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XXXXXXX XXXXXXX FARRINGDON FARRINGDON46–48 FARRINGDON GROSVENOR FARRINGDON GARDENS LONDON SW1 OFFICE CORE LIFT TERRACE The Amundi Collection Grosvenor Gardens – London INVESTMENT SUMMARY Located in exclusive Belgravia in the West End of London, benefitting from excellent transport connectivity situated just two minutes’ walk from Victoria station. Long leasehold interest from Grosvenor Estate Belgravia with approximately 113 years unexpired at a headrent of 10% of rents received. Prominent Grade II listed property fronting Grosvenor Gardens. Approximately 16,931 sq ft of office and ancillary accommodation, arranged over lower ground, ground and five upper floors. Highly specified, flexible floor plates of between 1,252 sq ft and 3,999 sq ft, with the top floor benefitting from a generous south-facing private terrace with views over Belgravia. Substantially refurbished in 2008. Multi-let to a diverse selection of office tenants. WAULT of 2.1 years to lease expiries. Constrained office supply in Victoria and Belgravia, with an exceptionally low Grade A vacancy rate of circa 1.80%, providing excellent prospects of future rental growth. Total gross passing rent of £996,367 per annum (inclusive of rental guarantee), which equates to only £60.39 per sq ft overall. This compares favourably with current prime headline rents in Victoria of circa £77.50 per sq ft. Offers are invited in excess of £17,600,000 subject to contract and exclusive of VAT, for our client’s long leasehold interest in 46–48 Grosvenor Gardens. This represents an attractive net initial yield of 5.00% and a low capital value of £1,040 per sq ft, assuming acquisition costs of 1.80% through the purchase of the Luxembourg SARL. MAYFAIR ST JAMES’S BUCKINGHAM THE CITY HOUSES OF SQUARE PALACE PARLIAMENT WESTMINSTER STATION LOCATION ST JAMES’S PARK STATION 46–48 GROSVENOR VICTORIA GARDENS STATION LONDON SW1 PROPOSED THE GORING NOVA OFFICE ‘CLEVELAND CLINIC’ HOTEL SCHEME For indicative purposes only. 46–48 Grosvenor Gardens - London 4 | 5 LOCATION LOCAL OCCUPIERS ISLINGTON Y o r k W a y SHOREDITCH British Victoria, part of the City of Westminster is a well established, P Library The property is situated in Belgravia, a This prestigious location, just two minutes’ r Regent’s Park k Cit R y R sought after office location forming an integral part of the o o a a d d neighbouring Victoria and to the south of oad G walk from Victoria station, is surrounded by a West End of London. Victoria has a diverse range of local R r ton a us y E ’s I n occupiers including: n Madame Mayfair, two of London’s most exclusive R wealth of world class amenities including some Tussauds o a d ad ad Ro ll Ro office markets. one enwe of the finest Michelin star restaurants, luxury yleb Clerk • Microsoft • Moneycorp Mar 5* hotels and substantial open green spaces. FITZROVIA CITY OF LONDON • Credit Suisse • Burberry MARYLEBONE British Museum Street Oxford Guildhall • John Lewis • BHP Billiton Marble Arch SOHO rk Lane yde Pa H B St Paul’s • Boeing • The Telegraph l a c Cathedral k P f a MAYFAIR r i rk W a r Lan d a s Trafalgar n te lly a B e i tr r d Square lo r • Jimmy Choo • Channel 4 a S i c o d ic B g P r e id Hyde Park s g ST JAMES’S e e m a h • E.ON UK • Her Majesty’s Government T ll a r M St James’s e e Buckingham h v London T Park i Palace R SOUTHBANK Green Eye Hyde Park Park Corner Westminster Bridge V Imperial War a u New xh Museum Kent Roa a d ll B s t ri t d g u e B R n o o BELGRAVIA a t d g n LAMBETH i w PIMLICO e N The property is well positioned fronting Lower Grosvenor Gardens, an idyllic public garden. 46–48 Grosvenor Gardens occupies a mid-terrace position on Grosvenor Gardens linking Buckingham Palace Road, Grosvenor Place and Victoria Street, all of which are major thoroughfares connecting Victoria to neighbouring Central London districts. Victoria has transformed in recent years into one of London’s premier destinations, attracting not just local residents and workers, but also international visitors. Victoria has extensive local amenity – with popular retailers, boutiques, acclaimed restaurants and award winning theatres. The property has been in the centre of this transformation, being only two minutes’ walk from Victoria station. The property is afforded open green space in the immediacy provided by Grosvenor Gardens as well as nearby Hyde Park, Green Park and Belgrave Square all within easy walking distance, adding to the exceptional working environment and amenity of this micro-location. LOWER GROSVENOR GARDENS The garden was redesigned in July 1952, in the French style and dedicated to Marshal Foch, a decorated hero of the First World War. The Gardens including the two shell huts were designed by Jean Moreux the then architect-in-chief of the National Monuments and Palaces of France. Some of the shell adorning the huts were brought over from France, while it was thought that others would also be sourced from English beaches – making for a cross-cultural construction. The huts were said to be ‘in the style of those small pavilions that were known as fabriques in eighteenth century France’ – the old French term for folly. 