PRIME WEST END OPPORTUNITY SUITABLE FOR INVESTORS & OWNER OCCUPIERS

17a-19 Harcourt StreetMarylebone, London W1

The Printworks

• Freehold

• Prime Marylebone location positioned within a short walk to four tube and mainline stations

• Highest possible Public Transport Accessibility Level

• Attractive period facades fronting Harcourt Street

• Offices arranged over ground and two upper floors

• Total net internal area 8,039 sq ft and 10,750 sq ft gross internal area

• Vacant possession

• Potential to increase the net internal area through repositioning and extending the existing building subject to the relevant consents

• Offers in excess of £6,500,000 reflecting a low capital value of £808 psf

Executive Summary

17a-19

OXFORD STREET

MARYLEBONE

PADDINGTON

BAKER STREET

EDGWARE ROAD

BOND STREET

THE SHARD

17a-19 Harcourt Street Marylebone W1 2

Location

W I G M O R E S T R E E T

MARYLEBONE ROAD

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O X F O R D S T R E E T

D E V O N S H I R E S T R E E T

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B R O O K S T R E E T

M A D D O X S T R E E T

M A R Y L E B O N E R O A D

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W E S T W A YM A R Y L E B O N E

Hyde Park

Portman

SquareCavendish

Square

Regent’s

Park

Bond Street

Bond Street

Marble Arch

Baker Street

Marylebone

EDGWARE ROAD

Paddington

17a-19

LISSONGALLERY

THE LANDMARKHOTEL

SYLVIA YOUNGTHEATRE SCHOOL

CHILTERN FIREHOUSE

SHERLOCK HOLMES STATUE

MADAME TUSSAUDSLONDON

WALLACE COLLECTION

THEPORTMAN

HOME HOUSE

HILTON HOTEL

THE MARYLEBONE

KITCHEN

THEGRAZING

GOAT

The following tube and mainline stations are within walking distance:

0.3 miles – Edgware Road (Bakerloo, Circle, Hammersmith & City and District Underground Lines)

0.5 miles – Baker Street (Bakerloo, Jubilee, Metropolitan, Circle, Hammersmith & City Underground Lines)

0.3 miles – Marylebone Station (Bakerloo Underground Line / Marylebone Mainline Station)

0.6 miles – Paddington (Bakerloo, Hammersmith and City, Circle, District Underground Lines / Paddington Mainline Station and Crossrail (opens summer 2021)

Located in Marylebone, bounded by Regent’s Park to the north, Fitzrovia to the east, Mayfair to the south and Paddington to the west. It is an area defined by exclusive boutiques, renowned restaurants and fashionable hotels.

The building is situated on Harcourt Street close to its junction with Old Marylebone Road and Seymour Place.

Connectivity

17a-19 Harcourt Street Marylebone W1 3

The building totals 8,039 sq ft net internal area arranged over basement, ground and two upper floors. The period office buildings fronting Harcourt Street are two converted town houses that interconnect with with modern open plan offices to the rear.

The offices also benefit from:

- Two terraces on the first and second floors- Large reception area accessed from the courtyard- Car parking for up to four cars- Three entrances to the building

Last refurbished in 2005 and historically single let. The offices are currently fitted out to Grade A specification with air conditioning.

The Property

17a-19 Harcourt Street Marylebone W1 4

17-19 Harcourt Street Marylebone W1

AccommodationThe property comprises the following areas:

Floor NIA (sq ft) GIA (sq ft)

Second 2,043 2,528

First 2,797 3,356

Ground 2,852 4,469

Basement 347 397

Total 8,039 10,750

Potential Opportunities Potential to extend and infill at ground and roof levels to to create additional area (subject to the necessary consents).

This could provide the following opportunities:

- Cycle and shower facilities within the car park- Relocate the plant from roof level - Create a roof terrace and additional

office space

The property has been interdependently measure by Plowman Craven in accordance with the RICS Code of Measuring Practice (6th Edition).The measured survey is within the data room and a duty of care letter can be made available to the purchaser.

