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14 Meard Street with Royalty Mansions + 8

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14 Meard Street with Royalty Mansions + 8 8 – 14 MEARD STREET WITH ROYALTY MANSIONS + 8 RICHMOND MEWS LONDON 1 The first occupants of the newly created Meard Street in 1732 included a harpsichord maker, a Reverend, a writer, a painter, a composer and a drunk. It seems as though Meard Street has always attracted eclectic and artistic residents 2 Executive Summary > 0.22 acre property with development potential in the heart of Soho in Central London > Benefits from a 25 metre frontage onto the part- pedestrian Meard Street, as well as vehicular access to the rear at Richmond Mews > Provides an excellent opportunity for either refurbishment, extension or redevelopment subject to obtaining the necessary consents > The property comprises three parts totalling 24,567 sq ft NIA and 32,008 sq ft GIA, arranged as follows: 8 – 14 Meard Street - Freehold - Light industrial, office and ancillary B1(c) use totalling 13,275 sq ft NIA and 19,937 sq ft GIA. - Vacant possession in December 2016. Royalty Mansions – Freehold - Residential uppers of 8 - 14 Meard Street, comprising 12 apartments accessed from Meard Street, totalling 8,869 sq ft NSA and 9,224 sq ft GIA (estimated). - Leased to Soho Housing Association expiring December 2026. 8 Richmond Mews – Leasehold - Light industrial, office and ancillary B1(c) use totalling 2,423 sq ft NIA and 2,847 sq ft GIA. - Vacant possession in December 2016 > Seeking offers inexcess of £20 million, subject to contract. 5 4 British Museum Tottenham Court Road THE PROPERTY The City Piccadilly Circus London Bridge Waterloo Oxford Street Soho Square Covent Garden 7 6 The Property Location Meard Street is part-pedestrianised and connects Wardour Street and Dean Street in REGENT STREET bustling Soho. The street is defined by its quiet R FITZROVIA E and historic nature, benefitting from terraced MANCHEST CAVENDISH Georgian properties on both north and south E T TOTTENHAM COURT ROAD UARE S T R E sides, which were originally laid out and built in S Q O RE WIGM T AN A RE SQU 1732 by John Meard. PORTM XFORD STREE MARYLEBONET O E S T R E O RE Soho of the modern day is renowned as WIGM RE T OXFORD CIRCUS the central London home for fashionable SQUA E T restaurants, cosmopolitan bars, boutique hotels OXFORD STREE and unique retailers. Its position within the West R T BOND STREET HANOVE E AT MARLBOROUGH STRE End makes it a convenient location not only GR OXFORD STREE for those who live or work in the area, but also RE N ORTH AUDLEY SQUA for the millions of tourists who are attractedMARBLE ARCH to SOHO Oxford Street and Regent Street. PA R Around 500,000 people per week visit the R S T R E E T K NEW BOND STRE EGENT STREET S TREET OR DAVIES STREET area from Oxford Circus to Piccadilly Circus DEN VEN L S O GRO O R S T R E E T G S VEN U I T S T R E E T and Leicester Square, with Soho providing a D E GRO AR LEICESTER SQUARE QU permeable thoroughfare for these journeys. CON S S A V I L E R O ET P A R K L A N E Soho’s character is defined by historic and A RE S QU REET W S T traditional buildings juxtaposed with a lively N P A R K SOUTH AUDLE and risqué reputation, drawing those looking for BRUTO BE PICCADILLY CIRCUS S TREET R K entertainment into its densely packed streets. ET ELE O L D B O RE BURLINGTON S Y DO M O U N T S T Q Y S T R E E T UA V E N RE R S T R E E T AL OY DE D R CA S T R E E AR Y A R BERKELE CAD T E T P A R K L A N PICCADILL MAYFAIR T Y S T R E E T S T R E E E JERMYN ST A R L E S S T R E AMES’S R J CH A ST T E TO N S TREE T GREEN ST JAMES STREE L S QUARE S TREET PARK CURZON P A L L M A L HYDE PARK T ST JAMES’S PICCADILLY GREEN PARK E M A L L TH HYDE PARK CORNER C O N S T I T U T I O N H I L L ST JAMES’S BUCKINGHAM PARK GROSVENOR PL PALACE GARDENS A 9 CE 8 BELGRAVIA History Soho is a unique pocket of London, most famous for its colourful past as well as its vibrant present. The film industry dominated the area from at least 1908 when colour film pioneer Charles Urban moved into offices on Wardour Street. By 1970 all large film companies occupied space in Soho, although at the same time Soho’s other major occupation was as a red light district, up until the mid-1980’s when the Council imposed a clamp down of illicit and illegal uses. At this point Soho became a hub for the “pink pound” with shops and bars being run by the gay community. A mix of traditional pubs and late night venues combined with new fashionable bars and clubs playing host to a diverse array of people. Meard Street itself played host to the Gargoyle Club, a venue which boasted members such as Fred Astaire, Dylan Thomas, Francis Bacon and Lucian Freud. Soho was also a hangout place for countless famous musicians over the decades, including The Beatles, The Rolling Stones and Jimi Hendrix. 