stratford place - loopnet...jun-19 seymour mews house union bancaire privee 2nd-5th 15,769 £90...
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STRATFORD PLACELONDON W1
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2 STRATFORD PLACE LONDON W1
A rare opportunity to acquire a Grade II listed, classically
proportioned Georgian property in the heart of prime Central London
STRATFORD PLACELONDON W1
STRATFORD PLACELONDON W1
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STRATFORD PLACELONDON W1
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Historically significant Grade II listed building dating from 1774
Perfectly positioned to enjoy the world renowned amenities of Oxford Street, Bond Street, Mayfair and Marylebone
New long leasehold interest of 150 years at £1 per annum
Approximately 7,366 Sq ft of GIA and 5,415 sq ft of NIA arranged over ground and five upper floors
Property offered with vacant possession
Offers invited in excess of £7,000,000 for a long leasehold interest, reflecting a capital value of £1,292 per sq ft (NIA)
STRATFORD PLACE: UNIQUE LOCATION IN THE HEART OF LONDON’S WEST END
The West End is one of the most desirable office destinations globally and is favoured by various International office occupiers seeking a presence in London. Occupiers include Blackstone Group, Lloyds Private Banking, TPG Europe, Lazard KPMG, The Carlyle Group and SAB Miller. They are attracted to the area by the rich blend of attractive period office buildings alongside modern Grade A accommodation and the extensive amenities. Stratford Place is intrinsically linked with luxury due to it’s close proximity to Bond Street and some of the worlds most famous haute couture houses, jewellers and fine art collections including Chanel, Prada, Cartier, Patek Philippe, Burberry and Louis Vuitton. The property benefits from close proximity to open green spaces that includes the Royal Parks of Hyde Park and Green Park, as well as the famous garden squares of Berkeley Square, Grosvenor Square and Hanover Square.
The West End is home to the largest concentration of globally renowned restaurants, five star hotels and private members clubs in the UK, including Nobu, Hakkasan, The Ritz, The Claridge’s, Annabel’s and Dover Street Arts Club. The London and Oriental Club located moments away from the property at the northern end of Stratford Place.
STRATFORD PLACELONDON W1
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STRATFORD PLACELONDON W1
1 Roka
2 Nobu
3 Hakkasan
4 Scott’s
5 Maze
6 Sexy Fish
7 34 Mayfair
8 Le Gavroche
9 Pollen Street Social
10 Novikov
11 Kurt Geiger
12 Mulberry
13 Coffee Workshop
14 Disney Store
15 Selfridges
16 Daylesford
17 Wallace Collection
18 Liberty London
19 Carnaby Street
LEISURE & CULTURE33 Condé Nast
34 Norges
35 Lazard
36 TPG Europe
37 Blackstone Group
38 Grosvenor
39 KPMG
40 Cain Hoy
41 Bank J. Safra Sarasin
42 Lloyds Private Banking
43 Boston Consulting Group
44 Orion Capital Management
OFFICE OCCUPIERS20 Claridge’s
21 The Connaught
22 The Dorchester
23 Morton’s
24 Annabel’s
25 The Arts Club
26 The Westbury
27 The May Fair
28 The Ritz
29 Brown’s Hotel
30 The Chiltern Firehouse
31 The London and Oriental Club
32 The Ham Yard
HOTELS & CLUBS
EDGWARE ROAD OXFORD STREET
OXFORD STREET
OXFORD STREET
NEW OXFORD STREET
A4202 PARK LANE
A4202 PARK LANE
UPPER BROOK STREET
BROOK STREET
UPPER GROSVENOR STREET
G
ROSVENOR STREET
PORTLAND PLACE REGENT STREET REGENT STREET
ST JAMES’S STREET
PALL MALL
PICCADILLY
P
ICCADILLY
WIGMORE STREET
WIGMORE STREET
CAVENDISH PLACE MORTIMER STREET
M
ORTIMER STREET
TOTTENHAM COURT ROAD CHARING CROSS ROAD
COCKSPUR STREET
SHAFTSBURY AVENUE
SHAF
TSBU
RY A
VENU
E
GEORGE STREET
MARYLEBONE HIGH STREET THAYER STREET JAM
ES STREET
BAKER STREET PORTMAN SQUARE
GLOUCESTER PLACE PARK STREET
NEW CAVENDISH STREETCRAWFORD STREET
BEDFORD SQUARE BLOOMSBURY STREET
THE MALL
WHITEHALL
REGENT STREET ST JAMES'S
NEW BOND STREET
HYDE PARK
GREEN PARK
TOTTENHAMCOURT ROAD
LEICESTERSQUARE
PICCADILLYCIRCUS
GREEN PARK
BOND STREET
MARBLE ARCH
OXFORD CIRCUS
PORTMANSQUARE
MANCHESTERSQUARE CAVENDISH
SQUARE
ST JAMES'SSQUARE GARDEN
HANOVERSQUARE
GOLDENSQUAREGROSVENOR
SQUARE
BEDFORDSQUARE
BERKELEYSQUARE
STRATFORD PL
ST CHRISTOPHER’S PL
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43
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34
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31
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STRATFORD PLACELONDON W1
NEW BOND STREETTUBE ENTRANCE
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CONNECTIVITY
The property has exceptional transport links, sitting above London Underground’s new Bond Street Station ticket hall on the north side of Oxford Street which delivers an entirely new entrance to the station from Marylebone Lane. Furthermore, multiple bus routes run along Oxford Street and Park Lane.
