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Cavendish Square London W1

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Cavendish Square London W1 CAVENDISH SQUARE LONDON W1 An elegant eight storey Edwardian building, overlooking one of London’s most eminent garden squares in the heart of the West End Executive Summary • Prestigious freehold investment opportunity with significant future development potential • An elegant eight storey Edwardian building overlooking one of London’s most eminent garden squares in the heart of the West End • Currently utilised by a mix of residential and commercial uses • The property comprises approximately: - 5,254.8 sq m (56,562 sq ft) net internal area of commercial space, including office (B1) and medical (D1) - 689.1 sq m (7,419sq ft) gross internal area of residential space • Prime location close to Oxford Street and Mayfair as well as Harley Steet and Portman Square • The building is let to 17 tenants, generating a net income of £2,397,145 per annum. Full vacant possession is available in December 2015 • Significant opportunity to explore a high quality residential or office redevelopment, as well as conversion to full D1 use, subject to the usual consents • Offers sought in excess of £60,000,000 (Sixty Million Pounds) for our client’s freehold interest. A purchase at this level reflects a net initial yield of 3.78% and a capital value of £951 per sq ft assuming standard purchaser’s costs of 5.8% Prominently Situated Hyde Park Marble Arch Park Lane Portman Square Grosvenor Square Manchester Square Oxford Street Wigmore Street Bond Street Harley Street Hanover Square Cavendish Square Regent Street Oxford Circus Location Situation Cavendish Square is one of Central London’s most prestigious garden squares located just north of Oxford Circus, in the heart of London’s West End. O U T E The square dates back to the 1700s when it was R C I R originally laid out for the 2nd Earl of Oxford. The C L square was named after the Earl’s wife - Henrietta The property boasts a highly prominent position, dominating the western E side of Cavendish Square. Cavendish Square is situated just 150 metres PLACE GLOUCESTER Cavendish - Holles. BALCOMBESTREET north of Oxford Street and Oxford Circus and adjoins Harley Street and The property is on the doorstep of Mayfair which Wigmore Street from the north western corner. plays host to the prime retail destinations of Bond HAMPSTEAD RO HAMPSTEAD Street and Savile Row as well as a diverse selection of Michelin starred restaurants and five star hotels. A D Further retail destinations of Oxford Street and ON ROAD EUST Regent Street are also within close proximity whilst MARYLEBONE ROAD MARYLEBONE ROAD John Lewis’ flagship Oxford Street store has a DE V ON ROAD O EUST second entrance on the south western side of the N S HIRE square itself. T YORK STREET OTTENHAM COURT ROAD P L CHILTERN STREET CHILTERN A CE Cavendish Square is also known for its proximity CRAWFORD STREET to Harley Street, which leads off the north western corner of the square. Harley Street is one of the most established and famous medical locations in M WEYMOUTH STREET A PO W R the world and is home to numerous specialists from LY I RT LAND PLACE MPOL L E GLOUCESTER PLACE PLACE GLOUCESTER B across the medical and dentistry professions. O E NE STR HIG E ET Many national and international organisations S H TR NEW CAVENDISH STREET NEW CAVENDISH STREET E HARLEY STREET have located their headquarters nearby including E T Chevron, The BBC, Great Portland Estates and The LANG ET ET Royal College of Nursing. To the north of the square H RE E ST TR A EY NIES S M L E GREAT CUMBERLANDPLACE GREAT FO Goodge CH are a number of high quality residential streets P Manchester WELBECK S L LANGHAM STREET WIMPOLE STREET A Street C leading up to Marylebone Road and Regent’s Park. Square E Cavendish Square itself is a highly sought Portman T after residential address. Square REET TOTTENHAM COURT ROAD BAYSWATER ROAD GR R WIGMORE STREET CAVENDISH PL. E G E M A E N T University College London (ranked in the world’s A DUKE STREET JAMES Cavendish T Marble RY P BAYSWATER ROAD ORT S L T Square T E E RE top 10 universities) is within a ten minute walk to Arch R T BO Y S E L BERNERS STREET E AND S PERC T MARBLE ARCH T NE N the west of the property and London Business REET HENRIETTA PLACE MARGARET ST. EW S OXFO T S R R RE D S M TREET E E AN S School (one of the world’s top business schools) is E T T NOR Bond Eastern G R Ticket Hall T AT located to the north of the