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Freehold redevelopment opportunity in the heart of Fitzrovia

England, United Kingdom

76%

£24.000.000

Office

#34008

Value-Add

28 Oct 2024

Property Details

Broker

For sale

20,677 sq.ft.

1,921 m²

NIA

1,160 £/sq.ft.

12,493 £/m²

1

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

Prominent dual corner location with an extensive frontage onto New Cavendish Street. Located in the heart of Fitzrovia, one of London’s most sought after sub-markets on account of its excellent amenity and connectivity. Existing building comprises 20,677 sq ft (1,921 sq m) NIA arranged over lower ground, ground and four upper floors. Exceptional ESG credentials targeting minimum ratings of EPC A, BREEAM Excellent, Net Zero Carbon and WELL Enabled Platinum. Non-Material Amendment (NMA) submitted for enlarged sixth floor club room and updated fifth floor façade design to create 22,589 sq ft (2,099 sq m) NIA (the ‘Proposed Scheme’). Fitzrovia has a significant Grade A office supply shortfall with prime rents now well in excess of £120 per sq ft for the very best buildings