THE FITZROVIA PORTFOLIO - images1.loopnet.com€¦ · THE FITZROVIA PORTFOLIO LOO, 1 THE FITZROVIA PORTFOLIO 1-3 & 14 CHARLOTTE STREET AND 31 & 32 PERCY STREET LONDON, W1 Rare opportunity

THE FITZROVIA PORTFOLIO LONDON, W1

THE F IT ZROVIA PORTFOLIO1 -3 & 14 CHARLOT TE STREE T AND 31 & 32 PERCY STREE T

LONDON, W1

Rare opportunity to purchase 4 Fitzrovia freeholds either individually or as a portfolio


PORTFOLIO SUMMARY

* Adopting proposed area

1-3 Charlotte Street W1 14 Charlotte Street W1 31 Percy Street W1 32 Percy Street W1 TOTAL

Area sq ft (GIA) 4,109 (5,071) 2,387 (2,735*) 3,092 (4,028) 3,167 (3,455) 12,755 (15,289)

Area sq m (GIA) 381.7 (471.1) 221.8 (254.1) 287.2 (374.2) 294.2 (321.0) 1,184.9 (1,420.4)

Price £10,500,000 £4,500,000 £4,600,000 £4,600,000 £24,200,000

Capital Value (£psf) £2,555 (£2,071) £1,885 (£1,645) £1,488 (£1,142) £1,452 (£1,331) £1,897 (£1,583)

Net Initial Yield 2.67% 1.91% 2.81% N/A 2.05%

Reversionary Yield 3.06% 4.08% 3.43% 3.66% 3.43%


31 PERCY STREET

32 PERCY STREET14 CHARLOTTE STREET

1-3 CHARLOTTE STREET


LOCATION

TRANSPORT LINKS

Fitzrovia is one of central London’s most vibrant and diverse districts attracting numerous major office occupiers including Netflix, Facebook, Estée Lauder, Capita and Arup.

Occupiers are attracted to the destinations dynamic mix of contemporary restaurants, namely Roka, Hakkasan, Meraki, Berners Tavern, and Yopo. Additionally, there are a number of fashionable hotels in the area including The Charlotte Street Hotel; The London Edition; The Mandrake; and The Sanderson.

Unrivalled connectivity with 6 central London underground stations within close proximity (Euston; Euston Square; Goodge Street; Great Portland Street; Tottenham Court Road; & Warren Street) providing access to the Central, Circle and District, Metropolitan, Northern and Victoria lines as well as National Rail services. Elizabeth line services will be operational in 2021 from nearby Tottenham Court Road Station.

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THE FITZROVIA PORTFOLIO


1-3 CHARLOTTE STREET

TENANCY

Fully let in accordance with the tenancy schedule below:

TENURE

Freehold.

Comprising a highly prominent recently refurbished mixed use corner building arranged over lower ground; ground; and 4 upper floors.

The retail accommodation is self contained with the offices separately accessed and benefitting from a passenger lift serving all floors. Office amenities include exposed air conditioning; perimeter trunking; parquet flooring; wc’s on every floor and shower facilities.

FLOOR USE TENANT GROSS AREA SQ FT

NET AREA SQ FT

LEASE START

LEASE EXPIRY

RENT PA (PSF)

ERV (PSF)

Fourth OfficeYupana Systems

759 593 11.03.19 10.03.21£52,190

(£88.00)£53,370 (£90.00)

Third OfficeBreather Products

759 593 09.10.17 08.10.22£47,585 (£80.24)

£51,887.50 (£87.50)

Second OfficeBreather Products

759 593 09.10.17 08.10.22£47,585 (£80.24)

£50,405 (£85.00)

First OfficeYupana Systems

759 593 11.03.19 10.03.21£52,190

(£88.00)£50,405 (£85.00)

Ground + Lower Ground

RetailAndrew Jose

2,035 1,737 20.09.07 31.12.28£100,000

(£57.57)£137,500

(£79.16)

Total 5,071 4,109 £299,550 £343,567.50


1-3 CHARLOTTE STREET Not to scale. Indicative only.

3rd Floor1st Floor

Ground Floor

Lower Ground

2nd Floor 4th Floorup

up

up

up

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Courtyard

Office Office

Office Office

Retail

Retail

CHARLOTTE STREET

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Courtyard

Office Office

Office Office

Retail

Retail

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Courtyard

Office Office

Office Office

Retail

Retail

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Office Office

Office Office

Retail

Retail

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Office Office

Office Office

Retail

Retail

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Office Office

Office Office

Retail

Retail


14 CHARLOTTE STREET

TENANCY


TENURE

Freehold.

Prominently positioned at the junction of Charlotte Street and Windmill Street and arranged to provide a restaurant at ground and lower ground floors with 3 vacant, separately accessed residential apartments above.

Planning permission had previously been obtained for a new fourth floor creating two 2 bedroom duplex apartments with roof terrace serving the top apartment.

