Investment

• Multi let Mayfair virtual freehold retail and office investment.
• Total net internal area of 11,152 sq ft (1,036 sq m) which comprises 7,384 sq ft (686 sq m) of office space and 3,768 sq ft of retail and ancillary space.
• Efficient open plan well-configured office floors of circa 1,500 sq ft.
• Vacant refurbished suite on the first floor.
• Let to four office tenants and one retail tenant. Total current income including vendor guarantees on the vacant floor is £529,240 per annum. Relatively low average passing rents on leased offices of £37.81 per sq ft, which are reversionary. Retail tenant, The East India Fine Foods Company, currently completing a high quality fit-out including new shop-front.
• Long term potential to extend the building to the rear over ground floor extension.
• Short term lease expiries and current voids allowing active asset management opportunities and increasing the ability to take advantage of West End rental growth.
• Excellent location, connecting the prime stretches of Regent Street and Bond Street.

We are instructed to invite offers in excess of £10,500,000, subject to contract and exclusive of VAT for our client's virtual freehold interest, reflecting a net initial yield of 4.75% after deduction of usual purchaser's costs of 5.7625% and assuming vendor guarantee on the first floor.

Downloads:
Fire risk assessment common parts | Lease 3rd Floor | Lease 4th Floor | Lease 5th Floor
Lease Ground and Bottom Floor | Services charge budget year ending March 2010
Services charge budget year ending March 2011
Services charge reconciliation year ending March 2010
Services charge reconciliation year ending March 2010 

• London's largest casino totaling 77,500sqft on an island site of 0.684 acres.
• Let to Grosvenor Casinos Limited (5A1) for 20 years from 10th August 2006, with 5 yearly reviews linked to RPI (capped at 3%).
• Passing rent £2,700,000 reflecting £38.85sqft (topped up to 2011 review).
• The property benefits from planning permission to build an additional floor on the casino.
• To the rear of the casino is a large residential tower block, which is also included in the sale. This consists of 48 flats all sold off on a long lease with 98 years unexpired.
• Quoting £54,000,000 which reflects an initial yield of 4.75% assuming purchaser's costs of 5.725%, subject to contract.

• Prime Fitzrovia Freehold.
• Attractive, multi let, office and showroom building totalling 7,791 sq ft (724 sqm) net internal area over lower ground, ground and 1st to 3rd floors.
• Substantial redevelopment potential with opportunity to increase floor area.
• Potential for part owner occupation of ground and lower ground floors.
• Suitable for part conversion to residential STP, including potential to create a mews house at 5 Berners Mews. Neighbouring property recently granted approval for part conversion to residential on 1st to 5th floors.
• Expired planning permission to add two extra floors of office on Newman Street plus infill space at rear first floor.
• Property runs from Newman Street through to Berners Mews at the rear.
• Average passing rent only £28.50 sq ft.
• Architects drawings available, showing existing floor plans and cross section together with plans and cross section for a potential redevelopment scheme. For a copy of these drawings please contact the joint agents.
• Offers in excess of £4,500,000 reflecting £579 sq ft on existing net floor area and a 5% net initial yield after standard purchaser's costs of 5.75%.

• Prime Mayfair Freehold.
• Attractive comfort cooled office and gallery building totaling 6,274 sq ft (583 sq m) Net Internal Area.
• Multi-let to 4 tenants with an average passing rent of £33.23 per sq ft and a total current income of £144,190.
• The third and fourth floors, totaling 1,935 sq ft (179.8 sq m) are currently vacant and have been recently refurbished to include comfort cooling, entry phones and new intruder alarm systems.
• Suitable for owner-occupiers and investors.
• Potential for part conversion to residential subject to planning.
• Reversionary rents. Opportunity to increase rental income substantially.
• Potential to add a further floor subject to planning and other necessary approvals.
• We are instructed to seek offers in excess of £5,490,000, which equates to £875 per sq ft capital value.

