Greek Street Soho London W1 Freehold Investment For Sale
Greek Street Soho London W1 Investment Summary Freehold Situated on one of Soho s prime streets leading to Soho Square Attractive Grade II listed period building Office and retail accommodation totalling 2,67 sq ft, arranged across ground, lower ground and three upper floors Retail accommodation let to Barrell Industries Limited t/a Milroys, for a term expiring on 2rd June 2019 and the office element is offered with the benefit of vacant possession Retail passing rent of 2,750 per annum, equating to a low Zone A rate of 71.5 Opportunity to convert the upper parts to residential flats, subject to planning consents Offers for the freehold interest are invited in excess of,000,000 subject to contract and exclusive of VAT. A purchase at this level reflects a low capital value of 1,122 per sq ft
Location Greek Street is situated at the northern end of the road and is in the last cluster of buildings before Greek Street meets Soho Square, one of Soho s most attractive and vibrant public spaces. Greek Street is one of the most historic streets in Soho, which was built in the 17th century. Greek Street is a major thoroughfare running from Soho Square and Oxford Street to Shaftesbury Avenue. Soho is one of the West End s most dynamic submarkets. Bounded by Covent Garden to the east and Mayfair to the west, it houses a diverse range of corporate occupiers as well as shops, restaurants, cafés, bars and theatres. MINS 7 MINS 9 MINS TOTTENHAM COURT ROAD LEICESTER SQUARE PICCADILLY CIRCUS OXFORD CIRCUS Piccadilly Line Bakerloo Line Central Line Bakerloo Line Northern Line Central Line Elizabeth Line Northern Line Piccadilly Line 11 MINS Communications Greek Street benefits from excellent transport links, including London Underground, National Rail as well as major roads surrounding the immediate area. London Underground services are all accessible via Tottenham Court Road station, (Central and Northern lines), Leicester Square (Northern and Piccadilly lines), Piccadilly Circus (Piccadilly and Bakerloo lines), and Oxford Circus (Bakerloo and Victoria lines). Charing Cross station provides National Rail services and numerous bus routes run down Oxford Street, Shaftesbury Avenue and Charing Cross Road. The arrival of Crossrail at Tottenham Court Road will elevate the connectivity of this location further.
NEW OXF Office Occupiers 1. Google 2. WeWork Soho. Yahoo 4. WeWork Shaftesbury 5. 20th Century Fox 6. Warner Bros 7. Conde Naste 8. Palantir 9. Masthaven Group 10. Moneysupermarket.com 11. Cinesite 12. Campus Society 1. MeWe60 14. Wild Graze Films 15. Wanda Productions Retailers, Restaurants, Hotels & Gyms 16. Foyles 17. Soho House 18. Dean Street Townhouse 19. Flat Iron 20. The Ivy 21. Ronnie Scott s Jazz Club 22. The Groucho Club 2. Another Space 24. Burger & Lobster 25. Chotto Matte 26. 100 Wardour Street 27. Barafina 28. Quo Vadis 29. L Entrecote 0. Polpetto 1. Soho Hotel 2. 68 & Boston. L Escargot 4. Century Club 5. La Bodega Negra 6. Montague Pike Theatres D STREET 11 12 10 2 9 SOHO 26 WARDOUR STREET 1 0 6 9 28 DEAN STREET 27 17 NEW OXFORD STREET SOHO SQUARE 5 18 1 FRITH STREET 24 8 22 21 DEAN STREET 25 29 Greek Street W1 2 GREEK STREET 14 FRITH STREET 15 7 TOTTENHAM COURT ROAD STATION CHARING CROSS ROAD GREEK STREET 7 16 SHAFTESBURY AVENUE 40 DENMARK STREET CHARING CROSS ROAD 6 5 19 8 4 2 SHAFTESBURY AVENUE EARLHAM STREET 20 1 HIGH HO MERCER STREET MERCER STREET 42 MONMOUTH STREET MONMOUTH STREET EARLHAM ST C G 7. Curzon Soho 8. Palace Theatre 9. Soho Theatre 40. Phoenix Theatre 41. Cambridge Theatre 4 CHARING CRO S ROAD LEICESTER SQUARE STATION
