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A Freehold Investment Opportunity London, W1

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A Freehold Investment Opportunity London, W1 A FREEHOLD INVESTMENT OPPORTUNITY LONDON, W1 1 44 Whitfield Street 44 WHITFIELD STREET INVESTMENT SUMMARY • Located on the east side of Whitfield Street in Fitzrovia, close to Charlotte Street, Fitzroy Place and the new Elizabeth Line station at Tottenham Court Road. • Freehold. • Comprehensively refurbished in 2016 behind a new glazed brick façade. • The building extends to 12,031 sq ft (NIA) over ground and five upper floors. There is no lower ground or basement accommodation. • Grade A specification including VRF air-conditioning, LED lighting and fully accessed raised floors. The top three floors benefit from terraces. • Multi-let to four tenants with the ground floor under offer. Once that lease completes the building will provide a WAULT of c. 4.8 years to expiry and 2.8 years to break. Seeking offers in excess of £21,650,000 (Twenty One Million Six Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT, which reflects a net initial yield of 4.06% after allowing for purchaser’s costs of 6.80%. 2 3 44 Whitfield Street represents an extremely THE CITY rare opportunity to acquire a newly refurbished Grade A freehold office building on one of Fitzrovia’s best streets. CENTRE POINT CENTRAL ST GILES TOTTENHAM CR BRITISH MUSEUM SOHO SQ OXFORD ST 80 CHARLOTTE ST BT TOWER Aerial view of London 4 5 44 WHITFIELD STREET LOCATION 44 Whitfield Street is located on the east side of the street opposite the junction with Scala Street. Whitfield is one of Fitzrovia’s prime streets running parallel to Charlotte Street and Tottenham Court Road. Fitzrovia is among London’s most vibrant and sought after locations. Nearby office occupiers include Facebook, Arup and Estée Lauder. Amenities include The London Edition, The Mandrake and The Sanderson Hotels, along with numerous galleries. Restaurants include Roka, Bubbledogs and Hakkasan. Berners Tavern Rathbone Square Fitzrovia continues to benefit from large scale development, Derwent London’s landmark 80 Charlotte Street scheme is 100 metres to the north of the property. The London Edition Salt Yard 6 7 Warren Street OAD N R STO AY EU EET W STR ON REN T WAR AF R G W H ITF IE L D S N T 4 R E E T Fitzroy Square C L E Garden G V O E W L A E N AY R D W S S N T G T TO R R F EE R A T 37 E E R E T T A E G E T O T STR T TI E T PL E TC A N M H H A F M I E E C C L O A F L D IT U P R N S Z R T TO T O G R R IN E Y O R B A R E S O O T T D T L R T S E 27 E E O E R T T V S W D E H N R A L I S T W F O T H IE R L EE D S T T R E E 26 T 36 G O W E R S T R E 8 E T T E G E R R 16 T 17 S E 6 M A T 35 EE A R T T H S H N IS E POR ND C T E T AV L C O Goodge E T EW G V N T R E Street L L E 3 34 A 20 A A N C N T D H D T T S A E S G IT T R E R L TR O R 13 C T E O S H S E T E T F Y TE E F I E T E I L T E 24 L O S O L T D F T D R W T S E E S E H T N T T I R T H R F E A E I E E M E T L T T E 32 RE D C T S O E S T U R E R R A S 11 EE U U T SQ O 1 T R H 29 O RD G A FO IN 2 D D ED RI 18 B 19 Bedford ET 7 Square RE 22 ST ER IM 23 RT T O EE M 25 TR 10 S 28 33 CY Charlotte Street 12 ER 15 P 14 31 21 G 5 R E A T P O R T L AN 30 D S T R E E T 9 REGENT STREET STREET OXFORD Tottenham Court Road STREET OXFORD EATING AND DRINKING 1 Pied à Terre 8 Lokhandwala 2 Roka 9 Berners Tavern Oxford Circus 3 Noizé 10 Charlotte Street Hotel 4 La Tagliata 11 Draft House, Queen Charlotte 5 Lima 12 Riding House Café 6 Bubbledogs 13 Reverend JW Simpson 7 Señor Ceviche 14 Mortimer House ART & LIFESTYLE OCCUPIERS 15 Rosenfeld Porcini 21 The Disguisery 27 Arup 34 Fletcher Priest Architects 16 Woolff Gallery 22 Sharps Barbers 28 BBC 35 BT 17 FOLD Gallery 23 Jonathan Quearney 29 Estée Lauder 36 Double Negative 18 Rebecca Hossack 24 Black Eyewear 30 Facebook 37 EDF Energy Art Gallery 25 Rivet & Hide 31 Lionsgate Films 26 Heals 19 Nancy Victor 32 Netflix Noizé The House of Hô 20 Epoch Fitness 33 Capita PLC Not to scale. For identification purposes only. 8 9 COMMUNICATIONS Tottenham Court Road, Goodge Street and Warren Street underground stations are all within a eight-minute