West End & City Property Specialists

Informal Bids Invited Thurs 29th April 5pm

• Prime multi let Mayfair office and gallery retail property.Total net internal area of 16,257 sq ft (1,510.3 sq m), comprising 13,388 sq ft (1,243.7 sq m) of offices together with 2,869 sq ft (266.5) sq m of retail accommodation.
• Virtual Freehold (2000 year lease from 1913 at £54.56 pa fixed).
• Multi let to 8 tenants offering a broad tenant mix. Reversionary passing rent of £661,700 per annum gross reflecting only £38.60 per sq ft on the office element, and £130 Zone A on the retail.
• Development and asset management opportunities including rear extension and potential medium term conversion to residential (subject to necessary consents).
• Of potential interest to part owner occupiers. Second floor (2,124 sq ft) vacant in July 2010. Seventh floor (530 sq ft) currently vacant.

We are instructed to seek offers in excess of £12,500,000 for our client's virtual freehold interest, reflecting a net initial yield of 5%, after usual purchaser's costs of 5.76%, and a capital value of only £769 per sq ft.

Basement Lease
1st Floor Lease
2nd Floor Lease
3rd Floor Lease
4th Floor Lease
5th Floor Lease
6th Floor Lease
Expenditure 1/4/09 - 31/3/10
Service Charge Expenditure 2010-2011
Service Charge Summary Sheet
Service Charge Tenant Cap Analysis
Year Ended 21/03/2009
Year Ended 31/03/2007
Year Ended 31/3/2008

UNDER OFFER

• London's largest casino totaling 77,500sqft on an island site of 0.684 acres.
• Let to Grosvenor Casinos Limited (5A1) for 20 years from 10th August 2006, with 5 yearly reviews linked to RPI (capped at 3%)
• Passing rent £2,700,000 reflecting £38.85sqft (topped up to 2011 review)
• The property benefits from planning permission to build an additional floor on the casino
• To the rear of the casino is a large residential tower block, which is also included in the sale. This consists of 48 flats all sold off on a long lease with 98 years unexpired.
• Quoting £54,000,000 which reflects an initial yield of 4.75% assuming purchaser's costs of 5.725% , subject to contract .

• Prime Fitzrovia Freehold
• Attractive, multi let, office and showroom building totalling 7,791 sq ft (724 sqm) net internal area over lower ground, ground and 1st to 3rd floors.
• Substantial redevelopment potential with opportunity to increase floor area.
• Potential for part owner occupation of ground and lower ground floors.
• Suitable for part conversion to residential STP, including potential to create a mews house at 5 Berners Mews. Neighbouring property recently granted approval for part conversion to residential on 1st to 5th floors.
• Expired planning permission to add two extra floors of office on Newman Street plus infill space at rear first floor.
• Property runs from Newman Street through to Berners Mews at the rear.
• Average passing rent only £28.50 sq ft.
• Architects drawings available, showing existing floor plans and cross section together with plans and cross section for a potential redevelopment scheme. For a copy of these drawings please contact the joint agents.
• Offers in excess of £4,500,000 reflecting £579 sq ft on existing net floor area and a 5% net initial yield after standard purchaser's costs of 5.75%.

Long Leasehold Kensington Office Building & Penthouse for sale with Vacant Possession.

• 9,073 sq ft (843 sq m) of Grade A offices over lower ground to third floors including two bedroom penthouse flat with private roof terrace.
• Grade II listed building substantially redeveloped at a cost of over £300 per sq ft with a mix of period and contemporary finishes. Specification includes a new passenger lift serving all floors, VRV air conditioning, fully cabled raised floors, new internal atrium, new WC's & showers. The building is DDA compliant.
• Private substantial terrace leading directly onto Princes Gardens.
• Well-located within short walking distance of South Kensington underground station, close to The V&A, and Natural History Museum, and benefitting from the amenity of Hyde Park.
• Building warranties and substantial capital allowances potentially available.
• Available with full vacant possession.

We are instructed to seek offers in excess of £7,500,000, subject to contract and exclusive of VAT for a new 115 year lease, reflecting £825 per sq ft. The lease is subject to an initial ground rent of £20,000 per annum for the first five years, thereafter reviewed every five years to 10% of the open market rental value.

