Property Overview
-
- Size:
- Undisclosed
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- Usage:
- A1, A2, B1
-
- Sale Type:
- For Sale
-
- Rental Income:
- N/A
-
- Property Type:
- Offices
- High Street
-
- Auction:
- No
-
- Development Opportunity:
- Yes
-
- Investment Opportunity:
- No
-
- Tenanted:
- No
-
- Energy Rating:
- N/A
General Summary
This existing B1 building occupies a bold 0.06 acre site on the junction of Upper St Martins Lane and Tower Street, having the benefit of 75’ of Frontage, on the borders of Covent Garden and Leicester Square. Although a Grade II Listed building we are of the opinion that the Local Authority will be in favour of a sympathetic refurbishment to provide an A1/A2 use on Ground Floor and Basement with a residential scheme above
The existing 6,000 sq. ft. building (approx.) is planned over Lower Ground – 5th Floors, as follows:
Ground 939 sq. ft.(833 sq. ft. ITZA)
Basement 831 sq. ft.
1st 780 sq. (930 sq. ft. GROSS)
2nd 780 sq. (930 sq. ft. GROSS)
3rd 780 sq. ft. (930 sq. ft. GROSS)
4th 701 sq. ft. (745 sq. ft. GROSS)
5th 526 sq. ft. (635 sq. ft. GROSS)
PRICE – Offers invited excess of £3.8m subject to contract. Our clients are seeking unconditional offers with a conventional 28 day completion period following an exchange of contracts
NB – FROM INFORMAL DISCUSSIONS WITH THE LOCAL AUTHORITY IT WOULD SEEM a 1 and 2 BEDROOM FLAT SCHEME +PENTHOUSE WOULD BE FAVOURABLY VIEWED – We are of the opinion that “end values” will exceed £1000 sq .ft for flats and £1200 sq ft for a Penthouse
The Ground Floor and Basement will achieve a rent exceeding £65,000 per annum exclusive once self – contained
