Commercial Investment
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20-24 Carlton House Terrace
A UNIQUE LEASEHOLD OPPORTUNITY
5.5% (£74.726m).
The offices which total 90,720 sq ft, arranged over ground and seven upper floors, are let to Angle American Services (UK) Limited until March 2020. The lease is Guaranteed by Anglo American Plc. Current rent passing totals £4.675m, the March 2009 rent review is outstanding.
The investment also comprises 14 apartments over the first to seventh floors, this element produces annual income of £4,170 and a car park for 302 vehicles which is let to the City of Westminster. The rent payable is 50% of the excess income over specified running costs from the car park over each financial year. From March 08 the income was £150,331.
Leasehold from The Crown Estates, circa 112 years unexpired, at 10% of the gross rent received subject to a minimum of £240,000 pa. Current head rent payable totals £482,917 pa.
Net rent equates to £4,346,253 pa.
We are not retained and would require a fee to be agreed further information is available
on receipt of a Letter of Interest and a signed Fee agreement.
SCHEDULE OF TENANCIES AND ACCOMMODATION
Anglo American Offices Ground (Reception) 992 25/03/99 24/03/20 25/03/09 - £4,675,000 Tenants headquarters.
Services (UK) Limited Ground (Offices) 20,107 (Outstanding) (£51.53) 15 car parking spaces.
Guarantee from Anglo First 11,010
American Plc Second 11,852
Third 11,850
Fourth 11,084
Fifth 10,631
Sixth 7,509
Seventh 5,685
Total 90,720 £4,675,000
Residential Residential First-Seventh - - 01/12/70 - - £3,900 Comprises 14 apartments over the 1st to 7th floors.
1 apartment occupied by the porter.
Ground rent £3,900 per annum, rising to £5,200 per
annum from 01/01/2036.
28 car parking spaces, held on leases co-terminus.
Car Park Ground - 01/12/70 £270 Includes 1 car parking space for the porter.
Total - £4,170
City of Westminster Car Park Ground - - 25/12/73 - - £150,000 302 car parking spaces.
The rent payable is 50% of the excess income over
specified running costs from the car park over each
financial year ending 31 March 2007. From 31
March 2008, the income was £150,331
Total - £150,000
Sub Total £4,829,170
The Crown Estate £482,917 Site area 0.63 acres.
(Head Rent Payable) Tenure - 125 year head leasehold from The Crown
Estate (112 years unexpired) at 10% of the gross
rents received subject to a minimum of £240,000
Total per annum.
Total £4,346,253
(i) Areas have been provided from our clients management records.
O F F E R S A R E I N V I T E D F O R T H E LEASE H O L D O F T H E S I T E
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