27 KELSO PLACE KENSINGTON LONDON W8 02 Opportunity Freehold Refurbishment Prime WestEnd
• • • • • • EXECUTIVE SUMMARY class, subject to the necessary consents class, subjecttothenecessary increasing theexistingmassing andchangingtheuse comprehensively refurbishing theproperty, significantly Numerous including: assetmanagementopportunities Suitable forbothprivateinvestors andowner occupiers with fullvacantpossession Offered second floors accommodation arranged over ground, firstand 5,530 sqftNIA/7,033 sqftGIAofB1office Kensington stations proximity tobothGloucesterRoadandHighStreet ofKensingtonLocated intheheart withinclose Freehold
KELSO 03 PLACE KELSO PLACE
27 Kelso Place is located in the Royal Borough of Kensington and Chelsea, one of London’s most affluent boroughs. Situated just 2 miles west of Mayfair and 1 mile west of Knightsbridge, Kensington is a premier address and is a popular location for office occupiers as it benefits from excellent accessibility and a diverse retail offering.
The subject property is located 400 metres south of High Street Kensington station 04 05 and 600 metres north of Gloucester Road station. The immediate locality is surrounded by high value residential, although the wider area is home to many luxury boutiques and international retailers as well as a number of high end restaurants and cafés.
Kensington is renowned for its status as a cultural hub and is home to the Natural History Museum, the Serpentine Gallery, the Royal Albert Hall and the Victoria and Albert Museum. The area is also well known for its proximity to the open green spaces of Hyde Park, Holland Park and Kensington Palace Gardens. These local amenities, combined with its international community, LOCATION make Kensington an attractive location for office occupiers, particularly from the technology, media and music sectors, many of which have dedicated their long term KENSINGTON future to the area. 10 KELSO Holland Park PLACE Station Palace Hyde Park 9 Green Kensington Ct 8 Derry St
Young St High Street Kensington Station Kensington Thackeray St 7 Derry St Square Garden Holland Park Holland Park 5
Knightsbridge Wrights Lane Ansdell St Ansdell
Kensington Square Pl Ct Kensington High Street 11 Wrights Ln Ansdell 3 Kensington Station 4 Terrace 6 Kensington S End High Street Kensington
Marloes Road 27 Kelso Place Brompton Road Scarsdale Pl
S End Row
1 Scarsdale Pl
Stanford Rd Cromwell Road
Gloucester South Marloes Rd Station Kensington Sloane Avenue West Cromwell Rd Station
St Mary’s Pl Kelso Pl Kelso 07 Earls Court St Margarets Lane Station
West Kensington Drayton Gardens Station St Mary’s Gate Cornwall Gardens Earls Court Old Church Street 2
Marloes Rd
West Brompton Lexham Gardens Station Chelsea Lexham Gardens
Pennant Mews Lexham Gardens
Point W Access Rd
1 Natural History Museum 5 High Street Kensington Station 9 Kensington Gardens Cromwell Road 2 Earls Court Regeneration Scheme 6 Design Museum 10 Hyde Park 3 Kensington High Street 7 Holland Park 11 Royal Albert Hall
4 Harrods 8 Kensington Palace 08 CONNECTIVITY provide accesstotheCircle, DistrictandPiccadillyLines. distance ofbothHighStreet Kensington andGloucesterRoadstations,which 27 Kelso byexcellent Placeisserved transportlinks,situatedwithinwalking Kensington station High Street
Richmond Heathrow Circle Piccadilly Overground District District (weekends) Kew Gardens Hammersmith Shepherd’s Bush King’s Cross 26 10 minutes minutes Road station Gloucester From HighStreet Kensington Station
West Kensington Barons Court
Kensington Olympia Clapham Junction Shepherd’s Bush West Brompton Earls Court Paddington Victoria minutes minutes 12 7
Wimbledon Gloucester Rd Kensington High Street Paddington South Kensington South Kensington Oxford Circus station
Waterloo 20 minutes minutes 16 Green Park Leicester Square King’s Cross StPancras
Victoria Monument Street Liverpool
09 KELSO PLACE Palace 10 Green Hyde Park Earls Court
Olympia Regeneration KELSO Holland Park London Scheme PLACE Holland Park 1 2 High Street Earls Court is to undergo a £12 billion regeneration, over Wrights ln Kensington Station Largest exhibition centre in Central London. 77 acres, which will make it the largest mixed-use scheme 3 Redevelopment project will transform the venue into a in Central London. world-leading arts and entertainment venue. The scheme will deliver 7,500 homes and will bring Kensington approximately 10,000 jobs to the area. High Street Kensington
Marloes Road Infrastructure improvement will include the enhancement 1 27 Kelso Place of Earls Court, West Brompton and West Kensington 4 underground stations. Cromwell Road Gloucester South Station Kensington Sloane Avenue West Cromwell Rd Station
Earls Court Station
West Kensington Station Drayton Gardens Earls Court 2 Old Church Street 11 River Thames Redevelopment of West Brompton Station The South Kensington Chelsea 3 Kensington 4 Tube Station West Brompton Delancey led scheme for the redevelopment of Plans have been approved to transform South Kensington the formerRiver Odeon Thames Cinema, Post Office sorting house tube station, which will see the station upgraded and the and office building on Kensington High Street. surrounding land sensitively developed. Transport for London have chosen property developer Native Land as its Clem Attlee Fulham Broadway The scheme was granted permission in 2016 and will joint venture partner to redevelop the land. Station include two new cinemas, a bar, retail and office space. Court A new entrance to the station will be built at Thurloe Street The consent also includes 35 luxury private apartments as part of the scheme and several four storey buildings at LOCAL and 20 affordable homes. 20-34 Thurloe Street will also be upgraded. DEVELOPMENTS
