked to the Retail
Price Index (RPI)
Overall gross internal area of 1,101 sq m / 11,846 sq ft
The property is currently operated as a Russian
Curriculum School for diplomats’ children; it also
includes four residential apartments
Located in Notting Hill, within the Royal Borough of
Kensington and Chelsea, close to Notting Hill Underground
Station (Travel Zone 1, Central, Circle
and District Lines)
Various future residential development options
(subject to the necessary consents)
Executive Summary
“An opportunity to own a significant freehold property in Prime Central London, benefiting from both existing income and future development potential”
Summary
Units 2 interlocking period buildings (currently used as a private school & residential accommodation)
Gross internal Area (Sq m / sq ft)
1,101 sq m / 11,846 sq ft
Total Site Area 0.32 acres (0.13 hectares)
Passing Rent (pa) £561,077
Tenure Freehold
T
HE
T
HA
ME
S
HarveyNichols
NaturalHistory
Museum
RoyalAlbert
Hall
V&AMuseum
WestfieldLondon
KensingtonPalace
OLD BO
ND ST
EDGWARE ROAD PARK LANE
GROSVENOR PL VA
UXHALL BRIDGE RD
H
OLLAND PARK AVE
BAYSWATER RD
BAYSWATER RD
OXFORD ST
OXFORD ST
KENSIN
GTO
N C
H
U RCH ST
LADBRO
KE GROVE
KENSINGTON PARK RD
WESTBOURNE PARK RD
CHAPSTO
W RD
WESTBOURNE GROVE
KENSINGTON HIGH STREET
KENSINGTO N RD
CROMWELL RD A4
B
ROMPTON RD
WARW
ICK GRDN S
REDCLIFFE GRDNS
GLOU
CESTER RD
FULHAM RD
A308
A
3217
KING’S RD
SLOAN
E ST CHELSEA BRIDGE RD
CHELSEA EMBANKMENT GROSVENOR RD A3212 MILLBANK
BEAUCH AMP PL PONT ST
ECCLESTON ST BELG�VE RD
P
ICCADILLY
VICTORIA ST
BUCKINGHAM GATE
MARSH
AM ST
ALBER
T EM
BAN
KMEN
T
LAM
BETH
PAL
ACE R
D
VIC
TORI
A EM
BAN
KMEN
T
PALL MALL
WHITEH
ALL
KING
SWAY C
HARIN
G CRO
SS RD
REGEN
T ST
WIGMORE ST
NEW BO
ND ST
BRUTON ST
ST�ND
EXH
IBIT
ION
RD
BROOK ST
GROSVENOR ST
MOUNT ST
WARWICK RD
WAR WICK WAY HAMMERSMITH FLYOVER A315
H
AMM
ERSMIT
H BRIDGE
FULH
A M PALACE ROAD
GOLDHAWK ROAD
A402
UXBRIDGE ROAD A4020
WO
OD
LANE A219 SH
EPHERD
’S BUSH
ROAD A219
WESTWAY A40
PORTO
BELLO ROAD
KENSIN
GTO
N PALACE G
ARDEN
S
HOLLANDPARK
HYDEPARK
KENSINGTONGARDENS
GREENPARK
BERKELEYSQUARE
MAYFAIRST JAMES’S
CHELSEA
NO�INGHILL
BAYSWATER
KENSINGTON
WHITECITY
SOHO
COVENTGARDEN
PICCADILLYCIRCUS
OXFORDCIRCUS
BONDSTREET
MARBLEARCH
LANCASTERGATE
PADDINGTON
QUEENSWAY
NO�INGHILL GATEHOLLAND
PARK
SHEPHERD’SBUSH
KENSINGTONOLYMPIA
GOLDHAWKROAD
HAMMERSMITH
LATIMERROAD
WHITECITY
WOODLANE
SHEPHERD’SBUSH MARKET
HIGH STREETKENSINGTON
EARL’SCOURTWEST
KENSINGTON
WESTBROMPTON
GLOUCESTERROAD SOUTH
KENSINGTON
KNIGHTSBRIDGE
SLOANESQUARE
VICTORIA
PIMLICO
HYDEPARK
CORNER
GREENPARK
ST JAMES’SPARK
LEICESTERSQUARE
CHARINGCROSS
EMBANKMENT
TO�ENHAMCOURT ROAD
WESTMINSTER
KNIGHTSBRIDGE
ST JAMES’SPARK
Harrods
One Hyde Park
�e Ritz
Selfridges
The Lanesborough
BELG�VIA
2123
&
Regent’sPark
WarrenStreet
Farringdon
Barbican
High StreetKensington
Green Park
BakerStreet
NottingHill Gate
Holland Park
Victoria
SloaneSquare
OxfordCircus
BondStreet
Westminster
PiccadillyCircus
CharingCross
Holborn
LeicesterSquare
London Bridge
Knightsbridge
SouthKensington
Marylebone
TottenhamCourt Road
Earl’sCourt
LiverpoolStreet
Bank
Paddington Euston
King’s CrossSt. Pancras
Edgware Road
Embankment
Waterloo
Crossrail (from 2018)
Queensway
GreatPortlandStreet
GoodgeStreet
Not to scale. For illustrative purposes onlyRed line is approximate and for illustrative purposes only
Portabello Market
Pembridge Villas, Notting Hill, London Pembridge Villas, Notting Hill, London Prime Central London Residential Investment & Development Opportunity Prime Central London Residential Investment & Development Opportunity
The City Docklands SerpentineNotting Hill
Hyde ParkThe West EndWestbourne
Grove
2123
&
Pembridge Villas, Notting Hill, London Pembridge Villas, Notting Hill, London Prime Central London Residential Investment & Development Opportunity Prime Central London Residential Investment & Development Opportunity
Description
Originally built as a detached house and adjacent semi
detached house the property is now interconnecting.