46–48 Grosvenor Gardens - London 6 | 7 CONNECTIVITY TRANSPORT CONNECTIONS PADDINGTON PROPOSED CROSSRAIL 2 The property benefits from excellent transport links, being located within Crossrail 2 is the next phase of Europe’s largest infrastructure KING’S CROSS investment programme, with Victoria due to be a key terminal on the 200m of Victoria station. ST PANCRAS proposed route. The programme is currently in the planning phase and construction is not expected to commence until the early 2020’s. The Victoria station mainline services provide swift access to the south east of the country proposals would increase Victoria station’s capacity by 24,000 people whilst Victoria Underground station provides access to the Circle, District and Victoria lines BOND TOTTENHAM per day and provide a direct link through central London, connecting serving Central London and beyond. The Jubilee line is also easily accessible at the nearby STREET OXFORD CIRCUS COURT ROAD London underground lines with National Rail services. Westminster Underground station. The high capacity rail line would connect south west to north east Victoria station is undergoing a major £700m regeneration project due to complete through London and beyond. The arrival of Crossrail 2 will secure this year. Victoria’s position as London’s busiest station. PICCADILLY The principle improvements include: CIRCUS • A new north ticket hall (opened in January 2018) KNIGHTSBRIDGE DALSTON SEVEN SISTERS • An enlarged south ticket hall 30 ALEXANDRA PALACE • New interchange tunnel connecting the two ticket halls GREEN PARK Trains per hour • Nine new escalators and step free access throughout the station into Victoria station ANGEL HEATHROW WESTMINSTER LONDON EUSTON VICTORIA BRIDGE ST PANCRAS SOUTH ST JAMES’S KENSINGTON PARK 10% WATERLOO TOTTENHAM Increase in London’s COURT ROAD rail capacity GATWICK VICTORIA Central Northern Mainline Rail Service Victoria Piccadilly Direct Airport Links KING’S ROAD CHELSEA Circle Bakerloo Heathrow Express 24,000 District Waterloo & City Gatwick Express People per day increase Metropolitan London Underground Eurostar CLAPHAM in Victoria station JUNCTION Hammersmith & City Crossrail (Elizabeth Line) Jubilee Crossrail 2 BALHAM NATIONAL RAIL TIMES FROM VICTORIA 270,000 TOOTING BROADWAY GATWICK AIRPORT 30 minutes Additional commuters in WIMBLEDON RAYNES PARK PORTSMOUTH 1 hour Central London during BRIGHTON 1 hour peak periods 46–48 Grosvenor Gardens - London 8 | 9 Hyde Park LOCAL DEVELOPMENT Corner THE PENINSULA Knightsbridge Westminster ACTIVITY LONDON BELGRAVIA St James’s Park THE CLEVELAND CLINIC THE BROADWAY KNIGHTSBRIDGE Victoria has seen more than £5 billion of commercial investment over the last five years with several landmark schemes proposed over the next few years. These developments continue to transform Victoria and Belgravia into one of London’s WESTMINSTER River Thames most vibrant commercial destinations, helping to attract a growing diversity of office tenants from all sectors. Victoria Key developments in the micro location include: THE PENINSULA LONDON, THE CLEVELAND CLINIC, THE BROADWAY, THE FORMER 1-5 GROSVENOR PLACE 33 GROSVENOR PLACE NEW SCOTLAND YARD CGIs of proposed London Peninsula Hotel CGI of proposed Cleveland Clinic CGI of proposed Ten Boadway development The Peninsula Hotels group is widely regarded as the most prestigious The proposed building also includes 24-28 residential apartments with a The Cleveland Clinic is a world leader in providing specialist medical Northacre Plc received planning consent in April 2016 for an iconic luxury hotel brand in the world. Established in 1928, The Peninsula Hotels separate leisure and spa facility, reception and entrance on Halkin Street. care. With established, well respected hospitals and clinics in the US, mixed use residential led development on the site of the former New now operate in ten major cities including the flagship in Hong Kong, plus Canada and UAE, they are bringing the same recognised level of medical Scotland Yard.