£1,550,000
(£4,769.23/sq. ft)
Retail premises for salePortland House, 164 New Cavendish Street, London W1W
From 325 - 1,758 sq. ft
Added on
Robert Irving Burns
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About this property
Opportunity to acquire a Freehold Class E building situated within close proximity to the iconic BT Tower, in the heart of Fitzrovia, Central London.
The property is arranged over lower ground, ground and three upper floors extending to 1,758 sq ft | 163.3 sq m (NIA).
The property is currently let to four occupational tenants, producing a total passing rent of £71,250 per annum exclusive, with the lower ground floor currently vacant.
Opportunity to enhance the rental income through asset management, reconfiguration and refurbishment
Price: £1,550,000 (One Million Five Hundred and Fifty Thousand Pounds), for the Freehold Interest, Subject to Contract.
Description
The property comprises a multi-let Class E building arranged over lower ground, ground and three upper floors.
The lower ground floor is currently vacant, providing an incoming purchaser with the opportunity, refurbish and
re-let the accommodation. The property is fully let to a well-established tenant base, with occupiers in situ for between 5 and almost 23 years.
All tenants have renewed on at least two occasions, with the ground-floor tenant demonstrating a 32-year lease commitment through to 2036.
Location
Portland House occupies a prominent position on New Cavendish Street, close to its junction with Cleveland Street and within close proximity to the iconic BT Tower, in the heart of Fitzrovia.
Fitzrovia is one of Central London’s most established commercial districts and is particularly popular with occupiers from the media, technology, architecture, healthcare and creative industries.
The surrounding area provides an extensive range of retail, leisure and hospitality amenities, with the restaurants and cafés of Great Titchfield Street, Charlotte Street and Great Portland Street all within easy walking distance.
The micro-location is set to benefit significantly from the planned transformation of the BT Tower into one of London’s most iconic hotels, following its acquisition by mcr Hotels in 2024.
The property is also well positioned for access to Oxford Street, Regent Street, Marylebone High Street and Regent’s Park
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