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Office, Assured Shorthold Tenancies, Ground Rents, Development - Residential for Sale
Lisson Street, Marylebone, London, NW1
Office, Assured Shorthold Tenancies, Ground Rents, Development - Residential for Sale
Lisson Street, Marylebone, London, NW1
Potential Residential Conversion
Zone 1 Prime Mixed-use Investment.
Opportunity to acquire a Freehold building.
Excellent transport connectivity, within close proximity of Edgware Road Station (Bakerloo, Hammersmith & City, Circle and District Lines) and London Marylebone Station (Chiltern Railway).
Attractive mixed-use building comprising a vacant Class E unit over lower ground, ground and mezzanine, with three self-contained flats above.
Two flats are sold off on long leases (61 years unexpired and 152 years unexpired), one flat let on an AST.
Estimated Rental Value for the office c. £63,500 (£30 per sq ft) and reversionary income on the upper floor flat.
Significant value add opportunities including change of use to residential, subject to necessary consents.
Offers are sought in excess of £1,400,000 (One Million Four Hundred Thousand Pounds), subject to contract. A purchase at this level reflects a blended low Capital Value of £548 per sq ft.
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Location
The property is centrally located in Marylebone between Bell Street and Marylebone Road in the Lisson Grove area of Westminster. The immediate area benefits from high-quality office/retail occupiers including Art Galleries, estate agents, cafes and restaurants. Regenttts Park is only 14 minutes away. The area around Lisson Street is mixed use but primarily office, retail and residential.Related links
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