Residential Investments, Office Investments for Sale
Homer Street, Marylebone, London, W1H
£2,950,000.00 £983.33 /sf
3,000 sf
Residential Investments, Office Investments for Sale
Homer Street, Marylebone, London, W1H
£2,950,000.00 £983.33 /sf
3,000 sf
This mixed-use building is arranged over basement, ground and 3 upper floors and measures 3,011 sq.ft (280 sq.m) GIA. The basement features a large self-contained studio flat with the ground and first floors arranged as office accommodation. This element of the building (including the studio flat) is let to the office tenant until 2026.
The second and third floors comprise a further 2 x studio flats and 1 x 1 bed flat which are all let on ASTs and offered in excellent condition.
There is a previously lapsed planning permission (granted 2010) to convert the ground and first floor office accommodation into two 1-bed flats.
The building currently produces £100,886 pa with an expected rent increase to £122,580 pa. More importantly, at the asking price, this build represents exceedingly good bricks and mortar value with ample opportunity to increase by way of planning, change of use and/or active asset management.
Location
The building is well located for the amenities of Marylebone High Street, Oxford Street, Mayfair, Hyde Park and Regents Park.
Nearby transport links include London Underground services from Marble Arch (Central Line), Baker Street (Jubilee, Metropolitan, Bakerloo, Hammersmith & City, Circle Line), Edgware Road (District, Circle, Hammersmith & City) as well as National Rail services from Marylebone and Paddington (including the Heathrow Express).
Motorists enjoy easy access to the A40 and the rest of Central London.
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