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Nassau Street, FITZROVIA

POA
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Nassau Street, FITZROVIA

Description

Rare Opportunity to acquire an unbroken freehold residential block of flats in the heart of London's West End.

  • A mix of 11 self-contained flats let on Assured Shorthold Tenancies (ASTs)
  • Planning consent for 2 further penthouse flats
  • Opportunity to reconfigure and/or refurbish to maximise potential
  • GIA 735 sqm (7,910 sqft) (approx) with proposed consented fourth floor GIA of 140 sqm (1,507 sqft).  Four vacant pavement vaults approximately 18.5 sqm (199 sqft) overall (not inspected).
  • Prominently situated in Nassau Street, opposite the landmark Fitzroy Place development.
  • Freehold
  • Offers are sought in excess of £9,000,000

Location:
The property is located in the heart of Fitzrovia within the City of Westminster.  Nassau Street is surrounded by the West End's adjoining neighbourhoods of Soho, Bloomsbury, Mayfair and Marylebone.  Fitzrovia is known for its rich history and once thriving rag trade.  It now comprises a unique blend of residential and  commercial uses with many media companies and galleries revisiting the area.

The property is lcoated on the western side of Nassau Street to the north of Mortimer Street and home to a mix of offices and residential apartments.  It is adjacent to the newly developed Fitzroy Place - the newest square in London for over a century featuring a mix of luxury new homes, offices and retail uses.  Rathbone Square, which is also a new mixed use development comprising over 200,000 sqft of offices and 142 flats, is close by which has become Facebook's London H.Q. and a major loft style development in Foley Street is in progress.

The property comes within the Central Activities Zone (CAZ) and the East Marylebone Consesrvation Area.  The property is well served by transport links with numerous bus links  nearby and Oxford Circus and Goodge Street Underground Stations within a short walking distance.  The new Elizabeth Line (Crossrail) is schedule to open in 2018 at Tottenham Court Road.

Local occupiers include Estee Lauder, Facebook, Sony, BBC and Arup.  Hotels include Sanderson London, The London Edition and The Charlotte Street Hotel with numerous niche restaurants in teh well-established Fitzrovia locality.  Fitzrovia has become one of London's most fashionable destinations with an abundance of amenities.

Description:
This is a double fronted terraced building which we believe was originally constructed as a pair of Victorian houses.  The building is planned over four floors with a lower ground floor and is capable of being converted back into a single dwelling (stp).  The main walls are of traditional solid London Stock brickwork with red brick arches with pitched and slate covered roofs.  It currently comprises 11 self-contained flats with planning consent for two more flats at roof level.

Planning:
Planning consent was granted on 7 October 2016 by Westminster City Council under Application Number: 16/07864/FULL for "The erection of a mansard roof extension in connection with the provision of 2 x residential units (Class C3) site includes number 18 Nassau Street".

The property lies within the East Marylebone Conservation Area

Flat - 17a Nassau Street
Lower Ground & Ground Floors - 3/4 Bedrooms
125 sqm / 1,345 sqft

Flat - 17b Nassau Street
Lower Ground & Ground Floors - 3/4 Bedrooms
115 sqm / 1,238 sqft

Flat 1 - 18 Nassau Street
First Floor - Studio
27 sqm / 291 sqft

Flat 2 - 18 Nassau Street
First Floor - Studio/1 Bed
26 sqm / 280 sqft

Flat 3 - 18 Nassau Street
First Floor - 2 Bed
70 sqm / 753 sqft

Flat 4 - 18 Nassau Street
Second Floor - Studio/1 Bed
29 sqm / 312 sqft

Flat 5 - 18 Nassau Street
Second Floor - 2 Bed
70 sqm / 753 sqft

Flat 6 - 18 Nassau Street
Second Floor - Studio
27 sqm / 291 sqft

Flat 7 - 18 Nassau Street
Third Floor - 1 Bed
27 sqm / 291 sqft

Flat 8 - 18 Nassau Street
Third Floor - 2 Bed
72 sqm / 775 sqft

Flat 9 - 18 Nassau Street
Third Floor - 1 Bed
29 sqm / 312 sq ft

Existing Building Floor Areas (GIA)
Lower Ground Floor - 147 sqm / 1,582 sqft
Ground Floor - 147 sqm / 1,582 sqft
First Floor - 147 sqm / 1,582 sqft
Second Floor - 147 sqm / 1,582 sqft
Third Floor - 147 sqm / 1,582 sqft
Total Existing Floor Areas - 735 sqm / 7,910 sqft

