No. 6 DUKE On behalf of NJ Pask and RS Morgan, Joint LPA Receivers of Cabana Co SA STREET W1 CITY OF WESTMINSTER
Summary Grade II listed Regency property in prime W1 Arranged over basement, ground and 3 uppers Ground floor A1 accommodation with remaining B1 Total of 3,892 sqft GIA (2,845 sqft NIA) Gross income of 88,840 pa (with no tenancy deposits) Within 500 yards of Bond Street Station Long Leasehold interest of 125 years from May 2001 Within 25 yards of Manchester Square, 100 yards of Oxford Street and 150 yards of Marylebone High Street
Location The property is situated on Duke Street within the Portman Estate Conservation area, between Wigmore Street and Manchester Square. Bond Street Underground Station (Central Line) is within 500 yards south of the property. Duke Street runs north from Grosvenor Square to Manchester Square, cutting through Oxford Street and Wigmore Street, at the very heart of the West End of London. Oxford Street and Selfridges, with some of London s best retail offerings, is within 100 yards south of the property. Marylebone High Street is situated approximately 400 yards to the north east of the building providing a wide selection of boutique and independent shops, restaurants and hotels.
No.6 Duke Street, Marylebone High Street Home SUMMARY LOCATION Portman Square Aerial Description schedule No. 6 DUKE STREET W1 CITY OF WESTMINSTER Gallery Proposal CONTACT US Oxford Street Manchester Square Selfridges Bond Street Tube Grosvenor Square previous Next
Description The property consists of a Grade II listed brick building arranged over basement, ground and three upper floors. The building is divided into offices on basement, first, second and third floors and retail on the ground floor. The property is fully let save for the first floor office which is currently vacant. The property is being sold as a leasehold investment. The lease is for 125 years from 24th May 2001 leaving a term of 112 years and three months remaining. The freehold interest of the property is held by the Portman Estate with a current ground rent of 2,000 + VAT per quarter payable to them. The licence contains an absolute prohibition on use of the premises for residential purposes.
Schedule The property totals 3,892 sqft GIA (2,845 sqft NIA) with the larger floorspace being in the basement and ground floors. Total income is currently 88,840 per annum (gross). Please note even though the tenants licences state tenant deposits have been paid, the vendor does not hold tenancy deposits and they are not available within the sale. GIA Floor Use Sq m Sq ft Sq m Sq ft Tenant NIA Rent (per quarter) Rent (PA) Term Breakclause Basement B1 115.10 1,239 62.24 670 Wigmore Health and 10 years from Service charge of 1,020 17,250 69,000 Ground A1 70.98 764 61.22 659 Beauty 05/12/12 per quarter First B1 70.05 754 57.97 624 Vacant - - N/A N/A Second B1 52.49 565 39.76 428 Sungmin Enterprises 6,250 - - Vacating 31/03/14 Third B1 52.95 570 43.11 464 Global Study UK Ltd 4,950 19,840 TOTALS 361.57 3,892 264.30 2,845 88,840 Licence to Occupy Anytime with either party giving 3 months notice
Gallery - Basement
Gallery - Ground Floor
Gallery - Second Floor
Gallery - Rear
Proposal Unconditional offers are sought. Proposals are to be submitted at the offices of GVA for the attention Jamie Lamond. All offers should be clearly marked 6 Duke Street, Mayfair,. All proposals should include the following: Purchaser, including any relevant background and track record information; Board approvals, details of any outstanding approvals necessary to proceed with the purchase and likely timescales involved; Written confirmation of finance arrangements including details of any further approvals which may be required; Timetable for exchange of contracts and completion; Details of solicitors. The selection procedure will be based upon the level of offer, payment terms, funding, track record and level of due-diligence carried out. All offers are to be accompanied with proof of cash funds in order to be seriously considered. There is no obligation on the vendor s behalf to accept the highest offer made.
Contact US Jamie Lamond GVA T: 0207 911 2123 M: 07903 056 581 E: Jamie.Lamond@gva.co.uk Chris Strong GVA T: 020 7911 2080 M: 07951 283 649 E: Christopher.Strong@gva.co.uk Justin James GVA T: 020 7911 2678 M: 07971 529508 E: Justin.James@gva.co.uk Tim Barton-Knott Land and Investment T: 020 7290 2812 M: 07793 709636 E: tbk@blenheimbishop.co.uk James Winston Land and Investment T: 020 7290 2824 M: 07585 552958 E: jw@blenheimbishop.co.uk Created by Abberville Creative MISREPRESENTATION ACT: Blenheim Bishop for themselves and for the vendors of this property whose agents they are, give notice that The particulars are set out as a general outline only for the guidance of intending purchasers and do not constitute part of an offer or contract. All descriptions, dimensions, references to condition and necessary permissions for use and occupation and their details are given in good faith and are believed to be correct,, but any intending purchasers should not rely on them as statements of representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. Unless otherwise stated, all prices, rents, and other charges are quoted exclusive of VAT. Any intending purchasers or tenants must satisfy themselves independently as to the incidence of VAT in respect of any transaction. All plant, machinery, equipment, services and fixtures referred to in these particulars were present at the date of publication. They have not however been tested and therefore we give absolutely no warranty whatsoever in relation to this property or these particulars nor enter into any contract on behalf of the vendors. No responsibility can be accepted for any expenses incurred by the intending purchasers in inspecting the properties which have been sold or withdrawn