CHARLES STREET, MAYFAIR LONDON W1J 5PG

Transcription

1 TO BE OFFERED BY AUCTION ON THURSDAY 8TH MAR 09 (UNLESS SOLD PRIOR) ON THE INSTRUCTION OF V LIDDELL MRICS & A KISBY MRICS OF ALLSOP LLP AS JOINT FIXED ARGE RECEIVERS

2 8 9 INVESTMENT CONSIDERATIONS ~ A rare opportunity to purchase a prime residential opportunity located in the heart of Mayfair ~ Leasehold Approx. years unexpired ~ Comprising five self-contained flats ( x studio, x two bedroom & x three bedroom) ~ Net Saleable Area of Flats: 8. sq m (,0 sq ft) ~ Opportunity to extend the existing leasehold interest either by private agreement with the Freeholder or if qualifying by serving a Section 4 Notice ~ The entire building is occupied and the occupier claims to have a three year lease at an initial passing rent of 99,000 per annum (payable in arrears) - Lender to overreach this lease at completion ~ Potential to complete the current programme of works or to undertake further redevelopment / reconfiguration works, subject to obtaining all necessary consents ~ Central Mayfair location adjacent to the Royal Embassy of Saudi Arabia he Lodge a 8 7 ARLES STREET 4 to Hotel 8 7 The English Speaking Union 9 CLARGES ME Embassy 9a 8b Posts 9 0 to 4 QUEEN STREET 8 7 ESTERFIEL For identification purposes only. Crewe House Church Outline for indicative purposes only.

3 THE LONDON EYE THE MALL ST. JAMES S PARK ST. JAMES S SQUARE BUCKINGHAM PALACE PICCADILLY REGENT STREET BOND STREET GREEN PARK NEW BOND STREET CURZON STREET BERKELEY SQUARE PARK LANE HANOVER SQUARE OXFORD STREET SOUTH AUDLEY STREET MOUNT STREET MOUNT STREET GARDENS THE DORESTER For indicative purposes only.

4 LOCATION MAYFAIR IS HOME TO THE MOST EXCLUSIVE REAL ESTATE IN LONDON AND IS STEEPED IN HISTORY AND HERITAGE. THE AREA IS CEMENTED AS THE PLACE TO LIVE, WORK AND PLAY FOR THE WORLD S WEALTHIEST AND MOST HIGH PROFILE INDIVIDUALS AND ACCORDINGLY REPRESENTS LONDON S MOST SOUGHT AFTER RESIDENTIAL ADDRESS. The location is synonymous with London s finest restaurants, bars, hotels and private members clubs. Exclusive restaurants situated nearby include Scott s, Sexy Fish, Nobu, Jamavar, Gymkhana, Bellamy s and The Araki. The area contains some of the world s most famous hotels The Ritz, Claridges, The Dorchester, The Connaught and Hilton Park Lane. There are a wide range of London s private members clubs to choose from including Annabel s, The Art s Club, Morton s, Little House Mayfair, Mark s Club and Hertford Street. The area is further famed for its world renowned retailing with nearby Bond Street and Oxford Street hosting an abundance of luxury brands including Cartier, Burberry, Ralph Lauren, Hermes, Chanel, Louis Vuitton, Prada and Tiffany & Co. Mount Street has emerged over the past decade as a niche luxury retailing destination in its own right, home to designers such as Celine, Moynat, Simone Rocha, Marni, Lanvin, Goyard Marc Jacobs, Nicky Clarke and Carolina Herrara. The extensive open spaces of Hyde Park, Green Park and Royal Parks surround the area and provide added appeal and amenity for its residents. The property is situated on the southern side of Charles Street, close to its junction with Chesterfield Hill and Queen Street and adjacent to the Royal Embassy of Saudi Arabia. CONNECTIVITY The property benefits from excellent connectivity being within easy walking distance of both Bond Street (Central and Jubilee lines) and Green Park (Jubilee, Piccadilly and Victoria lines) London Underground stations. Connectivity will be further improved upon the imminent arrival of the Elizabeth Line (Crossrail), providing a new high frequency, high capacity railway servicing 40 stations improving the east/west link for London and the South East. Following the arrival of the Elizabeth line, journey times from Bond Street to Liverpool Street and Heathrow will take just 7 minutes and 7 minutes respectively.