Floorplans and photos can be downloaded from the website www.52princesgate.com

UNDER OFFER

• Prime Mayfair Freehold
• Attractive comfort cooled office and gallery building totaling 6,274 sq ft (583 sq m) Net Internal Area
• Multi-let to 4 tenants with an average passing rent of £33.23 per sq ft and a total current income of £144,190
• The third and fourth floors, totaling 1,935 sq ft (179.8 sq m) are currently vacant and have been recently refurbished to include comfort cooling, entry phones and new intruder alarm systems.
• Suitable for owner-occupiers and investors
• Potential for part conversion to residential subject to planning
• Reversionary rents. Opportunity to increase rental income substantially
• Potential to add a further floor subject to planning and other necessary approvals
• We are instructed to seek offers in excess of £5,490,000, which equates to £875 per sq ft capital value

• Freehold Public House and residential property totalling 3,706 sq ft (344 sq m).
• Let as a Public House at ground and lower ground floors with approximately 90 years remaining on the lease at a rent of £31,500 per annum.
• The Upper parts are used as Residential, and have recently been refurbished to a high standard. They are let on a 2 year lease at £3,800 per month.
• Located opposite King's Cross and St Pancras International Train Stations, with links to the Midlands and the North of the UK as well as providing International services to locations such as Paris, Brussels, Lille and Bruges.
• We are instructed to seek offers of £1,200,000 (One million two hundred thousand pounds), subject to contract, for our client's freehold interest. This equates to only £324 per sq ft and reflects an initial yield of 6.1% after full purchasers costs of 5.725%

• Prime Mayfair location off the north-west corner of Hanover Square, widely regarded as one of London’s most exclusive and prestigious areas.
• Freehold
• Secure income - 25 year lease from March 2008 with tenant only break option at the end of year 15.
• A modern attractive open plan office building arranged over basement, ground and five upper floors at a total of 17,740 sq ft (1,648 sq m) incl parking.
• Comprehensively refurbished in 2007.
• Directly opposite the new proposed Bond Street Eastern Crossrail station.
• Passing rent of £1,319,120, pa exclusive.

We are instructed to seek offers in the region of £24,935,000 subject to contract and exclusive of VAT for the Jersey-based SPV. This reflects a net initial yield of 5.2% (1.725% costs).

SOLD APRIL 2010

• Freehold
• 40,201sqft (3,734.7sqm) of mixed used commercial property, including offices, retail, nightclub and restaurant.
• Total current income of £1,840,641 per annum, with over 50% of the income being until 2019.
• Extensive frontage to two of Mayfair’s most prestigious streets, Dover and Berkeley Street.
• Substantial site offering significant future development opportunities.
• Potential for part change of use to residential subject to planning.
• Potential for part owner occupation.
• Active asset management opportunities including lease renewals and rent reviews.
• Low capital value of only £802 per sq ft
• Offers invited in excess of £32,270,000 reflecting 5.4% Net Initial Yield after standard purchaser’s costs of 5.7625%.

If you would like further information including copies of the leases you can visit our website: www.colliersdocuments.co.uk/doverandberkeley

If you would like to arrange an inspection or discuss this opportunity further please contact either myself on 0207 344 6604 or my colleague Nick Pemberton 0207 487 1617.

SOLD MARCH 2010

• ‘On the instructions of Wilky Fund Management Ltd on behalf of Merchant Navy Officers Pension Fund Trustees Ltd’
• Prime St James's location close to the junction of Pall Mall with St James's Street, overlooking St James's Palace. Pall Mall is an internationally recognised address.
• Freehold
• Secure income - offices (95% of income) let on FRI terms to the Commonwealth Secretariat for a further 15.25 years (10.25 years to break) subject to 5 yearly upward only rent reviews. Forthcoming rent review in December 2009.
• Modern building behind attractive period façade. Total net floor area 33,928 sq ft (3,152 sq m) comprising 32,105 sq ft (2,983 sq m) of Grade A offices over lower ground, ground and six upper floors, plus two retail units of 1,823 sq ft (169 sq m) fronting Crown Passage.
• Well specified open plan offices with metal tiled ceilings, two lifts, raised floors and air conditioning.
• Substantial refurbishment carried out in 2002 funded by Landlord.
• Long term potential for alternative use (subject to tenancy and usual necessary consents) such asÊresidential.
• Office passing rents reflect only £41.12 per sq ft overall. Forthcoming rent review in December 2009.
• NotVAT Elected.
• We are instructed to seek £25,000,000 subject to contract. This reflects a net initial yield of 5.25% after deduction of usual purchaser's costs of 5.725% and a capital value of only £737 per sq ft Freehold.

