salisbury place

SALISBURY PLACEMarylebone W1H 1FJ

Ideal for Owner Occupiers or Residential Developers

Freehold Vacant Office For Sale

Executive Summary

Freehold office building for sale

Located in the highly sought after Marylebone

Within a few minutes walking distance to Baker Street and Marylebone Underground station

Available with full vacant possession

Lateral office space arranged over ground, first and second floors (no basement)

Floor area 3,842 sq ft (356.9 sq m)

Benefiting from 1 car parking space

Front and rear entrances

Positive pre-app response for extension and conversion of the property to 3 residential units

Potential for alternative uses (STPP)

Property is not elected for VAT

Offers in excess of £4,000,000, subject to contract, for the benefit of the Freehold interest

SALISBURY PLACE | MARYLEBONE W1

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The LocationSalisbury Place is a quiet mews and well-connected location between Gloucester Place and Upper Montagu Street, running parallel and just south of the busy Marylebone Road (A40) in the Baker street area. The property lies directly behind the Old Marylebone Town Hall.

Baker Street and Marylebone Road both have a wide range of amenities including numerous restaurants, bars and retail services. Oxford Street, all the benefits of the West End, as well as London’s Regents Park, Hyde Park and Paddington Canal basin are close by.

Local Occupiers

Lifestyle

01. Selfridges 06. Churchill Hotel

02. Madame Tussauds 07. The Marylebone Hotel

03. The Landmark 08. Third Space Marylebone

04. Home House 09. BXR

05. Nobu Hotel 10. Fitness First

Restaurants/ Cafes

11. AOK 21. Gogi

12. Boxcar Coffee 22. Roka Mayfair

13. Anacapri 23. Daisy Green

14. Kitchen at Holmes 24. Pachamama

15. Chiltern Firehouse 25. Delamina

16. Dinings 26. Brasserie of Light

17. The Monocle Cafe 27. L’Entrecote

18. Il Baretto 28. The Marylebone Kitchen

19. Wulf & Lamb 29. The Potting Shed

20. Carousel

Pubs/Bars

30. The Royal Oak 36. Burlock

31. The Duke of Wellington 37. Oriental Club

32. Thornbury Castle 38. The Trader’s Inn

33. The Larrik 39. Arro Coffee

34. Sir John Balcombe 40. Lord Wargrave

35. The Coachmakers Arms


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SEYMOUR STREET

WIGMORE STREET

WIGMORE STREET

NEW CAVENDISH STREET

UPPER BERKLEY STREET

GEORGE STREET

MARYLEBONE ROAD

MARYLEBONE ROAD

MELCOMBE PLACE

GLOUCESTER PLACE

PARK STREET

MAR

YLEB

ONE

HIG

H S

TRRE

T

PARK LANE

SEYMO

UR PLACE

MO

NTAGU STREET

BAKER STREET

N AUDLEY STREET

HARLEY STREET

WIM

POLE STREET

WIM

POLE STREET

MONTAGU PLACE

DORSET STREET M

ANCHESTER STREET

DUKE STREET

PORTLAND PLACE

REGENT STEET

HARLEY STREET

OXFORD STREET

OXFORD STREET

EDGWARE ROAD

EDGWARE ROAD

NEW BOND STREET

CLEVELAND STEETREGENT STREET

YORK STREET

GILBERT STRRET

HYDE PARK PLACE

ULSTER TERRACE

BAKER STRREET

PARK ROAD

LISSON GROVE

ROSSMORE ROAD

EDGWARE ROAD

WESTWAY

PRAED STREET

SUSSEX GARDENS

OLD

MAR

YLEB

ONE

ROAD

CHRUCH STREET

SALISBURY PL

KEND

AL S

TREE

T

CRAWFORD STREET

PADDINGTON STREET

GLOUCESTER PLACE

BALCOM

BE STREET

OUTER CIRCLE

DEVONSHIRE STREET

CONNAUGHT STREET

STANHOPE TERRACE

BATHURST STREET

SALE PLACE

BROADLEY STREET

BELL STREET

WESTWAY

MARYLEBONE ROAD

PENFOLD STREET

FRAMPTON STREET

WELBECK STREET

UPPER BROOK STREET

BROOKE STREET

HYDE PARK GROSVENORSQUARE

MARBLEARCH

PORTMANSQUARE

REGENT’S PARK PARK

SQUARE

PARKCRESCENT

MANCHESTER SQUARE

GLOUCESTERSQUARE

BOND STREET

MARBLEARCH

BAKERSTREET

PADDINGTON

OXFORDCIRCUS

EDGWAREROAD

MARYLEBONE

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02

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0405

06

0708

09

10

1112 13

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28

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32

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34

35

25

2636

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27

2324

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BOND STREET

18 MINS WALK

BAKER STREET

6 MINS WALK

MARLEYBONE 6 MINS WALK

PADDINGTON 18 MINS WALK

OXFORD CIRCUS 10 MINS

GREEN PARK 9 MINS

Bakerloo Line

Jubilee Line

Central Line

Circle / Hammersmith & City / Metropolitan Lines

National Rail

Victoria Line

Elizabeth Line

ConnectivityThe property benefits from an abundance of travel links that provides immediate access to the City and the rest of London. Underground train stations immediately nearby include Baker Street and Marylebone Stations which are on the TfL Bakerloo, Circle, Hammersmith & City, Jubilee and Metropolitan lines. The Marylebone mainline Chiltern line and Paddington mainline to Heathrow Airport, Oxford & Bristol are also within a few minutes’ walk. The property is also easily accessible by car with the A40 leading west towards the M40 and the A41 leading north onto the M1. The Marylebone Road (A501) also provides direct access to the City and east London and the A41 leading north to the North Circular Road (A406) M1 & M25 Orbital route.

