Buckingham Gate
Total Page:16
File Type:pdf, Size:1020Kb
4 - 5 BUCKINGHAM GATE LONDON SW1 RARE PRIME FREEHOLD OPPORTUNITY 4-5 BUCKINGHAM GATE 4-5 BUCKINGHAM GATE 4 - 5 BUCKINGHAM GATE 2 3 4-5 BUCKINGHAM GATE 4-5 BUCKINGHAM GATE INVESTMENT SUMMARY Prominently located on the prime section of Buckingham Gate, directly opposite Buckingham Palace in the heart of St James’s Park Freehold Grade II Listed corner office building totalling 25,881 sq ft (2,404.4 sq m) NIA Single let to the Metropolitan Police Authority on a FR&I lease expiring 14 February 2020 (the tenant is not in occupation) Current passing rent of £1,035,000 per annum (only £39.99 per sq ft overall) Prime rents in the area have now reached £87.50 per sq ft Suitable for owner occupiers Range of refurbishment/development options to include office, hotel, educational, residential and serviced apartments Offers invited for the Freehold interest 4 5 4-5 BUCKINGHAM GATE 4-5 BUCKINGHAM GATE Green Park St James’s Square Buckingham Palace 4-5 Buckingham Gate Houses of Parliament Westminster London Victoria Cathedral St James’s Park St James’s Park Trafalgar Square 6 7 4-5 BUCKINGHAM GATE 4-5 BUCKINGHAM GATE ST JAMES’S PARK PROMINENTLY POSITIONED IN THE ST JAMES’S PARK – A HIGHLY DIVERSE RESIDENTIAL, OFFICE, RETAIL AND LEISURE DESTINATION Located south of Mayfair and As the office occupier base east of Belgravia, the area is has improved so too have the one of Central London’s most restaurant and leisure provisions, exciting West End submarkets. with the area now playing host to some of London’s best St James’s Park is a location of restaurants bars and hotels choice for an ever-growing list including The Grosvenor Hotel, of prestigious office occupiers, Hotel 41, The Goring Hotel, fashionable residential schemes, Caxton Grill, Cinnamon Club high quality restaurants and and Osteria Dell’Angolo. exclusive hotels. With good accessibility to Traditionally synonymous with London’s public transport government occupier’s due to its network, St James’s Park affords proximity to Parliament, Downing local occupiers excellent Street and Whitehall, its appeal connectivity throughout Central today is far wider spread. London and beyond. In addition, An influx in new landmark it benefits from proximity to developments has attracted three of London’s most famous St James’s Park and Buckingham Palace major office, retail, fashion parks which are all within and media brands including walking distance. The area’s Microsoft, Google, Burberry proximately to some of London’s and Tom Ford. most prestigious landmarks has made it a desirable place to visit, work and live. 8 9 4-5 BUCKINGHAM GATE 4-5 BUCKINGHAM GATE 10 11 4-5 BUCKINGHAM GATE FORTNUM 4-5 BUCKINGHAM GATE & MASON THE DORCHESTER SITUATION THE RITZ HILTON PARK LANE 4-5 Buckingham Gate occupies a prominent end of terrace position FOUR directly opposite Buckingham SEASONS Palace in the heart of the St James’s Park section of Victoria, with Stafford Place located immediately HYDE PARK to the rear of the property. CORNER T H E M A L L MANDARIN ORIENTAL Local developments: THE LANESBOROUGH 1 No.1 Palace Street 2 Victoria Station BUCKINGHAM PALACE 3 Nova, Victoria Street 4 Verde, Bressenden Place HOUSES OF 16 5 1 Portland House 17 PARLIAMENT HARROD’S 4 - 5 6 The ZigZag Building 10 BUCKINGHAM GATE 12 7 62 Buckingham Gate 4 9 13 7 8 1-5 Howick Place 11 3 5 6 9 1,2 & 3 Buckingham Green 18 10 10 Broadway (New Scotland Yard) 8 19 11 55 Victoria Street 14 12 1 Victoria Street 13 Sanctuary Buildings 15 2 14 The Peak 15 25 Wilton Road 16 18-19 Buckingham Gate VINCENT SQUARE 17 25 Buckingham Gate 18 32-24 Great Peter Street 19 73 Great Peter Street TATE BRITAIN Not to scale. Indicative only 12 13 ROYAL HOSPITAL CHELSEA 4-5 BUCKINGHAM GATE 4-5 BUCKINGHAM GATE LOCAL DEVELOPMENTS 13 Sanctuary Buildings Developer: Blackstone VICTORIA HAS ATTRACTED SIGNIFICANT DEVELOPER INTEREST IN RECENT Development: 227,000 sq ft of office accommodation YEARS DUE TO STRONG OCCUPIER DEMAND, GROWING AMENITY AND Practical Completion: Expected 2020 FAVOURABLE BUILDING STOCK 10 10 Broadway (New Scotland Yard) Developer: Abu Dhabi Financial Group Development: 425 residential units, 146,000 sq ft of offices and 38,000 sq ft of retail Practical Completion: Expected 2021 1 No.1 Palace Street 4 Verde, Bressenden Place 7 62 Buckingham Gate 14 The Peak 17 25 Buckingham Gate Developer: Northacre Developer: Tishman Speyer Developer: Land Securities Developer: AXA Developer: Dukelease Development: 72 Luxury apartments Development: 282,000 sq ft of offices Development: 277,000 sq ft of office Development: 97,994 sq ft of office Development: Planning consent Practical Completion: 2017 accommodation with 20,000 sq ft and retail accommodation and retail accommodation obtained in 2015 for the conversion