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25 Marylebone Road 25 MARYLEBONE ROAD NW1 PROMINENT CORNER FREEHOLD PROPERTY WITH SIGNIFICANT VALUE ADD POTENTIAL THROUGH REFURBISHMENT, REDEVELOPMENT OR CHANGE OF USE INVESTMENT HIGHLIGHTS Situated in the fashionable and dynamic London sub-market of Marylebone, occupying a prominent corner position; Freehold site situated less than 250 metres away from Baker Street Station, catering to c. 28 million passengers per year; Excellent transport links with Marylebone Railway Station and Baker Street, Regent’s Park and Great Portland Street Underground Stations nearby; Total gross internal area of 49,498 sq ft (4,598.5 sq m); The property benefits from full vacant possession or a short term leaseback to the current owner occupier, The Methodist Church, upon completion of sale, on terms to be agreed; Numerous options to add value through repositioning of the offices or change of use to medical (under Class E) or to educational, hotel or life sciences, subject to the necessary planning approvals; Outstanding retailing and leisure provision, with Marylebone Village, a highly affluent area home to a number of exclusive boutiques, renowned restaurants and fashionable hotels, situated moments away; Less than 5 minutes’ walk to one of London’s most popular open spaces, Regent’s Park; Offers are invited for the freehold interest, subject to contract and exclusive of VAT 25 MARYLEBONE ROAD Fitzrovia BBC Broadcasting Soho Oxford Circus Harley Street Regent’s Park Marylebone Portman Square University of Hyde Park House High Street Westminster LOCATION Located in Marylebone. the property is positioned within one of the most vibrant and desirable districts in the West End of London. The Marylebone submarket attracts demand from a diverse pool of occupiers, and experiences substantial demand from prominent office tenants including PIMCO, Fujitsu and British Land due to its close proximity to Mayfair. Occupiers are drawn to Marylebone’s wealth of local amenities with an exceptional mix of retail, restaurant, leisure and hotels as well as its lively commercial district. The area is also renowned for its prevalence of medical occupiers and hospitals including include The Princess Grace Hospital and King Edward Hospital. Marylebone’s appeal is further bolstered by the area’s expansive green spaces provided by Regent’s Park spanning 410 acres to the north and offering an Open Air Theatre, the London Zoo, gardens and a boating lake. ST. PANCRAS INTERNATIONAL E KING’S CROSS ST. PANCRAS V E LONDON UNDERGROUND R S H O L T EUSTON S T REGENT’S PARK D SAINT PANCRAS P R E A N R O K B E R YL D 6 R A L M A K P 4 C O 25 MARYLEBONE 2 T 0 S EUSTON SQUARE I 0 V ROAD 23 A T G L WARREN STREET O 17 U C GREAT RUSSELL E D BAKER STREET NE R PORTLAND S O SQUARE 15 LEB STREET 4 T ARY M 16 E R 27 24 P REGENT’S 3 L PARK MARYLEBONE 14 9 FITZROVIA 2 28 P MARYLEBONE HIGH ST O R 12 30 T 13 L A GOODGE B N A D STREET 19 B K 11 P E L L O R O S M 29 T MARYLEBONE 8 S 10 B 5 U R 7 Y 21 1 S 26 T 18 25 A40 ST RGE 20 GEO ST ORE IGM TOTTENHAM E W D COURT ROAD SITUATION G W EET D STR A XFOR R O OXFORD CIRCUS Situated on the south side of Marylebone E R 22 Road and the western side of O A D Nottingham Place, 25 Marylebone Road MARBLE ARCH BOND STREET occupies an enviable corner pitch. The quiet residential road of Bingham Place lies to the south and provides HOTELS AND RESTAURANTS RETAIL AND BARS OFFICE & EDUCATION service access to the property. 1. The Langham Hotel 11. Jaeger 21. Fujitsu The opportunity is located in the 2. The Landmark Hotel 12. L K Bennet 22. British Land Marylebone submarket which runs east- 3. Dorset Square Hotel 13. Matches Fashion 23. Icon Capital west from Portland Place to Edgware 4. Radisson Blu Edwardian Hotel 14. The Conran Shop 24. Maximum Potential Road and is bounded by Marylebone Road to the north, Fitzrovia to the east, 5. Durrants Hotel 15. Oliver Bonas 25. PIMCO Oxford Street and Mayfair to the south 6. Meliá White House Hotel 16. The Green Man 26. Engine Group and Paddington to the west. 7. The Marylebone Hotel 17. Smugglers Tavern 27. BNP Paribas 8. Chiltern Firehouse 18. The Wigmore 28. University of Westminster 9. The Fitzrovia Hotel 19. The Queen Charlotte 29. Brevan Howard 10. Treehouse Hotel 20. The Champion 30. Queen’s College CONNECTIVITY 25 Marylebone Road benefits from its close proximity INTERNATIONAL to five of London’s major railway stations including Paris - 3 hours Marylebone, Euston, King’s Cross, Paddington and St Amsterdam - 5 h ours Pancras. The property is less than a 10 minute walk from Baker Street, Regent’s Park and Great Portland Street Underground stations, providing Bakerloo, Jubilee, 25 MARYLEBONE