Offers invited
Confirmation
Highly distinctive landmark building
Property Details
Broker
Sold
62,777 sq.ft.
5,832 m²Leasable area
Leasehold
84
Fees
Investment Overview
Highly distinctive landmark building occupying a substantial corner site of 0.39 acres (0.16 hectares). Excellent transport links which have been enhanced by the opening of Crossrail (Elizabeth line) with direct access to Bond Street station. 62,777 sq ft (5,832.3 sq m) of existing accommodation, over lower ground, ground and seven upper floors. Well configured floorplates of up to 7,509 sq ft with excellent natural light throughout. Conde Nast Publications Limited may require a short-term leaseback across the office accommodation for a maximum term of two months. The retail unit is currently let to ITSU Limited at a contracted rent of £90,000 per annum, expiring on 24 March 2025. ITSU Limited entered into CVA on 31 July 2020 and the rent was reduced to £75,000 per annum. Held long leasehold from The Church Commissioners for England, expiring on 24 March 2108 (approximately 84.5 years unexpired) with a current headrent of £395,750 per annum.Opportunity to deliver the Orms designed scheme for a refurbishment and extension of the existing building with a total proposed area of 88,074 sq ft (25,297 sq ft NIA uplift) and 6 floors with external private terracing,
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