walk of the property, giving access to the Central, Victoria and Northern lines. Tottenham Court Road station will be transformed by the opening of the Elizabeth Line (Crossrail) providing a direct fast connection to Liverpool Street, Canary Wharf and London Heathrow Airport. The Elizabeth Line is one of Europe’s largest infrastructure projects connecting 41 stations and increasing Central London rail capacity by c. 10%. TRAVEL TIMES Station Mins Mode UNDERGROUND GOODGE STREET 2 TOTTENHAM COURT ROAD 8 WARREN STREET 8 King’s Cross St Pancras Via Goodge Street 8 min EUSTON 2 London WATERLOO 6 Euston 2 min walk London KING’S CROSS ST PANCRAS 8 2 min Bank Bridge Goodge Street 13 min 16 min Via Tottenham Court Road LIVERPOOL STREET 9 Paddington Marylebone Oxford Circus HEATHROW 36 21 min 17 min 8 min Charing Cross 3 min Journey times sourced from crossrail.co.uk/tfl.co.uk/maps.google.co.uk Waterloo 6 min ELIZABETH LINE 8 min walk Heathrow Liverpool Canary Reading Central Paddington Bond Street Tottenham Street Wharf 56 min 28 min 5 min 2 min Court Road 5 min 12 min Underground lines Elizabeth line Centre Point Walking route 10 11 Centre Point, New Oxford Street 44 WHITFIELD STREET LOCAL DEVELOPMENTS The area around Tottenham Court Road is being transformed by the delivery of the new Elizabeth CENTRE POINT Line station. Once completed the station will offer New Oxford Street an interchange between the Northern, Central Almacantar scheme. Refurbishment and conversion and Elizabeth Lines with capacity for more than of the iconic Grade II listed tower into residential 170,000 passengers every day. apartments, retail and leisure. Completes in 2019. The Elizabeth Line has acted as a catalyst for a series THE POST BUILDING of significant local developments including Centre New Oxford Street Point, St Giles Circus, Soho Place and Brockton Capital development. Comprehensive The Post Building. refurbishment of a former Royal Mail sorting office. Scheme totals 320,000 square feet with pre-lets to Large scale public realm improvement works are Rothesay Life and McKinsey. Completes in 2019. also underway including the creation of a new One Soho Place public piazza outside Centre Point. The Post Building, New Oxford Street ONE SOHO PLACE Derwent London scheme directly above the new Crossrail station at Tottenham Court Road. 209,000 sq ft of offices, 36,000 sq ft of retail and a new 40,000 sq ft theatre. Offices pre-let to 80 CHARLOTTE STREET G-Research. Anticipated completion in 2022. Derwent London developing. Mixed use scheme NETWORK BUILDING delivering 321,000 sq ft of offices, 45,000 sq ft of Tottenham Court Road residential and 14,000 sq ft of retail. Office pre-lets secured with Boston Consulting Group and Arup. Derwent London scheme running from Anticipated completion in H1 2020. Whitfield Street to Tottenham Court Road. Potential 100,000 sq ft scheme. Earliest construction start in 2021. 80 Charlotte Street St Giles Circus, Denmark Street ST GILES CIRCUS Denmark Street Consolidated Developments scheme. Mixed use development combining retail, leisure, office and residential. Anticipated completion in 2020. Network Building, Tottenham Court Road 12 13 44 WHITFIELD STREET DESCRIPTION AND SPECIFICATION 44 Whitfield Street offers 12,031 sq ft of Grade A office accommodation over ground and five upper floors. The building was comprehensively refurbished, behind a new façade, in 2016. The scheme was designed by Brimelow McSweeney Architects and shortlisted for best London office scheme in the 2017 RICS Awards. The specification is as follows: • Exposed VRF air conditioning with suspended plasterboard rafts • 150mm fully accessible raised floor • LED lighting throughout • Demised WCs, showers and lockers • 8 person passenger lift • Excellent views and natural light 44 Whitfield Street reception 14 15 44 WHITFIELD STREET AREA SCHEDULE Demise Area (sq ft) Area (sq m) 5TH FLOOR 890 82.70 4TH FLOOR 1,862 173.00 3RD FLOOR 2,026 188.20 2ND FLOOR 2,372 220.40 1ST FLOOR 2,300 213.70 GROUND 2,173 201.90 RECEPTION 408 37.90 TOTAL 12,031 1,118 The measured survey of the property can be assigned to the purchaser.
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