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11CONNAUGHT PLACELONDON, W2
RARE WEST END OPPORTUNITY WITH VACANT POSSESSION.
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VIEW FROM HYDE PARK
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VIEW FROM CONNAUGHT PLACE
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SALIENT POINTS
• PrimeWestEndlocation• ImposingstuccofrontedGeorgianterrace• ConnaughtPlaceisaprestigiousaddressoverlookingHydePark• WithincloseproximitytoMarbleArchStationandOxfordStreet’sfacilities• Totalof12,974sqft(1,205sqm)arrangedoverLowerGround,Groundand5UpperFloors• C3Residentialuseon4thand5thfloors,withtheremainderB1Offices• TypicalOfficefloorareacirca1,700sqft(158sqm)• Suitableforanumberofuses,subjecttoplanning• FullVacantPossession,therefore,ofinteresttoDevelopers/InvestorsandOwnerOccupiers• Offersareinvitedinexcessof£19,500,000exclusiveofVAT• Reflectingacapitalvalueof£1,503persqft
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LOCATIONThepropertyislocatedonthesouthernsideofConnaughtPlaceintheheartofLondon’sWestEnd.ItlinksEdgwareRoad,closetoitsjunctionwithMarbleArch,andStanhopePlace.ConnaughtPlaceisanelegantGeorgianterraceoverlookingHydeParkandMarbleArchatthewesternendofOxfordStreet,Europe’sbusiestretailthoroughfare.
MarbleArchisamajorstrategicgatewaytotheWestEndshoppingandleisuredistrict,anditsworldfamousflagshipdepartmentstoresincluding:Selfridges,JohnLewis,Marks&SpencerandHouseofFraser.TheMarbleArchareaisundergoingamajortransformationwiththesuccessfulcompletionofmajordevelopmentssuchas:YorkHouse,MarbleArchHouse(bothbyBritishLand)andOneConnaughtPlace.Thereareanumberofproposedschemeswhichwillenhancetheareafurther.Theseinclude:Almacantur’sproposedmixeduseschemeatMarbleArchTower,aswellasPortlandEstate’stwoschemesat1-4MarbleArchand1-9SeymourStreetdueforcompletionin2017.
Localoccupiersinclude:
SpencerStuart&Associates,HunterBootLtd,RiverPublishingLtd,AlacoLtd,IntercontinentalHotelsGroup,BritishLand,BunzlPlc,GovernmentofSingaporeInvestmentCorporation,FulcrumAssetManagement,AhliUnitedBank,BCPartners,CanadaPensionPlanInvestmentBoardandCabotSquareCapital.
HISTORY OF CONNAUGHT PLACE Until1800,LondonstoppedabruptlyatwhatisnowMarbleArch,withtheunderdevelopedruralparishofPaddingtonspreadingbeyond.Theareawasknownas‘Tyburnia’,synonymousformanycenturieswithpublicexecutionsatthegallowsinHydePark.Theremovalofthegallowsin1783andthedevelopmentoftheGrandUnionCanalfrom1793,encouragedanumberofaristocraticpatronstosupportdevelopmentinthearea.SamuelPepysCockerillwasgivenresponsibilityformasterplanningthedevelopment,includinggrandiosedesignsforwideavenuesandsquares.In1807,thefirstbuildingagreementwasmadebetweenthePaddingtonEstateandJohnLewis(apre-eminentsurgeon),whoplannedtobuildlargefirstclassdwellingsfacingHydePark.ConnaughtPlacewasoneoftheearliestdevelopmentsandtookitsnameafterGeorgeIII’snephew,theEarlofConnaught,boughtthefirsthouseatNo.1ConnaughtPlace.Theremaining12houseswerecompletedby1812,theywereinnovativeintheirdesignwiththeprincipalroomsoverlookingHydeParkwhilstenteredfromtheprivateroadbehind.Thehouseswereregardedasmonumentstoexceptionalhighstandardsandaprominentlandmarkforthearea,laterinfluencingJohnNash’sdesignsforCarltonHouseTerraceandYorkTerrace.
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COMMUNICATIONSThelocationbenefitsfromexcellentpublictransportfacilities,providinggoodaccesstoallpartsofCentralLondon.LondonUndergroundservicesatMarbleArchStation(Centralline)arewithin300m.FurtherLondonUndergroundservicesarereadilyavailableatBondStreet(CentralandJubileelines),EdgwareRoad(Bakerloo,Hammersmith&City,CircleandDistrictlines)andPaddington(Bakerloo,Hammersmith&City,CircleandDistrictlines).
MainlinerailservicesatPaddingtonStation,15minuteswalk,provideaccesstotheFirstGreatWesternrailnetworkcarryingoneandahalfmillionpassengerseveryweekon9,000servicesto276stations.ThisoffersraillinksfromLondontoOxford,Bristol,SouthWestEnglandandWalestothewest,aswellasGatwickAirportandBrightontothesouth.Currentimprovementworkstoelectrifythelinewillimprovetheserviceandincreasecapacityby20%.TheworkbetweenLondonandBristol,includingNewburyandOxford,willbecompletedby2016,withtheroutetoCardiffelectrifiedby2017.
ChilternRailwayservicesrunfromPaddingtontoBirminghamandtheWestMidlands.HeathrowConnectandHeathrowExpressservicesalsorunfromPaddingtonStationofferingadirectconnectiontoHeathrowAirportevery15minutes,withatraveltimeof15minutes.
Numerousbusroutestraversetheimmediatearea,linkingittoawiderangeofCentralLondondestinations.