Proposed (GIA)
Penthouse 1 (Fourth Floor) - 63 sqm / 678 sqft
Penthouse 2 (Fourth Floor) - 62 sqm / 667 sqft
Total Flat GIA - 125 sqm / 1,345 sqft
Proposed Fourth Floor GIA - 140 sqm / 1,507 sqft

Tenancy Schedule:

Flat A (17)
Tenancy Start Date - 27 June 2016
Tenancy End Date - 26 June 2018
Annual Rent - £51,740

Flat B (17)
Tenancy Start Date - 11 September 2016
Tenancy End Date - 10 September 2018
Annual Rent - £50,700

Flat 1 (18)
Tenancy Start Date - 1 September 2014
Tenancy End Date - 31 August 2017 (holding over)
Annual Rent - £15,600

Flat 2 (18)
Tenancy Start Date - 15 August 2014
Tenancy End Date - 14 August 2018
Annual Rent - £15,240

Flat 3 (18)
Tenancy Start Date - 1 November 2017
Tenancy End Date - 30 April 2018
Annual Rent - £24,000

Flat 4 (18)
Tenancy Start Date - 1 November 2017
Tenancy End Date - 30 April 2018
Annual Rent - £15,600

Flat 5 (18)
Tenancy Start Date - 7 November 2017
Tenancy End Date - 6 May 2018
Annual Rent - £24,000

Flat 6 (18)
Tenancy Start Date - 15 September 2017
Tenancy End Date - 14 September 2016
Annual Rent - £16,640

Flat 7 (18)
Tenancy Start Date - 15 November 2017
Tenancy End Date - 14 May 2018
Annual Rent - £15,000

Flat 8 (18)
Tenancy Start Date - 30 October 2017
Tenancy End Date - 29 April 2018
Annual Rent - £27,600

Flat 9 (18)
Tenancy Start Date - 11 August 2017
Tenancy End Date - 10 August 2018
Annual Rent - £15,080

Total Gross Rental Income - £271,200 pa

Inform Tender Terms:
Offers are to be received at the offices of Davis Brown by
12noon on Tuesday 12th December 2017

Disclaimer:
Davis Brown for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchasers, or lessees, and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but 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; (iii) no person in the employment of Davis Brown or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property; (iv) all rentals and prices quoted are exclusive of VAT (if chargeable)

SUBJECT TO CONTRACT

 


 

 

Map Street View

Rare Opportunity to acquire an unbroken freehold residential block of flats in the heart of London's West End.

  • A mix of 11 self-contained flats let on Assured Shorthold Tenancies (ASTs)
  • Planning consent for 2 further penthouse flats
  • Opportunity to reconfigure and/or refurbish to maximise potential
  • GIA 735 sqm (7,910 sqft) (approx) with proposed consented fourth floor GIA of 140 sqm (1,507 sqft).  Four vacant pavement vaults approximately 18.5 sqm (199 sqft) overall (not inspected).
  • Prominently situated in Nassau Street, opposite the landmark Fitzroy Place development.
  • Freehold
  • Offers are sought in excess of £9,000,000

Location:
The property is located in the heart of Fitzrovia within the City of Westminster.  Nassau Street is surrounded by the West End's adjoining neighbourhoods of Soho, Bloomsbury, Mayfair and Marylebone.  Fitzrovia is known for its rich history and once thriving rag trade.  It now comprises a unique blend of residential and  commercial uses with many media companies and galleries revisiting the area.

The property is lcoated on the western side of Nassau Street to the north of Mortimer Street and home to a mix of offices and residential apartments.  It is adjacent to the newly developed Fitzroy Place - the newest square in London for over a century featuring a mix of luxury new homes, offices and retail uses.  Rathbone Square, which is also a new mixed use development comprising over 200,000 sqft of offices and 142 flats, is close by which has become Facebook's London H.Q. and a major loft style development in Foley Street is in progress.

The property comes within the Central Activities Zone (CAZ) and the East Marylebone Consesrvation Area.  The property is well served by transport links with numerous bus links  nearby and Oxford Circus and Goodge Street Underground Stations within a short walking distance.  The new Elizabeth Line (Crossrail) is schedule to open in 2018 at Tottenham Court Road.

Local occupiers include Estee Lauder, Facebook, Sony, BBC and Arup.  Hotels include Sanderson London, The London Edition and The Charlotte Street Hotel with numerous niche restaurants in teh well-established Fitzrovia locality.  Fitzrovia has become one of London's most fashionable destinations with an abundance of amenities.