property next to Regent’s ILBER Street Oxford R T E H H AUDLEY STRE H AUDLEY E B T OXFORD STREET Circus O Park, a short tube journey from Oxford Circus T DUKE STREET NE S TRE (Bakerloo line). GREEN STREET E T E PRINCES ST. T R Western DEAN E Ticket Hall Hanover G O E XF NE ORD STREET Square N S W T TREE DAVIES STREET DAVIES NEW OX UPPER BROOK STREET S FO BO RD STREE BROOK STREET HANOVER ST. T TREET T R S S E ROUGH ND LBO T T GE AR E GREAT M Grosvenor T S Square TR O Ordance Survey © Crown Copyright 2012. All rights reserved. Licence number 100020449. E R ET GE Not to scale. For indicative purposes only. C S A TREET R T N E A B STRE Y ST IT U SOUTH RE OND C ET P E A STREET AUDLEY AC OXFORD STREET R L K ON P T L MOUNT STREET RU A B N E EET STR Hyde Park P N A TO EET R RU STR Golden K B ORD LIFF L C Square A N Berkeley E Square EET STR ILL H E NU O VE R A L E Y D G R S U B E Piccadilly B AC S O N E T T ND F KV ST A Not to scale. For indicative purposes only. EET R Circus H TR B STR I E S S LL ER E T W RLES E A K ST CH ELE E H E I T T R Y C E C S OVENTRY ET STREET O T MB SERPENTINE ROAD REE S T Y ST ILL ICCAD T P R R CURZ A E ON STREE E T T R T TON E Green GENT ST TREET YN S S Park JERM T R E ET R ND EET A D STR UKE STREET ST JAMES’S STREET D O W N Green Park St James’s S T R E Square E T PICCADILLY ND RA MALL ST Q PALL U E E NS PALL MALL W A L K THE MALL THE MALL Communications Crossrail The property benefits from excellent communications with Crossrail is set to deliver a new world class, high speed numerous London Underground stations nearby. Oxford rail link across London by 2018. The Crossrail network is Circus station (Central and Victoria lines) is within minutes currently under construction and this will further improve the walking distance from the property whilst Bond Street station communications of the area. (Central and Jubilee lines), Tottenham Court Road station (Central and Northern lines) and Piccadilly Circus station There will be direct commuter access through Central (Piccadilly and Jubilee lines) are all in close proximity. London with stations at Paddington, Bond Street, Tottenham Numerous bus routes along Oxford Street and Great Court Road, Farringdon, Liverpool Street and Canary Wharf. Portland Street also provide easy access to and from all The scheme will increase London’s existing underground other parts of London. capacity by 10%. Accessible via the Victoria line is the Eurostar terminus at The Bond Street eastern ticket hall will be located in St Pancras which provides high speed rail services to Hanover Square in Mayfair, less than a five minute walk mainland Europe in under 2 hours. from Cavendish Square. The new station in Hanover Square will provide direct access to Heathrow (29 minutes), Canary Wharf (13 minutes) and Paddington Station (2 minutes). Crossrail Route Connections Eurostar Luton DLR Gatwick Jubilee Thameslink Central Metropolitan Hammersmith Overground Hammersmith & City Forest Harold District Jubilee & City District Stratford Gate Ilford Goodmayes Romford Wood Shenfield Central Central Circle Overground Hayes & Ealing Bond Maryland Manor Seven Chadwell Gidea Brentwood Taplow Slough Iver Harlington Hanwell Broadway Street Farringdon Whitechapel Park Kings Heath Park DLR Maidenhead BurnhamLangleyWest Southall West Acton Paddington Tottenham Liverpool Custom Drayton Ealing Main Line Court Road Street House Abbey Circle Northern Circle Wood Heathrow Bakerloo Central Metropolitan Canary Woolwich District Northern Wharf Piccadilly Hammersmith Central & City Hammersmith Jubilee & City DLR Existing station New station Surface line Stansted TunnelPortal (tunnel entrance and exit) Key interchange Further information is available at www.crossrail.co.uk Description Originally developed in 1907 as a residential mansion block, Harcourt House has since been converted into a number of residential, office and medical suites. The property maintains its attractive period façade overlooking Cavendish Square and many of its ornate original features including high floor to ceiling heights, cornicing and friezes. The property is currently split into 35 suites providing 63,119 sq ft net internal area and 85,149 sq ft gross internal area, arranged over lower ground, ground and 6 upper floors. Each floor plate typically provides four suites, each of which benefits from two large original rooms at the front of the building with bay windows and period balconettes overlooking the gardens in Cavendish Square.
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