Great Portland Street
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14/16 GREAT PORTLAND STREET GREAT PORTLAND STREET LONDON W1 1 14/16 GREAT PORTLAND STREET 14/16 GREAT PORTLAND STREET Prime freehold mixed use asset Investment with development potential. summary Prominently located on Great Portland Street with dual frontage to Market Place/Margaret Court just 300 ft from Oxford Street, Europe’s busiest retail street. Attractive mixed use retail and office building. 13,042 sq ft (1,211.59 sq m) NIA and 17,715 sq ft (1,645.63 sq m) GIA arranged over lower ground, ground and 5 upper floors. Freehold. Multi-let with vacant possession of the offices in January 2017 and the whole by June 2017. Range of asset management, refurbishment and development opportunities. Suitable for owner occupiers. Full planning permission to reposition the property as a Grade A office and retail building with extended areas and improved amenities. The consented scheme will deliver a total of 5,167 sq ft of A1 retail and 11,044 sq ft of B1 offices with 1,227 sq ft of terracing across multiple floors. Prime office ERVs are c.£85 psf. Further potential to convert part of the A1 retail unit to valuable A3 restaurant use (STPP). Price - £21,000,000. Capital value: £1,295 psf on the consented NIA. 2 3 14/16 GREAT PORTLAND STREET 14/16 GREAT PORTLAND STREET Carnaby Street Soho Noho Oxford Street Market Place Margaret Street Oxford Circus Great Portland Street Regent Street Mayfair 4 5 14/16 GREAT PORTLAND STREET 14/16 GREAT PORTLAND STREET Location The area is brimming with restaurants, designer hotels Prominently located on Great and luxury boutiques and whilst traditionally associated Portland Street with dual with the fashion industry, Noho has recently become heavily associated with the TMT sector attracting office frontage to Market Place/ occupiers including Sony, Facebook, MTV, Lionsgate Margaret Court just 300 ft Films and The British Film Industry. Market Place, located to the rear, has become a popular from Oxford Street, Europe’s bar and restaurant destination in addition to being an busiest retail street. established retail location benefitting from enlarged deep pavements which provide tenants with rare and valuable outside seating. Local occupiers now include Côte Situated in the heart of London’s West End, Great Brasserie, Coppa Club, Carluccio’s, Yoobi, Honest Burger Portland Street forms one of the main thoroughfares & Market Place Bar. linking Oxford Street in the south to Marylebone Road in the north and benefits from a highly varied occupier base Oxford Street, one of the most visited retail destinations with office, retail, residential, bar and restaurant occupiers in the world is located just 300ft south of the property providing a diverse and captivating mix synonymous with linking directly onto Great Portland Street. Oxford Street Noho/Fitzrovia. is one of the world’s most famous shopping streets and Noho, one of the main West End office sub-markets, Europe’s busiest, attracting over 193 million people every has witnessed sustained growth and regeneration over year of which over 50% are overseas visitors. Acting as the past few years including landmark schemes such as the principal location for department stores in London, The BBC HQ, Fitzroy Place and Great Portland Estate’s Oxford Street is home to Selfridges, John Lewis, House of redevelopment of the former Post Office site at Rathbone Fraser and Debenhams as well as an unprecedented and Place. diverse mix of retailers. 6 7 14/16 GREAT PORTLAND STREET 14/16 GREAT PORTLAND STREET Oxford Street, located just 300ft south of the property linking directly onto Great Portland Street, is home to major retailers uncluding Selfridges, John Lewis, House of Fraser and Debenhams. 14/16 GREAT PORTLAND STREET 14/16 GREAT PORTLAND STREET Oxford Street is one of the world’s most famous shopping streets and Europe’s busiest, attracting over 193 million visitors every year. 10 11 14/16 GREAT PORTLAND STREET 14/16 GREAT PORTLAND STREET Benefitting from excellent transport links with 10 London Underground Stations located within less than a mile of Communications the property providing an unrivalled access across London. 