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Portland Place HEADER Copy SEVENTEEN PORTLAND PLACE LONDON W1 1 SEVENTEEN PORTLAND PLACE INVESTMENT SUMMARY Prominently located on Portland Place at its junction with Duchess Street, in close proximity to Marylebone High Street, Oxford Circus and The Langham Hotel. Virtual Freehold – 906 years unexpired at a fixed ground rent of £3,500 per annum. Grade II* listed. Imposing corner period office building totalling 8,968 sq ft (833.4 sq m) NIA & 12,937 sq ft (1,201.9 sq m) GIA arranged over lower ground, ground and four upper floors. Vacant possession. Suitable for owner occupier office users as a HQ / family office building. Residential permission for a single dwelling was granted on 21st June 2016. A full copy of the application and plans can be found on the City of Westminster council website – application no. 15/07931/FULL. Offers are invited for the benefit of our client’s virtual freehold interest. SEVENTEEN PORTLAND PLACE HYDE PARK R E G E N T S T SOHO R E MAYFAIR E T LIBERTY BOND STREET BOND STREET OXFORD STREET OXFORD CIRCUS OXFORD STREET CAVENDISH SQUARE FITZROY PLACE MARYLEBONE BBC BROADCASTING HOUSE GREAT PORTLAND STREET NEW CAVENDISH STREET PORTLAND PLACE FITZROVIA LOCATION HEADER Originally designed by Robert and James Copy Adam in the late 18th Century, Portland Place runs south from Park Crescent to Langham Place, leading through to Regent Street and Oxford Circus. The Street is impressive and unusually wide (33m/110ft), mainly comprising a variety of striking Adam and John Nash designed period office and residential buildings. Portland Place is also home to the world renowned 5 star Langham Hotel as well as the BBC Broadcasting House, The Royal Institute of British Architects Headquarters and The Chinese Embassy. Bounded by the exclusive Mayfair to the south, Regent’s Park to the north and vibrant Fitzrovia to the east, Marylebone is renowned as one of London’s most trendy and fashionable commercial and residential locations. Marylebone’s two largest landowners, The Howard De Walden and The Portman Estates, have upheld the heritage of the area creating a vibrant, desirable location for commercial and residential occupiers. Centred around Marylebone Village, the area provides an alluring and eclectic mix of high end residential accommodation, boutique and designer retail shops, top quality restaurants and both modern and period office accommodation. SEVENTEEN PORTLAND PLACE 6 7 SEVENTEEN PORTLAND PLACE The Langham Hotel HEADER HEADER Copy Copy SEVENTEEN PORTLAND PLACE 8 9 SEVENTEEN PORTLAND PLACE LEISURE UNDERGROUND LINES KEY 1 LANGHAM HOTEL 2 THE WESTBURY BAKERLOO EUS 3 TOCHANDOSN HOUSE CIRCLE 4 SOHO HOUSE 5 THE SANDERSON CENTRAL 6 RIDING HOUSE CAFÉ 7 CHARLOTTE STREET HAMMERSMITH & CITY HOTEL JUBILEE CORPORATIONS METROPOLITAN COMMUNICATIONS 1 BBC EUSTON 2 BT NORTHERN SQUARE 3 ROYAL INSTITUTE OF 1.1 MILES BRITISH ARCHITECTS VICTORIA 4 CHINESE EMBASSY WARREN GOWER 5 THE STREET ROYAL SOCIETY STREET OF MEDICINE 6 UNIVERSITY OF Benefiting from excellent transport links with numerous London underground and National rail stations TOT WESTMINSTER in close proximity providing easy access throughout Central London and beyond. TENHAM COURT ROA RETAIL FITZROY 0.4 MILES SQUARE 1 JOHN LEWIS CROSSRAIL ELIZABETH LINE 0.4 MILES 2 LIBERTY LONDON 3 NIKE TOWN Bond Street Station will be one of Central London’s best connected transport hubs. 4 ZARA 5 HOUSE OF FRASER 6 TOPSHOP/TOPMAN D 2 MAR T YLEBONE HIGH ST OUTH STREET GOODGE M 4 VENDISH STREET WEY 3 STREET N E W C A 0.6 MILES T WFORD STREE CRA STRATFORD T STANSTED PADDINGTON TOTTENHAM COURT ROAD LIVERPOOL STREE DUCHESS STREE GOODGE STREET 1 7 14 6 28 4 2 4 6 9 5 1 T 12 MORTIMER STREET 3 N K GEORGE STREE 6 F LUTO TOTTENHAM ATWIC COURT ROAD G AIRPORT 5 HEATHROW FARRINGDON WHITECHAPEL BOND STREET 3 6 1 SOHO 0.6 MILES SQUARE CANARY WHAR 5 4 0 JOURNEY TIME (MINUTES) 4 Marylebone will benefit from • Bond Street Station will be one • One quarter of the population of 0.5 MILES the arrival of Crossrail at Bond of the five key Central London England will be able to reach Bond 2 Street Station in 2018 with increased Crossrail stations Street Station within 45 minutes visitor numbers expected to flow • Over 140 trains per hour will flow • Providing direct links to 3 of into the area. through Bond Street Station London’s major airports: Heathrow, Gatwick and Luton • London journey times reduced by up to 70% 2 Not to scale. SEVENTEEN PORTLAND PLACE 10 Indicative only. Prominently located in Marylebone at the junction of Portland Place and Duchess Street occupying an imposing corner plot with large frontages to both streets. SEVENTEEN PORTLAND PLACE 12 13 SEVENTEEN PORTLAND PLACE DESCRIPTION Originally constructed as a single residential dwelling with a mews house to the rear (now sold off) in the late 18th