Information correct as of 31st March 2021
Regent’s Wharf, N1 is a welcome oasis amongst the buzz of King’s Cross, a courtyard campus overlooking Regent’s Canal but within 5 minutes’ walk of King’s Cross Station and the amenities of Granary Square.
The buildings were acquired in 2014 with the ambition of completing a refurbishment or redevelopment scheme, with the location set to benefit from local investment and development.
Planning permission has since been achieved for a 111,000 sq ft development to form a creative campus of four buildings set around a landscaped central courtyard. Construction has commenced with delivery of the highly sustainable, gas-free and fully electric buildings set for summer 2023 and will be targeting BREEAM ‘Excellent’ as well as being WELL platinum Enabled.
105 Victoria Street, SW1 is a 300,500 sq ft freehold mixed-use asset on an island site in Victoria comprising a department store, retail unit and nine office floors. The offices are fully-let to seven tenants, all of which comply with a block date for vacant possession in October 2022.
The asset occupies one of the largest core development sites in Central London and is located on Victoria Street, which has benefitted from a number of recent office and mixed-use developments.
Westminster City Council has resolved to grant planning permission for a new 470,000 sq ft destination building to include c.415,000 sq ft of world class office accommodation with extensive terracing and supporting ancillary uses, such as an amenity floor with communal restaurant/bar, village square and an Activity Zone featuring an indoor football pitch.
The development has been designed with sustainability and wellness at its heart and is planned to deliver a BREEAM ‘Outstanding’ and Net Zero operational carbon and embodied carbon building in 2026 which will have significant socio-economic influence in Victoria.
Bury House, EC3 is a 27,700 sq ft freehold office building over basement, ground and six upper floors. The building occupies a core location in the heart of EC3, the City’s traditional insurance district and within the City tower cluster.
The asset is multi-let to five tenants and is being managed to a block date for vacant possession in January 2025.
Planning permission has now been submitted for a significant increase in massing to develop a 49 storey tower, delivering over 200,000 sq ft of new accommodation.
The scheme will provide a new, high-quality office eco-system, with leading sustainability credentials, new active ground floors frontages, extensive community uses and new public realm. The building incorporates a number of carbon reducing initiatives with the ambition to be Net Zero operational carbon and BREEAM ‘Outstanding’.
98 Theobald’s, WC1 is a prominent freehold Midtown office building, less than 5 minutes’ walk from Holborn station, and occupies an island site comprising 135,000 sq ft of accommodation arranged over basement, ground and nine upper floors, with floorplates ranging from 5,000 sq ft to 16,000 sq ft.
The building is single-let to Warner Bros. Entertainment as their London HQ with the lease recently regeared for a further 15 year term from September 2019 following a new bespoke fit-out, which includes a large central atrium with feature staircase, as well as two private screening rooms and event space.
The tenant has a Dun & Bradstreet rating of 5A1.
Stirling Square, SW1 is a prime St James’s building comprising 109,000 sq ft with 93,600 sq ft of offices over lower ground, ground and five upper floors and six apartments above that have been sold off on long leases.
Stirling Square has been owned by WELPUT since its inception, having been a seed asset for the fund after its development in 1999.
The building is widely considered in the London occupational market to be one of the highest quality buildings in St James’s. The island site occupies a discreet location between Piccadilly and The Mall and is opposite the Foreign Secretary’s residence.
The offices are multi-let to four high quality tenants; KKR, Citi Bank, Centrica and BAE Systems, on leases expiring between 2021 and 2029, providing opportunity in the near term to engage in lease regears and refurbishments, after which premium rents are expected to be achieved.
101 New Cavendish Street is an 103,000 sq ft freehold island site in Fitzrovia, with ground floor retail, offices on first to fourth floors and flats above which have been sold off.
The building is within a short walk of five London Underground Stations including Tottenham Court Road and will benefit from the opening of the Elizabeth Line.
The asset was acquired in 2014 to take advantage of an improving location and low average office passing rents of £35.00 per sq ft. The third and fourth floors were refurbished in 2016.
More recently a surrender of the 1st and 2nd floors was negotiated in March 2020 to enable their refurbishment and the provision of new Grade A office accommodation with upgraded on-floor servicing over +20,000 sq ft floorplates, a rarity in the West End.
As part of these works, the reception was refurbished, a feature stair was installed (from basement to 2nd floors), the façade was modernised and recoloured and the basement bike parking/shower facilities were upgraded.
20 St James’s Street, SW1 is a prime office building located in the core of St James’s and within a short walk of Green Park station. The asset was acquired in 2015, with short term income and vacant possession achievable shortly thereafter.
The asset was redeveloped behind the retained facade with completion of works in June 2018 to provide a new double height entrance and reception, reconfigured core and 60,000 sq ft of Grade A office accommodation.
The transformative project won a number of awards including best ‘West End Refurbishment / Regeneration’ at the 2019 OAS Awards, as well as winning the 2019 Surface Design Award for the feature artwork in reception.
The office suites are now fully-let to top-tier tenants including ExodusPoint Capital Management and Harrison Street Real Estate, providing long and secure income through to expiries in 2029 to 2032.
Farringdon Road Estate, EC1 is made up four freehold self-contained office buildings comprising an entire island site and providing unique warehouse style accommodation in small suites of 1,500 sq ft to 4,500 sq ft.
The asset was acquired in 2012 off low average passing rents which have grown over 125% through new lettings following a rolling refurbishment programme.
Having established a block date for vacant possession in October 2022, subject to planning, the building offers an opportunity to enhance massing, improve rents and create floor efficiencies alongside the provision of private and communal terracing as well as substantially improving the end of journey facilities.
The Estate is a short walk from Farringdon Station and will benefit from the opening of the Elizabeth Line. Farringdon is expected to become one of the busiest transport hubs in London.
7 Bishopsgate, EC2 is a prime City multi-let office building comprising 56,020 sq ft on lower ground, ground and six upper floors with floorplates ranging from 5,650 sq ft to 7,950 sq ft.
The building is located on Bishopsgate opposite the City tower cluster. The location is undergoing significant transformation due to developments such as 22 Bishopsgate and 8 Bishopsgate, which will improve amenities in the area.
The asset is currently multi-let to five tenants. The second and third floors have recently been refurbished to provide fully-fitted accommodation on large floorplates of 7,950 sq ft. As part of the refurbishment works the reception has also been enhanced and the bike parking/shower facilities upgraded. Significant reversion is expected on re-letting given the increasing demand for fully-fitted suites.