The property extends to 1,101 sq m (11,846 sq ft) and
accommodation is arranged over lower ground, ground
and three upper floors at 21 Pembridge Villas, and two
upper floors at 23 Pembridge Villas.
The property is let to the Russian Federation and is currently
used as a Russian Curriculum School, exclusively for the use
of Diplomatic families. The majority of the building is
designated for educational use. However, there are two
residential apartments at the lower ground floor level (a studio
and a one bedroom flat). There is also a one bedroom flat on
the top floor of No.21 and another two bedroom flat on the
second floor of No.23. Each floor boasts impressive floor to
ceiling heights and original period features.
To the rear, the former gardens, which are extensive, have
been combined for use as an open play area including a hard
surface area for tennis and other racket and ball sports.
The subject property is held freehold with the entire site
extending to 0.32 acres (0.13 hectares).
Planning The property is located within the administrative boundaries
of the Royal Borough of Kensington and Chelsea (RBKC).
It has not been the subject of any planning applications
in recent years, with any applications instead relating to
arboricultural works.
Planning policy in RBKC seeks to protect educational facilities,
albeit the focus of this policy is on the safeguarding of schools
which provide for local needs rather than Embassy Schools.
Current RBKC policy is included within the Core Strategy,
which provides over-arching, rather than detailed policy
guidance. The previous detailed policy in the UDP sought
to resist ‘Diplomatic and Allied Uses’ in certain locations,
including at Pembridge Villas, due to the residential character
of the properties and traffic implications on the road network.
In view of the existing and superseded policy, it is considered
that there would be justification for change of use to
residential. However, prospective purchasers are advised to
rely upon their own enquiries.
Floor Plans Overall gross internal area of 1,101 sq m (11,846 sq ft)