CROSSRAILFuturedevelopmentintheareaisunderpinnedbytheproximityofCrossrail,Europe’slargestinfrastructureprojectearmarkedforcompletionin2019.Crossrailwillprovidefrequentrailservicesto37stationslinkingMaidenheadintheWesttoShenfieldintheEastandwillincreasecapacityandreducejourneytimestokeybusinessdestinationssuchasHeathrowAirport,Paddington,BondStreet,CityandCanaryWharf.ThispartoftheWestEndwillbenefitfromthemajorupgradeofstationsatBondStreetandPaddington.BondStreetStationisprojectedtobecometheoneofthebusiesttransporthubsinCentralLondondelivering220,000passengerseveryday.Crossrailwillbringanextra1.5millionpeopletowithin45minutesofcentralLondonandwilllinkLondon’skeyemployment,leisureandbusinessdistricts.
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DESCRIPTIONOriginallyconstructedin1812,thepropertyisaGeorgianbrickconstructionwithimpressiveviewsoverHydePark.Thepropertyprovidesmodernairconditionedaccommodationbehindanelegantstuccosouthernfaçade,inkeepingwiththecharacteroftheterrace.
ThemainentrancetothepropertyisviaanimpressiveporticofromConnaughtPlace.Thesinglecoreaccommodatesamainstaircasetoallfloorsanda6personpassengerlift.
Thepropertyprovidesapproximately1,205sqm(12,974sqft)ofhighqualityB1officeandC3residentialaccommodation.Thefloorsarelargelyopenplanandthereisexcellentnaturallightonallfloors.AtLowerGroundlevelthereisamodernglazedtwostoreyinfillextension.Thefloortoceilingheightsarealsogoodthroughout.
Thelandlordspecificationincludes:
• Underfloorandperimetertrunking• VRFheatpumps,comfortcooling• Contemporarylighting• 6PersonPassengerlift• Plasteredceilings• Carpeted• LowerGroundfloorglazedextension• Showers• WCs
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ACCOMMODATIONThepropertyhasbeenmeasuredinaccordancewiththeCodeofMeasuringPractice(6thEdition)byPlowmanCraven,andprovidesthefollowingareas:
FLOOR USE BASIS SQ FT SQ M5th Residential GIA of Residential 982 91 4th Residential GIA of Residential 2,073 193 3rd Offices NIA 1,736 161 2nd Offices NIA 1,738 162 1st Offices NIA 1,652 154
Ground Offices NIA 1,424 132 Ground Reception NIA 418 39
Lower Ground Offices NIA 920 86 Basement Offices NIA 1,625 151 Basement Storage NIA 291 27 Basement Ancillary NIA 115 11
12,974 1,205
ThissurveyisavailableforassignmentwithanappropriateDutyofCareletter.
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5TH FLOOR 5TH FLOOR
4TH FLOOR
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5TH FLOOR
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1ST FLOOR
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RATESThepropertyhasarateablevalueof£400,250.ThepropertyisGradeIIlistedand,therefore,ratesarenotpayablewhileitisempty.
TENANCYThepropertywillbesoldwithfullvacantpossession.
USEB1OfficeswithC3Residentialuseon4thand5thfloorsonly,inaccordancewiththeTownandCountryPlanning(UseClasses)Order1987(asamended).
PLANNINGThepropertyissituatedintheCityofWestminster.ItisGradeIIlistedandwithintheBayswaterConservationArea.
VATThepropertyhasnotbeenelectedforVAT.
ENERGY PERFORMANCE CERTIFICATEThepropertyhasanEPCratingofE108.
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TENUREThepropertyisheldLeaseholdunderTitlenumberNGL685097fromtheChurchCommissionersforEngland.Theleaseisforatermof250years(less5days)startingonthe14thJune1990,andexpiringon9thJune2240(224yearsremaining).
Thecurrentgroundrentpayableis£3,000pa,withfixedupliftsassetoutbelow:
• 1-25years: £1,500pa• 26-50years: £3,000pa• 51-75years: £6,000pa• 76-100years: £12,000pa• 101-125years: £16,000pa• 126-150years: £21,333pa• 151-175years: £28,444pa• 176-200years: £37,925pa• 201-225years: £50,567pa• 226-250years: £67,423pa
Acopyoftheheadleaseisavailableuponrequest.
Theextentoftheleaseholddemiseisasidentifiedontheordnancesurveyextract.
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MARBLE ARCH
LOCATION PLAN
NORTH
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ORDNANCE SURVEY EXTRACT
NORTH
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PROPOSALWeareinstructedtoseekoffersinexcessof£19,500,000(NineteenMillion,FiveHundredThousandPounds),subjecttocontractandexclusiveofVATfortheleaseholdinterest.Apurchaseatthislevelreflectsacapitalvalueof£1,503persqft.
CONTACTForfurtherinformationortoarrangeaviewingpleasecontactthesolesellingagents:
FAREBROTHER27BREAM’SBUILDINGSLONDON,EC4A1DZWWW.FAREBROTHER.COM
NICK WILLSON ALASTAIR HILTON CHARLIE THOMPSONDIRECTLINE: 02078553537 DIRECTLINE: 02078553535 DIRECTLINE: 02078553554EMAIL: [email protected] EMAIL: [email protected] EMAIL: [email protected]
Misrepresentation Act 1967IMPORTANT: These particulars do not constitute either the whole or any part of an invitation, offer or contract in relation to the property described in the particulars. Neither Farebrother, nor its Directors, employees and agents, have authority to make or give any representation or warranty, express or implied, on behalf of any party in relation to the property. Whilst the particulars are given in good faith, intending purchasers or tenants must satisfy themselves independently as to the accuracy of all matters on which they intend to rely. All negotiations are subject to contract. November 2015
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VIEW FROM 5TH FLOOR
