Property Investment Ref: PI01231

There is little chance of a quick return to a housing boom despite the possibility of UK prices rising over the course of the year, surveyors say.

29 Sackville Street, Mayfair, W1 Dev Opp £8.5m

This rare opportunity in the heart of Mayfair provides exciting asset management angles, with the potential to gain vacant possession, to allow a refurbishment, a conversion or to allow owner-occupation.

           The investment summary is as follows: 

• A rare opportunity to buy a freehold investment in the heart of Mayfair with the potential for future refurbishment or residential conversion.

• The building is arranged over lower ground, ground and three upper floors, extending to a total net lettable area of 6,634 sq ft (gross internal area of 9,323 sq ft).

• 29 Sackville Street is currently let to KPSS UK Ltd on a lease expiring on 19 December 2019, the rent passing is £196,500 per annum.

• There is an upward only rent review on 14 December 2014.

• Seeking offers in excess of £8,500,000 (Eight Million, Five Hundred Thousand Pounds) for the freehold interest, subject to contract, and exclusive of VAT. This represents a capital value of approximately £1,280 per sq ft (NIA) and £910 per sq ft (GIA). Please note I am not retained.
• Fee 1%