11 9 10 GREAT PORTLAND WARREN STREET STREET 0.8 MILES REGENT’S PARK GREA 0.5 MILES 0.4 MILES TO TT 8 GOODGE EN T PO 7 6 STREET HAM C 1 0.5 MILES 5 OUR RT 3 T ROA Mylebe LA 13 T ND STREE 21 D WIGMORE STREE CAVENDISH 20 12 SQUARE Noho TOTTENHAM ET 16 19 OX FORD STRE COURT ROAD T 0.5 MILES 14 18 17 SOHO OXFORD CIRCUS T SQUARE 0.1 MILES T OROUGH STREE 4 OX FORD STREE T MARLB BOND STREET GREA WARDOUR STRE 0.4 MILES NEW B HANOVER 15 SQUARE REGE OND STRE NT STRE Soho ET T ET ET Mayfa S STREE T VE NOR STREE GROSVONOR VIE GR OS 2 SQUARE DA UE EN AV 1 LANGHAM HOTEL 12 THE ROYAL SOCIETY OF MEDICINE 2 THE WESTBURY 13 UNIVERSITY OF WESTMINSTER 3 CHANDOS HOUSE 14 JOHN LEWIS URY B 4 SOHO HOUSE 15 LIBERTY LONDON LEICESTER SQUARE ES 0.8 MILES 5 THE SANDERSON 16 NIKE TOWN ET FT 6 RIDING HOUSE CAFÉ 17 ZARA 7 CHARLOTTE STREET HOTELUTON STRE 18 HOUSE OF FRASER SHA BR 8 BBC 19 TOPSHOP/TOPMAN 9 BT 20 CENTREPOINT 10 ROYAL INSTITUTE OF BRITISH ARCHITECTS 21 LONDON EDITION HOTEL/BERNERS TAVERN PICCADILLY CIRCUS 11 CHINESE EMBASSY 0.7 MILES 12 13 BERKELEY SQUARE Y LL DI PICCA 14/16 GREAT PORTLAND STREET 14/16 GREAT PORTLAND STREET Crossrail / Elizabeth Line N Located just minutes from the new Hanover Street STRATFORD Crossrail ticket hall and Dean Street Crossrail ticket hall. STANSTED IVERPOOL STREET L PADDINGTO TOTTENHAM COURT ROAD 14 Due for completion in 2018, Crossrail will provide a Both Bond Street & Tottenham Court Road Underground new high speed train service providing thousands of Stations are currently undergoing major transformations commuters quick access into and across London. This to become two of the key transport hubs of the Crossrail 26 4 4 6 9 £16 billion infrastructure enhancement is the largest network and increase capacity at one of the largest in Europe and will provide London and the south east shopping districts in the UK. At present Bond Street 12 N with a world leading inner-city railway. Once completed, Station carries 155,000 passengers per day and once K N the nearby Bond Street Station will have two new ticket completed the station’s capacity and footfall is forecast W halls and two new platform tunnels. The new line will link to increase to 225,000 people daily with commuters LUTO ATWIC 37 stations and 2 London airports (Heathrow and City being able to travel from Heathrow Airport to Bond Street F G Airports) with journey times reduced by up to half. 200 in just 26 minutes. AIRPORT HEATHRO million passengers are forecast to travel on Crossrail each FARRINGDO WHITECHAPEL BOND STREET year resulting in a 10% increase in London’s rail capacity and bringing 1.5 million additional people within 60 minutes reach of the capital’s key business districts. 0 JOURNEY TIME (MINUTES) CANARY WHAR TOTTENHAM BOND STREET COURT ROAD (Hanover Square) (Dean Street) Crossrail ticket hall Crossrail ticket hall 0.4 miles 0.2 miles 14 15 14/16 GREAT PORTLAND STREET 14/16 GREAT PORTLAND STREET Description Originally constructed in 1914, the Great Portland Street The offices, arranged over 1st-5th floors, are accessed Comprising a prominent, attractive mixed use retail and elevation benefits from an attractive and robust Portland via a dedicated private entrance on Great Portland Street office building benefitting from large frontages to both Stone façade with large arch windows at first floor level whilst the retail element, arranged over lower ground and a highly detailed decorative arch over the office and ground floors, benefit from access from both Great Great Portland Street and Margaret Court/Market Place. entrance. The office floor plates comprise open plan Portland Street to the front & Margaret Court/ Market column free area benefitting from excellent levels of Place to the rear. natural light throughout. The rear façade is comprised of Totalling 13,042 sq ft NIA (1,211.59 sq m) and 17,715 sq ft white glazed bricks with large windows. 14-16 Great Portland Street benefits from generous floor to ceiling heights throughout, a passenger lift serving (1,645.63 sq m) GIA, the building is arranged over lower ground and all upper floors and a large, grand entrance ground, ground and 5 upper floors. hall. The building is not listed. 1st Floor 1st Floor 16 17 14/16 GREAT PORTLAND STREET 14/16 GREAT PORTLAND STREET Accommodation FLOOR AREA GIA AREA NIA SQ FT SQ M SQ FT SQ M 5th 955 88.72 722 67.07 4th 1,361 126.44 857 79.62 3rd 2,589 240.42 2,135 198.34 2nd 2,767 257.05 2,210 205.31 2nd half landing 73 6. 78 - - 1st 2,952 274.24 2,148 199.55 Ground 3,747 348.10 2,465 228.99 Lower Ground 3,271 303.88 2,505 232.71 Total 17, 7 15 1,645.63 13,042 1,211.59 2nd Floor 18 19 14/16 GREAT PORTLAND STREET 14/16 GREAT PORTLAND STREET 1st Floor 20 21 14/16 GREAT PORTLAND STREET 14/16 GREAT PORTLAND STREET Tenure Tenancies Freehold. Multi-let in accordance with the schedule below providing the opportunity to have vacant possession of the upper floors by 29 January 2017 and vacant possession of the whole by June 2017: PREMISES TENANT RENT TERM BREAK OPTION NIA AREA COMMENTS (PER SQ FT) (SQ FT) G R E Fifth Creative Design £26,000 29.06.2016- MB anytime on 722 Outside Act.