5 THE SERPENTINE HYDE PARK MARBLE AR SOUTH CARRIAGE DRIVE OXFORD STREET 4 PARK STREET PARK LANE 7 WEST END GROSVENOR SOUTH AUDLEY STREET SOUTH STREET PARK LANE SQUARE MOUNT STREET MOUNT STREET GARDENS HYDE PARK CORNER BOND STREET FARM STREET DAVIES STREET CURZON STREET GROSVENOR ST SQUARE ARLES STREET BERKELEY GREEN PARK CONSTITUTION HILL HANOVER NEW BOND STREET BRUTON STREET STRATTON STREET SQUARE MAYFAIR OXFORD STREET PICCADILLY 0 7 BERKELEY STREET 9 CONDUIT STREET OXFORD CIRCUS OLD BOND STREET 9 7 GREEN PARK SAVILE ROW REGENT STREET PICCADILLY ST JAME S STREET PICCADILLY CIRCUS 8 JERMYN STREET ST JAMES S ST JAME S SQUARE THE MALL PALL MALL ST JAMES S PARK KEY Restaurants. The Greenhouse. Le Gavroche. Hakkasan 4. Nobu. Cecconi s. Sketch 7. Sexy Fish 8. Jamavar 9. Gymkhana 0. Bellamy s. The Araki Hotels. The Mayfair Hotel. Brown s Hotel. The Dorchester 4. The Hilton. The Metropolitan. Four Seasons 7. The Ritz 8. Le Meridien Piccadilly 9. The Westbury 0. Claridge s. Marriott Grosvenor Square. Millennium Hotel. The Connaught 4. Grosvenor House Retail. Fortnum & Mason. Burlington Arcade. Harvey Nichols 4. Harrods. Fenwick. Liberty 7. Selfridges Places of Interest. Buckingham Palace. Royal Academy. St Jame s Palace Member s Clubs KNIGHTSBRIDGE KNIGHTSBRIDGE GROSVENOR PLACE BUCKINGHAM PALACE GARDENS. Annabel s. The Art s Club. Little House Mayfair 4. Morton s. Hertford Street. Mark s Club

6 Demised premises fronting Queen Street. Outline for indicative purposes only. DESCRIPTION Charles Street is a period building arranged over basement, ground and four upper floors. Currently, the property is arranged as five self-contained flats. The second, third and fourth floors extend above the commercial premises at -4 Queen Street. Please refer to the Title documents for further information. The basement, ground, second, third and fourth floors benefit from lift access. We understand that the basement studio flat has been created without obtaining the necessary Local Authority or Freeholder consents. FLAT No. FLOOR DESCRIPTION GIA SQ FT GIA SQ M GF & FF F F 4 4F Basement Studio - under construction 00.7 bedrooms, kitchen, reception room, bathroom, shower room, balcony bedrooms, kitchen, reception room, bathroom, shower rooms bedrooms, kitchen, reception room, bathroom, shower room bedrooms, kitchen, reception room, bathroom, shower room,004 9.,8 44.7, ,40 4. Total,0 8. The quoted individual Net Saleable Floor Areas of each flat have been obtained from a recent valuation report prepared by Savills (UK) Limited. Purchasers should satisfy themselves as to the accuracy of these measurements. February 09. CONDITION We understand that the flats have been undergoing reconfiguration / refurbishment but these works have not been completed. A selection of recent internal photographs illustrating the general condition of the flats can be found within the auction legal pack. TENURE The property is held by way of a leasehold interest expiring on June 00 thus having approximately years unexpired. The current ground rent payable is,000 pa. The ground rent payable will increase to,000 pa on 4 June 0. It is believed that the seller was assigned the benefit of notices served on the Freeholder under Section 4 of the Leasehold Reform, Housing and Urban Development Act 99 ( the Act ) in order to secure an additional term of 90 years under five separate underleases; each for an individual flat. The status of those notices is unknown but there may be an opportunity to extend the existing term of the underlease either by private agreement if terms can be agreed with the Freeholder or if qualifying under the Act. Please refer to the Auction legal pack for further information. TENANCIES The property is believed to be occupied by an individual who claims to be a tenant pursuant to an underlease on FRI terms, for a term of years beginning (and including) th January 09 and ending on (and including) rd January 0. The rent is said to be paid annually in arrears and is 99,000 p.a for the first year, 0,000 for the second year and 00,000 in the third year. The lender did not consent to the grant of the underlease and it will be overreached on completion. The lender is entitled to immediate possession of the property and may commence possession proceedings against the occupier. The purchaser will be entitled to be substituted as the Claimant in the possession proceedings if it wishes. Please see the auction legal pack for further details.

