MIXED USE INVESTMENT OPPORTUNITY 03 Investment Summary

• Prime Fitzrovia location

• 893 year long leasehold interest with a fixed base rent of £45 per annum

• Attractive mixed use building

• Comprising 19,452 sq ft (GIA) over ground, garden and five upper floors

• Benefits from internal courtyards and a roof terrace

• A short walk from both Oxford Circus and Tottenham Court Road stations, providing excellent connectivity across Central London

• It is proposed to offer the building with the benefit of full vacant possession, should this be the preferred option of the purchaser.

• Numerous asset management or change of use opportunities (subject to necessary consents) 82-83 MARGARET STREET 05

SOUTHBANK

ST JAMES’S COVENT PARK GARDEN

SOHO TOTTENHAM COURT ROAD

OXFORD MAYFAIR STREET

OXFORD FITZROVIA CIRCUS

MARYLEBONE 82-83 MARGARET STREET 07

Fitzrovia on your Doorstep BERNERS TAVERN

Fitzrovia offers a bustling environment and rich variety of landmarks, amenities and social ROKA attractions. Benefiting from extensive transport links, it is one of the most popular destinations in London for occupiers, residents and visitors alike.

The area is home to some of London’s best restaurants and stylish hotels. There are a mix of traditional public houses and independent bars, which complement more traditional landmarks such as The British SANDERSON HOTEL Museum, BT Tower and Fitzroy Square Gardens.

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L 82-83 MARGARET STREET 11

Description

The property is situated on a prominent corner site in the heart of Fitzrovia. The building sits at the eastern end of Margaret Street, whilst Marylebone Passage is immediately to the east where two of the three building entrances are located.

Constructed over lower ground, ground and five upper floors, 82-83 Margaret Street occupies a substantial site covering approximately 0.12 acres. The main building dates to around 1914-1920, providing a variety of accommodation styles behind an attractive brick and stone façade.

Access is provided via three entrances off Margaret Street and Marylebone Passage. The lower ground, ground and first floors currently provide a series of offices, meeting rooms and ancillary facilities, whilst the second to fifth floors provide residential accommodation. The layout sits around two central courtyards at lower ground and ground floor with an additional roof terrace at second floor. To the south of Marylebone Passage is an unencumbered church currently used for a variety of events.

The building is largely set out with a cellular layout, with the residential accommodation offered in a variety of well proportioned bright rooms. There is a basic lift servicing all floors.

A virtual tour is available from the following link:

https://my.matterport.com/show/?m=J5dLgWQZ254 82-83 MARGARET STREET 13

Connectivity

Margaret Street is easily accessible by public transport. It is a short walk from Oxford Circus, Tottenham Court Road and Bond Street tube stations, as well as numerous bus links. These stations provide access to London’s major transport hubs, including Paddington, King’s Cross St Pancras International, Victoria, Euston and Waterloo.

This location will be a major beneficiary of the Elizabeth Line (Crossrail) at Tottenham Court Road, which is due to complete in 2022, with capacity to carry 200 million passengers every year. Tottenham Court Road will also be an interchange on the proposed Crossrail 2 route.

Crossrail

Picadilly Jubilee DLR Central Hammersmith & City District Bakerloo Overground Circle Metropolitan 15 Accommodation

82-83 Margaret Street has been independently measured by PRE Surveyors in accordance with the RICS Code of Measuring Practice (6th edition).

A copy of the full measured survey is available in the data room, which includes areas calculated on the new International Property Measurement Standards (IPMS).

The survey report is assignable to the Purchaser.

Floor Use NIA (Sq Ft) NIA (Sq M) GIA (Sq Ft) GIA (Sq M)

Fifth Floor Residential 892 82.9 1,545 143.5

Fourth Floor Residential 1,233 114.5 1,812 168.3

Third Floor Residential 1,300 120.7 1,883 174.9

Second Floor Residential 1,256 116.7 1,858 172.4

First Floor Chapel & Office 2,527 234.8 3,893 361.7

Ground Floor Offices 2,383 221.4 4,019 373.3

Garden Floor Offices 2,713 252.0 4,442 413.0

Total 12,304 1,143.2 19,452 1,807.3 17

GROUND Floorplans

LOWER GROUND

FIRST

For indicative purposes only. SECOND FOURTH 19

Floorplans

THIRD FIFTH 82-83 MARGARET STREET 21

Tenure Tenancies

The property is held long leasehold from Mount Eden It is proposed to offer the building with the benefit Land Limited for a term of 999 years from of full vacant possession, should this be the 6th July 1915 (893 years unexpired). preferred option of the purchaser.