11 10 Residential Office Retail Hotel The Property Occupiers Built on its creative and diverse reputation, Soho has historically been a popular location for music and media businesses, and retains this interest with companies such as M&C Saatchi, Sony, Warner Music and Twitter occupying offices in the area. More recently, Soho has become an overflow location for financial and corporate office occupiers, art galleries and fashionable hotels who are finding the neighbouring Mayfair market somewhat staid, overpriced and inconsistent with their brand. 13 12 A nine year old W.A. Mozart was a resident at 20 Frith Street in 1764 while he was touring with his father around Europe. Landscape painter John Constable also lived on Frith Street during the early 19th century. Italian painter Canaletto lived in Soho until he returned to Venice in 1756. Casanova, the famous Italian lover, used to live on Greek Street during his stay in London. German philosopher and revolutionary Karl Marx lived with his family at 28 Dean Street. Lifestyle Development Densely packed, Soho is a playground of places to eat, drink and be Soho has matured over the last 10 – 20 years as demand has grown entertained. Soho provides a diverse range of cuisines from cutting edge for central London commercial and residential property. The area has restaurants such as NOPI or Chotto Matte to perfectly unchanged cleaned up and catered for this demand, capitalising on its excellent bistros like Quo Vadis or Andrew Edmunds. The bar culture also covers location and vibrant character. This has encouraged and enabled the spectrum from traditional mobile phone-barred The French House significant redevelopment across substantial new build schemes as well to glitzy Bob Bob Ricard to tequila aplenty in the Pink Chihuahua. Soho as piecemeal improvements in single properties. includes within its boundaries over nine theatre venues, the legendary Detailed on the next page are some of the most notable recent Ronnie Scott’s Jazz Club, and plays host to comedy clubs most nights developments in Soho alone. These include Soho 13, Ampersand Building of the week. The area is the perfect base for experiencing the London and 30 Broadwick Street. 15 14 lifestyle and for exploring the wider city, with top hotels such as Hotel Cafe Royal, Ham Yard, Soho Hotel and the Dean Street Townhouse by Soho House opening in recent years. 73 - 89 Oxford Street 81 Dean Street Great Portland Estates Circleplane 19 residential apartments and 88,000 sq ft office and retail. restaurant or retail use. Completes 2017. Completes 2017. Soho 13 47 - 50 Poland Street Broadwick Street 30 Broadwick Street Shiva Hotels Barratt & United House Great Portland Estates c.50,000 sq ft property providing 150 92,400 sq ft office and retail 65 affordable homes, 13 private bedroom hotel with ancillary bars and development. penthouse apartments with restaurants. Completes 2017. 8,000 sq ft retail. Completes 2018 Completes 2016. Centre Point Quadrant 4 Almacantar & Frogmore Crown Estate 82 luxury apartments with over 48,000 Retail, office and 38 residential sq ft of new retail at podium level. apartments. Completes 2016. Completes 2016. Ampersand Building SeventySix Wardour Street Wardour Street 1 Oxford Street Resolution Property & Legal & General & Derwent London Peterson Group Walbrook Land 204,000 sq ft offices, 37,000 sq ft retail and 350 seat cinema. 66,400 sq ft office, 20,000 sq ft retail Over 32,000 sq ft office with Completion due after Crossrail. and residential penthouses. ground floor retail. Completes 2018. 17 16 Completed 2015. Completed October 2013. Planning & Redeveopment Potential The property is located within the City of Westminster, falls within the Soho Conservation Area and is unlisted. It is also identified as being within the ‘Core Central Activities Zone’ (CAZ). The massing of the existing property suggests further density could be added to the site, and on this basis massing studies have been undertaken by architects HOK in conjunction with rights of light analysis, available on request. Savills have undertaken a planning appraisal of the property which assesses the potential uses which could be accommodated on the site should it be redeveloped.
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