27 Kelso Place is set to benefit from a number of exciting local developments which will further enhance the immediate locality. 12 be provided. assignable toapurchaser andaDutyofCare can Property MeasuringStandards IPMS3.Thesurvey is Measuring Practice 6thEdition andtheInternational Ltdinaccordance withtheRICSCodeof Services The property hasbeenmeasured byPure RealEstate ACCOMMODATION consent. necessary to significantlyenhancetheexistingarea, subjecttothe parking, althoughcouldbedeveloped oninthefuture light throughout. Thecourtyard iscurrently usedforcar courtyard whichallows forexcellent levels ofnatural The property alsobenefitsfrom alarge, central rectangular floorplates. accommodation withefficient, retains many periodfeatures andprovides flexibleoffice arranged over ground andtwo upperfloors.Theproperty 5,530 sqftNIA/7,033 accommodation sqftGIAofoffice 27 Kelso Placeisanattractive period buildingcomprising DESCRIPTION Total Ground 1st 2nd Floor 5,530 2,013 2,622 895 NIA (sqft) 7,033 2,669 3,058 1,306 GIA (sqft) 5,908 2,070 2,743 1,095 IPMS 3
ExternalCourtyard Suspendedceilings Air Conditioning Air Doubleglazed Passenger Lift Large Kitchen Inset Lighting Car Parking windows
KELSO 13 PLACE KELSO FLOOR PLANS PLACE
Plant WC s
Kitchen Step
14 15
WC WC
Plant WC Lift Lift
Ground Floor First Floor Second Floor 2,013 sq ft (NIA) 187 sq m 2,622 sq ft (NIA) 244 sq m 895 sq ft (NIA) 83 sq m 2,669 sq ft (GIA) 248 sq m 3,058 sq ft (GIA) 284 sq m 1,306 sq ft (GIA) 121 sq m 16 ASSET MANAGEMENT OPPORTUNITIES • • • These includethefollowing: help todriveandlongterm. valuebothintheshort a numberofassetmanagementstrategies, whichwill 27 Kelso Placeprovides toundertake theopportunity D1, consent subjecttothenecessary Changing theuseclasstoeitherC3residential or central courtyard,subjecttoconsent ofthe andinfillingpart plant spaceefficiency Increasing theexistingnetinternalarea through Comprehensively refurbishing theproperty
KELSO 17 PLACE 18 COMMENTARY MARKET Nov 16 Mar 17 Sep 17 May 18 Date Street, W8 197 Kensington High SW1 21 QueenAnne’s Gate, Knightsbridge, SW3 6 StCatherine’s Mews, Church Street, W8 145 Kensington Address Freehold Freehold Freehold Freehold Tenure 3,929 4,897 2,938 6,067 (NIA) Area sqft £7,000,000 £7,500,000 £3,390,000 £7,500,000 Price 3.35% - - 3.94% NIY £1,782 £1,532 £1,154 £1,236 (£psf) Capital Value optimum trading between theAmericanandAsianmarkets. labour poolandislocated inastrategic time zone thatfacilitates combined withexcellent infrastructure connectivity, ahighlyskilled a transparent propertymarket withanestablishedlegalsystem, overseas investors whoare drawn toLondonbecauseitprovides 30% to2016.80%ofacquisitionsin2017were completedby in 2016.2017witnessed£18.2moftransactions, anincrease of overseas investor demanddespite theUK’s vote toleave theEU most liquidreal estatemarkets andcontinuestoattract significant property investment markets inthe world. London isoneofthe London continuestobeoneofthemostdynamicandsoughtafter INVESTMENT MARKET area are c.£70 psf. Q1 2018,versus the10year average of3.20%.Prime rents inthe 1.40%. Theoverall vacancy rateisalsolow, office at 1.50% asat standing at1.00% asatQ12018,versus the10year average of Grade Avacantspaceisextremely low inthissubmarket, currently around 5.00% oftheWest market asawhole. Endoffice Kensington &Chelsea,totalling4.7 millionsqft,which represents uses, suchasresidential. Total stockis relatively office low in buildingshave beenconvertedof periodoffice tohighervalue givenKensington thatalarge ofoffices proportion hasashortage OCCUPATIONAL MARKET WEST ENDOFFICEMARKET
KELSO 19 PLACE CONTACTS
For further information or to arrange an inspection of the property, please contact:
MILTON KARAMANI FRANCESCA SPILLER
[email protected] [email protected] 0207 852 4269 0207 087 5569
TENURE The property is held freehold under title number LN67310, the extent of which is outlined on the site plan. The total site measures 0.102 acres KELSO PLACE (0.041 hectares).
TENANCY
The property will be offered with full vacant possession.
PLANNING
27 Kelso Place lies within the jurisdiction of the Royal Borough of Kensington and Chelsea. The property is not listed but does lie within the
De Verve Conservation Area. KELSO PLACE KELSO
VALUE ADDED TAX (VAT)
The property is not registered for VAT.
EPC
The property has an Energy Performance Rating of C (61). A copy of the EPC is available upon request.
PROPOSALS
Offers are invited for our client’s freehold interest. Our client will also consider offers on an occupational basis.
Misrepresentation Act
Important Notice: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Jones Lang LaSalle in the particulars or by word of mouth or inwriting (“information”) as being factually accurate about the property, its condition or its value. Jones Lang LaSalle has no 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. 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. 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. The VAT position relating to the property may change without notice.
September 2018. fetchagency.com