The newly refurbished Bond Street Station acts as a key interchange for Central London, currently providing access to the Jubilee and Central Lines and destined to offer a connection to the new Elizabeth Line services resulting from the Crossrail Project. When the Elizabeth Line fully opens, a train every two and a half minutes at peak time will take passengers all the way through to Heathrow or Reading (via Paddington) in the west and Shenfield (via Stratford) or Abbey Wood (via Canary Wharf) in the east.
MARYLEBONE LANE BOND STREET TUBE ENTRANCE BEHIND 2 STRATFORD PLACE
STRATFORD PLACELONDON W1
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Heathrow Airport
Reading
Shenfield
Abbey WoodCanary Wharf
Stratford
Whitechapel
Romford
Woolwich
London Overground
Farringdon
London Overground
Bond Street
Tottenham Court Road
Liverpool StreetPaddington
Acton Main Line
Ealing BroadwayHanwellSouthall
Hayes & Harlington
Maidenhead
West Ealing
Heathrow AirportTerminal 1, 2 & 3
Heathrow AirportTerminal 4
ELIZABETH LINE
JOURNEY TIMES FROM BOND STREET
Baker Street 2 minsLondon Bridge 8 minsBank 10 minsVictoria 10 mins
Paddington 3 minsFarringdon 5 minsLiverpool Street 7 minsCanary Wharf 13 mins
Waterloo 5 minsKing’s Cross St Pancras 5 minsMarylebone 5 minsEuston 9 mins
London City Airport 27 minsHeathrow Airport 32 minsGatwick Airport 53 minsStansted Airport 130 min
WestRuislip
EalingBroadway
GreenPark
Holborn Bank
SouthKensington
Paddington
Euston
St PancrasInternational / Kings Cross
LiverpoolStreet
TottenhamCourt Road
LeicesterSquare
Waterloo
Elephant & Castle
Morden
CharingCross
LondonBridge
Blackfriars
Farringdon
Stratford
EppingCockfostersHigh Barnet
Edgware
BondStreet
CanaryWharf
StanmoreShenfield
Romford
Abbey Wood
Reading
HeathrowTerminals 2-5
GatwickAirport
LutonAirport
2 Stratford Place
Elizabeth Line
Central Line
Jubilee Line
Piccadilly Line
Northern Line
Thames Link
LONDON CONNECTIONS
STRATFORD PLACELONDON W1
STRATFORD PLACELONDON W1
STRATFORD PLACELONDON W1
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STRATFORD PLACELONDON W1
354-358 OXFORD STREET – CGI OF NEW DEVELOPMENT
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STRATFORD PLACE
Stratford Place is in a unique location between Mayfair and Marylebone and close to London’s world famous Oxford Street. It is a sought after office, leisure and lifestyle address within the West End, offering world class amenities and connectivity.
Occupiers past and present of Stratford Place include: Martin Van Buren (the eighth American President), Edward Lear, The Office Group, Al Rayan Bank and the Oriental Club.