Description:
This is a double fronted terraced building which we believe was originally constructed as a pair of Victorian houses.  The building is planned over four floors with a lower ground floor and is capable of being converted back into a single dwelling (stp).  The main walls are of traditional solid London Stock brickwork with red brick arches with pitched and slate covered roofs.  It currently comprises 11 self-contained flats with planning consent for two more flats at roof level.

Planning:
Planning consent was granted on 7 October 2016 by Westminster City Council under Application Number: 16/07864/FULL for "The erection of a mansard roof extension in connection with the provision of 2 x residential units (Class C3) site includes number 18 Nassau Street".

The property lies within the East Marylebone Conservation Area

Flat - 17a Nassau Street
Lower Ground & Ground Floors - 3/4 Bedrooms
125 sqm / 1,345 sqft

Flat - 17b Nassau Street
Lower Ground & Ground Floors - 3/4 Bedrooms
115 sqm / 1,238 sqft

Flat 1 - 18 Nassau Street
First Floor - Studio
27 sqm / 291 sqft

Flat 2 - 18 Nassau Street
First Floor - Studio/1 Bed
26 sqm / 280 sqft

Flat 3 - 18 Nassau Street
First Floor - 2 Bed
70 sqm / 753 sqft

Flat 4 - 18 Nassau Street
Second Floor - Studio/1 Bed
29 sqm / 312 sqft

Flat 5 - 18 Nassau Street
Second Floor - 2 Bed
70 sqm / 753 sqft

Flat 6 - 18 Nassau Street
Second Floor - Studio
27 sqm / 291 sqft

Flat 7 - 18 Nassau Street
Third Floor - 1 Bed
27 sqm / 291 sqft

Flat 8 - 18 Nassau Street
Third Floor - 2 Bed
72 sqm / 775 sqft

Flat 9 - 18 Nassau Street
Third Floor - 1 Bed
29 sqm / 312 sq ft

Existing Building Floor Areas (GIA)
Lower Ground Floor - 147 sqm / 1,582 sqft
Ground Floor - 147 sqm / 1,582 sqft
First Floor - 147 sqm / 1,582 sqft
Second Floor - 147 sqm / 1,582 sqft
Third Floor - 147 sqm / 1,582 sqft
Total Existing Floor Areas - 735 sqm / 7,910 sqft

Proposed (GIA)
Penthouse 1 (Fourth Floor) - 63 sqm / 678 sqft
Penthouse 2 (Fourth Floor) - 62 sqm / 667 sqft
Total Flat GIA - 125 sqm / 1,345 sqft
Proposed Fourth Floor GIA - 140 sqm / 1,507 sqft

Tenancy Schedule:

Flat A (17)
Tenancy Start Date - 27 June 2016
Tenancy End Date - 26 June 2018
Annual Rent - £51,740

Flat B (17)
Tenancy Start Date - 11 September 2016
Tenancy End Date - 10 September 2018
Annual Rent - £50,700

Flat 1 (18)
Tenancy Start Date - 1 September 2014
Tenancy End Date - 31 August 2017 (holding over)
Annual Rent - £15,600

Flat 2 (18)
Tenancy Start Date - 15 August 2014
Tenancy End Date - 14 August 2018
Annual Rent - £15,240

Flat 3 (18)
Tenancy Start Date - 1 November 2017
Tenancy End Date - 30 April 2018
Annual Rent - £24,000

Flat 4 (18)
Tenancy Start Date - 1 November 2017
Tenancy End Date - 30 April 2018
Annual Rent - £15,600

Flat 5 (18)
Tenancy Start Date - 7 November 2017
Tenancy End Date - 6 May 2018
Annual Rent - £24,000

Flat 6 (18)
Tenancy Start Date - 15 September 2017
Tenancy End Date - 14 September 2016
Annual Rent - £16,640

Flat 7 (18)
Tenancy Start Date - 15 November 2017
Tenancy End Date - 14 May 2018
Annual Rent - £15,000

Flat 8 (18)
Tenancy Start Date - 30 October 2017
Tenancy End Date - 29 April 2018
Annual Rent - £27,600

Flat 9 (18)
Tenancy Start Date - 11 August 2017
Tenancy End Date - 10 August 2018
Annual Rent - £15,080

Total Gross Rental Income - £271,200 pa

Inform Tender Terms:
Offers are to be received at the offices of Davis Brown by
12noon on Tuesday 12th December 2017

Disclaimer:
Davis Brown for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchasers, or lessees, and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but 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; (iii) no person in the employment of Davis Brown or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property; (iv) all rentals and prices quoted are exclusive of VAT (if chargeable)

SUBJECT TO CONTRACT

 


 

 

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