Phoenix, 6 Daventry Street, Marylebone, London, NW1 5NX

Description
The property comprises the ground, basement and two upper floors of a three storey corner building with tiled and brick elevations beneath a pitched and hipped roof.

Location
Located in Marylebone in Central London, 0.7 miles (1.1 miles) north east of Paddington and 0.9 miles (3.1 kilometres) north west of central London.

The Phoenix is situated fronting Daventry Street in a predominantly residential area, 500m west of Marylebone train station and 300m east of Edgware Road underground station. Nearby occupiers include The Green Man, The Bell Inn and The Globe.

Accommodation
Ground Floor: The ground floor provides an open plan trading area with a central bar servery and seating on loose tables, chairs and bench seating for 30 customers. Ancillary areas include a trade kitchen, customer WC's, stores and a 19 bed hostel room.

First Floor: The first floor comprises customer WC's, shower room, boiler room and four rooms with 39 beds.

Second Floor: The second floor comprises customers WC's, shower room, double room and four rooms with 27 beds.

Basement: The basement provides cellar, stores, office, laundry room and two staffrooms.

Tenure
The property is held freehold (Title Number 235050).

Tenancy
The entire property is let to Phoenix Hostels Ltd on a 20 year lease from 18 July 2023 at a current rent of £77,250 per annum which is subject to five yearly open market reviews and annual uncapped RPI (except in the open market review year). A rent deposit of £38,670 is held by the landlord.

Planning
The property is not listed however it is situated within Lisson Grove Conservation Area.

VAT
It is envisaged that the property will be sold as a TOGC so the transaction should therefore be exempt from VAT on the basis the purchasing entity is VAT registered.

EPC
E - 107

Terms
We are instructed to invite offers in excess of £1,150,000 (6.34% NIY) assuming the usual purchasers costs.

Fixtures & Fittings
The fixtures and fittings are currently owned by the occupational tenant.

Money Laundering
Money Laundering Regulations require Savills to conduct checks upon all prospective purchasers. Prospective purchasers will need to provide proof of identity and residence.

Similar Investment Opportunities
If you have an ongoing requirement for similar investment opportunities then please visit the following website for a selection of properties we are currently marketing:

Viewings
All viewings must be made by prior appointment and under no circumstances should any direct approach be made to any of the occupational tenants staff. For further information and all viewing requests please contact the sole selling agents Savills.