The adjoining property has planning permission for retail use at part basement, ground and first floors and 11 residential units on the second to fifth floors. The new building will dramatically improve the immediate location becoming a gateway property to Stratford Place. Work is due to commence in 2019/20.
Mayfair and Marylebone offer a wealth of amenity provisions from Michelin-starred cuisine to informal eateries, internationally acclaimed retail brands to independent boutiques which has evolved over recent years to remain a globally recognised destination of its own.
GROUND FLOOR CEILING
2 STRATFORD PLACE: CLASSIC GEORGIAN ELEGANCE
Originally constructed in 1774 the terraced property comprises office accommodation over ground to fifth floors.
All floors have excellent light front and back due to frontages to Stratford Place and a rear light well.
The property requires sensitive restoration to emphasise the innate architectural elegance of this historically important Georgian rarity.
The property provides an opportunity for an investor or owner occupier to create a beautiful restoration, personalised to reflect individual characteristics, whilst complementing this unique piece of history.
STRATFORD PLACELONDON W1
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GROUND FLOOR RECEPTION
GROUND FLOOR REAR
FIRST FLOOR FRONT
FIRST FLOOR REAR
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FIRST FLOOR
VACANT POSSESSION
The property is offered with vacant possession.
ACCOMMODATION
The building comprises the following floor areas:
GIA NIA
Floor Sq m Sq ft Sq m Sq ft
Fifth Floor 121.4 1,307 88.7 955
Fourth Floor 138.7 1,493 100.2 1,079
Third Floor 141.5 1,523 122.8 1,322
Second Floor 24.0 258 – –
First Floor 122.6 1,319 94.4 1,016
Ground Floor 136.2 1,466 96.9 1,043
Total 684 7,366 503 5,415
STRATFORD PLACELONDON W1
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The property has been measured in accordance with the Code of Measuring Practice, 6th edition.
Lift
Elec.
Boiler RoomF2.44
F2.43
2.11
9.294.16
4.12
FC 0.36CH 2.45
FC 0.91CH 2.72
FC 0.89CH 2.78
5.56
4.78
5.90
8.57
52.7 sq m568 sq ft
26.7 sq m287 sq ft
17.5 sq m188 sq ft
GROUND FLOOR
2.24
2.232.24
2.27
Lift
SECOND FLOOR
Lift
F2.77
2.98
3.05
FC 0.91CH 1.80
FC 0.85CH 1.76
FC 0.83CH 1.76
5.64
8.86
6.15
8.75
2.87
5.02
55.1 sq m593 sq ft
14.2 sq m153 sq ft
53.5 sq m576 sq ft
Lift
F2.42
2.47
2.40
FC 0.88CH 1.25
FC 0.80CH 1.28
FC 1.05CH 1.23
F2.43
F2.44
2.26
5.67
8.76
8.87
5.69
57.3 sq m617 sq ft
42.9 sq m462 sq ft
Lift
FC 1.038CH 1.27
FC 1.01CH 1.25
2.42
Roof Void
8.88
12.04
THIRD FLOOR FOURTH FLOOR FIFTH FLOOR
FIRST FLOOR
FC 0.16CH 3.29
4.76
FC 0.88CH 1.51
FC 0.89CH 2.78
4.75
2.37
4.77
2.49
FC 0.89CH 2.78
8.60
Lift
Stairs
5.61
4.78
5.99Void
52.9 sq m570 sq ft
13.6 sq m146 sq ft
27.9 sq m300 sq ft
STRATFORD PLACELONDON W1
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Not to scale
FLOOR PLANS
STRATFORD PLACELONDON W1
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Date Address Tenant Floor Area (sq ft) Rent (psf)
Jun-19 Seymour Mews House Union Bancaire Privee 2nd-5th 15,769 £90
Jun-19 40 Grosvenor Place Liberty Commodities 2nd 37,200 £83.50
Jun-19 111 Park Street Landmark Spaces 4th 10,284 £75
May-19 66-67 Newman Street Workpad LG-5th 14,122 £82
Apr-19 1 Soho Place G Research 5th-10th 102,600 £95
Mar-19 30 Berkeley Square Steadview Capital Management 6th 2,700 £250
Mar-19 20 St James’s Street EIG Partners 7th 5,259 £123
Mar-19 14-16 Great Portland Street The Wing 1st - 5th 10,527 £85
Feb-19 25 Berkeley Square Lansdowne Partners 6th - 9th 18,331 £130
Feb-19 55 Wells Street Mayfair Capital 2nd 5,116 £84
Dec-18 Kent House, 14-17 Market Place Sequoia Investment Management 6th 2,760 £88
Dec-18 2 Fitzroy Place Netflix 4th 12,878 £85
Oct-18 65 St James’s Square Whitehall Residences 2nd 2,707 £135
Oct-18 20 Rathbone Place T-Systems 6th 4,188 £90
Sep-18 Smithson Tower, St James’s Street
Pelham Capital 14th 3,577 £202
Sep-18 146 New Cavendish Street London Doyle Hotels 2nd 1,329 £90
Date Property Price Cap Val £ psf Purchaser
Jun-19 66-67 Newman Street £29,500,000 £2,029 Private Investor
