Situated behind a striking Grade II listed Victorian classical façade, 9-11 Grosvenor Gardens comprises an eclectic mix of open-plan and period style offices over lower ground, ground and six upper floors.
With a total floor area of 16,957 sq ft, floor plates range between 1,457 sq ft and 2,576 sq ft and can be easily sub-divided to provide more flexible accommodation.
To the rear of the property is a 2 bed maisonette, accessed from Grosvenor Gardens Mews East, with a gross internal area of 1,079 sq ft. The flat is situated above five covered car parking spaces and a loading bay which serves the lower ground floor tenants.
Location
9-11 Grosvenor Gardens occupies a mid-terraced site in Victoria with rear access from Grosvenor Gardens Mews East.
The building is close to the heart of the amenities that Victoria offers with Victoria Station only 300 metres to the south and the amenities on Victoria Street 450 metres to the east. Both Buckingham Palace Gardens, The Goring Hotel and the new 8 Eaton Lane development are just around the corner whilst Land Securities’ mixed use Nova scheme on Buckingham Palace Road is a short walk to the east.
Accommodation
6th Floor Offices - 18.5 sq m (199 sq ft)
5th Floor Offices - 135.3 sq m (1,457 sq ft)
4th Floor Offices - 180.8 sq m (1,946 sq ft)
3rd Floor Offices - 205.2 sq m (2,209 sq ft)
2nd Floor Offices - 239.3 sq m (2,576 sq ft)
1st Floor Offices - 226.4 sq m (2,436 sq ft)
Ground Floor Offices - 227.6 sq m (2,450 sq ft)
Ground Reception - 28.2 sq m (304 sq ft)
Lower Ground Floor Offices - 314.1 sq m (3,380 sq ft)
Sub Total - 1,575.4 sq m (16,957 sq ft)
1st Maisonette* Residential - 100.2 sq m** (1,079 sq ft**)
Sub Total -100.2 sq m (1,079 sq ft)
Total 1,675.6 sq m (18,036 sq ft)
* Access from Grosvenor Gardens Mews East
** Gross Internal Area
Terms
TENURE - The property is available by way of a long leasehold interest from the Grosvenor Estate for 125 years from 25th December 2001 expiring on 24th June 2126 (over 103 years unexpired).
The head rent is £58,750 per annum subject to rent review every five years or the greater of rent based on 10% of rents receivable.
TENANCIES:
Residential - 1st Floor Mews
AST: £3,550 per calendar month
Commencement: 01.05.2023
Expiry: 30.04.2024 (and thereafter from month-to-month)
Break Clause: Yes
When: 31.10.2023
Commercial - Lower Ground 9-11
Tenant: Hobs Reprographics PLC
Rent: £85,000 per annum (exclusive of VAT)
Lease: 10 years
Expiry: 28.09.2025 (2 years unexpired)
Planning - The building is Grade II listed and is located within the Grosvenor Gardens Conservation Area.
EPC - EPC rating of C.
VAT - The property has been elected for VAT and it is anticipated that the transaction could be treated as a Transfer Of a Going Concern (TOGC).
Dataroom - Please contact the Vendor’s agent to arrange access.
Proposal - Offers in excess of £16,250,000, subject to contract and exclusive of VAT. A purchase at this level reflects a low capital value of £901 per sq ft.
Specification
- Attractive Grade II listed period property
- Located in the heart of Victoria / Belgravia
- 18,036 sq ft of office and residential accommodation with the benefit of five covered car spaces and rear loading bay
- Refurbished recently
- 125 year leasehold interest from the Grosvenor Estate expiring in June 2126
- The vendor will offer a 12 month rental guarantee
- Combined income from the lower ground floor and AST is £127,600 plus VAT per annum
- Extensive asset management opportunities
- Air-Conditioning
- Commissionaire
- Demised kitchens
- LED lighting
- Raised floors
- Shower facilities
- Bike racks
- Excellent transport links