7 FLOOR PLANS BASEMENT GROUND FLOOR FIRST FLOOR SECOND FLOOR Balcony.9m.0m Reception Room 4.8 x 4.0m '4 x ' Reception Room.4 x 4.m ' x ' Communal Hall Master 4.4 x 4.m 4' x '.7 x 4.0m 7'7 x '4 Reception Room 8. x 7.90m 8' x '.0m Kitchen Flat Flat Flat Kitchen.90 x.m 9' x 7' Shaft.0 x.40m '7 x ' Basement Flat. x.8m 0'0 x 0'.09 x 4.47m '8 x 4'8 THIRD FLOOR FOURTH FLOOR FIFTH FLOOR Approximate Gross Internal Area (including common parts) 4.70 sq m /,98 sq ft.7m Reception Room 8. x 7.77m 8' x ' Flat Kitchen.0 x.77m ' x 9'.7m Reception Room 8. x 7.79m 7' x '7 Flat 4 Kitchen 4.88 x.7m '0 x 8' Plant Room Rooftop WC and Plant 8.8 sq m / 9 sq ft (Including ) Total areas shown on plan. sq m / 7,0 sq ft.7 x.8m ' x 0' Master.0 x 4.90m '7 x '.77 x.9m '4 x 0'4 4.9 x 4.9m ' x ' Communal Terrace 0.0 x 7.7m 4' x 4' These plans are not to scale and are guidance and cannot be relied upon. All measurements and areas are approximate only, and have been prepared in accordance with the current edition of the RICS Code of Measuring Practice by Fulham Performance. For identification purposes only.

8 TO BE OFFERED BY AUCTION ON THURSDAY 8TH MAR 09 (UNLESS SOLD PRIOR) ON THE INSTRUCTION OF V LIDDELL MRICS & A KISBY MRICS OF ALLSOP LLP AS JOINT FIXED ARGE RECEIVERS EPCs Individual EPC s for Flats -4 are available within the auction legal pack. EPC ratings: x C; x D. VAT The property is not elected for VAT. WARRANTIES The property is being sold on behalf of the Receivers and is sold without Warranty or Guarantee. The property is being sold as seen. PLANNING London Planning Authority Westminster City Council Website: AUCTION LEGAL PACK The following documents are available at will be available to download as part of the auction legal pack: Title documents Floorplans EPCs Copy Lease Sample internal photographs ASSET MANAGEMENT OPPORTUNITIES Complete the ongoing building works Potential to change the use and configuration of the property into a single residence, subject to obtaining all necessary consents Potential to operate the building as serviced apartments, subject to obtaining all necessary consents Carry out lease extension VIEWING INFORMATION If possible we will be undertaking vewings during the course of marketing. If you wish to internally inspect the property please register your interest with our office and we will notify you of an inspection time if this is possible. PROPOSAL Offers in excess of,000,000 are invited for the leasehold interest, subject to the existing lease and subject to contract. NB. The property is to be offered by Auction on Thursday 8 March 09 (unless sold prior) at The Intercontinental Hotel, Park Lane, London, W. CONTACTS RESIDENTIAL INVESTMENT TEAM RESIDENTIAL AUCTION TEAM OWEN REES owen.rees@allsop.co.uk ADAM KERVEN adam.kerven@allsop.co.uk ANTHONY DIXON anthony.dixon@allsop.co.uk ZOE BAXTER zoe.baxter@allsop.co.uk allsop.co.uk Misrepresentation Act:. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant.. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD 0.9