Apr-19 39 St James’s Street £5,600,000 £2,147 Crown Estate (LLH Purchase)
Feb-19 17 Grosvenor Street £18,500,000 £1,992 Private Investor
Feb-19 26 St James’s Square £32,000,000 £2,000 Morgan Capital
May-18 11 Upper Grosvenor Street £18,650,000 £2,252 The Capital Partnership
MARKET COMMENTARY
London has continued to witness strong occupational and investment demand from both domestic and overseas investors. The West End market is characterised by a shortage of quality office accommodation to let and for sale. The lack of stock coupled with continued enthusiasm for prime, well-located assets has resulted in rising rents in some submarkets and continued investor demand.
West End investment turnover totals £1.89 bn across 40 transactions in the first half of 2019 (MSCI). Investor appetite is strong for refurbishment opportunities in Central London as developers and owner occupiers look to take advantage of the constricted supply pipeline.
Demand for vacant freehold property in the West End remains unprecedented as illustrated by the below transactions. The strength of this market is driven by owner occupiers wishing to put their mark on a building that reflects their own identity and individuality, whilst ultimately having their own front door.
2 Stratford Place offers owner occupiers the opportunity to invest in a unique location and to create a flagship headquarters office building. Recent deals include:
STRATFORD PLACELONDON W1
EPC
An EPC is available in the data room.
PLANNING
The property is located in the City of Westminster and is Grade II listed with B1 consent.
VAT
The property is elected for VAT.
DATA ROOM
Further information is available in the online data room. Please contact the sales team to request access.
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TENURE
The premises demised under the lease will comprise the existing office building (known as 2 Stratford Place) indicatively shown edged red on the drawing below.
The supporting/transfer structures separating the building from London Underground’s operational estate, all London Underground railway infrastructure, the subsoil beneath the building and the majority of the airspace directly above the building will be excluded from the lease demise.
The lease will contain a right of support from London Underground’s supporting structures subject to the tenant complying with a maximum permissible loading with provisions to protect the safe and efficient operation of London Underground’s railway.
Detailed Heads of Terms for the lease are available in the data room.
Misrepresentation Act 1967Montagu Evans LLP for themselves and for the vendors or lessors of this property whose agents they are, give notice that: (i) The particulars are set out as a general guideline only for the guidance of intending purchasers or lessees and do not constitute the whole or any part of an offer or contract. (ii) All descriptions, dimensions, references to condition and necessary permissions of the use and occupation, and other details are given in good faith without responsibility whatsoever and any intending purchasers or tenants should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) Neither Montagu Evans LLP nor their employees has any authority to make or give any representation or warranties whatsoever in relation to the property. (iv) Unless otherwise stated, all prices and rents are quoted exclusive of VAT and intending purchasers or lessees must satisfy themselves independently as to the applicable VAT position. (v) All the plans and maps provided within the particulars are for identification purposes only. September 2020
STRATFORD PLACELONDON W1
Tracy Collins07831 420 528
For further information or to arrange an inspection of the property please contact a member of the sales team:-
PROPOSAL
We are seeking offers in excess of £7,000,000 for a long leasehold interest, subject to contract and exclusive of VAT. A purchase at this level reflects a capital value of £1,292 per sq ft (NIA).
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STRATFORD PLACELONDON W1
Alex Kirk
07763 934 [email protected]