23.1m
21.8m
22.2m
DAWSON PLACE
PEMBR
IDG
E PLAC
E
CRESCENT
CHEPSTOW
CHEPSTOW VILLAS
PEM
BRID
GE
VILL
AS
23
10
22
Hall
1 to
7
2
London
Spiritual Mission
16
41
14 to 34
21
27
1113
a
24
25
11
15
1
7
1a
30
1b
11
7
3
1
1c8
Surgery
Chepstow
17
Court
3
Lodg
e
16
1 to 12
12
9
18
Ashd
own
18a
14
14
13
19
Pembridge Studios
1 to 9
12
40
29
Shelter
Shelter
27a
0m 10m 20m 30m
0.32 Acres (0.13 Hectares) 13,941 sq ft.
21 and 23 Pembridge Villas
Ordnance Survey © Crown Copyright 2015. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250
Reception Room14'3'' x 11'9''4.34 x 3.58m
Bedroom13'6'' x 10'9''4.11 x 3.28m
Bed/SittingRoom
17'3'' x 14'3''5.26 x 4.34m
LIFT
10'3'' x 5'9''3.12 x 1.75m
BoilerRoom
20'9'' x 7'9''6.32 x 2.36m
Classroom21'9'' x 17'6''6.63 x 5.33m
Classroom28'3'' x 15'
8.61 x 4.57m
Classroom14' x 13'6''
4.27 x 4.11m
Unableto
Access
11'3'' x 5'3.43 x 1.52m
Classroom16'3'' x 14'3''4.95 x 4.34m
Classroom16' x 14'3''
4.88 x 4.34m
Office10'9'' x 9'
3.28 x 2.74m
Office12'9'' x 7'3''
3.89 x 2.21m13'3'' x 8'6''
4.04 x 2.59mClassroom
14'6'' x 14'3''4.42 x 4.34m
Classroom21'6'' x 15'3''6.55 x 4.65m
Classroom22'3'' x 17'6''6.78 x 5.33m
18'6'' x 9'5.64 x 2.74m
11'6'' x 10'6''3.51 x 3.20m
Classroom14'3'' x 12'9''4.34 x 3.89m
Classroom20'6'' x 14'3''6.25 x 4.34m
10'9'' x 7'6''3.28 x 2.29m
Cloakroom14' x 8'
4.27 x 2.44m
Classroom21'6'' x 17'9''6.55 x 5.41m
Classroom28'9'' x 14'9''8.76 x 4.50m
Office14'9'' x 14'
4.50 x 4.27m
Bedroom16'3'' x 14'6''4.95 x 4.42m
ReceptionRoom
16'9'' x 14'6''5.11 x 4.42m
12' x 10'3''3.66 x 3.12m
ReceptionRoom
10' x 8'6''3.05 x 2.59m
Bedroom14'9'' x 13'
4.50 x 3.96m
Kitchen13'3'' x 8'6''
4.04 x 2.59m
Classroom14'6'' x 14'3''4.42 x 4.34m
Classroom21'6'' x 15'3''6.55 x 4.65m
Classroom17'6'' x 15'3''5.33 x 4.65m
17'6'' x 13'3''5.33 x 4.04m 13'9'' x 8'3''
4.19 x 2.51m
15'6'' x 14'3''4.72 x 4.34m
Ground Floor
Second Floor
Third Floor
Lower Ground Floor
First Floor
Second Floor Mezzanine
NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100024244 Savills (UK) Ltd. NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.
Floorplans provided by BKR Floorplanners.
Pembridge Villas, Notting Hill, London Pembridge Villas, Notting Hill, London Prime Central London Residential Investment & Development Opportunity Prime Central London Residential Investment & Development Opportunity
Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Projected YoY % RPI Growth
1.2 3.0 3.4 3.4 3.4 3.5 3.6 3.6 3.5 3.3
Annual rent for following year if forecast realised
£567,810 £584,844 £604,729 £625,289 £646,548 £669,177 £693,267 £718,224 £743,362 £767,892
Lease
The property is let to the Russian Federation on effective full
repairing terms for a term of 20 years commencing on 1st
January 2010 and expiring 31 December 2029, with a current
rent passing of £561,077 per annum.
The lease is subject to annual rent reviews linked to the Retail
Price Index (RPI). The lease allows for the property to be used
as a private residence or as a school for the children of the
staff or other persons connected with the embassy or consular
services of the government of the Russian Federation in
London or guests of such embassy.
The Russian Federation currently has a D&B rating of O1 which
reflects a minimum risk of business failure.
Using RPI forecasts from the Office of National Statistics and
Haver Analytics the following rental increases are forecasted;
Over the past five years, Prime London has been the
strongest performing UK residential market, with average
values currently 30.8% above 2010 levels. Following the
General Election sentiment remains strong for Notting Hill
due to the quality of the location, built environment and
breadth of amenities.
The Royal Borough of Kensington and Chelsea has seen
particularly significant price growth and is currently 58%
above 2007 levels. Traditionally it has been the core Prime
Central London locations, such as Knightsbridge and Mayfair,
where Super Prime values have been achieved; however,
this has permeated in the past 12 months to neighbouring
locations. Notting Hill now falls within the core of Prime
Central London and benefits from a historic lack of new
build development sites, finite supply and high demand from
wealthy international buyers.
London is forecast to benefit from robust capital growth
with Savills Research forecasting 22.7% growth over the next
five years and 17.1% increase in Prime Central London rents.
London’s global status and political and economic stability
continue to attract ongoing high demand from equity rich
investors and owner occupiers.
The property allows an investor to enjoy an attractive RPI
linked income, as well as potential for good capital growth
prospects during the lease term.
Prime Central London Commentary
Typical classroom
Central London Forecasts
Capital Value: Prime Central London
2015 2016 2017 2018 2019 5 years
1% 8% 6.5% 5% 5% 25.5%
Rental Value: Prime London
2.5% 3.0% 3.5% 3.5 3.5 17.1%
Common Parts
Pembridge Villas, Notting Hill, London Prime Central London Residential Investment & Development Opportunity
Tenure The property is held Freehold.
VATWe understand that the property is not VAT elected.
Method of SaleFor sale on the instruction of R Kerrigan & M Kempton
at Kempton Carr Croft acting as LPA Fixed Charge
Receivers.
The property is offered for sale, as a single lot subject
to the existing lease, by way of informal tender.
Should a closing date for the submission of offers
be set, all parties who have expressed an interest
will be informed in due course.
Viewings In order to keep tenant disruption to a minimum
no internal access will be provided during the
marketing period.
For further information and a full suite of property
data including EPCs please visit:
www.savills.com/pembridgeandclanricarde
Contacts For further information please contact:
Davina Clowes [email protected]
+44 (0) 20 7016 3838
Andrew Boyd [email protected]
+44 (0) 20 7409 9993
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 2015
Rear gardens of the property