Rare Mayfair mixed use retail and office asset providing the opportunity to hold as an investment, redevelop or refurbish the existing property
- Highly reversionary.
- Prime retail rents on Conduit Street (where the asset is located) are now £550.
- Westminster City Council have recently supported a planning pre-application to demolish and redevelop the property, extending it to 7 floors reflecting a net internal floor area of 15,612 sq ft (20,291 sq ft GIA)
- Major tenant: The East India Company Fine Foods Ltd
- The property is held in a BVI SPV. The entire share capital can be sold, thereby mitigating any stamp duty. Purchasers costs are therefore 1.80%
- Asking price: GBP36 million
Retail Investment, JLL UK