of of useable roof gardens Completed: 2013 Completed: 2009 the existing office accommodation into Completed: 2016 24 residential apartments 2 Victoria Station 5 Portland House 8 1-5 Howick Place 18 32-34 Great Peter Street Developer: TFL Developer: Land Securities Developer: Doughty Hanson 11 55 Victoria Street 15 25 Wilton Road Development: £700m upgrade Development: Planning consent for Development: 172,500 sq ft of office Developer: Alchemi Group Developer: Royal London Developer: Qatari Diar Practical Completion: 2018 c.300,000 sq ft conversion to residential accommodation Development: 75,000 sq ft Development: 80,000 sq ft of office Development: Planning Consent use (206 apartments) Completed: 2012 of residential accommodation accommodation obtained for the redevelopment of the Practical Completion: c.2022 Completed: 2016 Practical Completion: 2017 site to create 21 residential units 3 Nova, Victoria Street 6 The ZigZag Building 9 1,2 & 3 Buckingham Green 12 1 Victoria Street 16 18-19 Buckingham Gate 19 73 Great Peter Street Developer: Land Securities Developer: Land Securities Developer: London & Oriental Developer: Mitsubishi Estates Developer: GSP Real Estate Developer: Taylor Wimpey Development: 900,000 sq ft of Development: 235,000 sq ft of office Development: 140,000 sq ft of mixed Development: 500,000 sq ft Development: Planning consent Development: Residential led scheme mixed use accommodation and retail accommodation use accommodation redevelopment obtained in 2015 for the redevelopment of 22 apartments and 2 penthouses with Practical Completion: 2017-2018 Practical Completion: 2015 Practical Completion: 2018 Practical Completion: Expected 2021 of the existing building into 14 residential retail at ground floor level apartments Completed: 2015 14 15 4-5 BUCKINGHAM GATE 4-5 BUCKINGHAM GATE COMMUNICATIONS INFRASTRUCTURE IMPROVEMENTS / UPGRADES EXCEPTIONAL TRANSPORT CONNECTIVITY 4-5 Buckingham Gate is situated to benefit from both the £700m regeneration of Victoria Station (scheduled to complete in 2018) and the implementation of Crossrail 2, a major new north/south underground rail line (scheduled to be completed by 2030). VICTORIA STATION With approximately 80 million customers annually, London Victoria is the second busiest railway station in the UK. The £700m upgrade will include: A new underground north ticket hall Piccadilly Enlargement of the existing south ticket hall A new interchange tunnel between north and London 22 minutes Charing Cross south ticket halls Nine new lifts and escalators, improving accessibility and minimising commuter change 21 minutes over distances Green Park The new Victoria Station entrance 12 minutes London Waterloo Hyde Park Corner CROSSRAIL 2 Westminster 29 minutes 14 minutes Crossrail 2 is currently in the planning phase and construction is not St James’s Park expected to begin until the early 2020s. However once completed it will provide a network for an additional 270,000 commuters into Central London 15 minutes 8 minutes daily, connecting Surrey in the south to Hertfordshire in the north, it is 4 - 5 anticipated to boost London’s rail capacity by up to 10% and provide up to 30 trains per hour. BUCKINGHAM GATE CROSSRAIL 2 - ROUTE MAP London Victoria 9 minutes Pimlico 19 minutes 16 17 4-5 BUCKINGHAM GATE 4-5 BUCKINGHAM GATE DESCRIPTION AN IMPRESSIVE STUCCO FRONTED, GRADE II LISTED VICTORIAN BUILDING OFFERING FLEXIBLE OFFICE ACCOMMODATION Constructed in the mid-19th century, 4-5 Buckingham Gate is a stucco fronted, Grade II Listed Victorian building, arranged over lower ground, ground and 4 upper floors totalling 25,881 sq ft (2,404.4 sq m) NIA and extending to approximately 0.33 hectares (0.83 acres). The building benefits from two impressive portico style entrances, one fronting Buckingham Gate (No.5) and the other from the building’s return frontage (No.4). There is also access from Stafford Place at the rear. The floorplates are rectangular in shape and benefit from excellent natural light on three elevations across all floors. Existing floors offer a mix of open plan and cellular layouts. Given the position of the core the accommodation also provides valuable flexibility through easily divisible floor plates. Floor to ceiling heights on ground and first floors are c.3.5m. The building benefits from the following existing office specification: Two x 8-person passenger lifts serving all floors Two stair cores Suspended ceilings Perimeter trunking Comfort cooling and perimeter radiators Male and female WCs on each floor Exceptional floor to ceiling heights at ground and first floor levels 18 19 4-5 BUCKINGHAM GATE 4-5 BUCKINGHAM GATE ACCOMMODATION FLOOR PLANS The property has been measured by Lane and Frankham in accordance with the RICS Code of Measuring LOWER GROUND Practice (6th Edition)