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Sovereign House, 212-224 Shaftesbury Avenue, London, WC2H 8HQ
23,007 Sq Ft / Offices
Withdrawn - Last updated: 25 March 2021
Summary
Sovereign House is an attractive period building on a 0.2 acre site, 200m from Tottenham Court Road's Elizabeth Line station.
Location
Sovereign House is situated at the north end of Covent Garden, prominently situated on Shaftesbury Avenue. Occupying a virtual island site, the property is 200m away from the new Elizabeth Line station at Tottenham Court Road.
Description
The building occupies 0.2 acres on a virtual island site, on a prominent corner position at the junction of Shaftesbury Avenue and Grape Street. Comprising 23,007 sq ft of mixed use accommodation, the property offers 7 retails units on ground and lower ground floors, with offices on the 1st to 5th floors front Shaftesbury Avenue. There is further office accommodation on the ground and lower ground units fronting Grape Street with 13 residential units on 1st to 5th floors.
Diverse Income Stream
The property produces a total income of 931,433 per annum. The office income equates for 64.5% of total income and averages 34.74 per sq ft and the retail equates for 35.3% of total income and averages approximately 58.00 per sq ft (ZA).
Asset Management Opportunities
There are a number of asset management initiatives that will drive performance
Infrastructure Improvements
Camden Council are currently underway with it's West End Project which is improving the local infrastructure. Works started in May 2018 at the north end of Tottenham Court Road. By late 2019 works will begin on pedestrianising the stretch of Shaftesbury Avenue directly outside the property, creating a new public square.
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