Century, 17 Portland Place comprises a Grade II* listed John and Robert Adam designed prominent corner office building with an attractive Portland Stone and brick façade. Arranged over lower ground, ground and four upper floors the building benefits from excellent natural light to 3 of its 4 elevations and totals 8,968 sq ft (833.4 sq m) NIA and 12,937 sq ft (1,201.9 sq m) GIA. It is accessed via an impressive stone portico entrance on Duchess Street and benefits from the following specification: Two stair cores Comfort cooling in part 1 passenger lift serving all floors. Mixture of perimeter trunking and under floor power Attractive shared terrace Ornate decorative ceilings Most recently operated as a conference centre and last refurbished in the 1980’s, the building is currently in need of full refurbishment. SEVENTEEN PORTLAND PLACE 14 15 SEVENTEEN PORTLAND PLACE ACCOMMODATION FLOOR NIA NIA GIA GIA SQ FT SQ M SQ FT SQ M Fourth 1,021 94.9 1,338 124.3 Third 1,299 120.8 1,492 138.6 Second 1,043 96.9 1,730 160.7 First 1,246 115.8 1,725 160.3 Ground 1,218 113.2 1,732 160.9 Lower 3,141 291.8 4,920 457.1 Ground TOTAL 8,968 833.4 12,937 1,201.9 SEVENTEEN PORTLAND PLACE 16 17 SEVENTEEN PORTLAND PLACE EXISTING FLOOR PLANS Not to scale. Indicative only. LOWER GROUND SECOND FLOOR GROUND THIRD FLOOR DUCHESS MEWS PORTLAND PLACE DUCHESS STREET FIRST FLOOR FOURTH FLOOR TENURE TENANCY Virtual freehold from Howard De Walden Estates Ltd Vacant possession. from 6th April 1945 for a term of 977 years (c.906 years unexpired) at a current ground rent of £3,500 per annum. The head lease states the property can be used for the following purposes: A private residential dwelling Self-contained apartments or maisonettes, Consulting rooms for medical, surgical or dental practitioners General office use There are restrictions on certain uses and we would advise interested parties to refer to the head lease for further detail. M C E A W V E S N S D O I ET S E U TR H H S T IS H END CAV NEW PORTLAND PLAC D U C H E E S S M E W S 7 1 REET 1 ST 7 HESS DUC M BBC A N SF I EL D ST R E S E EW LD M T SFIE MAN Not to scale. For identification purposes only. This plan is based upon an ordnance survey map with sanction of the Controller of the HM Stationery Office. Crown copyright reserved. SEVENTEEN PORTLAND PLACE 20 21 SEVENTEEN PORTLAND PLACE PLANNING / DEVELOPMENT / REFURBISHMENT OPPORTUNITY Grade II* Listed and situated within the Borough of Westminster and The Harley Street Conservation Area. The existing building has B1 office use throughout. 17 Portland Place provides a rare opportunity to acquire a vacant period office building suitable for refurbishment under several different use classes: OFFICE USE: RESIDENTIAL: MEDICAL / DENTAL USE: Previously used as a conference Full planning consent was granted In keeping with the high centre, the building would be ideally on 21st June 2016 to convert concentration of medical/dental suited for a high end refurbishment the existing office building into a practices in the local area and to provide a HQ/ family office luxury 6 bedroom private family centred around Harley Street building or could alternatively suit home (Class C3) within the existing the property could be converted serviced offices. massing. Further information is (STPP) to provide high class private available on Westminster City medical/dental/surgical/consulting Council’s website with the reference rooms. 15/07931/FULL. SEVENTEEN PORTLAND PLACE 22 23 SEVENTEEN PORTLAND PLACE CONSENTED RESIDENTIAL FLOOR PLANS Not to scale. Indicative only. LOWER GROUND SECOND FLOOR GROUND THIRD FLOOR DUCHESS MEWS PORTLAND PLACE DUCHESS STREET FIRST FLOOR FOURTH FLOOR FURTHER INFORMATION VAT DATA ROOM EPC 17 Portland Place is not VAT Further information can be found in 17 Portland Place has an EPC registered and therefore VAT will a data room with access issued upon rating of D (85). not be payable on the purchase. request. PROPOSAL Offers are invited for the benefit of our client’s virtual freehold interest. CONTACT For further information or to arrange an inspection, please contact: Mark Shipman James Bailey Direct Line: 020 7529 5708 Tel: +44 (0) 20 7235 8861 [email protected] [email protected] Scott Lister Direct Line: 020 7529 5704 www.henryandjames.co.uk [email protected] Peter Ng Direct Line: +65 963 85255 [email protected] www.michaelelliott.co.uk Declaration: Michael Elliott and Henry & James for themselves and for the vendors of this property whose agents they are, give notice that: a) the particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; b) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them; c) no person in the employment of Michael Elliott or Henry & James has any authority to make or give any representations or warranty whatever in relation to this property.
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