LEASES

• Download LEASE – retail unit 1-2
• Download LEASE – retail unit 3-4
• Download LEASE – Commonwealth Secretariat (nb tenant break option 2014 has been removed by deed of variation)
• Download LEASE – Fire escape

SOLD DECEMBER 2009

Corner office building fronting Embankment with river views totalling 17,554 sq ft (1,631 sq m) net. (circa 24,000 sq ft/2,230 sq m) Gross. Multi-let to 9 tenants on 13 leases with a block expiry date in October 2011 and all leases outside the Landlord & Tenant Act. Potential for conversion to residential in the medium term (subject to necessary consents).

SOLD DECEMBER 2009

• Prime LEASEHOLD office building, within The Portman Estate.
• Well-located, between Manchester and Portman Squares close to the junction with Manchester Square.
• Attractive period property with a total net internal area of 4,661 sq ft (433 q m).
• Estimated Gross internal area of 6,429 sq ft (597 sq m). Separate terrace to the rear.
• For sale with Full Vacant Possession.
• Long Leasehold from The Portman Estate, expiring December 2078 (68.5 yrs unexpired).
• Potential to extend, and add lift, subject to necessary consents.
• Not elected for VAT.

Offers are sought in the region of £3,000,000 (Three Million Pounds), subject to contract.

SOLD MARCH 2010

• Vacant Soho Freehold.
• Situated within 2 minutes walk of Piccadilly Circus Underground Station (Bakerloo and Piccadilly lines) in the heart of London's vibrant West End.
• Retail over ground and lower ground floors with 12 residential units over 1st to 4th floors.
• Potential to sell off residential upper floors.
• Of interest to investors, owner occupiers and developers.
• Potential for change of use to A3 Restaurant at ground and basement subject to planning.
• Possibility of a further floor of residential subject to planning.
• Immediate area likely to improve through the redevelopment of Ham Yard further along the Street.

We are instructed to seek offers in excess of £3,000,000 (Three Million Pounds) for the freehold, subject to contract. The property is not elected for VAT.

SOLD OCTOBER 2009

St James’s Place is a quiet road located in the heart of St James’s, an established office location. St James’s is bounded by Piccadilly to the north, Green Park to the west, Pall Mall to the south and Regent Street to the east. The area is well connected by public transport with Green Park and Piccadilly Circus being within easy walking distance, providing access to the Piccadilly, Victoria, Jubilee and Bakerloo lines.

A high quality building in a prime St James's location which has recently been refurbished to a very high standard with an 8 person lift, comfort cooling and lowered metal ceilings. The property is currently let, although their lease is on the market. Therefore we are looking for owner-occupier interest with a back to back surrender and sale.

We are looking for offers around £7.25 million ( Seven million two hundred and fifty thousand pounds).

SOLD SEPTEMBER 2009

The property is situated in Chelsea, one of London’s most exclusive residential, retail and commercial addresses, within walking distance of The Kings Road and Sloane Square and the world-renowned department stores Harrods and Harvey Nichols, as well as numerous fashion houses on Sloane Street and top quality hotels and restaurants.

This prestigious Chelsea Street is situated between Sloane Street and Brompton Road.

The surrounding area is predominantly high quality residential, achieving some of the highest sales values in London due to its central location. The area has good public transport links, with the nearest London Underground Station being Sloane Square (District and Circle) and close to routes out of London straight onto the A4 providing easy access to the UK motorway network and Heathrow Airport.

The property is for sale Freehold, with vacant possession of the upper parts. The retail shop over ground and lower ground floors is let to Marsh & Parsons on assignment for a term of 15 years from 24th June 2001, with a tenant only break in June 2011.

The current passing rent of £35,000 per annum exclusive is subject to an outstanding rent review from June 2006. We estimate this rent to be substantially reversionary.

We are instructed to seek offers in the region of £2,400,000, subject to contract and exclusive of vat.