For Sale

17 Homer Row, Marylebone, W1 – Freehold Development Opportunity

17 Homer Row, Marylebone, W1

Offers in excess of £4,750,000

Property Types:
Commercial, Development Opportunity, Mixed, Residential
Tenure:
Freehold
Site Area:
5,000 sq.ft [465 sq.m]

Description

On the instructions of Annika Kisby and Tammy Wilkins of Allsop LLP acting as Joint Fixed Charge Receivers

EXECUTIVE SUMMARY

  • Prominent Freehold building.
  • Prime location in affluent Marylebone in the heart of London’s West End, surrounded by high value residential.
  • Substantial ongoing investment and regeneration of the immediate surrounding area including developments and infrastructure improvements.
  • Excellent West End location close to Marylebone, Edgware Road and Paddington London Underground and National Rail stations.
  • Total Gross Internal Area (GIA) approximately 5,000 sq ft (465 sq m) of accommodation arranged over basement, ground and two upper floors.
  • D2 unit arranged over basement and ground floors, with a separately accessed residential unit over first and second floors.
  • Offered with full vacant possession.
  • Historic Planning Consent to demolish and redevelop the existing to create a seven storey building comprising six flats and a D2 unit.
  • Previous Consent increased the building massing via an additional basement level and two upper storeys, which increases the GIA to 11,464 sq ft (1,065 sq m).
  • Fantastic opportunity to refurbish or redevelop the property (subject to gaining all necessary consents).

Offers are invited in excess of £4,750,000 (Four Million Seven Hundred and Fifty Thousand Pounds), subject to contract. A purchase at this level reflects an approximate capital value of £1,000 per sq ft on the existing area and £436 per sq ft on the historically consented area.