FLOOR USE TENANT AREA SQ FT

LEASE START

LEASE EXPIRY

RENT PA (PSF) ERV

Fourth* Residential Vacant 348£52,190

(£85.00)£26,000

(£500 pw)

Third Residential Vacant 486£47,585 (£77.50)

£26,000(£500 pw)

Second Residential Vacant 532£47,585 (£77.50)

£26,000(£500 pw)

First Residential Vacant 507£52,190

(£85.00)£26,000

(£500 pw)

Ground + Lower Ground

RestaurantVanida Walker

862 25.12.2003 24.12.2023£92,000 (£106.73)

£92,000 (£106.73)

TOTAL 2,387 £92,000 £196,000

PROPOSED TOTAL 2,735

* Previously consented area


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Restaurant

Store

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Bedroom

RestaurantPlant Room

Bedroom 1

Bedroom 2Kitchen/Living/Dining

wc

Bedroom 1


14 CHARLOTTE STREET Not to scale. Indicative only.

2nd FloorGround Floor

Lower Ground 1st Floor 3rd Floor

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Restaurant

Store

Store

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WINDMILL STREET

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31 PERCY STREET

TENANCY


Comprising a recently refurbished mid-terrace mixed use property arranged over lower ground; ground; and three upper floors.

Office amenities include air conditioning; underfloor trunking; LG7 lighting; shower facilities and private ground floor rear terrace.

Opportunity to increase the lettable floor area by extending the demise over the rear terrace.

FLOOR USE TENANTNET AREA

SQ FT (GROSS)

LEASE START

LEASE EXPIRY

RENT PA (PSF) ERV COMMENTS

Third ResidentialHarley Street Homes

621 28.06.19 27.06.24£30,030

(£577.50 pw)£26,000

(£500 pw)

Mutual break 03.01.21 on 3 months notice.

Second Office Galloways Ltd573

(746)14.11.18 31.12.20

£25,000 (£43.63)

£34,380 (£60.00)

Rent inclusive of service charge.

First OfficeDiamond Management

678 (784)

09.05.18 08.05.21£26,000 (£38.35)

£44,070 (£65.00)

Break option 01.01.2021.

Ground OfficePortdevon Holdings LLP

678 (1,083)

07.12.17 08.12.20£36,063 (£53.19)

£42,375 (£62.50)

Tenant served notice to terminate on 08.12.20.

Lower Ground

OfficeJohn Walsh Associates

542 (794)

02.11.17 04.11.20£21,000 (£38.75)

£21,680 (£40.00)

Tenant served notice to terminate on 04.11.20.

Total 3,092 (4,028) £138,093.00 £168,505.00

TENURE

Freehold.


31 PERCY STREET Not to scale. Indicative only.

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Office

Kitchen

Office

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void

KitchenCourtyard

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Office

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Office

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Bedroom

Reception Room/Kitchen

Bedroom

Terrace

3rd Floor1st FloorGround FloorLower Ground 2nd Floor

PERCY STREET

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Kitchen

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Bedroom

Terrace


32 PERCY STREET

TENANCY

Currently vacant floor areas are as follows:

TENURE

Freehold.

Comprising a newly refurbished self contained Georgian office property arranged over lower ground; ground and three upper floors.

Newly refurbished, the premises benefits from excellent natural light. Amenities include combination of wood and carpet covered floors; shower facitilies; modern lighting; period features in part; video entry phone.

FLOOR USE GROSS AREA SQ FT

NET AREA SQ FT ERV (PSF)

Third Office 629 468£23,400 (£50.00)

Second Office 709 537£32,220 (£60.00)

First Office 688 556£36,140

(£65.00)

Ground Office 1,323 886£55,375 (£62.50)

L. Gound Office 1,066 720£32,400 (£45.00)

TOTAL 3,455 3,167 £179,535


32 PERCY STREET Not to scale. Indicative only.Not to scale. Indicative only.

3rd Floor1st FloorGround FloorLower Ground 2nd Floor

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Office

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Kitchen

Kitchen

PERCY STREET


CONTACT

Mark Shipman

020 7529 5708

[email protected]

Richard Goldstein

020 7529 5713

[email protected]

Peter Ng

+0065 9638 5255

[email protected]

Declaration: Michael Elliott for themselves and for the vendors of this property whose agents they are given notice that: a) the particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; b) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them; c) no person in the employment of Michael Elliott has any authority to make or give any representations or warranty whatever in relation to this property. July 2020 (Q4603)

Not to scale. For identification purposes only. This plan is based upon the Ordnance Survey Map with the sanction of the controller of H.M. Stationery Office. Crown Copyright reserved.

Documents

THE FITZROVIA PORTFOLIO - images1.loopnet.com€¦ · THE FITZROVIA PORTFOLIO LOO, 1 THE FITZROVIA PORTFOLIO 1-3 & 14 CHARLOTTE STREET AND 31 & 32 PERCY STREET LONDON, W1 Rare opportunity