CHARLES STREET, MAYFAIRCEMENTED AS THE PLACE TO LIVE, WORK AND PLAY FOR THE WORLD’S WEALTHIEST AND MOST HIGH PROFILE INDIVIDUALS AND ACCORDINGLY REPRESENTS LONDON’S MOST SOUGHT

TO BE OFFERED BY AUCTION ON THURSDAY 28TH MARCH 2019 (UNLESS SOLD PRIOR)ON THE INSTRUCTION OF V LIDDELL MRICS & A KISBY MRICS OF ALLSOP LLP AS JOINT FIXED CHARGE RECEIVERS

CHARLES STREET, MAYFAIR LONDON W1J 5PG

A PRIME RESIDENTIAL BUILDING LOCATED WITHIN THE HEART OF MAYFAIR

INVESTMENT CONSIDERATIONS

~ A rare opportunity to purchase a prime residential opportunity located in the heart of Mayfair

~ Leasehold – Approx. 31 years unexpired

~ Comprising five self-contained flats (1 x studio, 3 x two bedroom & 1 x three bedroom)

~ Net Saleable Area of Flats: 581.6 sq m (6,260 sq ft)

~ Opportunity to extend the existing leasehold interest either by private agreement with the Freeholder or if qualifying by serving a Section 42 Notice

~ The entire building is occupied and the occupier claims to have a three year lease at an initial passing rent of £99,000 per annum (payable in arrears) - Lender to overreach this lease at completion

~ Potential to complete the current programme of works or to undertake further redevelopment / reconfiguration works, subject to obtaining all necessary consents

~ Central Mayfair location adjacent to the Royal Embassy of Saudi Arabia

16.9m

18.1m

15.3m

Posts

TREBECKSTREETHERTFO

RDST

CURZON STREET

Shepherd Market

SHEPHER

MARKET

CHESTERFIELDHILL

CHARLES STREET

CHESTERFIELDSTREET

CLARGES MEW

QUEEN

STREET

HAY'SMEWS

1616a

8

27

15

2

15

17a

15

14

18a

14

18b

Bank

19a

34to36

Bank Curzon

17

Bank

17

39

39

Rosebery1 to 22

15

2

Bank

1

19

3738

39a

13

5

56

4243

46

28

34

36

12

51

Union

25

6

5

EnglishThe

16

Crewe House

Speaking

Hotel

Church

14

Club

20

47a

33

29

1330to32

6

22

28

a

16

14

15

Court

Embassy

48

36

12a

31

16

15

32

13

6

12

39

18

3837

30

19

18

5

17

50

11

21to23

10

9

16

20to

22

12

The Lodge

1a

4648

12

12

10

17 6

0m 10m 20m 30m

Charles Street

33 Charles Street, London, W1J 5EA

Ordnance Survey © Crown Copyright 2019. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250

Outline for indicative purposes only.


For identification purposes only.

For indicative purposes only.

PICCADILLY

THE MALL

BOND STREET

BERKELEY SQUARE

MOUNT STREET GARDENS

NEW BOND STREET

ST. JAMES’S SQUARE

THE LONDON EYE

BUCKINGHAM PALACE

ST. JAMES’S PARK

REGENT STREET

OXFORD STREET

HANOVER SQUARE

MOUNT STREET

PARK LANE

CURZON STREET

GREEN PARK

SOUTH AUDLEY STREET

THE DORCHESTER





LOCATION

MAYFAIR IS HOME TO THE MOST EXCLUSIVE REAL ESTATE IN LONDON AND IS STEEPED IN HISTORY AND HERITAGE. THE AREA IS CEMENTED AS THE PLACE TO LIVE, WORK AND PLAY FOR THE WORLD’S WEALTHIEST AND MOST HIGH PROFILE INDIVIDUALS AND ACCORDINGLY REPRESENTS LONDON’S MOST SOUGHT AFTER RESIDENTIAL ADDRESS. The location is synonymous with London’s finest restaurants, bars, hotels and private members clubs. Exclusive restaurants situated nearby include Scott’s, Sexy Fish, Nobu, Jamavar, Gymkhana, Bellamy’s and The Araki. The area contains some of the world’s most famous hotels – The Ritz, Claridges, The Dorchester, The Connaught and Hilton Park Lane. There are a wide range of London’s private members clubs to choose from including Annabel’s, The Art’s Club, Morton’s, Little House Mayfair, Mark’s Club and 5 Hertford Street.

The area is further famed for its world renowned retailing with nearby Bond Street and Oxford Street hosting an abundance of luxury brands including Cartier, Burberry, Ralph Lauren, Hermes, Chanel, Louis Vuitton, Prada and Tiffany & Co. Mount Street has emerged over the past decade as a niche luxury retailing destination in its own right, home to designers such as Celine, Moynat, Simone Rocha, Marni, Lanvin, Goyard Marc Jacobs, Nicky Clarke and Carolina Herrara.

The extensive open spaces of Hyde Park, Green Park and Royal Parks surround the area and provide added appeal and amenity for its residents.

The property is situated on the southern side of Charles Street, close to its junction with Chesterfield Hill and Queen Street and adjacent to the Royal Embassy of Saudi Arabia.