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Floor Plans

Basement347 sq ft / 32.2 sq m

Ground2,852 sq ft / 264.9 sq m

First2,797 sq ft / 259.8sq m

Second2,043 sq ft / 189.8 sq m

Plans not to scale. Indicative size only.

HARCOURT STREET

17a-19 Harcourt Street Marylebone W1

Office

WC

Terrace

Office

Office

WC

Office Office

Terrace

Office

Office

Car Park

CourtyardEntrance

WC

Reception

Store

TenureFreehold. (Title number LN196960).

TenancyThe subject property is to be sold with vacant possession.

PlanningLocated within the London Borough of Westminster and within the Portman Estate Conservation Area.

The terrace was group listed in 1987 (including 18 & 19 Harcourt Street). The listing protects the facades.

Historic planning approved (not implemented) in 2004 (LPA ref.03/09931/FULL and 04/00013/LBC) for use of part first and second floors as residential.

The Use Classes Order has changed as of the 1st September 2020. As such the lawful use of 17a-19 Harcourt Street is Class E. Class E (Commercial, business and service) includes: Retail, Restaurant, Office, Financial/ Professional Services, Indoor sports, Medical and Nursery.

17a-19 Harcourt Street Marylebone W1 7

Despite the considerable uncertainty in the market and the effects of the ongoing Covid-19 pandemic, demand remains strong for commercial real Estate in Central London. Shortage of available investment opportunities has ensured that pricing for assets across the risk curve has remained strong.

Strong demand for vacant freehold property in the West End remains robust, with owner occupiers driving the market as they wish to purchase assets that reflect their individuality and presence.

Market Commentary

COMPARABLE TRANSACTIONS

Marylebone House, 129-137 Marylebone Road

15 Cavendish Square122 Wigmore Street 3 Chandos Place 14A Shouldam Street 30 Harcourt Street

ADDRESS USE AREA SQ FT

TENURE TENANT SALE PRICE DATE

MARLYEBONE HOUSE, 129-137 MARYLEBONE ROAD, W1 OFFICE 62,314 FH VACANT £48,500,000

£788 PSF Apr-20

122 WIGMORE STREET, W1 OFFICE 4,551 LLH ROLLING BREAKS £5,500,000£1,209 PSF

Feb-20

15 CAVENDISH SQUARE, W1 OFFICE 7,654 FH VACANT£15,000,000

£1,960 PSFJan-20

3 CHANDOS PLACE, W1 OFFICE 4,876 FH VACANT£6,500,000£1,590 PSF

Jan-20

14A SHOULDHAM STREET, W1 OFFICE 4,979 FH VACANT£7,000,000£1,405 PSF

Jul-18

30 HARCOURT STREET, W1 OFFICE 4,492 FH VACANT£6,450,000£1,436 PSF

Jul-17

17a-19 Harcourt Street Marylebone W1 8

ProposalOffers are invited in excess of £6,500,000 (Six Million Five Hundred Thousand Pounds), subject to contract and exclusive of VAT. Pricing at this level reflects a low capital value of £808 per sq ft.

EPC Rating D-87

VATThe property is VAT registered.

Data RoomData room access can be arrange upon request.

Hugh Ronanhugh.ronan@colliers.com M +44 (0)7702 141 224

David Hanrahandavid.hanrahan@colliers.comM +44 (0)7831 518 102

Ed Offenbach edward.offenbach@colliers.comM +44 (0)7768 998 333

Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person employed or engaged by Colliers International and has any authority to make any representation or warranty whatsoever in relation to this property. September 2020.

Colliers International is the licensed trading name of Colliers International Central London UK LLP which is a limited liability partnership registered in England and Wales with registered number OC391630. Our registered office is at 50 George Street, London W1U 7GA. September 2020. S012365.

Siren | sirendesign.co.uk | 020 7478 8300

ContactFor further information, or to arrange a viewing, please contact one of the following:

17a-19 Harcourt Street Marylebone W1 9