The energetic streets of Soho are more than just another part of London. Its a village with an identity, it s like it has a heartbeat Floor Plans Ground Floor REAR FLAT ROOF N0.4 NO. 2 SHOP Description PAVEMENT Greek Street is a Grade II listed building, constructed in 1744, and consists of five storeys arranged over ground, lower ground and three upper floors. The ground floor provides retail accommodation, and in the lower ground lies the vault, one of Soho s most talked about secret whisky bars, which is accessed via a false bookcase and benefits from a valuable late night alcohol licence. The first and second floors comprise office accommodation and the third floor is a residential unit, historically let with the office accommodation. The property comprises a town house style, terraced building with brick elevations, timber sash windows and a flat roof. GREEK STREET Third Floor NO. 2 N0.4 GREEK STREET
Tenancy The retail accommodation is let to Barrell Industries Limited, trading as Milroys for a term expiring on 2rd June 2019 and the office element is offered with the benefit of vacant possession. Floor Tenant Use Area (NIA) sq ft Residential* 76 2 Vacant 402 Office 1 42 Ground Barrell Industries Ltd 54 Retail** Lower Ground t/a Milroys 920 * Net Saleable Area ** ITZA of 1,462 sq ft Rent (p.a.) Total 2,67 2,750 Rent (Zone A) Lease Start Lease End - - - - 2,750 71.5 24/06/2004 2/06/2019 Soho Investment Market Comparables Date Address Area (sq ft) Price NIY psf Q 2018 8-12 Broadwick Street, W1 8,807 14,250,000.22% 1,618 Q2 2018 6 Poland Street, W1 5,46 8,550,000.26% 1,565 Q1 2018 9 Dean Street, W1 2,674 4,950,000 2.99% 1,851 Q4 2017 9 Poland Street, W1 6,95 14,000,000.16% 2,014 Q4 2017 25-26 Poland Street, W1 9,494 1,000,000.6% 1,69 Q 2017 4 D Arblay Street, W1 1,605 2,50,000 2.94% 1,576 Q1 2017 20 Greek Street, W1 2,077 2,960,000.50% 1,425
e o in B Tenure The property is held freehold under title number 256991. The approximate extent of the freehold ownership is shown in the title plan. Goslett Ya Planning 25 26 Greek Street is located within the planning jurisdiction of Westminster. The building is Grade II listed and is situated in the Soho Conservation Area. Retail Th Sa H t u se a rn O ab VAT f a s 2 The property is elected for VAT. It is anticipated that the transaction will be treated as a transfer of going concern (TOGC). 27 2a a 4 1 Saint Barnabas Artists House Manette S EPC Greek Street 6 Bat e m a L oco moti on 59 7 Retail n's Buildings 8 58 9 9a Frith 57 56 10 10a 11 Retail Proposal Offers for the freehold interest are invited in excess of,000,000 subject to contract and exclusive of VAT. A purchase at this level reflects a low capital value of 1,122 per sq ft. Jonathan Martyr T: 0207 747 012 M: 07787 5 996 E: jonathan.martyr@levyllp.co.uk Adam Lewis T: 0207 747 0124 M: 07854 767 197 E: adam.lewis@levyllp.co.uk MISREPRESENTATION ACT 1967 - Levy Real Estate LLP for themselves and for the Vendors or lessors of this property whose agents they are given notice that: All description, dimensions, reference to condition and necessary permissions for use and occupation and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. Any services mentioned have not been tested and therefore prospective occupiers should satisfy themselves as to their operation. These particulars are produced in good faith and set out a general guide only and do not constitute part of any offer or contract. No person in the employment of Levy Real Estate LLP has any authority to make or give representation or warranty in relation to this property. All prices and rents are quoted exclusive of VAT unless otherwise stated. November 2018.