CONNECTIVITY The property benefits from excellent connectivity being within easy walking distance of both Bond Street (Central and Jubilee lines) and Green Park (Jubilee, Piccadilly and Victoria lines) London Underground stations.

Connectivity will be further improved upon the imminent arrival of the Elizabeth Line (Crossrail), providing a new high frequency, high capacity railway servicing 40 stations improving the east/west link for London and the South East.

Following the arrival of the Elizabeth line, journey times from Bond Street to Liverpool Street and Heathrow will take just 7 minutes and 27 minutes respectively.

ST JAME’S SQUARE

THE SERPENTINE

ST JAMES’S PARK

GREENPARK

BUCKINGHAMPALACE

GARDENS

HYDE PARK

THE MALL

CONSTITUTION HILL

ST JAME’S STREET

PALL MALL

JERMYN STREET

GROSVENOR PLACE

SOUTH CARRIAGE DRIVE

KNIGHTSBRIDGE

HYDE PARK CORNER

KNIGHTSBRIDGE

3

ST JAMES’S

1

7

1

3

76

4

SQUARE

HANOVER

SQUARE

BERKELEY

SQUAREMOUNT STREET

GARDENS

CURZON STREET

MOUNT STREET

CHARLES STREET

STRATTON STREET

BERKELEY STREET

DAVIES STREET

GROSVENOR ST

BRUTON STREET

NEW

BON

D STREET

FARM STR

EET

BOND STREET

MAYFAIR 4

8

7

10

3

1

1

10

1213

5

3

4

1

6

GROSVENOR

PICCADILLY

OLD BO

ND STREET

SOU

TH A

UD

LEY STREET

OXFORD STREET

OXFORD STREET

CON

DUIT ST

REET

REGEN

T STREET

SOUTH STREET

PARK LANE

MARBLE ARCH

OXFORD CIRCUS

2

9

6

2

3

4

5

9

11

2

2

5

PICCADILLY

PARK STREET

SAVILE ROW

PICCADILLY CIRCUS5

11

814

2

WEST END

PARK LA

NE

GREEN PARK

6

KEY● Restaurants

1. The Greenhouse2. Le Gavroche3. Hakkasan4. Nobu5. Cecconi’s6. Sketch7. Sexy Fish8. Jamavar9. Gymkhana10. Bellamy’s11. The Araki

● Hotels

1. The Mayfair Hotel2. Brown’s Hotel3. The Dorchester4. The Hilton5. The Metropolitan6. Four Seasons7. The Ritz8. Le Meridien Piccadilly9. The Westbury10. Claridge’s11. Marriott Grosvenor Square12. Millennium Hotel13. The Connaught14. Grosvenor House

● Retail

1. Fortnum & Mason2. Burlington Arcade3. Harvey Nichols4. Harrods5. Fenwick6. Liberty7. Selfridges

● Places of Interest

1. Buckingham Palace2. Royal Academy3. St Jame’s Palace

● Member’s Clubs

1. Annabel’s2. The Art’s Club3. Little House Mayfair4. Morton’s 5. 5 Hertford Street6. Mark’s Club





CONDITIONWe understand that the flats have been undergoing reconfiguration / refurbishment but these works have not been completed. A selection of recent internal photographs illustrating the general condition of the flats can be found within the auction legal pack.

TENURE The property is held by way of a leasehold interest expiring on 21 June 2050 – thus having approximately 31 years unexpired. The current ground rent payable is £3,000 pa. The ground rent payable will increase to £6,000 pa on 24 June 2032. It is believed that the seller was assigned the benefit of notices served on the Freeholder

under Section 42 of the Leasehold Reform, Housing and Urban Development Act 1993 (“the Act”) in order to secure an additional term of 90 years under five separate underleases; each for an individual flat. The status of those notices is unknown but there may be an opportunity to extend the existing term of the underlease either by private agreement if terms can be agreed with the Freeholder or if qualifying under the Act. Please refer to the Auction legal pack for further information.

TENANCIESThe property is believed to be occupied by an individual who claims to be a tenant pursuant to an underlease on FRI terms, for a term of years beginning (and

including) 25th January 2019 and ending on (and including) 23rd January 2022. The rent is said to be paid annually in arrears and is £99,000 p.a for the first year, £150,000 for the second year and £200,000 in the third year. The lender did not consent to the grant of the underlease and it will be overreached on completion.

The lender is entitled to immediate possession of the property and may commence possession proceedings against the occupier. The purchaser will be entitled to be substituted as the Claimant in the possession proceedings if it wishes. Please see the auction legal pack for further details.

DESCRIPTION33 Charles Street is a period building arranged over basement, ground and four upper floors. Currently, the property is arranged as five self-contained flats.

The second, third and fourth floors extend above the commercial premises at 13-14 Queen Street. Please refer to the Title documents for further information.

The basement, ground, second, third and fourth floors benefit from lift access.

We understand that the basement studio flat has been created without obtaining the necessary Local Authority or Freeholder consents.

Demised premises fronting Queen Street. Outline for indicative purposes only.