The head rent is fixed at £45 per annum for the re- The majority of the building has been owner mainder of the term. occupied, with the lower ground and part ground floor occupied on a lease and licence, producing A copy of the headlease is available in the data room. £50,040 pax.

The leasehold property is registered under Further detail is available on request and within the Title Number: 299566. data room. 82-83 MARGARET STREET 23

Additional Information

Planning

The property is located within the London Borough of Westminster within the East Marylebone Conservation Area.

The existing use comprises a church centre and ancillary residential accommodation (Sui generis). The church is unencumbered and was Grade II listed in 1987.

VAT

The building has not been elected for VAT, which will not be charged on the sale.

EPC

The property has an EPC rating of ‘C’. A copy of the EPC and Recommendation Report are available upon request.

Data Room

Further information can be accessed in the Data Room on request.

Access

Strictly by appointment only. A virtual tour is available via the following link: https://my.matterport.com/show/?m=J5dLgWQZ254 82-83 MARGARET STREET 25

Investment Market

Covid-19 has led to an unprecedented period for real estate, yet values have generally been sustained. This opportunity offers a range of asset management initiatives to enhance values from a variety of uses, subject to planning.

WAULT Price Address Use Tenure Size Price NIY Date (Break) (£ psf)

Orwell House, 16-18 Berners LLH Office 18,649 2 £22.7m 5.17% £792 Q4 2020 Street, W1 105 @ 10%

Yalding House, 152-156 Great Office / LLH 28,842 5 £42m 4.42% £1,458 Q4 2020 Portland Street, W1 Retail 118 @ 5.75%

30-32 Mortimer Street, W1 Office FH 16,477 VP £17m n/a £1,032 Q4 2020

SoHostel, 91 Dean Street, W1 Hostel FH 32,900 (GIA) Licence £31m n/a £912 Q3 2020

44 Whitfield Street, W1 Office FH 12,031 3.8 (1.8) £19.5m 4.50% £1,625 Q3 2020

Maple & Midford, 4-8 Maple Office FH 20,417 8 (3) £32.4m 4.25% £1,586 Q2 2020 Street, W1 Contact

Offers are invited for the Long Leasehold interest.

For further information or to arrange an inspection please contact the vendor’s retained agents, Gerald Eve.

Lloyd Davies Ben Nichols James Orr Ben Gilbey +44 (0)20 7333 6242 +44 (0)20 7333 6411 +44 (0)20 7333 6431 +44 (0)20 3486 3457 +44 7767 311 254 +44 7786 733 198 +44 7944 584 458 +44 7393 764 732 [email protected] [email protected] [email protected] [email protected]

Conditions under which these particulars are issued . All details in these particulars are given in good faith, but Gerald Eve LLP for themselves and the Vendors/Lessors of this property for whom they act give notice that: 1. These particulars do not and shall not constitute, in whole or in part, an offer or a contract or part thereof, and Gerald Eve LLP have no authority to make or enter into any such offer or contract. 2.All statements contained in these particulars are made without acceptance of any liability in negligence or otherwise by Gerald Eve LLP, for themselves or for the Vendors/Lessors. 3. None of the statements contained in these particulars is to be relied on as a statement or representation of fact or warranty on any matter whatsoever, and intending purchasers must satisfy themselves by whatever means as to the correctness of any statements made within these particulars. 4. The Vendors/Lessors do not make, give or imply, nor do Gerald Eve LLP or any person in their employment have any authority to make, give or imply, whether in these particulars or otherwise, any representation or warranty whatsoever in relation to the property. This statement does not affect any statutory rights you may have nor does it intend to limit Gerald Eve’s liability which cannot be excluded or limited by law. Particulars issued June 2021. Design by CORMACK - cormackadvertising.com