• Freehold Public House and residential property totalling 3,706 sq ft (344 sq m).
• Let as a Public House at ground and lower ground floors with approximately 90 years remaining on the lease at a rent of £31,500 per annum.
• The Upper parts are used as Residential, and have recently been refurbished to a high standard. They are let on a 2 year lease at £3,800 per month.
• Located opposite King's Cross and St Pancras International Train Stations, with links to the Midlands and the North of the UK as well as providing International services to locations such as Paris, Brussels, Lille and Bruges.
• We are instructed to seek offers of £1,200,000 (One million two hundred thousand pounds), subject to contract, for our client's freehold interest. This equates to only £324 per sq ft and reflects an initial yield of 6.1% after full purchasers costs of 5.725%

17,551 sq ft industrial/warehouse unit situated on a 0.35 acre site. For sale with full vacant possession and the benefit of a planning consent for approximately 80,000 sq ft office scheme. Directly opposite the Gillette A4 Corner site, recently sold for mixed use development including commercial, hotel and residential use.

Of interest to owner occupiers and developers.

We are instructed to seek offers for the Freehold interest.

• Prime multi let Mayfair office and gallery retail property.Total net internal area of 16,257 sq ft (1,510.3 sq m), comprising 13,388 sq ft (1,243.7 sq m) of offices together with 2,869 sq ft (266.5) sq m of retail accommodation.
• Virtual Freehold (2000 year lease from 1913 at £54.56 pa fixed).
• Multi let to 8 tenants offering a broad tenant mix. Reversionary passing rent of £661,700 per annum gross reflecting only £38.60 per sq ft on the office element, and £130 Zone A on the retail.
• Development and asset management opportunities including rear extension and potential medium term conversion to residential (subject to necessary consents).
• Of potential interest to part owner occupiers. Second floor (2,124 sq ft) vacant in July 2010. Seventh floor (530 sq ft) currently vacant.

We are instructed to seek offers in excess of £12,500,000 for our client's virtual freehold interest, reflecting a net initial yield of 5%, after usual purchaser's costs of 5.76%, and a capital value of only £769 per sq ft. 

• Prime Mayfair location off the north-west corner of Hanover Square, widely regarded as one of London's most exclusive and prestigious areas.
• Freehold
• Secure income - 25 year lease from March 2008 with tenant only break option at the end of year 15.
• A modern attractive open plan office building arranged over basement, ground and five upper floors at a total of 17,740 sq ft (1,648 sq m) incl parking.
• Comprehensively refurbished in 2007.
• Directly opposite the new proposed Bond Street Eastern Crossrail station.
• Passing rent of £1,319,120, pa exclusive.

We are instructed to seek offers in the region of £24,935,000 subject to contract and exclusive of VAT for the Jersey-based SPV. This reflects a net initial yield of 5.2% (1.725% costs).

SOLD APRIL 2010

• Prime LEASEHOLD office building, within The Portman Estate.
• Well-located, between Manchester and Portman Squares close to the junction with Manchester Square.
• Attractive period property with a total net internal area of 4,661 sq ft (433 q m).
• Estimated Gross internal area of 6,429 sq ft (597 sq m). Separate terrace to the rear.
• For sale with Full Vacant Possession.
• Long Leasehold from The Portman Estate, expiring December 2078 (68.5 yrs unexpired).
• Potential to extend, and add lift, subject to necessary consents.
• Not elected for VAT.

Offers are sought in the region of £3,000,000 (Three Million Pounds), subject to contract.

SOLD MARCH 2010

• Freehold
• 40,201sqft (3,734.7sqm) of mixed used commercial property, including offices, retail, nightclub and restaurant.
• Total current income of £1,840,641 per annum, with over 50% of the income being until 2019.
• Extensive frontage to two of Mayfair's most prestigious streets, Dover and Berkeley Street.
• Substantial site offering significant future development opportunities.
• Potential for part change of use to residential subject to planning.
• Potential for part owner occupation.
• Active asset management opportunities including lease renewals and rent reviews.
• Low capital value of only £802 per sq ft
• Offers invited in excess of £32,270,000 reflecting 5.4% Net Initial Yield after standard purchaser's costs of 5.7625%.

If you would like further information including copies of the leases you can visit our website: www.colliersdocuments.co.uk/doverandberkeley

If you would like to arrange an inspection or discuss this opportunity further please contact either myself on 0207 344 6604 or my colleague Nick Pemberton 0207 487 1617.

SOLD MARCH 2010