FLAT No. FLOOR DESCRIPTION GIA SQ FT GIA SQ M

Basement Studio - under construction 600 55.7

1 GF & FF2 bedrooms, kitchen, reception room, bathroom, shower room, balcony

1,004 93.3

2 2F3 bedrooms, kitchen, reception room, bathroom, 2 shower rooms

1,558 144.7

3 3F2 bedrooms, kitchen, reception room, bathroom, shower room

1,588 144.7

4 4F2 bedrooms, kitchen, reception room, bathroom, shower room

1,540 143.1

Total 6,260 581.6

The quoted individual Net Saleable Floor Areas of each flat have been obtained from a recent valuation report prepared by Savills (UK) Limited. Purchasers should satisfy themselves as to the accuracy of these measurements. February 2019.



FLOOR PLANS

BASEMENT FIRST FLOOR

THIRD FLOOR FIFTH FLOOR

GROUND FLOOR SECOND FLOOR

FOURTH FLOOR

For identification purposes only.

Lift

CH2.60m

Reception Room4.68 x 4.01m15'4 x 13'2

BasementFlat

CH2.76m

MasterBedroom

5.06 x 4.90m16'7 x 16'1

Bedroom3.73 x 3.18m12'3 x 10'5

Kitchen5.03 x 2.77m

16'6 x 9'1

Lift

ReceptionRoom

8.56 x 7.77m28'1 x 25'6

Flat 3


Kitchen

CH3.02m

Lift

CommunalHall

Flat 1

CH2.76m

Lift

ReceptionRoom

8.52 x 7.79m27'11 x 25'7

Bedroom3.77 x 3.19m21'4 x 10'4

Bedroom4.92 x 4.91m16'2 x 16'1

Kitchen4.88 x 2.73m16'0 x 8'11

Flat 4

Master Bedroom4.41 x 4.11m14'6 x 13'6

Bedroom5.37 x 4.06m17'7 x 13'4

Balcony

LiftShaft

Flat 1

CommunalTerrace

10.50 x 7.37m34'5 x 24'2

LiftPlantRoom

CH2.91m

Lift


Bedroom3.31 x 3.18m10'10 x 10'5

Bedroom5.09 x 4.47m16'8 x 14'8

Bedroom5.06 x 3.40m16'7 x 11'2

Kitchen2.90 x 2.21m

9'6 x 7'3Flat 2

Approximate Gross Internal Area (including common parts) 642.70 sq m / 6,918 sq ft

Rooftop WC and Plant8.81 sq m / 95 sq ft(Including Lift)

Total areas shown on plan651.51 sq m / 7,013 sq ft

These plans are not to scale and are guidance and cannot be relied upon.

All measurements and areas are approximate only, and have been prepared in accordance with the current edition of the RICS Code of Measuring Practice by ‘Fulham Performance’.


CONTACTS

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD www.commandHQ.co.uk 02.19

allsop.co.uk

OWEN REES020 7344 2643

[email protected]

ADAM KERVEN020 7344 2628

[email protected]

ANTHONY DIXON020 7344 2625

[email protected]

ZOE BAXTER020 7344 2629

[email protected]

EPCsIndividual EPC’s for Flats 1-4 are available within the

auction legal pack. EPC ratings: 2 x C; 2x D.

VATThe property is not elected for VAT.

VIEWING INFORMATIONIf possible we will be undertaking vewings during the course of marketing. If you wish to internally inspect the property

please register your interest with our office and we will notify you of an inspection time if this is possible.

PROPOSALOffers in excess of £6,000,000 are invited for the leasehold interest,

subject to the existing lease and subject to contract.

NB. The property is to be offered by Auction on Thursday 28 March 2019 (unless sold prior) at The Intercontinental Hotel, Park Lane, London, W1.

TO BE OFFERED BY AUCTION ON THURSDAY 28TH MARCH 2019 (UNLESS SOLD PRIOR)ON THE INSTRUCTION OF V LIDDELL MRICS & A KISBY MRICS OF ALLSOP LLP AS JOINT FIXED CHARGE RECEIVERS

RESIDENTIAL INVESTMENT TEAM RESIDENTIAL AUCTION TEAM

WARRANTIESThe property is being sold on behalf of the Receivers

and is sold without Warranty or Guarantee.

The property is being sold ‘as seen’.

PLANNINGLondon Planning Authority Westminster City Council

Website: www.westminster.gov.uk

AUCTION LEGAL PACKThe following documents are available at will be

available to download as part of the auction legal pack: • Title documents • Floorplans • EPCs •

• Copy Lease • Sample internal photographs •

ASSET MANAGEMENT OPPORTUNITIES• Complete the ongoing building works • Potential to change the use and configuration of the property into a single residence, subject to obtaining all necessary consents •

• Potential to operate the building as serviced apartments, subject to obtaining all necessary consents • Carry out lease extension •

Documents

CHARLES STREET, MAYFAIRCEMENTED AS THE PLACE TO LIVE, WORK AND PLAY FOR THE WORLD’S WEALTHIEST AND MOST HIGH PROFILE INDIVIDUALS AND ACCORDINGLY REPRESENTS LONDON’S MOST SOUGHT