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11 ADELPHI TERRACE London WC2 11 ADELPHI TERRACE London WC2 Prime Freehold Covent Garden Opportunity Investment Summary Attractive self-contained freehold office building with 4 car parking spaces The property provides 3,408 sq ft (NIA) and 4,411 sq ft (GIA) arranged over ground, first, second and mezzanine levels Prime Central London location overlooking Victoria Embankment Gardens and the River Thames and in close proximity to the amenity and retail offer of Covent Garden Excellent transport links with four underground stations and two mainline stations within a 10 minute walk of the property For sale with the benefit of full vacant possession Opportunity to increase net internal area through extension of mezzanine floor Recently expired planning consent for conversion to a single family dwelling and excavation of a single storey basement Potential for alternative uses, subject to gaining the necessary consents Planning consent on the car park for the erection of a three storey house, including basement Offers in excess of £5,000,000 subject to contract and exclusive of VAT. This reflects a capital value of £1,350 per sq ft on the NIA and £400,000 on the car park 11 Adelphi Terrace, London WC2 Location 11 Adelphi Terrace is situated at the southern corner of Robert Street and Adelphi Terrace in Covent Garden, equidistant between Victoria Embankment to the south and the Strand to the north. The property benefits from views over Victoria Embankment Gardens and the River Thames. Covent Garden is one of London’s most popular areas with residents, businesses and tourists alike, attracting over 44 million visitors every year. Key attractions include the world class retail and restaurant offering at the Covent Garden Piazza, one of London’s most popular tourist destinations - Trafalgar Square, and a number of the capital’s most historic and famous theatres, offering the perfect blend of culture and rich history. The Southbank Centre is also only a short walk across the Golden Jubilee Bridge. Communications The property benefits from excellent transport links with four underground stations and two mainline stations within a 10 minute walk of the property. In addition to the underground and train network, there are numerous bus routes running along the Strand and Victoria Embankment, providing excellent connectivity between Adelphi Terrace and the rest of London. Station Underground / Train Line Distance Bakerloo, Northern, South Eastern Charing Cross 0.1 miles mainline Embankment Bakerloo, Circle, District, Northern 0.2 miles Leicester Square Northern, Piccadilly 0.4 miles Covent Garden Piccadilly 0.4 miles Bakerloo, Northern, Jubilee, South Waterloo 0.7 miles Western mainline 11 Adelphi Terrace, London WC2 Property Description Designed by the Adam brothers, 11 Adelphi Terrace is a period end of terrace building arranged over ground, first, second and mezzanine levels. The main entrance is from Robert Street and opens into the second floor, with secondary access from Savoy Place. The second floor benefits from excellent natural light afforded by double height windows overlooking Victoria Embankment Gardens and the River Thames with a spacious mezzanine floor. The first floor provides open plan office accommodation with a distinctive domed ceiling and the ground floor is made up of ancillary office accommodation. There are WCs located on ground, first and second floors and a large kitchen and shower facilities at ground floor level. There is a large car park located to the front of the building with space for four cars and a planning permission for a 3 storey house (ref: 15/04348/FULL). Tenure The property and car parking are held freehold under two separate titles. Tenancy The property will be sold with the benefit of full vacant possession. Planning 11 Adelphi Terrace is not Listed but is located within the Adelphi Conservation Area. The property benefits from a recently expired planning consent for conversion to a single family dwelling and excavation of a single storey basement. There is the potential for conversion to alternative uses, subject to gaining the necessary consents. 11 Adelphi Terrace, London WC2 Accommodation Schedule and Existing Floor Plans First Floor The property has been measured by Lane & Frankham in accordance with the 6th Edition of the RICS Code of Measuring Practice. Lane & Frankham have also measured the property in accordance with The RICS Property Measurement 2nd edition, May 2018 incorporating the International Property Measurement Standards (IPMS). This report is available on request and assignable. Floor Use NIA (sq ft) GIA (sq ft) Mezzanine Office 485 506 Second Floor Second Office 1,206 1,408 First Office 991 1,283 Ground Office 726 1,214 Total 3,408 4,411 Ground Floor Mezzanine Floor 11 Adelphi Terrace, London WC2 11 Adelphi Terrace, London WC2 Proposal Offers in excess of £5,000,000 (five million pounds) subject to contract and exclusive of VAT. This reflects a capital value of £1,350 per sq ft on the existing NIA and £400,000 on the car park VAT The property has not been opted to tax therefore VAT should not be payable on the purchase price. EPC The property has an EPC rating of E. Full EPC available on request. Further Information For further information or to arrange an inspection, please contact the following: Tim Pierce Charlie Killen Tel: 020 7861 1676 Tel: 020 7009 2301 Email: [email protected] Email: [email protected] Nick Garcev Sean Cunningham Tel: 020 7861 1458 Tel: 020 7009 2300 Email: [email protected] Email: [email protected] Subject to Contract and Exclusive of VAT Important Notice 1. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP and Edward Charles & Partners LLP in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property, its condition or its value. Neither Knight Frank LLP nor Edward Charles & Partners LLP has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT: The VAT position relating to the property may change without notice. Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Our registered office is 55 Baker Street, London W1U 8AN, where you may look at a list of members’ names. October 2018. Subject to Contract..
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