Circle, Hammersmith & City and Metropolitan line ROAD services as well as a plethora of bus routes providing services across Central London and beyond. KING’S CROSS ST PANCRAS 11 minutes PADDINGTON EUSTON 9 minutes MARYLEBONE BAKER STREET STANSTED AIRPORT 75 minutes FARRINGDON REGENT’S PARK OXFORD CIRCUS TOTTENHAM 8 minutes COURT ROAD BOND STREET MOORGATE HOLBORN NOTTING HILL LIVERPOOL STREET GATE 17 Minutes LEICESTER SQUARE BANK GREEN PARK 21 minutes CITY AIRPORT 39 minutes CANNON STREET PICCADILLY CIRCUS MONUMENT TOWER HILL CHARING CROSS HEATHROW AIRPORT 31 minutes BLACKFRIARS LONDON BRIDGE EMBANKMENT SOUTH ST JAMES’S WESTMINSTER KENSINGTON VICTORIA PARK The Elizabeth Line, due to open in 2022, is one of Europe’s largest infrastructure projects, connecting Shenfield in the east WATERLOO 16 minutes to Reading in the west and significantly reducing travel time across London. GATWICK AIRPORT 48 minutes THE BUILDING The property comprises an office building of traditional masonry construction with brick elevations, offering 30,034 sq ft (2,790.2 sq m) NIA and 49,498 sq ft (4,598.5 sq m) GIA of office and ancilliary accommodation arranged over basement, lower ground, ground and seven upper storeys. Internally the accommodation provides cellularised floorplates of 2,204 sq ft (204.8 sq m) to 3,456 sq ft (321.1 sq m). The property also uniquely benefits from a wide central spiral staircase, a chapel and a double height meeting hall on the 1st floor. The property offers numerous opportunities for regeneration, subject to obtaining the appropriate planning consents. TENURE The Property is held Freehold under Title Number 337257. TENANCY The property will be offered with full vacant possession or a short term leaseback to the current owner occupier upon the completion of sale, on terms to be agreed. NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100024244 Savills (UK) Ltd. NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed. FIRST FLOOR ACCOMMODATION MARYLEBONE ROAD The property has been measured by Lane & Frankham in accordance with the RICS Code of Measuring Practice (6th Edition), and comprises the following gross and net internal floor areas: The accommodation is arranged as follows: Floor Use NIA (Sq ft) NIA (Sq m) GIA (Sq ft) GIA (Sq m) NOTTINGHAM PLACE 7th Office 2,271 211.0 3,836 356.4 6th Office 3,433 318.9 5,174 480.7 5th Office 3,456 321.1 5,203 483.4 4th Office 3,408 316.6 5,187 481.9 3rd Office 3,298 306.4 5,201 483.2 2nd Office 2,204 204.8 3,550 329.8 1st Office 3,187 296.1 5,125 476.1 Office 2,902 269.6 Ground 5,168 480.1 Reception 374 34.7 Lower Ground Meeting rooms 3,208 298.0 6,198 575.8 Basement Storage 2,293 213.0 4,856 451.1 TOTAL 30,034 2,790.2 49,498 4,598.5 GROUND FLOOR TYPICAL UPPER FLOOR MARYLEBONE ROAD MARYLEBONE ROAD NOTTINGHAM PLACE NOTTINGHAM PLACE Not to scale - for indicative purposes only REDEVELOPMENT POTENTIAL As part of upgrading the wider Church estate and providing up to date office and church facilities detailed consideration was given to both the refurbishment and redevelopment of 25 Marylebone Road. REDEVELOPMENT These proposals involved the demolition and rebuild of 25 Marylebone Road to provide a new, modern building with an additional 50% NIA over the original property. The new scheme provided a basement level gallery, alongside shower and cycle parking facilities, Grade A office accommodation over floors one to seven and a communal roof garden at the eighth floor. A pre-app was submitted for this new scheme in December 2019 and received a positive response from Westminster demonstrating the clear potential for significant area gain on the site. CGI of Proposed Scheme MODERNISATION OF THE CHAPEL, MEETING AND AUDITORIUM SPACE ON THE FIRST FLOOR, WHICH PRESENTS GREAT POTENTIAL TO PROVIDE ENTERTAINMENT SPACE FOR FUTURE OCCUPIERS REFURBISHMENT OF THE EXISTING BUILDING CGI of Proposed Scheme - Chapel Scott Brownrigg and a wider consultancy team considered options for a refurbishment of the building to modernise and improve the office accommodation and amenity. NEW MALE AND FEMALE SHOWER FACILITIES AND A NEW CYCLE STORE INSTALLED AT CGI of Proposed Scheme - Reception BASEMENT LEVEL RECONFIGURE THE ACCOMMODATION INTERNALLY AND IN DOING SO SIGNIFICANTLY INCREASE THE NIA CGI of Proposed Scheme - Cafe IMPLEMENTATION OF KEY SUSTAINABILITY STRATEGIES INCLUDING A NEW GREEN ROOF GARDEN THE DOUBLE HEIGHT MODERNISATION OF RECEPTION AREA EXTERNAL TERRACES TO BE RENOVATED TO MAXIMISE AND MODERNISED FLOOR AREA WHILE MAINTAINING THE SAME AESTHETIC TARGET OF ACHIEVING BREEAM ‘EXCELLENT’ ALTERNATIVE USE POTENTIAL The property is uniquely situated in a genuinely mixed use location.
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