Euston 12 mins

King’s Cross St Pancras 12 mins

Liverpool Street 21 mins

Standsted Airport 1hr 14mins

Bank 24 mins DLR

Charing Cross 14 mins

Waterloo 17 mins

London Bridge 21 mins

Victoria 19 mins

Gatwick Airport 51 mins

Heathrow Airport 26 mins

*Journey time from Bond Street on completion of the Elizabeth Line.

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The Building The property comprises lateral office accommodation and is arranged over ground, first and second floors, with one surface car parking space in the rear courtyard.

PlanningThe property currently benefits from office use. As of 1st September 2020, this use class is now considered to be Class E. There is potential for conversion to residential use as detailed on page 10.

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Amenities

Cycle Rack

Kitchenette on Every Floor

Gas Central Heating

Shared Courtyard

LED Lighting

Plans for Exposed Ceilings & Screed Concrete Flooring

Excellent Natural Light

Largely Open Plan

1-2 Parking Spaces

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AccommodationOffice GIA

Floor Sq Ft Sq M

Ground 1,150 106.8

First 1,591 147.8

Second 1,101 102.3

Total 3,842.1 356.9

Second Floor 1,335 Sq Ft / 124.0 Sq M

First Floor 1,591 Sq Ft / 147.8 Sq MGround Floor 1,150 Sq Ft / 106.8 Sq M

SALISBURY PLACE SALISBURY PLACE

SALISBURY PLACE

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Development & Asset Management PotentialThe property benefits from a number of asset management opportunities including residential conversion and refurbishment of the commercial space. Westminster Council have confirmed that they will support a residential led scheme. A detailed pre app was submitted showing 2 x 4 bed houses and a 2 bedroom duplex apartment which would incorporate an extension of the mansard roof and a new basement. A copy of their positive response is available. Several alternative configurations may also be considered. A schedule of proposed floorplans can be found on the next page.

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Development & Asset Management PotentialSchedule of Proposed Areas

Floor Sq Ft GIA Sq M GIA

Basement 1,456 135.3

Ground 1,150 106.8

First 1,591 147.8

Second 1,335 124.0

Total 5,532 513.9

Basement Floor 1,456 Sq Ft / 135.3 Sq M

First Floor 1,591 Sq Ft / 147.8 Sq M

Ground Floor 1,150 Sq Ft / 106.8 Sq M

Second Floor 1,335 Sq Ft / 124.0 Sq M



Unit 1 - 160 SQ M / 4 Bed



Residential Sales ComparablesMarylebone continues to attract a variety of residents from high profile celebrities, professionals to university students. Despite Marylebone’s central location, it also boats some of London’s most admired green spaces with Regent’s Park, Hyde Park and St James’s Park all within close proximity. In spite of the recent global pandemic, residential prices have risen over 2% over the last 5 years.

Property Tenure Sale Date Size Sq ft Price Price £psf

16 Bryanston Mansions, W1 (Second Floor Flat)

Leasehold; TBA 09/04/2021 1,308 £2,275,000 £1,739

78 Montagu Mansions, W1 (Third Floor Flat)

Leasehold; plus share of F/H

07/05/2021 1,352 £2,750,000 £2,034

Flat 3, (Ground Floor) 34 Bryanston Square, W1

Leasehold; 983 years approx unexpired

28/06/2021 1,186 £2,375,000 £2,003

2 York House, 39 UpperMontagu Street, W1 (Ground Floor Flat)

Leasehold 26/10/2021 1,008 £1,720,000 £1,706

Flat 4, (Third Floor) 5 Bryanston Square, W1

Leasehold; plus share of F/H

19/10/2021 1,150 £1,975,000 £1,717

Office Sales ComparablesThe Marylebone office market has been one of the strongest across the ‘core’ West End in 2021. More specifically, there has been increased activity in the small sub – 5,000 sq ft size bracket.

Despite the Covid-19 pandemic, London has continued to attract global capital as it maintains it’s ‘safe-haven’ status.

There remains strong demand for vacant properties in the West End, with owner occupiers driving interest as they choose to purchase attractive assets that reflect their long term requirements and presence.

Property Tenure Sale Date Size Sq ft Price Price £psf

4-6 York Street, W1 Freehold 01/07/2021 9,832 £11,850,000 £1,205

2-4 Huntsworth Mews, W1 Freehold 30/03/2021 2,854 £3,050,000 £1,068

17 Homer Row Freehold 22/12/2020 3,001 £4,250,000 £1,416

32 Percy Street W1 Freehold 25/06/2021 3,167 £4,000,000 £1,263

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Market Commentary

Sint and Robert Irving Burns give notice that these particulars are set out as a general outline only for the guidance of intending. Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party 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. No person in the employment of Sint and Robert Irving Burns has any authority to make any representation or warranty whatsoever in relation to this property. November 2021. Map data ©2021 Google Maps.

Designed by www.darwooddesign.com


Dan [email protected] 357 260

David [email protected] 238 184

Aubrey [email protected] 600 004

Damien [email protected] 125 543

Adam [email protected] 497 365

Further Information

EPCAvailable on request.

VATThe property is not eleceted for VAT.

For further information please contact sole agents:

Proposal

Seeking offers in excess of £4,000,000, subject to contract, for the benefit of the Freehold interest.

salisbury place

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