Notting Hill Gate connects Bayswater Road at its eastern end with Holland Park Avenue to the west and is about 2 miles from the West End. Notting Hill Gate LT station is a transport hub in its own right. Notting Hill Gate is the main shoppping street in the immediate area serving affluent local residents and office workers. The local shops benefit from the large number of tourists staying in local hotels and visiting Kensington Gardens and Portobello Road market.

62 Notting Hill Gate is in a 100% prime position on the north side of the street between the junctions with Pembridge Gardens and Lindin Gardens and diagonally opposite the Kensington Church Street junction. It immediately adjoins Deep Pan Pizza to one side and Starbucks on the other and is in the same block as Oddbins; Ryman; Dollond & Aithcison; Snappy Snaps; Lloyds Bank and Nat West.

Tenancy : The enitre property is let on normal FRI terms to Reed Solutions plc for a term which was originally for 25 years and which expires on 10 June 2015. The current rent is £62,000 (£100 psf Zone A) and is subject to upward only review in June 2005 and 2010.

Covenant Status : Reed Solutions plc is a wholly owned subsidiary of Reed Executive plc. The tenant company had a turnover for the year ending 29 December 2000 of £50.556 milliam and pre-tax profits of £18.586 million.

Rental Value : The June 2000 review agreement was based on a Zone A rate of £100, in line with other settlements at the time. Since then the adjoining property at No.64 has been let to Starbucks at a rent of £97,500 pa which is a Zone A rate in excess of £150.

Proposal : The freehold interest in 62 Notting Hill Gate is offered for sale subject to and with the benefit of the log lease to Reed Solutions plc.

Price : £837,500 to show a net initial yield of 7% after allowing for purchasers' costs at 5.75%. The letting of the adjoining property suggests a substantial reversion in June 2005, and a yield increasing at that time to over 10%.